47-7207. Goods must be kept separate; fungible
A. Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled.
B. If different lots of fungible goods are commingled, the goods are owned in common by the persons entitled thereto and the warehouse is severally liable to each owner for that owner's share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.
Section: Previous 47-7106 47-7201 47-7202 47-7203 47-7204 47-7205 47-7206 47-7207 47-7208 47-7209 47-7210 47-7301 47-7302 47-7303 47-7304 NextLast modified: October 13, 2016