8.7-602 - Attachment of goods covered by a negotiable document. - Virginia Statutes

§ 8.7-602. Attachment of goods covered by a negotiable document.

Except where the document was originally issued upon delivery of the goods bya person who had no power to dispose of them, no lien attaches by virtue ofany judicial process to goods in the possession of a bailee for which anegotiable document is outstanding unless possession or control of thedocument is first surrendered to the bailee or its negotiation is enjoined.The bailee shall not be compelled to deliver the goods pursuant to processuntil possession or control of the document is surrendered to him or thecourt. One who purchases the document for value without notice of the processor injunction takes free of the lien imposed by judicial process.

(Code 1950, § 61-28; 1964, c. 219; 2004, c. 200.)