Sec. 7-401. Irregularities in issue of receipt or bill or conduct of issuer.
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/il/chapter-810/act-5/7-401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 7-401. Irregularities in issue of receipt or bill or conduct of issuer. The obligations imposed by this Article on an issuer apply to a document of title even if:
(1)the document does not comply with the requirements of this Article or of any other
statute, rule, or regulation regarding its issuance, form, or content;
(2)the issuer violated laws regulating the conduct of its business;
(3)the goods covered by the document were owned by the bailee when the document was
issued; or
(4)the person issuing the document is not a warehouse but the document purports to be a
warehouse receipt.