ORS 77.4040: 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 chapter 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. [1961 c.726 §77.4040; 2009 c.181 §76]

WAREHOUSE RECEIPTS AND BILLS OF LADING: NEGOTIATION AND TRANSFER