Missouri § 411.581 Warranties on negotiation or transfer of receipt.

Missouri Statutes

§ 411.581 — Warranties on negotiation or transfer of receipt.

Missouri § 411.581

Title XXVITRADE AND COMMERCE

Ch. 411Missouri Grain Warehouse Law

This text of Missouri § 411.581 (Warranties on negotiation or transfer of receipt.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 411.581 (2026).

Text

A person who for value negotiates or transfers a receipt by endorsement or delivery, including one who assigns for value a claim secured by a receipt unless a contrary intention appears, warrants:

(1)That the receipt is genuine;

(2)That he has a legal right to negotiate or transfer it;

(3)That he has knowledge of no fact which would impair the validity or worth of the receipt; and

(4)That he has a right to transfer the title to the grain, and that the grain is merchantable or fit for a particular purpose whenever such warranties would have been implied if the contract of the parties had been to transfer the grain without receipts represented thereby.

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A person who for value negotiates or transfers a receipt by endorsement or delivery, including one who assigns for value a claim secured by a receipt unless a contrary intention appears, warrants:

(1) That the receipt is genuine;

(2) That he has a legal right to negotiate or transfer it;

(3) That he has knowledge of no fact which would impair the validity or worth of the receipt; and

(4) That he has a right to transfer the title to the grain, and that the grain is merchantable or fit for a particular purpose whenever such warranties would have been implied if the contract of the parties had been to transfer the grain without receipts represented thereby.