ORS 77.5030¹
Document of title to goods defeated in certain cases

(1) A document of title confers no right in goods against a person who before issuance of the document had a legal interest or a perfected security interest in them and who neither:

(a) Delivered or entrusted them or any document of title covering them to the bailor or the nominee of the bailor with actual or apparent authority to ship, store or sell or with power to obtain delivery under ORS 77.4030 (Obligation of warehouseman or carrier to deliver) or with power of disposition under ORS 72.4030 (Power to transfer) and 79.0320 (UCC 9-320. Buyer of goods) or other statute or rule of law; nor

(b) Acquiesced in the procurement by the bailor or the nominee of the bailor of any document of title.

(2) Title to goods based upon an unaccepted delivery order is subject to the rights of anyone to whom a negotiable warehouse receipt or bill of lading covering the goods has been duly negotiated. Such a title may be defeated under ORS 77.5040 (Rights acquired in the absence of due negotiation) to the same extent as the rights of the issuer or a transferee from the issuer.

(3) Title to goods based upon a bill of lading issued to a freight forwarder is subject to the rights of anyone to whom a bill issued by the freight forwarder is duly negotiated; but delivery by the carrier in accordance with ORS 77.4010 (Irregularities in issue of document of title or conduct of issuer) to 77.4040 (Liability for good faith delivery pursuant to document of title) pursuant to its own bill of lading discharges the carrier’s obligation to deliver. [1961 c.726 §77.5030 (Document of title to goods defeated in certain cases); 2001 c.445 §150]

1 Legislative Counsel Committee, CHAPTER 77—Warehouse Receipts, Bills of Lading and Other Documents of Title, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors77.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information