<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="11-803" title_number="11" title_name="Trade Regulation" subtitle_number="8" subtitle_name="Consignees">
  <level label="a">
    <text>Except as provided by subsection (b) of this section, a consignee entrusted with and in possession of a possessory document is considered the true owner of the goods described in the document for the purpose of any contract with a third person for:</text>
    <level label="1">
      <text>The sale or disposal of the goods; or</text>
    </level>
    <level label="2">
      <text>The pledge or deposit of them as security for any money or negotiable instrument advanced or given on the faith of the possessory document.</text>
    </level>
  </level>
  <level label="b">
    <text>A contract, pledge, or deposit described in subsection (a) of this section is not valid if the third person has notice that the consignee is not the true owner of the goods.</text>
  </level>
</section>
