Sec. 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.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967.
Amended by:
Acts 2005, 79th Leg., Ch. 122 (S.B. 1593), Sec. 1, eff. September 1, 2005.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 7 - Documents of Title
Subchapter B. Warehouse Receipts: Special Provisions
Section 7.201. Person That May Issue a Warehouse Receipt; Storage Under Bond
Section 7.202. Form of Warehouse Receipt
Section 7.203. Liability for Nonreceipt or Misdescription
Section 7.204. Duty of Care; Contractual Limitation of Warehouse's Liability
Section 7.205. Title Under Warehouse Receipt Defeated in Certain Cases
Section 7.206. Termination of Storage at Warehouse's Option
Section 7.207. Goods Must Be Kept Separate; Fungible Goods
Section 7.208. Altered Warehouse Receipts