Section 11 of WDR Act : Section 11: Warehouse Receipts

Explanation using Example

Imagine a farmer named Raj who harvests a large quantity of wheat. He decides to store this wheat in a registered warehouse to ensure its safekeeping and to be able to sell it at a later date when market prices are favorable. Upon depositing his wheat at the warehouse, he is issued a warehouse receipt, which serves as proof of storage and title to the goods.

The warehouse receipt Raj receives includes:

• A unique receipt number for identification;
• The warehouse's registration number and the validity date of that registration;
• The name and full postal address of the warehouse where the wheat is stored;
• Raj's name and address, as the depositor;
• The date on which the receipt was issued;
• A statement that the wheat will be delivered to Raj or to a person he designates;
• The rates Raj wil...

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