34-256. Altered receipts.
34-256
34-256. Altered receipts.The alteration of a receipt shall not excuse the warehouseman who issuedit from any liability if such alteration was (a) immaterial, (b)authorized, or (c) made without fraudulent intent. If the alteration wasauthorized, the warehouseman shall be liable according to the terms of thereceipt as altered. If the alteration was unauthorized, but made withoutfraudulent intent, the warehouseman shall be liable according to the termsof the receipt, as they were before alteration. Material and fraudulentalteration of a receipt shall not excuse the warehouseman who issued itfrom liability to deliver, according to the terms of the receipt asoriginally issued, the grain for which it was issued, but shall excuse himfrom any other liability to the person who made the alteration and to anyperson who took with notice of the alteration. Any purchaser of the receiptfor value without notice of the alteration shall acquire the same rightsagainst the warehouseman which such purchaser would have acquired if thereceipt had not been altered at the time of the purchase.
History: L. 1931, ch. 194, § 34; July 1.