Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 7 - Documents of Title, 55-7-101 through 55-7-807. > Section 55-7-205 - Title under warehouse receipt defeated in certain cases.

Section 55-7-205 - Title under warehouse receipt defeated in certain cases.

55-7-205. Title under warehouse receipt defeated in certain cases.

A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt even if the receipt is negotiable and has been duly negotiated.