The question whether a document is adequate to fulfill the obligations of a contract for sale or the conditions of a credit is governed by the articles on Sales (art. 2) and on Letters of Credit (art. 5).
Receipt or bill; when adequate compliance with commercial contract
11A V.I.C. § 7-509 — under Warehouse Receipts, Bills of Lading and Other Documents of Title.
11A V.I.C. § 7-509