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Separation of Goods; Commingling of Fungible Goods; Overissued Receipts - Mich. Comp. Laws Section 440.7207

Legal Research Home > Michigan Laws > Uniform Commercial Code > Separation of Goods; Commingling of Fungible Goods; Overissued Receipts - Mich. Comp. Laws Section 440.7207

440.7207 Separation of goods; commingling of fungible goods; overissued receipts.

Sec. 7207.

(1) Unless the warehouse receipt otherwise provides, a warehouseman must keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods except that different lots of fungible goods may be commingled.

(2) Fungible goods so commingled are owned in common by the persons entitled thereto and the warehouseman is severally liable to each owner for that owner's share. Where because of overissue a mass of fungible goods is insufficient to meet all the receipts which the warehouseman has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated.


History: 1962, Act 174, Eff. Jan. 1, 1964

Section:  Previous  440.7203.amended  440.7204  440.7204.amended  440.7205  440.7205.amended  440.7206  440.7206.amended  440.7207  440.7207.amended  440.7208  440.7208.amended  440.7209  440.7209.amended  440.7210  440.7210.amended  Next

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Last modified: September 2, 2013