The alteration of a receipt shall not excuse the warehouseman who issued it from any liability if the alteration was:

(1) Immaterial;

Terms Used In Missouri Laws 411.551

  • 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
  • Person: means and includes any individual, firm, partnership, exchange, association, trustee, receiver, corporation, cooperative, society, public body, political subdivision, or any other business or commercial entity or organization of any kind whatsoever, and any member, officer or employee thereof. 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

(2) Authorized; or

(3) Made without fraudulent intent.

­­

­

If the alteration was authorized, the warehouseman shall be liable according to the terms of the receipt as altered. If the alteration was unauthorized, but made without fraudulent intent, the warehouseman shall be liable according to the terms of the receipt, as they were before alteration. Material and fraudulent alteration of a receipt shall not excuse the warehouseman who issued it from liability to deliver, according to the terms of the receipt as originally issued, the grain for which it was issued, but shall excuse him from any other liability to the person who made the alteration and to any person who took with notice of* the alteration. Any purchaser of the receipt for value without notice of the alteration shall acquire the same rights against the warehouseman which the purchaser would have acquired if the receipt had not been altered at the time of the purchase.

  Previous section
Next section  
 Chapter 411 Contents