Lawgist12Negotiability of warehouse receipts
(1) The words in a negotiable warehouse receipt limiting its negotiability shall be void.
(2) A warehouseman who issues a non-negotiable warehouse receipt shall cause to be plainly marked upon its face the words "non-negotiable" or "not negotiable" in English or in the language in which it is issued.
(3) In case of non-compliance of sub-section (2), a holder of the warehouse receipt who purchases it for valuable consideration believing it to be a negotiable warehouse receipt may, at his option, treat the receipt as vesting in him all rights attaching to a negotiable warehouse receipt and imposing upon the warehouseman the same liabilities which he would have incurred had the receipt been a negotiable warehouse receipt and the warehouseman shall be liable accordingly.
(4) A negotiable warehouse receipt shall be valid for delivery till the date of expiry of the declared shelf-life of the goods for which it is issued.
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- 11 Warehouse receipts
- 12 Negotiability of warehouse receipts
- 13 Negotiation of warehouse receipt by delivery
- 14 Transfer of negotiable warehouse receipts without endorsement
- 15 Warranties on negotiation of warehouse receipts
- 16 Non-liability of the endorser
- 17 Negotiation of warehouse receipt not impaired by fraud, mistake or duress
- 18 Subsequent negotiation of warehouse receipts
- 19 Delivery of goods to be made after due charges are paid
- 20 Transfer of non-negotiable receipts
- 21 Conclusiveness of negotiable warehouse receipt
- 22 Presumption in certain cases
- 23 Issue of duplicate receipt
