411.551. Alteration of receipt--effect of. - Missouri Statutes

Alteration of receipt--effect of.

411.551. The alteration of a receipt shall not excuse the warehousemanwho issued it from any liability if the alteration was:

(1) Immaterial;

(2) Authorized; or

(3) Made without fraudulent intent. If the alteration was authorized, the warehouseman shall be liable accordingto the terms of the receipt as altered. If the alteration was unauthorized,but made without fraudulent intent, the warehouseman shall be liable accordingto the terms of the receipt, as they were before alteration. Material andfraudulent alteration of a receipt shall not excuse the warehouseman whoissued it from liability to deliver, according to the terms of the receipt asoriginally issued, the grain for which it was issued, but shall excuse himfrom any other liability to the person who made the alteration and to anyperson who took with notice of* the alteration. Any purchaser of the receiptfor value without notice of the alteration shall acquire the same rightsagainst the warehouseman which the purchaser would have acquired if thereceipt had not been altered at the time of the purchase.

(L. 1965 p. 606)

*Word "at" appears in original rolls.