Article 7 of the Uniform Commercial Code relates to documents of title in the area covered by the Uniform Warehouse Receipts Act, the Uniform Bills of Lading Act, and that part of the Uniform Sales Act dealing with documents of title. A substantial caveat is important. Section 7-103 excludes from the operation of the Act two substantial areas: (1) It does not apply where federal law is paramount, and (2) excludes matters controlled by state regulatory statutes and the tariffs, regulations, and classifications issued pursuant to them. A document of title is first, a receipt for the goods by the issuer; second, a contract between the issuer and the depositor; third, a document of title.
Documents of Title under the Uniform Commercial Code—Article 7,
43 Neb. L. Rev. 773
Available at: https://digitalcommons.unl.edu/nlr/vol43/iss4/6