N.Y. Uniform Commercial Code Law § 7-404: No Liability for Good-Faith Delivery Pursuant to Document of Title

Section 7--404. No Liability for Good-Faith Delivery Pursuant to

Document of Title.

A bailee that in good faith has received goods and delivered or

otherwise disposed of the goods according to the terms of a document of

title or pursuant to this article is not liable for the goods even if:

(1) the person from which the bailee received the goods did not have

authority to procure the document or to dispose of the goods; or

(2) the person to which the bailee delivered the goods did not have

authority to receive the goods.