Okla. Stat. tit. 12A, § 12A-7-503
This is the official text of Okla. Stat. tit. 12A, § 12A-7-503, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Document of title to goods defeated in certain cases
Official statutory text
Document of Title to Goods Defeated in Certain Cases.
(a) A document of title confers no right in goods against a
person that before issuance of the document had a legal interest or
a perfected security interest in the goods and that did not:
(1) deliver or entrust the goods or any document of title
covering the goods to the bailor or the bailor’s nominee with:
(A) actual or apparent authority to ship, store or sell;
(B) power to obtain delivery under Section 7-403 of this
title; or
(C) power of disposition under Section 2-403, 2A-304(2),
2A-305(2), 1-9-320, or 1-9-321(c) of this title or
other statute or rule of law; or
(2) acquiesce in the procurement by the bailor or its nominee
of any document.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 416
(b) Title to goods based upon an unaccepted delivery order is
subject to the rights of any person to which a negotiable warehouse
receipt or bill of lading covering the goods has been duly
negotiated. That title may be defeated under Section 7-504 of this
title to the same extent as the rights of the issuer or a transferee
from the issuer.
(c) Title to goods based upon a bill of lading issued to a
freight forwarder is subject to the rights of any person to which a
bill issued by the freight forwarder is duly negotiated. However,
delivery by the carrier in accordance with Part 4 of this article
pursuant to its own bill of lading discharges the carrier's
obligation to deliver.
(a) A document of title confers no right in goods against a
person that before issuance of the document had a legal interest or
a perfected security interest in the goods and that did not:
(1) deliver or entrust the goods or any document of title
covering the goods to the bailor or the bailor’s nominee with:
(A) actual or apparent authority to ship, store or sell;
(B) power to obtain delivery under Section 7-403 of this
title; or
(C) power of disposition under Section 2-403, 2A-304(2),
2A-305(2), 1-9-320, or 1-9-321(c) of this title or
other statute or rule of law; or
(2) acquiesce in the procurement by the bailor or its nominee
of any document.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 416
(b) Title to goods based upon an unaccepted delivery order is
subject to the rights of any person to which a negotiable warehouse
receipt or bill of lading covering the goods has been duly
negotiated. That title may be defeated under Section 7-504 of this
title to the same extent as the rights of the issuer or a transferee
from the issuer.
(c) Title to goods based upon a bill of lading issued to a
freight forwarder is subject to the rights of any person to which a
bill issued by the freight forwarder is duly negotiated. However,
delivery by the carrier in accordance with Part 4 of this article
pursuant to its own bill of lading discharges the carrier's
obligation to deliver.
Status: in_force · Read it on the official government site
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