Browse 46,252 source-backed statutes, open stored provisions and move directly into source-grounded legal research.
46,252 statutes · page 11 of 2313
United States — Louisiana legislation
20 statutes shown from 46,252 source-backed records
A lawsuit to enforce a right or obligation under this Chapter must be filed within one year, measured from the later of the letter of credit’s expiration or the cause of action accruing; reimbursement actions by an issuer under R.S. 10:5-108 have a five-year filing period from payment of funds.
This section sets which jurisdiction’s law and forum apply to liability disputes involving issuers, nominated persons, advisers, and bank branches under letters of credit and related undertakings.
This section gives subrogation rights to an issuer, applicant, or nominated person when the stated payment or reimbursement events happen.
An issuer or nominated person may have a security interest in documents presented under a letter of credit and related identifiable proceeds, if it honors or gives value for the presentation.
This chapter may be cited as “Uniform Commercial Code -- Documents of Title.”
This Chapter yields to applicable U.S. treaties and statutes, limits changes to certain bailee and document-of-title laws, and prevails over conflicting Louisiana electronic-transactions law.
This section says when a document of title is negotiable or nonnegotiable.
An issuer may replace an electronic or tangible document of title with the other form if the entitled person requests it and surrenders the original document or control/possession, and the new document states it is a substitute.
A person has control of an electronic document of title when the system or record reliably identifies that person as the issuer or most recent transferee, or when the specified copy-control conditions are met.
A warehouse receipt does not have to follow any particular form, but if it omits required information the warehouse is liable for resulting damages. A warehouse may include extra terms only if they do not conflict with this Title or weaken delivery and care obligations.
A good-faith holder of a document of title other than a bill of lading may recover damages from the issuer for nonreceipt or misdescription of the goods, unless the document warns that receipt or conformity is unknown and that warning is true, or the holder already had notice.
A warehouse must use reasonable care for stored goods and can limit liability by agreement, subject to exceptions.
A qualifying buyer of fungible goods takes the goods free of claims under a warehouse receipt, even if the receipt was negotiable and negotiated.
A warehouse may require payment and removal of stored goods after notice, and in some cases may sell or dispose of the goods; it must deliver the goods on due demand before sale or other disposition.
A warehouse generally must keep goods from each receipt separate, unless the receipt says otherwise; fungible goods may be mixed.
A good-faith purchaser for value without notice may treat an unauthorized insertion in a blank negotiable tangible warehouse receipt as authorized.
A warehouse may claim a lien on stored goods and related proceeds for storage-related charges and preservation expenses, with limits in some cases, and it can lose the lien if it voluntarily delivers the goods or unjustifiably refuses delivery.
A warehouse may sell goods to enforce its lien, but it must give notice and follow specific sale procedures.
Explore more
