Louisiana Revised Statutes 10:7-205 – Title under warehouse receipt defeated in certain cases
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Terms Used In Louisiana Revised Statutes 10:7-205
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Louisiana Revised Statutes 10:7-102
- Warehouse: means a person engaged in the business of storing goods for hire. See Louisiana Revised Statutes 10:7-102
A buyer in ordinary course of business of fungible goods sold and actually 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.
Added by Acts 1978, No. 164, §1, eff. Jan. 1, 1979; Acts 2009, No. 207, §3, eff. Jan. 1, 2010.