Wisconsin Statutes 407.208 – Altered warehouse receipts
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 407.208
- Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Wisconsin Statutes 407.102
- Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Wisconsin Statutes 407.102
- Warehouse: means a person engaged in the business of storing goods for hire. See Wisconsin Statutes 407.102
If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration leaves any tangible or electronic warehouse receipt enforceable against the issuer according to its original tenor.