8.7-203 - Liability for nonreceipt or misdescription. - Virginia Statutes

§ 8.7-203. Liability for nonreceipt or misdescription.

A party to or purchaser for value in good faith of a document other than abill of lading relying in either case upon the description therein of thegoods may recover from the issuer damages caused by the nonreceipt ormisdescription of the goods, except to the extent that the documentconspicuously indicates that the issuer does not know whether any part or allof the goods in fact were received or conform to the description, as wherethe description is in terms of marks or labels or kind, quantity orcondition, or the receipt or description is qualified by "contents,condition and quality unknown," "said to contain" or the like, if suchindication be true, or the party or purchaser otherwise has notice.

(Code 1950, § 61-23; 1964, c. 219; 2004, c. 200.)