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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1307.207 | Goods must be kept separate; fungible goods - UCC 7-207.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1307 Documents Of Title
 
Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
PDF:
Download Authenticated PDF
 

Goods must be kept separate; fungible goods [UCC 7-207]

(A) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible goods may be commingled.

(B) If different lots of fungible goods are commingled, the goods are owned in common by the persons entitled thereto and the warehouse is severally liable to each owner for that owner's share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts the warehouse has issued against it, the persons entitled include all holders to which overissued receipts have been duly negotiated.

Available Versions of this Section