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Types of Warehouse Receipts and Negotiable Definition Quiz
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Types of Warehouse Receipts and Negotiable Definition Quiz

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Where, by the terms of a negotiable receipt, the goods are deliverable to ______ or where a negotiable receipt has been indorsed in blank or to bearer, any holder may indorse in such case the receipt shall thereafter be negotiated only by the indorsement by such indorsee.

bearer

A negotiable receipt may be negotiated by the indorsement of the person to whose order the goods are, by the terms of the receipt, ______.

deliverable

Such indorsement may be in ______, to bearer, or to a specified person.

blank

If indorsed to a specified person, it may be again negotiated by the indorsement of such person in ______, to bearer or to another specified person.

<p>blank</p> Signup and view all the answers

Subsequent negotiation may be made in like ______.

<p>manner</p> Signup and view all the answers

A receipt in which it is stated that the goods received will be delivered to the ______ or to the order of any person named in such receipt is a negotiable receipt.

<p>bearer</p> Signup and view all the answers

No provision shall be inserted in a negotiable receipt that it is ______.

<p>non-negotiable</p> Signup and view all the answers

A negotiable receipt may be negotiated by the ______ thereof.

<p>owner</p> Signup and view all the answers

A negotiable receipt may be negotiated by delivery where, by the terms of the receipt, the warehouseman undertakes to deliver the goods to the ______.

<p>bearer</p> Signup and view all the answers

A negotiable receipt may be negotiated by delivery where, by the terms of the receipt, the warehouseman undertakes to deliver the goods to the order of a specified person, and such person or a subsequent indorsee of the receipt has indorsed it in blank or to ______.

<p>bearer</p> Signup and view all the answers

Who may negotiate a receipt.— A negotiable receipt may be negotiated: By the ______ thereof.

<p>owner</p> Signup and view all the answers

A non-negotiable receipt cannot be ________

<p>negotiated</p> Signup and view all the answers

A provision cannot be inserted in a negotiable receipt to the effect that it is ________

<p>non-negotiable</p> Signup and view all the answers

A ________ cannot negotiate a negotiable receipt

<p>thief</p> Signup and view all the answers

The depositor or his assignee can transfer a ________ receipt

<p>non-negotiable</p> Signup and view all the answers

The transferee of a non-negotiable instrument merely steps into the ________ of the transferor

<p>shoes</p> Signup and view all the answers

A receipt which is not in such form that it can be negotiated by delivery may be transferred by the holder by ________ to a purchaser or donee

<p>delivery</p> Signup and view all the answers

In a non-negotiable receipt, before the NOTIFICATION OF THE WAREHOUSEMAN, the TITLE OF THE TRANSFEREE TO THE GOODS AND THE RIGHT TO ACQUIRE THE OBLIGATION of the warehouseman MAY BE DEFEATED by the LEVY OF THE ________ upon the goods by the creditor of the transferer

<p>ATTACHMENT</p> Signup and view all the answers

It is the NOTICE TO THE WAREHOUSEMAN that LEGALLY TRANSFERS ownership over the commodities to the ________-buyer

<p>assignee</p> Signup and view all the answers

If goods are delivered to a warehouseman by the owner and a negotiable receipt is issued for them, they cannot thereafter, while in the possession of the warehouseman, be attached by a ________ or otherwise

<p>garnishment</p> Signup and view all the answers

The warehouseman CANNOT be compelled to deliver the actual possession of the goods until the receipt is surrendered to him or impounded by the ________

<p>court</p> Signup and view all the answers

Before the notification of the warehouseman by the transfer, or transferee of a non-negotiable receipt, the title of the transferee to the goods and the right to acquire the obligation of the warehouseman may be defeated by the levy of an attachment or execution upon the goods by a creditor of the ______, or by a notification to the warehouseman by the ______ or a subsequent purchaser from the ______ of the subsequent sale of the goods by the ______

<p>transferer</p> Signup and view all the answers

UNLESS the receipt be first surrendered to the warehouseman or its ________ enjoined

<p>negotiation</p> Signup and view all the answers

If the ______ is non-negotiable, such person acquires the right to notify the warehouseman of the transfer to him of such ______, and thereby to acquire the direct obligation of the warehouseman to hold possession of the goods for him according to the terms of the ______. Prior to the notification of the warehouseman by the transferor or transferee of a non-negotiable ______, the title of the transferee to the goods and the right to acquire the obligation of the warehouseman may be defeated by the levy of an attachment or execution upon the goods by the creditor of the transferor, or by a notification to the warehouseman by the transferor or a subsequent purchaser from the transferor of a subsequent sale of the goods by the transferor. RIGHTS OF PERSON TO WHOM NEGOTIABLE RECEIPT WAS TRANSFERRED WITHOUT INDORSEMENT SECTION 43, ACT NO. 2137, AS AMENDED. Transfer of negotiable ______ without indorsement.— Where a negotiable ______ is transferred for value by delivery, and the indorsement of the transferor is essential for negotiation, the transferee acquires a right against the transferor to compel him to indorse the ______, unless a contrary intention appears. The negotiation shall take effect as of the time when the indorsement is actually made. NON-NEGOTIABLE DEFINITION SECTION 4, ACT NO. 2137, AS AMENDED. Definition of non-negotiable ______.

<p>receipt</p> Signup and view all the answers

If the ______ is non-negotiable, such person also acquires the right to notify the warehouseman of the transfer to him of such ______, and thereby to acquire the direct obligation of the warehouseman to hold possession of the goods for him according to the terms of the ______.

<p>receipt</p> Signup and view all the answers

Where a negotiable ______ is transferred for value by delivery, and the indorsement of the transferor is essential for negotiation, the transferee acquires a right against the transferor to compel him to indorse the ______, unless a contrary intention appears.

<p>receipt</p> Signup and view all the answers

The negotiation shall take effect as of the time when the indorsement is actually made. NON-NEGOTIABLE DEFINITION SECTION 4, ACT NO. 2137, AS AMENDED. Definition of non-negotiable ______.

<p>receipt</p> Signup and view all the answers

Prior to the notification of the warehouseman by the transferor or transferee of a non-negotiable ______, the title of the transferee to the goods and the right to acquire the obligation of the warehouseman may be defeated by the levy of an attachment or execution upon the goods by the creditor of the transferor, or by a notification to the warehouseman by the transferor or a subsequent purchaser from the transferor of a subsequent sale of the goods by the transferor. RIGHTS OF PERSON TO WHOM NEGOTIABLE RECEIPT WAS TRANSFERRED WITHOUT INDORSEMENT SECTION 43, ACT NO. 2137, AS AMENDED. Transfer of negotiable ______ without indorsement.

<p>receipt</p> Signup and view all the answers

Transfer of negotiable ______ without indorsement.— Where a negotiable ______ is transferred for value by delivery, and the indorsement of the transferor is essential for negotiation, the transferee acquires a right against the transferor to compel him to indorse the ______, unless a contrary intention appears.

<p>receipt</p> Signup and view all the answers

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