Section 21 of WDR Act : Section 21: Conclusiveness Of Negotiable Warehouse Receipt

Explanation using Example

Imagine John buys a large quantity of wheat and stores it in a warehouse managed by XYZ Storage Co. He receives a negotiable warehouse receipt from XYZ Storage Co. that describes the quantity and quality of the wheat stored. A few months later, John sells the wheat to Emily and endorses the negotiable warehouse receipt to her in exchange for payment. Emily, now in possession of the receipt, is ...

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