11 §7-1205. Title under warehouse receipt defeated in certain cases - Maine Statutes

Title 11: UNIFORM COMMERCIAL CODE

Article 7-A: DOCUMENTS OF TITLE

Part 2: WAREHOUSE RECEIPTS: SPECIAL PROVISIONS

§7-1205. Title under warehouse receipt defeated in certain cases

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. [2009, c. 324, Pt. A, §2 (NEW); 2009, c. 324, Pt. A, §4 (AFF).]

SECTION HISTORY

2009, c. 324, Pt. A, §2 (NEW). 2009, c. 324, Pt. A, §4 (AFF).