12A:7-304 - Bills of lading in a set - New Jersey Statutes

12A:7-304.  Bills of lading in a set
    (1) Except where customary in overseas transportation, a bill of lading must  not be issued in a set of parts.  The issuer is liable for damages caused by  violation of this subsection.

    (2) Where a bill of lading is lawfully drawn in a set of parts, each of which is numbered and expressed to be valid only if the goods have not been delivered against any other part, the whole of the parts constitute one bill.

    (3) Where a bill of lading is lawfully issued in a set of parts and different parts are negotiated to different persons, the title of the holder to  whom the first due negotiation is made prevails as to both the document and the  goods even though any later holder may have received the goods from the carrier  in good faith and discharged the carrier's obligation by surrender of his  part.

    (4) Any person who negotiates or transfers a single part of a bill of lading  drawn in a set is liable to holders of that part as if it were the whole set.

    (5) The bailee is obliged to deliver in accordance with Subchapter 4 of this  Chapter against the first presented part of a bill of lading lawfully drawn in  a set.  Such delivery discharges the bailee's obligation on the whole bill.

     L.1961, c. 120, s. 7-304.