A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.
N.C. Gen. Stat. § 25-7-205
Title under warehouse receipt defeated in certain cases
Known as the Uniform Commercial Code
The act spans §§ 25-1-101 to 25-9-710 (616 sections).
1965, c. 700, s. 1; 2006-112, s. 25.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.