Wisconsin Statutes
Wis. Stat. § 407.205 (2026)
Title under warehouse receipt defeated in certain cases
✓ current as of July 2026
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407.205407.205 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.
Notes of Decisions
Cited in 1
case, 1982–1982 · leading case: Robert L. Preston v. United States, 696 F.2d 528 (7th Cir. 1982).
Robert L. Preston v. United States, 696 F.2d 528 (7th Cir. 1982). “Our holding does not conflict with § 7-205 of the UCC (Wis.Stat. § 407.205): A Buyer in the ordinary course of business of fungible goods sold and delivered by a warehouseman who is also in the business of buying and selling such goods takes free of any claim under a warehouse…”
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