§ 55-7-202 — Form of warehouse receipt; effect of omission

New Mexico § 55-7-202

• Jurisdiction: New Mexico
• Ch. 55: Uniform Commercial Code
• Art. 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 its 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, a statement of 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 Uniform Commercial Code and do not impair its obligation of delivery under Section 55- 7-403 NMSA 1978 or its duty of care under Section 55-7-204 NMSA 1978. Any contrary provision is ineffective.

Legislative History

1953 Comp., § 50A-7-202, enacted by Laws 1961, ch. 96, § 7-202; 2005, ch.