Home/Illinois/Statutes/Topic: BUSINESS AND EMPLOYMENT/Ch. 810: COMMERCIAL CODE/Act 810 ILCS 5/: Uniform Commercial Code./Art.: Article 7 - Documents of Title/§ 7-205
Illinois Statutes

§ 7-205 — Title under warehouse receipt defeated in certain cases

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 7 - Documents of Title
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.

Free access — add to your briefcase to read the full text and ask questions with AI

Illinois § 7-205 (Title under warehouse receipt defeated in certain cases) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(Source: P.A. 95-895, eff. 1-1-09.)

Nearby Sections

15
§ 7-101
Short title
§ 7-102
Definitions and index of definitions
§ 7-103
Relation of Article to treaty or statute
§ 7-104
Negotiable and nonnegotiable document of title
§ 7-105
Reissuance in alternative medium
§ 7-106
Control of electronic document of title
§ 7-201
§ 7-201
§ 7-202
Form of warehouse receipt; effect of omission
§ 7-203
Liability for non-receipt or misdescription
§ 7-204
§ 7-204
§ 7-205
Title under warehouse receipt defeated in certain cases
§ 7-206
Termination of storage at warehouse's option
§ 7-207
Goods must be kept separate; fungible goods
§ 7-208
Altered warehouse receipts
§ 7-209
Lien of warehouse
View on official source ↗