Sec. 45.07.205. Title under warehouse receipt defeated in certain cases.
60 words·~1 min read·
/ak/title-45/chapter-7/45-07-205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.07.205. 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 those goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.