§ 6A-7-203 - Liability for nonreceipt or misdescription. - Rhode Island Statutes

SECTION 6A-7-203

   § 6A-7-203  Liability for nonreceipt ormisdescription. – A party to or purchaser for value in good faith of a document of title, otherthan a bill of lading, that relies upon the description of the goods in thedocument may recover from the issuer damages caused by the nonreceipt ormisdescription of the goods, except to the extent that:

   (1) The document conspicuously indicates that the issuer doesnot know whether all or part of the goods in fact were received or conform tothe description, such as a case in which the description is in terms of marksor labels or kind, quantity, or condition, or the receipt or description isqualified by "contents, condition, and quality unknown", "said to contain", orwords of similar import, if the indication is true; or

   (2) The party or purchaser otherwise has notice of thenonreceipt or misdescription.