25-7-205. 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. (1965, c. 700, s. 1; 2006-112, s. 25.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 25 - Uniform Commercial Code
Article 7 - Documents of Title.
§ 25-7-102 - Definitions and index of definitions.
§ 25-7-103 - Relation of Article to treaty or statute.
§ 25-7-104 - Negotiable and nonnegotiable document of title.
§ 25-7-105 - Reissuance in alternative medium.
§ 25-7-106 - Control of electronic document of title.
§ 25-7-201 - Person that may issue a warehouse receipt; storage under bond.
§ 25-7-202 - Form of warehouse receipt; effect of omission.
§ 25-7-203 - Liability for nonreceipt or misdescription.
§ 25-7-204 - Duty of care; contractual limitation of warehouse's liability.
§ 25-7-205 - Title under warehouse receipt defeated in certain cases.
§ 25-7-206 - Termination of storage at warehouse's option.
§ 25-7-207 - Goods must be kept separate; fungible goods.
§ 25-7-208 - Altered warehouse receipts.
§ 25-7-209 - Lien of warehouse.
§ 25-7-210 - Enforcement of warehouse's lien.
§ 25-7-302 - Through bills of lading and similar documents of title.
§ 25-7-303 - Diversion; reconsignment; change of instructions.
§ 25-7-304 - Tangible bills of lading in a set.
§ 25-7-305 - Destination bills.
§ 25-7-306 - Altered bills of lading.
§ 25-7-308 - Enforcement of carrier's lien.
§ 25-7-309 - Duty of care; contractual limitation of carrier's liability.
§ 25-7-401 - Irregularities in issue of receipt or bill or conduct of issuer.
§ 25-7-402 - Duplicate document of title; overissue.
§ 25-7-403 - Obligation of bailee to deliver; excuse.
§ 25-7-404 - No liability for good-faith delivery pursuant to document of title.
§ 25-7-501 - Form of negotiation and requirements of due negotiation.
§ 25-7-502 - Rights acquired by due negotiation.
§ 25-7-503 - Document of title to goods defeated in certain cases.
§ 25-7-505 - Indorser not guarantor for other parties.
§ 25-7-506 - Delivery without indorsement; right to compel indorsement.
§ 25-7-507 - Warranties on negotiation or delivery of document of title.
§ 25-7-508 - Warranties of collecting bank as to documents of title.
§ 25-7-509 - Adequate compliance with commercial contract.
§ 25-7-601 - Lost, stolen, or destroyed documents of title.
§ 25-7-602 - Judicial process against goods covered by negotiable document of title.