§490:7-403  Obligation of bailee to deliver;
excuse.  (a)  A bailee shall deliver the goods to a person entitled under a
document of title if the person complies with subsections (b) and (c), unless
and to the extent that the bailee establishes any of the following:



(1)  Delivery of the goods to a person whose receipt
was rightful as against the claimant;



(2)  Damage to or delay, loss, or destruction of the
goods for which the bailee is not liable;



(3)  Previous sale or other disposition of the goods
in lawful enforcement of a lien or on a warehouse's lawful termination of
storage;



(4)  The exercise by a seller of its right to stop
delivery pursuant to section 490:2-705 or by a lessor of its right to stop
delivery pursuant to section 490:2A-526;



(5)  A diversion, reconsignment, or other disposition
pursuant to section 490:7-303;



(6)  Release, satisfaction, or any other personal
defense against the claimant; or



(7)  Any other lawful excuse.



(b)  A person claiming goods covered by a
document of title shall satisfy the bailee's lien if the bailee so requests or
if the bailee is prohibited by law from delivering the goods until the charges
are paid.



(c)  Unless a person claiming the goods is a
person against which the document of title does not confer a right under
section 490:7-503(a):



(1)  The person claiming under a document shall
surrender possession or control of any outstanding negotiable document covering
the goods for cancellation or indication of partial deliveries; and



(2)  The bailee shall cancel the document or
conspicuously indicate in the document the partial delivery or the bailee is
liable to any person to which the document is duly negotiated. [L 2004, c 163,
pt of §1]