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 Maryland Statutes
Subtitle 2 - Warehouse Receipts; Special Provisions
Section 7-201 - Who May Issue a Warehouse Receipt; Storage Under Government Bond
Section 7-202 - Form of Warehouse Receipt; Essential Terms; Optional Terms
Section 7-203 - Liability for Nonreceipt or Misdescription
Section 7-204 - Duty of Care; Contractual Limitation of Liability of Warehouse
Section 7-205 - Title Under Warehouse Receipt Defeated in Certain Cases
Section 7-206 - Termination of Storage at Option of Warehouse
Section 7-207 - Goods Must Be Kept Separate; Fungible Goods
Section 7-208 - Altered Warehouse Receipts