554.7304 Tangible bills of lading in a set. 1. Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this subsection. 2. If a tangible bill of lading is lawfully issued in a set of parts, each of which contains an identification code and is expressed to be valid only if the goods have not been deliveredagainst any other part, the whole of the parts constitutes one bill. 3. If a tangible negotiable 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 which the first due negotiationis made prevails as to both the document of title and the goods even if any later holder mayhave received the goods from the carrier in good faith and discharged the carrier’s obligationby surrendering its part. 4. A person that negotiates or transfers a single part of a tangible bill of lading issued in a set is liable to holders of that part as if it were the whole set. 5. The bailee shall deliver in accordance with part 4 against the first presented part of a tangible bill of lading lawfully issued in a is liable to holders of that part as if it were the whole set. 5. The bailee shall deliver in accordance with part 4 against the first presented part of a tangible bill of lading lawfully issued in a set. Delivery in this manner discharges the bailee’sobligation on the whole bill. [S13, §3138-b5; C24, 27, 31, 35, 39, §8250; C46, 50, 54, 58, 62, §487.6; C66, 71, 73, 75, 77, 79, 81, §554.7304] 2007 Acts, ch 30, §20, 45, 46; 2017 Acts, ch 54, §64 Sat Dec 23 01:57:53 2023 Iowa Code 2024, Section 554.7304 (25, 0)
Iowa Legal Code