docker fails to start with the message "Job docker.service/start failed with result 'dependency'" on RHEL 7

Issue

• Why does the docker service fail to start with the message "Job docker.service/start failed with result 'dependency' " on Red Hat Enterprise Linux 7?
• docker service fails to start on a fresh installed system. docker package installed on the system is docker-1.12.6-68.gitec8512b.el7. Journal logs

Dec 04 11:00:00 test systemd[1]: Starting SystemWide Container Registries...
Dec 04 11:00:00 test registries[23831]: Traceback (most recent call last):
Dec 04 11:00:00 test registries[23831]: File "/usr/libexec/registries", line 5, in <module>
Dec 04 11:00:00 test registries[23831]: from pkg_resources import load_entry_point
Dec 04 11:00:00 test registries[23831]: ImportError: No module named pkg_resources
Dec 04 11:00:00 test systemd[1]: registries.service: main process exited, code=exited, status=1/FAILURE
Dec 04 11:00:00 test systemd[1]: Failed to start SystemWide Container Registries.
Dec 04 11:00:00 test systemd[1]: Dependency failed for Docker Application Container Engine.
Dec 04 11:00:00 test systemd[1]: Dependency failed for Docker Cleanup.
Dec 04 11:00:00 test systemd[1]: Job docker-cleanup.service/start failed with result 'dependency'.
Dec 04 11:00:00 test systemd[1]: Job docker.service/start failed with result 'dependency'.
Dec 04 11:00:00 test systemd[1]: Unit registries.service entered failed state.
Dec 04 11:00:00 test systemd[1]: registries.service failed.