HRS 0490-0007-0207 ANNOTATIONS

Prior Uniform Statutory Provision: Sections 22 and 23, Uniform Warehouse Receipts Act.

Changes: Consolidated and revised; holders of overissued receipts permitted to share in mass of fungible goods.

Purposes of Changes:

No change of substance is made other than the explicit statement that holders to whom overissued receipts have been duly negotiated shall share in a mass of fungible goods. Where individual ownership interests are merged into claims on a common fund, as is necessarily the case with fungible goods, there is no policy reason for discriminating between successive purchasers of similar claims.

Definitional Cross References:

"Delivery". Section 1-201.

"Duly negotiate". Section 7-501.

"Fungible" goods. Section 1-201.

"Goods". Section 7-102.

"Holder". Section 1-201.

"Person". Section 1-201.

"Warehouse receipt". Section 1-201.

"Warehouseman". Section 7-102.