Section 7--401. Irregularities in Issue of Receipt or Bill or Conduct of Issuer

The  obligations  imposed  by  this  Article  on  an issuer apply to a
  document of title regardless of the fact that
    (a)  the document may not comply with the requirements of this Article
  or of any other law or regulation regarding its issue, form or  content;
  or
    (b)  the  issuer  may have violated laws regulating the conduct of his
  business; or
    (c)  the goods covered by the document were owned by the bailee at the
  time the document was issued; or
    (d)  the  person  issuing  the  document  does  not  come  within  the
  definition of warehouseman if it purports to be a warehouse receipt.