Point in Time - Warehouse Receipt Act

“Point in Time” Act Content

WAREHOUSE RECEIPT ACT

[RSBC 1996] CHAPTER 481

SECTION	EFFECTIVE DATE
NOTE: Links below go to act content as it was prior to the changes made on the effective date. (PIT covers changes made from September 6, 2000 to "current to" date of the act.)
1	March 10, 2016
8	March 30, 2023
25	March 10, 2016

Section 1, definition of "warehouse receipt" BEFORE amended by 2016-5-39,Sch 1, effective March 10, 2016 (Royal Assent).

"warehouse receipt" means an acknowledgment in writing by a warehouser of the receipt for storage of goods not owned by the warehouser;

Section 8 (1) BEFORE amended by 2023-10-1160, effective March 30, 2023 (Royal Assent).

(1) Except as provided in section 18, if a warehouser

(a) delivers goods for which the warehouser has issued a negotiable receipt, and

(b) fails to take up and cancel the receipt,

the warehouser is liable for failure to deliver the goods to anyone who purchases the receipt in good faith and for valuable consideration, whether he or she acquired title to the receipt before or after delivery of the goods by the warehouser.

Section 25 BEFORE amended by 2016-5-42,Sch 4, effective March 10, 2016 (Royal Assent).

Endorser not guarantor

25 The endorsement of a receipt does not make the endorser liable for any failure on the part of the warehouser or previous endorsers of the receipt to fulfil their respective obligations.