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The receipts issued by a warehouseman shall, unless it is otherwise specified thereon, be transferable by endorsement and shall entitle the lawful holder thereof to receive the goods specified in it on the same terms and conditions as the original depositor. Explanation:- The provisions of this section shall not apply to any receipt issued by a person who has not obtained a licence under this Act.
The receipts issued by a warehouseman shall, unless it is otherwise specified thereon, be transferable by endorsement and shall entitle the lawful holder thereof to receive the goods specified in it on the same terms and conditions as the original depositor. Explanation:- The provisions of this section shall not apply to any receipt issued by a person who has not obtained a licence under this Act.<br>