70A-7a-304 - Tangible bills of lading in a set.

70A-7a-304. Tangible bills of lading in a set.
(1) Except as customary in international transportation, a tangible bill of lading may notbe issued in a set of parts. The issuer is liable for damages caused by violation of this Subsection(1).
(2) If a tangible bill of lading is lawfully issued in a set of parts, each of which containsan identification code and is expressed to be valid only if the goods have not been deliveredagainst any other part, the whole of the parts constitutes one bill.
(3) If a tangible negotiable bill of lading is lawfully issued in a set of parts and differentparts are negotiated to different persons, the title of the holder to which the first due negotiationis made prevails as to both the document of title and the goods even if any later holder may havereceived the goods from the carrier in good faith and discharged the carrier's obligation bysurrendering its part.
(4) A person that negotiates or transfers a single part of a tangible bill of lading issued ina set is liable to holders of that part as if it were the whole set.
(5) The bailee shall deliver in accordance with Chapter 4, Uniform Commercial Code -Bank Deposits and Collections, against the first presented part of a tangible bill of ladinglawfully issued in a set. Delivery in this manner discharges the bailee's obligation on the wholebill.

Enacted by Chapter 42, 2006 General Session