• This is the good-faith-purchase exception to the doctrine of derivative title. UCC §§ 7-501(4); 7-502(1). [Cases: Warehousemen 15. C.J.S. Warehousemen and Safe Depositaries § 36.]
due negotiation
The transfer of a negotiable document of title so that the transferee takes it free of certain claims enforceable against the transferor.