(1) the document conspicuously indicates that the issuer does not know
whether all or part of the goods in fact were received or conform to the
description, such as a case in which the description is in terms of
marks or labels or kind, quantity, or condition, or the receipt or
description is qualified by "contents, condition, and quality unknown",
"said to contain", or words of similar import, if the indication is
true; or
(2) the party or purchaser otherwise has notice of the nonreceipt or
misdescription.
Structure New York Laws
Article 7 - Documents of Title
Part 2 - Warehouse Receipts: Special Provisions
7-201 - Person That May Issue a Warehouse Receipt; Storage Under Bond.
7-202 - Form of Warehouse Receipt; Effect of Omission.
7-203 - Liability for Nonreceipt or Misdescription.
7-204 - Duty of Care; Contractual Limitation of Warehouse's Liability.
7-205 - Title Under Warehouse Receipt Defeated in Certain Cases.
7-206 - Termination of Storage at Warehouse's Option.
7-207 - Goods Must Be Kept Separate; Fungible Goods.