400.7-207. Goods must be kept separate--fungible goods.

Goods must be kept separate--fungible goods.

400.7-207. (1) Unless the warehouse receipt otherwiseprovides, a warehouseman must keep separate the goods covered byeach receipt so as to permit at all times identification anddelivery of those goods except that different lots of fungiblegoods may be commingled.

(2) Fungible goods so commingled are owned in common by thepersons entitled thereto and the warehouseman is severallyliable to each owner for that owner's share. Where because ofoverissue a mass of fungible goods is insufficient to meet allthe receipts which the warehouseman has issued against it, thepersons entitled include all holders to whom overissued receiptshave been duly negotiated.

(L. 1963 p. 503 § 7-207)