Section 23 of WDR Act : Section 23: Issue Of Duplicate Receipt

WDR Act

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Explanation using Example

Imagine a farmer, Mr. Sharma, who decides to store his harvested wheat in a local warehouse managed by ABC Warehousing Company. After inspecting and weighing the wheat, the warehouseman issues a warehouse receipt to Mr. Sharma that details the quantity, quality, and grade of the wheat received.

Later, Mr. Sharma requires a loan for his next planting season and uses the warehouse receipt as collateral. The bank accepts the receipt and provides the loan, trusting that the receipt accurately represents the ...

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