Sec. 7208.
If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or electronic warehouse receipt enforceable against the issuer according to its original tenor.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 2012, Act 87, Eff. July 1, 2013
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title (440.7101...440.7702)
174-1962-7-2 - Part 2 Warehouse Receipts: Special Provisions (440.7201...440.7210)
Section 440.7201 - Warehouse Receipt; Issuance; Storage Under Government Bond.
Section 440.7202 - Terms of Receipt; Form; Contrary Provisions.
Section 440.7203 - Liability for Nonreceipt or Misdescription.
Section 440.7205 - Fungible Goods; Buyer's Title.
Section 440.7207 - Separation of Goods; Commingling of Fungible Goods; Overissued Receipts.
Section 440.7208 - Alteration of Warehouse Receipts.
Section 440.7209 - Warehouse's Lien; Security Interest; "Household Goods" Defined; Loss of Lien.
Section 440.7210 - Warehouse's Lien; Enforcement Procedure; Liability for Noncompliance.