A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 7 - Documents of Title
Part 2 - Warehouse Receipts: Special Provisions
§ 4-7-201. Person that may issue a warehouse receipt — Storage under bond
§ 4-7-202. Form of warehouse receipt — Effect of omission
§ 4-7-203. Liability for nonreceipt or misdescription
§ 4-7-204. Duty of care — Contractual limitation of warehouse's liability
§ 4-7-205. Title under warehouse receipt defeated in certain cases
§ 4-7-206. Termination of storage at warehouse's option
§ 4-7-207. Goods must be kept separate — Fungible goods