Section 55-7-404 - No liability for good-faith delivery pursuant to document of title. - New Mexico Statutes

55-7-404. 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 Chapter 55, Article 7 NMSA 1978 is not liable for the goods even if: 

(1)     the person from which the bailee received the goods did not have authority to procure the document or to dispose of the goods; or 

(2)     the person to which the bailee delivered the goods did not have authority to receive the goods.