8.7-207 - Goods must be kept separate; fungible goods. - Virginia Statutes

§ 8.7-207. Goods must be kept separate; fungible goods.

(1) Unless the warehouse receipt otherwise provides, a warehouseman must keepseparate the goods covered by each receipt so as to permit at all timesidentification and delivery of those goods except that different lots offungible goods may be commingled.

(2) Fungible goods so commingled are owned in common by the persons entitledthereto and the warehouseman is severally liable to each owner for thatowner's share. Where because of overissue a mass of fungible goods isinsufficient to meet all the receipts which the warehouseman has issuedagainst it, the persons entitled include all holders to whom overissuedreceipts have been duly negotiated.

(Code 1950, §§ 61-25, 61-26; 1964, c. 219.)