Alabama Code 7-7-205. Title under warehouse receipt defeated in certain cases
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Terms Used In Alabama Code 7-7-205
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Alabama Code 7-7-102
- Warehouse: means a person engaged in the business of storing goods for hire. See Alabama Code 7-7-102
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.