The Warehousing (Development and Regulation) Act, 2007 15Chapter IV · Warehouse Receipts
Section 15 · Warranties on negotiation of warehouse receipts
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A person who, for valuable consideration,
negotiates a negotiable warehouse receipt by endorsement and delivery, including one who assigns for
valuable consideration, a claim secured by a receipt, unless a contrary intention appears, warrants the
following:--
(a) that the receipt is genuine;
(b) that the person has a legal right to negotiate or transfer it;
(c) that the person has no knowledge of any fact that would impair the validity of the receipt;
(d) that the person has a right to transfer the title to the goods; and
(e) that the goods are merchantable or fit for a particular purpose when those warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented by it.
(a) that the receipt is genuine;
(b) that the person has a legal right to negotiate or transfer it;
(c) that the person has no knowledge of any fact that would impair the validity of the receipt;
(d) that the person has a right to transfer the title to the goods; and
(e) that the goods are merchantable or fit for a particular purpose when those warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented by it.
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