N.Y. Uniform Commercial Code 7-205 – Title Under Warehouse Receipt Defeated in Certain Cases
Current as of: 2024 | Check for updates
|
Other versions
Section 7–205. Title Under Warehouse Receipt Defeated in Certain Cases.
Terms Used In N.Y. Uniform Commercial Code 7-205
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See N.Y. Uniform Commercial Code 7-102
- Warehouse: means a person engaged in the business of storing goods for hire. See N.Y. Uniform Commercial Code 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.