7-7-504
Section 7-7-504 Rights acquired in absence of due negotiation; effect of diversion;
stoppage of delivery. (a) A transferee of a document of title, whether negotiable or nonnegotiable,
to which the document has been delivered but not duly negotiated, acquires the title and rights
that its transferor had or had actual authority to convey. (b) In the case of a transfer of
a nonnegotiable document of title, until but not after the bailee receives notice of the transfer,
the rights of the transferee may be defeated: (1) By those creditors of the transferor which
could treat the transfer as void under Section 7-2-402 or 7-2A-308; (2) By a buyer
from the transferor in ordinary course of business if the bailee has delivered the goods to
the buyer or received notification of the buyer's rights; (3) By a lessee from the transferor
in ordinary course of business if the bailee has delivered the goods to the lessee or received
notification of the lessee's rights; or (4) As against the bailee, by...
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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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7-2-503
Section 7-2-503 Manner of seller's tender of delivery. (1) Tender of delivery requires
that the seller put and hold conforming goods at the buyer's disposition and give the buyer
any notification reasonably necessary to enable him to take delivery. The manner, time and
place for tender are determined by the agreement and this article, and in particular: (a)
Tender must be at a reasonable hour, and if it is of goods they must be kept available for
the period reasonably necessary to enable the buyer to take possession; but (b) Unless otherwise
agreed the buyer must furnish facilities reasonably suited to the receipt of the goods. (2)
Where the case is within Section 7-2-504 respecting shipment, tender requires that
the seller comply with its provisions. (3) Where the seller is required to deliver at a particular
destination, tender requires that he comply with subsection (1) and also in any appropriate
case tender documents as described in subsections (4) and (5) of this section. (4)...

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7-2-403
Section 7-2-403 Power to transfer; good faith purchase of goods; "entrusting."
(1) A purchaser of goods acquires all title which his transferor had or had power to transfer
except that a purchaser of a limited interest acquires rights only to the extent of the interest
purchased. A person with voidable title has power to transfer a good title to a good faith
purchaser for value. When goods have been delivered under a transaction of purchase the purchaser
has such power even though: (a) The transferor was deceived as to the identity of the purchaser,
or (b) The delivery was in exchange for a check which is later dishonored, or (c) It was agreed
that the transaction was to be a "cash sale," or (d) The delivery was procured through
fraud punishable as larcenous under the criminal law. (2) Any entrusting of possession of
goods to a merchant who deals in goods of that kind gives him power to transfer all rights
of the entruster to a buyer in ordinary course of business. (3) "Entrusting"...

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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person
engaged in the business of banking and includes a savings bank, savings and loan association,
credit union, and trust company. (5) "Bearer" means a person in possession of a
negotiable instrument, document of title, or...
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7-2A-103
Section 7-2A-103 Definitions and index of definitions. (1) In this article unless the
context otherwise requires: (a) "Buyer in ordinary course of business" means a person
who in good faith and without knowledge that the sale to him or her is in violation of the
ownership rights or security interest or leasehold interest of a third party in the goods,
buys in ordinary course from a person in the business of selling goods of that kind but does
not include a pawnbroker. "Buying" may be for cash or by exchange of other property
or on secured or unsecured credit and includes receiving goods or documents of title under
a pre-existing contract for sale but does not include a transfer in bulk or as security for
or in total or partial satisfaction of a money debt. (b) "Cancellation" occurs when
either party puts an end to the lease contract for default by the other party. (c) "Commercial
unit" means such a unit of goods as by commercial usage is a single whole for purposes
of lease and...
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7-2A-304
Section 7-2A-304 Subsequent lease of goods by lessor. (1) Subject to Section
7-2A-303, a subsequent lessee from a lessor of goods under an existing lease contract obtains,
to the extent of the leasehold interest transferred, the leasehold interest in the goods that
the lessor had or had power to transfer, and except as provided in subsection (2) and Section
7-2A-527(4), takes subject to the existing lease contract. A lessor with voidable title has
power to transfer a good leasehold interest to a good faith subsequent lessee for value, but
only to the extent set forth in the preceding sentence. If goods have been delivered under
a transaction of purchase, the lessor has that power even though: (a) the lessor's transferor
was deceived as to the identity of the lessor; (b) the delivery was in exchange for a check
which is later dishonored; (c) it was agreed that the transaction was to be a "cash sale";
or (d) the delivery was procured through fraud punishable as larcenous under the...
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7-7-501
Section 7-7-501 Form of negotiation and requirements of due negotiation. (a) The following
rules apply to a negotiable tangible document of title: (1) If the document's original terms
run to the order of a named person, the document is negotiated by the named person's indorsement
and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate
the document by delivery alone. (2) If the document's original terms run to bearer, it is
negotiated by delivery alone. (3) If the document's original terms run to the order of a named
person and it is delivered to the named person, the effect is the same as if the document
had been negotiated. (4) Negotiation of the document after it has been indorsed to a named
person requires indorsement by the named person and delivery. (5) A document is duly negotiated
if it is negotiated in the manner stated in this subsection to a holder that purchases it
in good faith, without notice of any defense against or claim to it...
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7-9A-313
Section 7-9A-313 When possession by or delivery to secured party perfects security interest
without filing. (a) Perfection by possession or delivery. Except as otherwise provided in
subsection (b), a secured party may perfect a security interest in tangible negotiable documents,
goods, instruments, money, or tangible chattel paper by taking possession of the collateral.
A secured party may perfect a security interest in certificated securities by taking delivery
of the certificated securities under Section 7-8-301. (b) Goods covered by certificate
of title. With respect to goods covered by a certificate of title issued by this State, a
secured party may perfect a security interest in the goods by taking possession of the goods
only in the circumstances described in Section 7-9A-316(d). (c) Collateral in possession
of person other than debtor. With respect to collateral other than certificated securities
and goods covered by a document, a secured party takes possession of collateral in...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In
this article: (1) "Accession" means goods that are physically united with other
goods in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...

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