28-7-205. TITLE UNDER WAREHOUSE RECEIPT DEFEATED IN CERTAIN CASES. 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.
History:
[28-7-205, added 2004, ch. 42, sec. 2, p. 84.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 7 - DOCUMENTS OF TITLE
Part 2 - WAREHOUSE RECEIPTS — SPECIAL PROVISIONS
Section 28-7-201 - PERSON THAT MAY ISSUE A WAREHOUSE RECEIPT — STORAGE UNDER BOND.
Section 28-7-202 - FORM OF WAREHOUSE RECEIPT — EFFECT OF OMISSION.
Section 28-7-203 - LIABILITY FOR NONRECEIPT OR MISDESCRIPTION.
Section 28-7-204 - DUTY OF CARE — CONTRACTUAL LIMITATION OF WAREHOUSE’S LIABILITY.
Section 28-7-205 - TITLE UNDER WAREHOUSE RECEIPT DEFEATED IN CERTAIN CASES.
Section 28-7-206 - TERMINATION OF STORAGE AT WAREHOUSE’S OPTION.
Section 28-7-207 - GOODS MUST BE KEPT SEPARATE — FUNGIBLE GOODS.
Section 28-7-208 - ALTERED WAREHOUSE RECEIPTS.