Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 7. WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE |
Part 2. WAREHOUSE RECEIPTS: SPECIAL PROVISIONS |
Section 7--205. Title Under Warehouse Receipt Defeated in Certain Cases
Latest version.
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A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouseman who is also in the business of buying and selling such goods takes free of any claim under a warehouse receipt even though it has been duly negotiated.