Virginia Code 8.7-205: Title under warehouse receipt defeated in certain cases
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A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouseman who is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even though the receipt is negotiable and has been duly negotiated.
Terms Used In Virginia Code 8.7-205
- Goods: means all things that are treated as movable for the purposes of a contract of storage or transportation. See Virginia Code 8.7-102
- Warehouseman: is a person engaged in the business of storing goods for hire. See Virginia Code 8.7-102
1964, c. 219; 2004, c. 200.