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7-7-102
Section 7-7-102 Definitions and index of definitions. (a) In this article, unless the context
otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill
of lading, or other document of title acknowledges possession of goods and contracts to deliver
them. (2) A "carrier" means a person that issues a bill of lading. (3) "Consignee"
means a person named in a bill of lading to which or to whose order the bill promises delivery.
(4) "Consignor" means a person named in a bill of lading as the person from which
the goods have been received for shipment. (5) "Delivery order" means a record that
contains an order to deliver goods directed to a warehouse, carrier, or other person that
in the ordinary course of business issues warehouse receipts or bills of lading. (6) "Good
faith" means honesty in fact in the conduct or transaction concerned. (7) "Goods"
means all things that are treated as movable for the purposes of a contract for storage or
transportation. (8) "Issuer"...
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7-1-201
in size than the surrounding text, or in contrasting type, font, or color to the surrounding
text of the same or lesser size; and (B) Language in the body of a record or display in larger
type than the surrounding text, or in contrasting type, font, or color to the surrounding
text of the same size, or set off from surrounding text of the same size by symbols or other
marks that call attention to the language. (11) "Consumer" means an individual who
enters into a transaction primarily for personal, family, or household purposes. (12)
"Contract," as distinguished from "agreement," means the total legal obligation
that results from the parties' agreement as determined by this title as supplemented by any
other applicable laws. (13) "Creditor" includes a general creditor, a secured creditor,
a lien creditor, and any representative of creditors, including an assignee for the benefit
of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator
of an...
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7-5-102
an item of value. Unless the letter of credit otherwise provides, "honor" occurs:
(i) upon payment, (ii) if the letter of credit provides for acceptance, upon acceptance of
a draft and, at maturity, its payment, or (iii) if the letter of credit provides for incurring
a deferred obligation, upon incurring the obligation and, at maturity, its performance. (9)
"Issuer" means a bank or other person that issues a letter of credit, but does not
include an individual who makes an engagement for personal, family, or household purposes.
(10) "Letter of credit" means a definite undertaking that satisfies the requirements
of Section 7-5-104 by an issuer to a beneficiary at the request or for the account of an applicant
or, in the case of a financial institution, to itself or for its own account, to honor a documentary
presentation by payment or delivery of an item of value. (11) "Nominated person"
means a person whom the issuer (i) designates or authorizes to pay, accept, negotiate, or...
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7-9A-102
term includes: (A) proceeds to which a security interest attaches; (B) accounts, chattel paper,
payment intangibles, and promissory notes that have been sold; and (C) goods that are the
subject of a consignment. (13) "Commercial tort claim" means a claim arising in
tort with respect to which: (A) the claimant is an organization; or (B) the claimant is an
individual and the claim: (i) arose in the course of the claimant's business or profession;
and (ii) does not include damages arising out of personal injury to or the death
of an individual. (14) "Commodity account" means an account maintained by a commodity
intermediary in which a commodity contract is carried for a commodity customer. (15) "Commodity
contract" means a commodity futures contract, an option on a commodity futures contract,
a commodity option, or another contract if the contract or option is: (A) traded on or subject
to the rules of a board of trade that has been designated as a contract market for such a
contract...
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8-1A-16
Section 8-1A-16 Transferable records. (a) In this section, "transferable record"
means an electronic record that meets the following criteria: (1) Would be a note under Article
3 of the Uniform Commercial Code or a document under Article 7 of the Uniform Commercial Code
if the electronic record were in writing. (2) The issuer of the electronic record expressly
has agreed is a transferable record. (b) A person has control of a transferable record if
a system employed for evidencing the transfer of interests in the transferable record reliably
establishes that person as the person to which the transferable record was issued or transferred.
(c) A system satisfies subsection (b), and a person is deemed to have control of a transferable
record, if the transferable record is created, stored, and assigned in such a manner that
all of the following occur: (1) A single authoritative copy of the transferable record exists
which is unique, identifiable, and, except as otherwise provided in...
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7-7-304
Section 7-7-304 Tangible bills of lading in a set. (a) Except as customary in international
transportation, a tangible bill of lading may not be issued in a set of parts. The issuer
is liable for damages caused by violation of this subsection. (b) If a tangible bill of lading
is lawfully issued in a set of parts, each of which contains an identification code and is
expressed to be valid only if the goods have not been delivered against any other part, the
whole of the parts constitutes one bill. (c) If a tangible negotiable bill of lading is lawfully
issued in a set of parts and different parts are negotiated to different persons, the title
of the holder to which the first due negotiation is made prevails as to both the document
of title and the goods even if any later holder may have received the goods from the carrier
in good faith and discharged the carrier's obligation by surrendering its part. (d) A person
that negotiates or transfers a single part of a tangible bill of lading...
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7-7-301
Section 7-7-301 Liability for nonreceipt or misdescription; "said to contain"; "shipper's
weight, load, and count"; improper handling. (a) A consignee of a nonnegotiable bill
of lading which has given value in good faith, or a holder to which a negotiable bill has
been duly negotiated, relying upon the description of the goods in the bill or upon the date
shown in the bill, may recover from the issuer damages caused by the misdating of the bill
or the nonreceipt or misdescription of the goods, except to the extent that the bill indicates
that the issuer does not know whether any part or all of the goods in fact were received or
conform to the description, such as in a case in which the description is in terms of marks
or labels or kind, quantity, or condition or the receipt or description is qualified by "contents
or condition of contents of packages unknown," "said to contain," "shipper's
weight, load, and count," or words of similar import, if that indication is true. (b)
If goods...
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35-12-79
Section 35-12-79 Custody by state; recovery by holder; defense of holder. (a) In this article,
good faith means honesty in fact in the conduct or transaction concerned. (b) Upon payment
or delivery of property to the Treasurer, the state assumes custody and responsibility for
the safekeeping of the property. A holder who pays or delivers property to the Treasurer in
good faith is relieved of all liability arising thereafter with respect to the property. The
payment or delivery of property to the Treasurer shall operate as a full, absolute and unconditional
release and discharge of the holder from any and all claims or demands of or liability to
any person entitled thereto, or to any other claimant or state, and the payment or delivery
may be pleaded as an absolute bar to any action brought against the holder by any other person
entitled thereto, or by any other claimant or state. Once properly pleaded, the holder shall
immediately and thereafter be relieved of and held harmless from...
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7-8-102
Section 7-8-102 Definitions. (a) In this article: (1) "Adverse claim" means a claim
that a claimant has a property interest in a financial asset and that it is a violation of
the rights of the claimant for another person to hold, transfer, or deal with the financial
asset. (2) "Bearer form," as applied to a certificated security, means a form in
which the security is payable to the bearer of the security certificate according to its terms
but not by reason of an indorsement. (3) "Broker" means a person defined as a broker
or dealer under the federal securities laws, but without excluding a bank acting in that capacity.
(4) "Certificated security" means a security that is represented by a certificate.
(5) "Clearing corporation" means: (i) a person that is registered as a "clearing
agency" under the federal securities laws; (ii) a federal reserve bank; or (iii) any
other person that provides clearance or settlement services with respect to financial assets
that would require it to...
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37-11A-1
by the Governor, or upon its otherwise becoming a law, and when the State of Mississippi ratifies
the compact. Article III. For purposes of this compact, the following terms shall have the
following meanings: (1) Person means an individual, a corporation, a partnership, or any other
entity. (2) Railroad means a common carrier by railroad as defined in Section 1(3) of Part
I of the Interstate Commerce Act [codified as 49 U.S.C. ยง1(3)]. (3) Railroad properties and
facilities mean any real or personal property or interest in property which is owned,
leased, or otherwise controlled by a railroad or other person, including, without limitation,
the authority, and which are used or are useful in rail transportation service, including,
without limiting the generality of the foregoing: a. Track, roadbed, and related structures,
including rail, ties, ballast, other track materials, grading, tunnels, bridges, trestles,
culverts, elevated structures, stations, office buildings used for operating...
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