reglab/housing_qa huggingface dataset:
CO Code § 4-4.5-504 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 4.5 - Funds Transfers|Part 5 - Miscellaneous Provisions|§ 4-4.5-504. Order in Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals From Account

  If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender's account, the bank may charge the sender's account with respect to the various orders and items in any sequence.    In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.     History. Source: L. 90: Entire article added, p. 361, § 1, effective January 1, 1991.    OFFICIAL COMMENT   1. Subsection (a) concerns priority among various obligations that are to be paid from the same account. A customer may have written checks on its account with the receiving bank and may have issued one or more payment orders payable from the same account. If the account balance is not sufficient to cover all of the checks and payment orders, some checks may be dishonored and some payment orders may not be accepted. Although there is no concept of wrongful dishonor of a payment order in Article 4A in the absence of an agreement to honor by the receiving bank, some rights and obligations may depend on the amount in the customer's account. Section 4A-209(b)(3) and Section 4A-210(b). Whether dishonor of a check is wrongful also may depend upon the balance in the customer's account. Under subsection (a), the bank is not required to consider the competing items and payment orders in any particular order. Rather it may charge the customer's account for the various items and orders in any order. Suppose there is $12,000 in the customer's account. If a check for $5,000 is presented for payment and the bank receives a $10,000 payment order from the customer, the bank could dishonor the check and accept the payment order. Dishonor of the check is not wrongful because the account balance was less than the amount of the check after the bank charged the account $10,000 on account of the payment order. Or, the bank could pay the check and not execute the payment order because the amount of the order is not covered by the balance in the account.   2. Subsection (b) follows Section 4-208(b) in using the first-in-first-out rule for determining the order in which credits to an account are withdrawn.
CO Code § 4-4.5-505 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 4.5 - Funds Transfers|Part 5 - Miscellaneous Provisions|§ 4-4.5-505. Preclusions of Objection to Debit of Customer's Account

 If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer.   History. Source: L. 90: Entire article added, p. 361, § 1, effective January 1, 1991.    OFFICIAL COMMENT   This section is in the nature of a statute of repose for objecting to debits made to the customer's account. A receiving bank that executes payment orders of a customer may have received payment from the customer by debiting the customer's account with respect to a payment order that the customer was not required to pay. For example, the payment order may not have been authorized or verified pursuant to Section 4A-202 or the funds transfer may not have been completed. In either case the receiving bank is obliged to refund the payment to the customer and this obligation to refund payment cannot be varied by agreement. Section 4A-204 and Section 4A-402. Refund may also be required if the receiving bank is not entitled to payment from the customer because the bank erroneously executed a payment order. Section 4A-303. A similar analysis applies to that case. Section 4A-402(d) and (f) require refund and the obligation to refund may not be varied by agreement. Under 4A-505, however, the obligation to refund may not be asserted by the customer if the customer has not objected to the debiting of the account within one year after the customer received notification of the debit.
CO Code § 4-7-203 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 2 - Warehouse Receipts - Special Provisions|§ 4-7-203. Liability for Nonreceipt or Misdescription

 A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that:    The document conspicuously indicates that the issuer does not know whether all or part of the goods in fact were received or conform to the description, such as a case in which the description is in terms of marks or labels or kind, quantity, or condition, or the receipt or description is qualified by “contents, condition, and quality unknown”, “said to contain”, or words of similar import, if the indication is true; or    The party or purchaser otherwise has notice of the nonreceipt or misdescription.     History. Source: L. 2006: Entire article R&RE, p. 474, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-203 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-203.   Changes: Changes to this section are for style only.   Purpose:   This section is a simplified restatement of existing law as to the method by which a bailee may avoid responsibility for the accuracy of descriptions which are made by or in reliance upon information furnished by the depositor. The issuer is liable on documents issued by an agent, contrary to instructions of its principal, without receiving goods. No disclaimer of the latter liability is permitted.   Cross Reference: Section 7-301.   Definitional Cross References:   “Conspicuous”. Section 1-201.   “Document of title”. Section 1-201.   “Goods”. Section 7-102.   “Good Faith”. Section 1-201. [7-102]   “Issuer”. Section 7-102.   “Notice”. Section 1-201.   “Party”. Section 1-201.   “Purchaser”. Section 1-201.   “Receipt of goods”. Section 2-103.   “Value”. Section 1-201.   ANNOTATION   Law reviews. For article, “Impact of the Uniform Commercial Code on Colorado Law”, see 42 Den. L. Ctr. J. 67 .
CO Code § 4-7-207 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 2 - Warehouse Receipts - Special Provisions|§ 4-7-207. Goods Must Be Kept Separate - Fungible Goods

  Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled.    If different lots of fungible goods are commingled, the goods are owned in common by the persons entitled thereto and the warehouse is severally liable to each owner for that owner's share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.     History. Source: L. 2006: Entire article R&RE, p. 475, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-207 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-207.   Changes: Changes for style only.   Purposes:   No change of substance is made from former Section 7-207. Holders to whom overissued receipts have been duly negotiated shall share in a mass of fungible goods. Where individual ownership interests are merged into claims on a common fund, as is necessarily the case with fungible goods, there is no policy reason for discriminating between successive purchasers of similar claims.   Definitional Cross References:   “Delivery”. Section 1-201.   “Duly negotiate”. Section 7-501.   “Fungible” goods. Section 1-201.   “Goods”. Section 7-102.   “Holder”. Section 1-201.   “Person”. Section 1-201.   “Warehouse receipt”. Section 1-201.   “Warehouse”. Section 7-102.   ANNOTATION   Applied in Midland Bean Co. v. Farmers State Bank, 37 Colo. App. 452, 552 P.2d 317 (decided prior to the 2006 repeal and reenactment).
CO Code § 4-7-208 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 2 - Warehouse Receipts - Special Provisions|§ 4-7-208. Altered Warehouse Receipts

 If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or electronic warehouse receipt enforceable against the issuer according to its original tenor.   History. Source: L. 2006: Entire article R&RE, p. 476, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-208 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-208.   Changes: To accommodate electronic documents of title.   Purpose:   1. The execution of tangible warehouse receipts in blank is a dangerous practice. As between the issuer and an innocent purchaser the risks should clearly fall on the former. The purchaser must have purchased the tangible negotiable warehouse receipt in good faith and for value to be protected under the rule of the first sentence which is a limited exception to the general rule in the second sentence. Electronic document of title systems should have protection against unauthorized access and unauthorized changes. See 7-106. Thus the protection for good faith purchasers found in the first sentence is not necessary in the context of electronic documents.   2. Under the second sentence of this section, an unauthorized alteration whether made with or without fraudulent intent does not relieve the issuer of its liability on the warehouse receipt as originally executed. The unauthorized alteration itself is of course ineffective against the warehouse. The rule stated in the second sentence applies to both tangible and electronic warehouse receipts.   Definitional Cross References:   “Good faith”. Section 1-201 [7-102].   “Issuer”. Section 7-102.   “Notice”. Section 1-202.   “Purchaser”. Section 1-201.   “Value”. Section 1-204.   “Warehouse receipt”. Section 1-201.
CO Code § 4-7-306 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 3 - Bills of Lading - Special Provisions|§ 4-7-306. Altered Bills of Lading

 An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor.   History. Source: L. 2006: Entire article R&RE, p. 481, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-306 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-306.   Changes: None   Purposes:   An unauthorized alteration or filling in of a blank, whether made with or without fraudulent intent, does not relieve the issuer of its liability on the document as originally executed. This section applies to both tangible and electronic bills of lading, applying the same rule to both types of bills of lading. The control concept of Section 7-106 requires that any changes to the electronic document of title be readily identifiable as authorized or unauthorized. Section 7-306 should be compared to Section 7-208 where a different rule applies to the unauthorized filling in of a blank for tangible warehouse receipts.   Cross Reference: Sections 7-106 and 7-208.   Definitional Cross References:   “Bill of lading”. Section 1-201.   “Issuer”. Section 7-102.
CO Code § 4-7-404 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 4 - Warehouse Receipts and Bills of Lading - General Obligations|§ 4-7-404. No Liability for Good-Faith Delivery Pursuant to Document of Title

 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 this article is not liable for the goods even if:    The person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or    The person to which the bailee delivered the goods did not have authority to receive the goods.     History. Source: L. 2006: Entire article R&RE, p. 484, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-404 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-404.   Changes: Changes reflect the definition of good faith in Section 1-201 [7-102] and for style.   Purposes:   This section uses the test of good faith, as defined in Section 1-201 [7-102], to continue the policy of former Section 7-404. Good faith now means “honesty in fact and the observance of reasonable commercial standards of fair dealing.” The section states explicitly that the common law rule of “innocent conversion” by unauthorized “intermeddling” with another's property is inapplicable to the operations of commercial carriers and warehousemen that in good faith perform obligations that they have assumed and that generally they are under a legal compulsion to assume. The section applies to delivery to a fraudulent holder of a valid document as well as to delivery to the holder of an invalid document. Of course, in appropriate circumstances, a bailee may use interpleader or other dispute resolution process. See Section 7-603.   Cross Reference: Section 7-603.   Definitional Cross References:   “Bailee”. Section 7-102.   “Delivery”. Section 1-201.   “Document of title”. Section 1-201.   “Good faith”. Section 1-201 [7-102].   “Goods”. Section 7-102.   “Person”. Section 1-201.   “Receipt of goods”. Section 2-103.   “Term”. Section 1-201.   ANNOTATION   Law reviews. For article, "Buyer-Secured Party Conflicts Under Section 9-307(1) of the Uniform Commercial Code", see 46 U. Colo. L. Rev. 333 (1974-75).
CO Code § 4-7-505 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer|§ 4-7-505. Indorser Not Guarantor for Other Parties

 The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers.   History. Source: L. 2006: Entire article R&RE, p. 487, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-505 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-505.   Changes: Limited to tangible documents of title.   Purposes:   This section is limited to tangible documents of title as the concept of indorsement is irrelevant to electronic documents of title. Electronic documents of title will be transferred by delivery of control. Section 7-106. The indorsement of a tangible document of title is generally understood to be directed towards perfecting the transferee's rights rather than towards assuming additional obligations. The language of the present section, however, does not preclude the one case in which an indorsement given for value guarantees future action, namely, that in which the bailee has not yet become liable upon the document at the time of the indorsement. Under such circumstances the indorser, of course, engages that appropriate honor of the document by the bailee will occur. See Section 7-502(a)(4) as to negotiable delivery orders. However, even in such a case, once the bailee attorns to the transferee, the indorser's obligation has been fulfilled and the policy of this section excludes any continuing obligation on the part of the indorser for the bailee's ultimate actual performance.   Cross Reference: Sections 7-106 and 7-502.   Definitional Cross References:   “Bailee”. Section 7-102.   “Document of title”. Section 1-201.   “Party”. Section 1-201.
CO Code § 4-7-506 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer|§ 4-7-506. Delivery Without Indorsement - Right to Compel Indorsement

 The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied.   History. Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-506 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-506.   Changes: Limited to tangible documents of title.   Purposes:   1. This section is limited to tangible documents of title as the concept of indorsement is irrelevant to electronic documents of title. Electronic documents of title will be transferred by delivery of control. Section 7-106. From a commercial point of view the intention to transfer a tangible negotiable document of title which requires an indorsement for its transfer, is incompatible with an intention to withhold such indorsement and so defeat the effective use of the document. Further, the preceding section and the Comment thereto make it clear that an indorsement generally imposes no responsibility on the indorser.   2. Although this section provides that delivery of a tangible document of title without the necessary indorsement is effective as a transfer, the transferee, of course, has not regularized its position until such indorsement is supplied. Until this is done the transferee cannot claim rights under due negotiation within the requirements of this Article (Section 7-501(a)(5)) on “due negotiation”. Similarly, despite the transfer to the transferee of the transferor's title, the transferee cannot demand the goods from the bailee until the negotiation has been completed and the document is in proper form for surrender. See Section 7-403(c).   Cross References:   Point 1: Sections 7-106 and 7-505.   Point 2: Sections 7-501(a)(5) and 7-403(c).   Definitional Cross References:   “Document of title”. Section 1-201.   “Rights”. Section 1-201.
CO Code § 4-7-507 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer|§ 4-7-507. Warranties on Negotiation or Delivery of Document of Title

 If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under section 4-7-508 , unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that:    The document is genuine;    The transferor does not have knowledge of any fact that would impair the document's validity or worth; and    The negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.     History. Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1. L. 2007: IP amended, p. 373, § 22, effective August 3.    Editor's note:   This section is similar to former § 4-7-507 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-507.   Changes: Substitution of the word “delivery” for the word “transfer,” reference leasing transactions and style.   Purposes:   1. Delivery of goods by use of a document of title does not limit or displace the ordinary obligations of a seller or lessor as to any warranties regarding the goods that arises under other law. If the transfer of documents attends or follows the making of a contract for the sale or lease of goods, the general obligations on warranties as to the goods (Sections 2-312 through 2-318 and Sections 2A-210 through 2A-316) are brought to bear as well as the special warranties under this section.   2. The limited warranties of a delivering or collecting intermediary, including a collecting bank, are stated in Section 7-508.   Cross References:   Point 1: Sections 2-312 through 2-318 and 2A-310-through 2A-316.   Point 2: Section 7-508.   Definitional Cross References:   “Delivery”. Section 1-201.   “Document of title”. Section 1-201.   “Genuine”. Section 1-201.   “Goods”. Section 7-102.   “Person”. Section 1-201.   “Purchaser”. Section 1-201.   “Value”. Section 1-204.
CO Code § 4-7-508 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer|§ 4-7-508. Warranties of Collecting Bank as to Documents of Title

 A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances against the claim or draft to be collected.   History. Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-508 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-508.   Changes: Changes for style only.   Purposes:   1. To state the limited warranties given with respect to the documents accompanying a documentary draft.   2. In warranting its authority a collecting bank or other intermediary only warrants its authority from its transferor. See Section 4-203. It does not warrant the genuineness or effectiveness of the document. Compare Section 7-507.   3. Other duties and rights of banks handling documentary drafts for collection are stated in Article 4, Part 5. On the meaning of draft, see Section 4-104 and Section 5-102, comment 11.   Cross References:   Sections 4-104, 4-203, 4-501 through 4-504, 5-1023, and 7-507.   Definitional Cross References:   “Collecting bank”. Section 4-105.   “Delivery”. Section 1-201.   “Document of title”. Section 1-102.   “Documentary draft”. Section 4-104.   “Intermediary bank”. Section 4-105.   “Good faith”. Section 1-201 [7-102.]
CO Code § 4-7-509 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 7 - Documents of Title|Part 5 - Warehouse Receipts and Bills of Lading - Negotiation and Transfer|§ 4-7-509. Adequate Compliance With Commercial Contract

 Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of credit is determined by article 2, 2.5, or 5 of this title.   History. Source: L. 2006: Entire article R&RE, p. 488, § 2, effective September 1.    Editor's note:   This section is similar to former § 4-7-509 as it existed prior to 2006.   OFFICIAL COMMENT   Prior Uniform Statutory Provision: Former Section 7-509.   Changes: To reference Article 2A.   Purposes:   To cross-refer to the Articles of this Act which deal with the substantive issues of the type of document of title required under the contract entered into by the parties.   Cross References: Articles 2, 2A and 5.   Definitional Cross References:   “Contract for sale”. Section 2-106.   “Document of title”. Section 1-201.   “Lease”. Section 2A-103.