Warehouse Receipts Law

A. Cases

1. Effects of negotiation of warehouse receipts

a. Philippine Trust Co. vs. National Bank (42 Phil. 413, 1922)
2. Warehouseman’s defenses for non-delivery or misdelivery
a. Philippine National Bank vs. Sayo, Jr., (GR No. 129918, July 9, 1998)

B. For discussion

1. What is a warehouse receipt?

2. What are the functions of documents of title?
3. Is a warehouse receipt a negotiable instrument?
a. When is a warehouse receipt considered a negotiable receipt?
4. What are the essential terms that must be embodied in a warehouse receipt?
a. Will a warehouse receipt be invalidated by the absence in its form of any of
the provisions prescribed by law?
4. Discuss how the following warehouse receipts may be negotiated
a. goods are deliverable to the bearer;
b. goods deliverable to the order of a specified person
5. What are the effects if the warehouse receipt that is deliverable to the
order of a specified person was only delivered?
6. What are the effects of negotiation of a warehouse receipt?
7. Will the transfer of title to goods represented by a warehouse receipt to a
purchaser for value be affected by the rights of the vendor?
8. Who may negotiate a warehouse receipt?
a. What are the warranties of the transferor?
9. What are non-negotiable receipts?
10. Will the transferee of a non-negotiable receipt acquire any rights
therefrom? What are his rights, if any?
11. Can a warehouseman validly refuse to deliver goods covered by
warehouse receipts?
12. What is a warehouseman’s lien?
13. Discuss the options of a warehouseman when the goods are subject of
adverse claims by two or more persons.
14. Can goods covered by warehouse receipts and while in the possession of
the warehouseman be attached or levied?
15. What are the remedies of the creditors that would allow them to reach
negotiable receipts?