Section 18-207 - Negotiation of Bill of Lading for Mortgaged Goods and Goods of Others

A person may not ship goods to which he has no title or on which there is a lien or security interest and transfer a negotiable bill of lading for the goods for value: (1) With intent to defraud; and (2) Without disclosing his lack of title or the existence of the lien or security interest.