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Current as of January 01, 2023 | Updated by FindLaw Staff
A nonnegotiable receipt shall be plainly printed or stamped on its face by the warehouseman issuing it “nonnegotiable” or “not negotiable.” In case of the warehouseman's failure to do so, a holder of the receipt, or receipts, who purchased it for value, supposing it to be negotiable, may, at his option, treat such receipt as imposing upon the warehouseman the same liability he would have incurred, had the receipt been negotiable. This section shall not apply, however, to letters of memorandum, or written acknowledgment of an informal character.
Cite this article: FindLaw.com - Kansas Statutes Chapter 34. Grain and Forage § 34-245. Failure to mark nonnegotiable or not negotiable - last updated January 01, 2023 | https://codes.findlaw.com/ks/chapter-34-grain-and-forage/ks-st-sect-34-245/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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