Vermont § 304 - § 7—304.

§ 304. § 7—304.

• Tangible bills of lading in a set (a) Except as customary in international transportation, a tangible bill of lading may
  not be issued in a set of parts. The issuer is liable for damages caused by violation
  of this subsection. (b) If a tangible bill of lading is lawfully issued in a set of parts, each of which contains
  an identification code and is expressed to be valid only if the goods have not been
  delivered against any other part, the whole of the parts constitutes one bill. (c) If a tangible negotiable bill of lading is lawfully issued in a set of parts and different
  parts are negotiated to different persons, the title of the holder to which the first
  due negotiation is made prevails as to both the document of title and the goods even
  if any later holder may have received the goods from the carrier in good faith and
  discharged the carrier’s obligation by surrendering its part. (d) A person that negotiates or transfers a single part of a tangible bill of lading issued
  in a set is liable to holders of that part as if it were the whole set. (e) The bailee shall deliver in accordance with part 4 of this article against the first
  presented part of a tangible bill of lading lawfully issued in a set. Delivery in
  this manner discharges the bailee’s obligation on the whole bill. (Added 2015, No. 51, § B.3, eff. June 3, 2015.)