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Credit Transactions Notes
Warehouse Receipts Law
Warehouse Receipt Form of security for the loans Common for farmers who borrow bonds for their crops Use previous crops for their security and stored in warehouses Warehouseman Accept storage for money Not considered warehouse receipt if not given by a warehouse receipt Note: Expose warehouseman to liability if the contents of the warehouse receipt are not complete. Incomplete warehouse receipt does NOT mean the receipt is void already. If theres a error/ defect (substantial) in the form of receipt = consider it as a contract of deposit and be liable under the CC and not warehouse receipt law (not considered void) Negotiable
