Michigan Compiled Laws 174-1962-7-2 Part 2 Warehouse Receipts: Special Provisions (440.7201...440.7210)

• Section 440.7201 Warehouse Receipt; Issuance; Storage Under Government Bond.
  (1) A warehouse receipt may be issued by any warehouse. (2) If distilled spirits, agricultural commodities, or any other goods are stored under a...
• Section 440.7202 Terms Of Receipt; Form; Contrary Provisions.
  (1) A warehouse receipt need not be in any particular form. (2) Unless a warehouse receipt provides for each of the following, the warehouse...
• Section 440.7203 Liability For Nonreceipt Or Misdescription.
  A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon...
• Section 440.7204 Duty Of Care; Contractual Limitation Of Warehouse Liability; Provisions As To Time And Manner Of Presenting Claims And Commencing Actions.
  (1) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard...
• Section 440.7205 Fungible Goods; Buyer's Title.
  A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of...
• Section 440.7206 Termination Of Storage At Warehouse's Option; Removal Or Sale; Notice; Delivery; Satisfaction Of Lien.
  (1) A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an...
• Section 440.7207 Separation Of Goods; Commingling Of Fungible Goods; Overissued Receipts.
  (1) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all...
• Section 440.7208 Alteration Of Warehouse Receipts.
  If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good faith purchaser for value and without notice...
• Section 440.7209 Warehouse's Lien; Security Interest; "Household Goods" Defined; Loss Of Lien.
  (1) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds...
• Section 440.7210 Warehouse's Lien; Enforcement Procedure; Liability For Noncompliance.
  (1) Except as otherwise provided in subsection (2), a warehouse's lien may be enforced by public or private sale of the goods, in bulk...

Last modified: October 10, 2016