Legislation
SECTION 7-205
Title Under Warehouse Receipt Defeated in Certain Cases
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 7, PART 2
Section 7--205. Title Under Warehouse Receipt Defeated in Certain Cases.
A buyer in ordinary course of business of fungible goods sold and
delivered by a warehouse that is also in the business of buying and
selling such goods takes the goods free of any claim under a warehouse
receipt even if the receipt is negotiable and has been duly negotiated.
A buyer in ordinary course of business of fungible goods sold and
delivered by a warehouse that is also in the business of buying and
selling such goods takes the goods free of any claim under a warehouse
receipt even if the receipt is negotiable and has been duly negotiated.