There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 7 - Documents of Title
Part 4 - WAREHOUSE RECEIPTS AND BILLS OF LADING; GENERAL OBLIGATIONS
Section 55-7-404 - No liability for good-faith delivery pursuant to document of title. (2005)
NM Stat § 55-7-404 (2013) What's This?
55-7-404. No liability for good-faith delivery pursuant to document of title. (2005)
A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or pursuant to Chapter 55, Article 7 NMSA 1978 is not liable for the goods even if:
(1) the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or
(2) the person to which the bailee delivered the goods did not have authority to receive the goods.
History: 1953 Comp., § 50A-7-404, enacted by Laws 1961, ch. 96, § 7-404; 2005, ch. 144, § 79.
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