A buyer in the ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling the goods takes free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.
Miss. Code Ann. § 75-7-205
Title under warehouse receipt defeated in certain cases
Known as the Uniform Commercial Code
The act spans §§ 75–75 (480 sections).
Codes, 1942, § 41A:7-205; Laws, 1966, ch. 316, § 7-205; Laws, 2006, ch. 527, § 10, eff from and after July 1, 2006.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.