§ 26-1-7-202 — Form of warehouse receipt; essential terms; optional terms

Indiana § 26-1-7-202

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 7: Documents of Title

Text

(a) A warehouse receipt need not be in any
particular form.
(b) Unless a warehouse receipt provides for each of the following,
the warehouse is liable for damages caused to a person injured by its
omission:
(1) a statement of the location of the warehouse facility where the
goods are stored;
(2) the date of issue of the receipt;
(3) the unique identification code of the receipt;
(4) a statement whether the goods received will be delivered to
the bearer, to a named person, or to a named person or the
person's order;
(5) the rate of storage and handling charges, unless goods are
stored under a field warehousing arrangement, in which case a
statement of that fact is sufficient on a nonnegotiable receipt;
(6) a description of the goods or the packages containing them;
(7) the signature of the warehouse or its agent;
(8) if the receipt is issued for goods that the warehouse owns,
either solely, jointly, or in common with others, the fact of that
ownership; and
(9) a statement of the amount of advances made and of liabilities
incurred for which the warehouse claims a lien or security interest
unless the precise amount of advances made or liabilities incurred
at the time of the issue of the receipt is unknown to the warehouse
or to its agent that issued the receipt, in which case a statement of
the fact that advances have been made or liabilities incurred and
the purpose of the advances or liabilities is sufficient.
(c) A warehouse may insert in its receipt any terms that are not
contrary to the provisions of IC 26-1 and do not impair its obligation of
delivery under section 403 of this chapter or its duty of care under
section 204 of this chapter. Any contrary provisions are ineffective.
Formerly: Acts 1963, c.317, s.7-202. As amended by
P.L.152-1986, SEC.248; P.L.143-2007, SEC.31.