A warehouse receipt:
A) is not a document of title.
B) is a receipt issued by a person engaged in the business of storing goods for hire.
C) grants a lien enabling a warehouser to sell goods only at a public sale.
D) All of these.

Question

Quizplus · Accepted Answer

A warehouse receipt is a document issued by a person or company engaged in the business of storing goods for hire. It is evidence of the receipt of the goods and the transfer of possession from the depositor to the warehouseman. A warehouse receipt is commonly used as collateral for a loan or as proof of ownership for insurance purposes. It is not a document of title, meaning that ownership of the goods cannot be transferred solely by the transfer of the warehouse receipt.

A Warehouse Receipt