Missouri Laws 411.571 – Transferor of receipt to endorse
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Terms Used In Missouri Laws 411.571
- Delivery: the voluntary physical transfer of grain from one person to another. See Missouri Laws 411.026
- Receipt: a grain warehouse receipt, whether negotiable or nonnegotiable, issued under this chapter. See Missouri Laws 411.026
Where a negotiable receipt is transferred for value by delivery, and the endorsement of the transferor is essential for negotiation, the transferee acquires a right against the transferor to compel him to endorse the receipt unless a contrary intention appears. The negotiation shall take effect as of the time when the endorsement is actually made.