Missouri Laws 411.541 – Failure to mark receipt upon delivery of part of grain — warehouseman ..
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 411.541
- Delivery: the voluntary physical transfer of grain from one person to another. See Missouri Laws 411.026
- Grain: all grains for which standards have been established under the United States Grain Standards Act (Sections 71 to 87 of Title 7, United States Code), and any other agricultural commodities, seeds and vegetable oils prescribed by the director by regulation, except the term "grain" shall not include those commodities deemed not to be grain pursuant to section 411. See Missouri Laws 411.026
- Receipt: a grain warehouse receipt, whether negotiable or nonnegotiable, issued under this chapter. See Missouri Laws 411.026
- warehouseman: any person who owns, controls, operates or manages any warehouse whether such owner resides within the state or not. See Missouri Laws 411.026
Except as provided, when a warehouseman delivers in whole or in part the grain for which he had issued a negotiable receipt and fails either to take up and cancel the receipt, or to place plainly upon it a statement of what grain had been delivered, he is liable to anyone who purchases for value in good faith the receipt, for failure to deliver all the grain specified in the receipt, whether the purchaser acquired title to the receipt before or after the delivery of any portion of the grain by the warehouseman.