Act Number: 37

Act Name: The Warehousing (Development and Regulation) Act, 2007

Year: 2007

Enactment Date: 2007-09-19

Long Title: An Act to make provisions for the development and regulation of warehouses, negotiability of warehouse receipts, establishment of a Warehousing Development and Regulatory Authority and for matters connected therewith or incidental thereto.

Ministry: Ministry of Consumer Affairs, Food and Public Distribution

Department: Department of Food and Public Distribution

Section 15: Warranties on negotiation of warehouse receipts.
    A person who, for valuable consideration, negotiates a negotiable warehouse receipt by endorsement and delivery, including one who assigns for valuable consideration, a claim secured by a receipt, unless a contrary intention appears, warrants the following:--
         (a) that the receipt is genuine;
         (b) that the person has a legal right to negotiate or transfer it;
         (c) that the person has no knowledge of any fact that would impair the validity of the receipt;
         (d) that the person has a right to transfer the title to the goods; and
         (e) that the goods are merchantable or fit for a particular purpose when those warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented by it.
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