Kentucky Statutes 355.7-202 – Form of warehouse receipt — Effect of omission
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(1) A warehouse receipt need not be in any particular form.
(2) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission:
(a) The location of the warehouse facility where the goods are stored; (b) The date of issue of the receipt;
(c) The unique identification code of the receipt;
(d) A statement whether the goods received will be delivered to the bearer, to a named person, or to a named person or its order;
(e) The rate of storage and handling charges, but if goods are stored under a field warehousing arrangement, a statement of that fact is sufficient on a nonnegotiable receipt;
(f) A description of the goods or the packages containing them; (g) The signature of the warehouse or its agent;
(h) If the receipt is issued for goods that the warehouse owns, either solely, jointly, or in common with others, the fact of that ownership; and
(i) A statement of the amount of advances made and of liabilities incurred for which the warehouse claims a lien or security interest, but if the precise amount of advances made or of liabilities incurred is, at the time of the issue of the receipt, unknown to the warehouse or to its agent that issued the receipt, a statement of the fact that advances have been made or liabilities incurred and the purpose of the advances or liabilities is sufficient.
(3) A warehouse may insert in its receipt any terms that are not contrary to the Uniform
Commercial Code and do not impair its obligation of delivery under KRS § 355.7-
403 or its duty of care under KRS § 355.7-204. Any contrary provisions are ineffective.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 8, effective July 12, 2012.
— Created 1958 Ky. Acts ch. 77, sec. 7-202, effective July 1, 1960.
(2) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission:
Terms Used In Kentucky Statutes 355.7-202
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Kentucky Statutes 355.7-102
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Warehouse: means a person engaged in the business of storing goods for hire. See Kentucky Statutes 355.7-102
(a) The location of the warehouse facility where the goods are stored; (b) The date of issue of the receipt;
(c) The unique identification code of the receipt;
(d) A statement whether the goods received will be delivered to the bearer, to a named person, or to a named person or its order;
(e) The rate of storage and handling charges, but if goods are stored under a field warehousing arrangement, a statement of that fact is sufficient on a nonnegotiable receipt;
(f) A description of the goods or the packages containing them; (g) The signature of the warehouse or its agent;
(h) If the receipt is issued for goods that the warehouse owns, either solely, jointly, or in common with others, the fact of that ownership; and
(i) A statement of the amount of advances made and of liabilities incurred for which the warehouse claims a lien or security interest, but if the precise amount of advances made or of liabilities incurred is, at the time of the issue of the receipt, unknown to the warehouse or to its agent that issued the receipt, a statement of the fact that advances have been made or liabilities incurred and the purpose of the advances or liabilities is sufficient.
(3) A warehouse may insert in its receipt any terms that are not contrary to the Uniform
Commercial Code and do not impair its obligation of delivery under KRS § 355.7-
403 or its duty of care under KRS § 355.7-204. Any contrary provisions are ineffective.
Effective: July 12, 2012
History: Repealed and reenacted 2012 Ky. Acts ch. 132, sec. 8, effective July 12, 2012.
— Created 1958 Ky. Acts ch. 77, sec. 7-202, effective July 1, 1960.