Montana Code 30-7-207. Goods must be kept separate — fungible goods
30-7-207. Goods must be kept separate — fungible goods. (1) Unless the warehouse receipt otherwise provides, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled.
Terms Used In Montana Code 30-7-207
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Montana Code 30-7-102
- Warehouse: means a person engaged in the business of storing goods for hire. See Montana Code 30-7-102
(2)If different lots of fungible goods are commingled, the goods owned in common by the persons entitled thereto and the warehouse is severally liable to each owner for that owner’s share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.