South Dakota Codified Laws 57A-7-208. Altered warehouse receipts
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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.
Terms Used In South Dakota Codified Laws 57A-7-208
- Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See South Dakota Codified Laws 57A-7-102
- 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 South Dakota Codified Laws 57A-7-102
- Warehouse: means a person engaged in the business of storing goods for hire. See South Dakota Codified Laws 57A-7-102
Source: SL 2009, ch 254, § 7-208.