407.202 Form of warehouse receipt.

WISCONSIN STATUTES AND CODES

407.202 Form of warehouse receipt.

407.202

407.202(1)

(1) A warehouse receipt need not be in any particular form.

407.202(2)

(2) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission:

407.202(2)(a)

(a) The location of the warehouse facility where the goods are stored.

407.202(2)(b)

(b) The date of issue of the receipt.

407.202(2)(c)

407.202(2)(d)

(d) A statement whether the goods received will be delivered to the bearer, to a named person, or to a named person or its order.

407.202(2)(e)

(e) The rate of storage and handling charges, but if goods are stored under a field warehousing arrangement, a statement of that fact is sufficient on a nonnegotiable receipt.

407.202(2)(f)

(f) A description of the goods or the packages containing them.

407.202(2)(g)

(g) The signature of the warehouse or its agent.

407.202(2)(h)

(h) If the receipt is issued for goods that the warehouse owns, either solely, jointly, or in common with others, the fact of that ownership.

407.202(2)(i)

(i) A statement of the amount of advances made and of liabilities incurred for which the warehouse claims a lien or security interest, but if the precise amount of advances made or of liabilities incurred is, at the time of the issue of the receipt, unknown to the warehouse or to its agent that issued the receipt, a statement of the fact that advances have been made or liabilities incurred and the purpose of the advances or liabilities is sufficient.

407.202(3)

(3) A warehouse may insert in its receipt any terms that are not contrary to chs. 401 to 411 and do not impair its obligation of delivery under s. 407.403 or its duty of care under s. 407.204. Any contrary provisions are ineffective.

407.202 - ANNOT.

History: 2009 a. 322.