Source: https://www.law.cornell.edu/uscode/text/49/80105
Timestamp: 2017-01-23 17:13:39
Document Index: 694026204

Matched Legal Cases: ['§ 80105', '§ 80105', '§ 80105', '§\u202f80105', '§\u202f1', '§\u202f31']

49 U.S. Code § 80105 - Title and rights affected by negotiation | US Law | LII / Legal Information Institute
U.S. Code › Title 49 › Subtitle X › Chapter 801 › § 80105 49 U.S. Code § 80105 - Title and rights affected by negotiation
§ 80105.
Title and rights affected by negotiation
(a)Title.—When a negotiable bill of lading is negotiated—
the person negotiating the bill had the ability to convey to a purchaser in good faith for value; and
the consignor and consignee had the ability to convey to such a purchaser; and
the common carrier issuing the bill becomes obligated directly to the person to whom the bill is negotiated to hold possession of the goods under the terms of the bill the same as if the carrier had issued the bill to that person.
(b)Superiority of Rights.—
When a negotiable bill of lading is negotiated to a person for value in good faith, that person’s right to the goods for which the bill was issued is superior to a seller’s lien or to a right to stop the transportation of the goods. This subsection applies whether the negotiation is made before or after the common carrier issuing the bill receives notice of the seller’s claim. The carrier may deliver the goods to an unpaid seller only if the bill first is surrendered for cancellation.
(c)Mortgagee and Lien Holder Rights Not Affected.—
(Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1347.)
80105(a)
49 App.:111.
Aug. 29, 1916, ch. 415, §§ 31, 39, 40, 39 Stat. 543, 544.
80105(b)
49 App.:119.
80105(c)
49 App.:120.
In subsection (a)(1), before subclause (A), the word “duly” is omitted as surplus.
In subsection (b), the words “right . . . is superior” are substituted for “no . . . shall defeat the rights of” for clarity. The words “right to stop the transportation” are substituted for “right of stoppage in transitu” for clarity.
In subsection (c), the word “remedies” is omitted as being included in “right”. The words “whose mortgage or lien on goods would be valid, apart from this chapter” are omitted as unnecessary because of the restatement. The words “which are subject to the mortgage or lien” are omitted as unnecessary.