400.7-203. Liability for nonreceipt or misdescription.
Liability for nonreceipt or misdescription.
400.7-203. A party to or purchaser for value in good faithof a document of title other than a bill of lading relying ineither case upon the description therein of the goods may recoverfrom the issuer damages caused by the nonreceipt ormisdescription of the goods, except to the extent that thedocument conspicuously indicates that the issuer does not knowwhether any part or all of the goods in fact were received orconform to the description, as where the description is in termsof marks or labels or kind, quantity or condition, or the receiptor description is qualified by "contents, condition and qualityunknown", "said to contain" or the like, if such indication betrue, or the party or purchaser otherwise has notice.
(L. 1963 p. 503 § 7-203)