41-07-11. (7-205) Title under warehouse receipt defeated in certain cases.
50 words·~1 min read·
/nd/title-41/chapter-41-07-documents-of-title/41-07-11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.