Source: L. 2006: Entire article R&RE, p. 475, § 2, effective September 1.
Editor's note: This section is similar to former § 4-7-207 as it existed prior to 2006.
Prior Uniform Statutory Provision: Former Section 7-207.
Changes: Changes for style only.
Purposes:
No change of substance is made from former Section 7-207. Holders to whom overissued receipts have been duly negotiated shall share in a mass of fungible goods. Where individual ownership interests are merged into claims on a common fund, as is necessarily the case with fungible goods, there is no policy reason for discriminating between successive purchasers of similar claims.
Definitional Cross References:
"Delivery". Section 1-201.
"Duly negotiate". Section 7-501.
"Fungible" goods. Section 1-201.
"Goods". Section 7-102.
"Holder". Section 1-201.
"Person". Section 1-201.
"Warehouse receipt". Section 1-201.
"Warehouse". Section 7-102.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 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