Section 7-7-401

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 regardless of the fact that:

(a) The document may not comply with the requirements of this article or of any other law or regulation regarding its issue, form or content; or

(b) The issuer may have violated laws regulating the conduct of his business; or

(c) The goods covered by the document were owned by the bailee at the time the document was issued; or

(d) The person issuing the document does not come within the definition of warehouseman if it purports to be a warehouse receipt.

(Acts 1965, No. 549, p. 811.)