8.7-204 - Duty of care; contractual limitation of warehouseman's liability. - Virginia Statutes

§ 8.7-204. Duty of care; contractual limitation of warehouseman's liability.

(1) A warehouseman is liable for damages for loss of or injury to the goodscaused by his failure to exercise such care in regard to them as a reasonablycareful man would exercise under like circumstances but unless otherwiseagreed he is not liable for damages that could not have been avoided by theexercise of such care.

(2) Damages may be limited by a term in the warehouse receipt or storageagreement limiting the amount of liability in case of loss or damage, beyondwhich the warehouseman shall not be liable. On request of the bailor in arecord at the time of signing such storage agreement or within a reasonabletime after receipt of the warehouse receipt, the warehouseman's liability maybe increased on part or all of the goods thereunder. In this event,increased rates may be charged based on such increased valuation. No suchlimitation is effective with respect to the warehouseman's liability forconversion to his own use.

(3) Reasonable provisions as to the time and manner of presenting claims andinstituting actions based on the bailment may be included in the warehousereceipt or storage agreement.

(Code 1950, §§ 61-6, 61-24; 1964, c. 219; 2004, c. 200.)