California Commercial Code 7208 – If a blank in a negotiable tangible warehouse receipt has been filled …
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If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or electronic warehouse receipt enforceable against the issuer according to its original tenor.
(Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.)
Terms Used In California Commercial Code 7208
- Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
- Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See California Commercial Code 7102
- Purchaser: means a person that takes by purchase. See California Commercial Code 1201
- Warehouse: means a person engaged in the business of storing goods for hire. See California Commercial Code 7102
- Warehouse receipt: means a receipt issued by a person engaged in the business of storing goods for hire. See California Commercial Code 1201