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DOCUMENTS OF TITLE TO GOODS

IN GENERAL
Laws governing documents of title to goods
The New Civil Code, Articles 1507-1520, the Warehouse Receipts Act or Act
No. 2137, ad the !eeral "oded Warehouse Act or Act No. 3#$3.
Warehouse Receipts Law v. General Bonded Warehouse Law
Act 2137 or the Warehouse Receipts %aw prescri&es the 'utual ri(hts ad
duties o) a warehouse'a, who issues warehouse receipts, ad his depositor,
ad covers all warehouses, whether &oded or ot.
Act 3#$3, as a'eded, or the !eeral "oded Warehouse %aw re(ulates ad
supervises warehouses which put up a &od.
Warehouse Receipts Law v. Documents of Title under the Civil Code
The Warehouse Receipts %aw re)ers to warehouse receipts issued &* a
warehouse'a.
+ocu'ets o) title uder the Civil Cod re)er to other receipts o) docu'ets
issued i &ail'et cotracts other tha warehouse receipts.
Common kinds of documents of title to goods
1. "ill o) ladi(
2. Warehouse receipt
3. +oc, warrat
Bill of lading
A &ill o) ladi( is a writte ac,owled('et o) the receipt o) the (oods ad
a a(ree'et to trasport ad to deliver the' at a speci-ed place to a
perso a'ed or his order. The perso who delivers the (oods )or ship'et
or trasportatio is ,ow as the shipper. The perso to who' the (oods are
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
stated therei to &e delivered is ,ow as the cosi(ee. The shipper ad the
cosi(ee 'a* &e the sa'e perso or di.eret persos as stated i the &ill
o) ladi(.
Warehouse receipt
A warehouse receipt is a writte ac,owled('et &* the warehouse'a that
he has received the (oods descri&ed therei ad holds the sa'e )or the
perso to who' it is issued or as the latter 'a* order.
/t is a cotract &etwee the ower o) the (oods or the perso authori0ed &*
the ower to tras)er owership or possessio over the (oods, o oe had,
ad the warehouse'a, o the other had, )or the latter to store the (oods
ad the )or'er to pa* the co'pesatio )or that service.
Quedan
A quedan is a warehouse receipt.
Dock warrant
A doc, warrat is a warrat (ive &* the doc, ower to the ower o) the
(oods i'ported ad warehoused o the doc, upo the )aith o) the &ill o)
ladi(, as a reco(itio o) the latter1s title t the (oods.
DOCUMENTS OF TITLE UNDER THE CIVIL CODE
egotia!le document of title to goods
/t is a receipt or docu'et i which it is stated that the (oods received will &e
delivered to the &earer or to the order o) a* perso a'ed therei. 2Article
1507, Civil Code3
"ow does a valid receipt or document of title to goods come into
e#istence$
A valid receipt or docu'et o) title to (oods co'es ito e4istece whe it is
issued )or (oods delivered to the warehouse'a or depositar*5&ailee &* the
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
ower or &* a perso whose act i cove*i( the title to &e (oods to a
purchaser i (ood )aith )or value would &id the ower.
WAREHOUSE RECEIPTS LAW
Act No. 2137
IN GENERAL
Warehouse receipt
A warehouse receipt is a writte ac,owled(e'et &* a warehouse'a that
he has received ad holds certai (oods i his warehouse )or the perso to
who' the docu'et is issued.
Warehouseman
A warehouse'a is a perso law)ull* e(a(ed i the &usiess o) stori(
(oods )or pro-t.
Warehouse receipt v. negotia!le instruments
A warehouse receipt, eve i) e(otia&le, is ot a e(otia&le istru'et withi
the 'eai( o) the Ne(otia&le /stru'ets %aw, )or the )ollowi( reasos6
1. / e(otia&le istru'ets, the su&7ect is 'oe*8 i warehouse
receipts, the su&7ect is 'erchadise8
2. / e(otia&le istru'ets, the istru'et itsel) is the o&7ect o) value8
i warehouse receipts, the (oods are the o&7ects o) value8 ad
3. / e(otia&le istru'ets, iter'ediate parties &eco'e secodaril*
lia&le8 i warehouse receipts, iter'ediate parties are ot lia&le )or
the warehouse'a9s )ailure to deliver the (oods.
Who can issue warehouse receipt$
A warehouse receipt 'a* &e issued &* a warehouse'a, whether pu&lic or
private, &oded or ot. A perso authori0ed &* a warehouse'a 'a* issue
warehouse receipts.
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
%ssential terms of a warehouse receipt
1. The locatio o) the warehouse
2. +ate o) issue o) the receipt
3. Nu'&er o) the receipt
:. ;tate'et whether the stored (oods are delivera&le to &earer, to a speci-ed
perso, or his order
5. ;tora(e char(e
<. +escriptio o) the stored (oods
7. ;i(ature o) the warehouse'a or his a(et
#. The )act o) the warehouse'a9s owership i the (oods, i) a*
$. ;tate'et o) advaces 'ade ad lia&ilities icurred &* the depositor )or
which the lie was costituted
Terms which cannot !e included
1. Ter's cotrar* to the Warehouse Receipts %aw
2. Ter's reduci( the de(ree o) dili(ece i'posed &* the law o the
warehouse'a
CLASSES OF RECEIPTS
Classes of receipts
1. Ne(otia&le warehouse receipts
2. No-e(otia&le warehouse receipts
egotia!le warehouse receipt
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
A e(otia&le warehouse receipt is a warehouse receipt wherei it is e4pressl*
stated that the (oods are delivera&le to &earer or to the order o) a perso
speci-ed therei.
A warehouse receipt stati( that the (oods are delivera&le to &earer is a
e(otia&le warehouse receipt. /) the words "non-negotiable" are iserted i
the receipt, the isertio is void, ad the receipt re'ais e(otia&le.
on&negotia!le warehouse receipt
A o-e(otia&le warehouse receipt is a warehouse receipt i which it is
stated that the (oods received will &e delivered to the depositor or to a*
speci-ed perso. The receipt should &e sta'ped o its )ace "non-negotiable."
A holder o) a o-e(otia&le receipt ot sta'ped "non-negotiable" &elievi(
it to &e e(otia&le 'a* treat the receipt at e(otia&le.
A o-e(otia&le warehouse receipt, i) ot sta'ped with the words "non-
negotiable," 'a* 'a,e a warehouse'a lia&le )or da'a(es su.ered &* a
holder o) such receipt who purchases it )or value supposi( it to &e
e(otia&le.
The said holder 'a* treat, as his optio, such receipt as i'posi( upo the
warehouse'a the sa'e lia&ilities he would have icurred had the receipt
&ee e(otia&le.
egotia!le v. non&negotia!le warehouse receipt
1. +i.erece i 'aer o) tras)er. A e(otia&le warehouse receipt is
e(otiated &* either &* deliver* or idorse'et8 a o-e(otia&le receipt
'a* &e tras)erred &* its deliver* to the tras)eree acco'paied &* a deed
o) assi('et, doatio or other )or' o) tras)er.
2. +i.erece i e.ect o ri(hts o) idorsee5tras)ere. Whole tras)eree i either
case ac=uires title, idorsee o) a e(otia&le warehouse receipts ac=uires the
direct o&li(atio o) the warehouse'a to hold possessio o) the (oods )or
hi' while a tras)eree o) a o-e(otia&le warehouse receipt ol* ac=uires
the ri(ht to i)or' the warehouse'a o) such tras)er ad therea)ter
ac=uires also the o&li(atio o) the warehouse'a to hold possessio o) the
(oods )or hi'.
OBLIGATIONS, DUTIES AND RIGHTS OF THE WAREHOUSEMAN
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DOCUMENTS OF TITLE TO GOODS &
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'!ligations of the warehouseman
1. +ut* to deliver* the (oods upo de'ad 'ade &* the holder o) the receipt or
&* the depositor.
2. To e4ercise such care i re(ard to the (oods as a reasoa&l* care)ul ower o)
si'ilar (oods would e4ercise
3. To ,eep the (oods separate )ro' the (oods o) other depositors, e4cept i the
case o) )u(i&le (oods
'!ligation of the warehouseman to deliver goods deposited
/ the a&sece o) a* law)ul e4cuse provided &* the law, a warehouse'a is
&oud to deliver the (oods upo a de'ad 'ade &* either the holder o) the
receipt )or the (oods or the depositor i) such de'ad is acco'paied with6
1. A o.er to satis)* the warehouse'a1s lie >ol* a pre)eretial ri(ht
which is ot collecti&le?, )ees or char(es8
2. A o.er to surreder the receipt, i) e(otia&le, with such idorse'ets
as would &e ecessar* )or the e(otiatio o) the receipt >the oe
surrederi( is the holder?8 ad
3. A readiess ad willi(ess to si( a receipt, whe the (oods are
delivered, ad ac,owled('et that the* have &ee delivered, i) such
si(ature is re=uested &* the warehouse'a. 2;ectio #, Warehouse
Receipts Act3
To whom to deliver
1. To the perso law)ull* etitled to the (oods
2. To the perso a'ed i a o-e(otia&le receipt or to his assi(ee
3. To the law)ul holder o) a e(otia&le receipt
When refusal to deliver (usti)ed
A warehouse'a 'a* le(all* re)use to deliver (oods covered &* a warehouse
receipt6
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DOCUMENTS OF TITLE TO GOODS &


WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
1. /) he had &ee re=uested &* a perso law)ull* etitled to a ri(ht o)
propert* or possessio i the (oods ot to 'a,e deliver* to a*
perso8
2. i) he had i)or'atio that the deliver* to &e 'ade was to oe ot
law)ull* etitled to the possessio o) the (oods8 or
3. /) several persos clai' the (oods.
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
When several claim the goods
/ case three persos clai' the ri(ht to the possessio o) certai (oods i his
warehouse, the warehouse'a 'a* do the )ollowi(6
1. @irstl*, he ca re)use to deliver the (oods to a*oe o) the' util he
has had reasoa&le ti'e to ascertai the validit* o) the various clai's8
2. ;ecodl*, he ca re=uire all clai'ats to iterplead, either as a
de)ese to a actio &rou(ht a(aist hi' )or o-deliver* o) the (oods,
or as a ori(ial suit, whichever is appropriate.
What is the lia!ilit* of the warehouseman for the care of the goods
stored$
Ae is lia&le )or a* loss or i7ur* to the (oods caused &* his )uture to e4ercise
such care i re(ard to the' as a reasoa&l* care)ul ower o) si'ilar (oods
shall e4ercise. "ut he shall ot &e lia&le i the a&sece o) a a(ree'et to
the cotrar* )or a* loss or i7ur* to the (oods which could ot have &ee
avoided &* the e4ercise o) such care or due dili(ece.
+s the warehouseman under o!ligation to keep the goods separatel*$
What is his lia!ilit* to depositors of commingled goods$
B4cept i the case o) )u(i&le (oods which ca &e co''i(led &* the
warehouse'a i) so authori0ed, a warehouse'a shall ,eep the (oods so )ar
separate )ro' the (oods o) the other depositors ad )ro' other (oods o) the
sa'e depositor )or which a separate receipt has &ee issued as to per'it at
all ti'es the ideti-catio ad redeliver* o) the (oods deposited.
/) the (oods are co''i(led, the warehouse'a shall &e solidarit* or
severall* lia&le to each depositor )or the case ad redeliver* o) his share o)
such 'ass to the sa'e e4tet or uder the sa'e circu'staces as i) the
(oods have &ee ,ept separatel*. 2;ectio 2:, Warehouse Receipts Act3
Goods deposited cannot !e levied upon or attached
While the (oods are i the possessio o) a warehouse'a, uless the receipt
&e -rst surredered to the warehouse'a or its e(otiatio e7oied, the
warehouse'a shall i o case &e co'pelled to deliver the actual possessio
o) the (oods util the receipt is surredered to hi' or i'pouded &* the
court.
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
What remedies are availa!le to the creditors to reach the negotia!le
receipt$
The creditor whose de&tor is the ower o) a e(otia&le receipt shall &e
etitled to such aid )ro' courts o) appropriate 7urisdictio &* i7uctio ad
otherwise i attachi( such receipt or i satis)*i( the clai' &* 'eas
thereo) as is allowed &* law or e=uit* i this 7urisdictio re(ardi( propert*
which caot readil* &e attached or levied upo &* ordiar* le(al process.
RIGHTS OF THE WAREHOUSEMAN
Warehouseman,s liens
The warehouse'a1s lie o the (ood deposited or o the proceeds thereo)
i his hads cosists o) all law)ul char(es )or stora(e ad preservatio o) the
(oods, all law)ul clai's )or 'oe* advaced, iterest, isurace,
trasportatio, la&or, wei(hi(, cooperi(, ad other char(es ad e4peses
i relatio to such (oods, also all reasoa&le char(es ad e4peses )or
otices ad advertise'ets o) sale, ad )or the sale o) the (oods where
de)ault has &ee 'ade i satis)*i( the warehouse'a1s lie.
-gainst what propert* ma* the lien !e enforced$
1. A(aist all (oods, wheever deposited, &elo(i( to the perso who is lia&le
as a de&tor )or the clai's i re(ard to which the lie is asserted8 ad
2. A(aist all (oods &elo(i( to aother which have &ee deposited at a*
ti'e &* the perso who is lia&le as a de&tor )or the clai's i re(ard to which
the lie is asserted i) such perso had &ee so etrusted with the possessio
o) the (oods that a pled(e o) the sa'e &* hi' at the ti'e o) the deposit to
oe who too, the (oods i (ood )aith ad )or value would have &ee valid.
"ow lien enforcea!le
The lie 'a* &e e)orced &* sale at auctio o) the (oods, upo proper otice
ad pu&licatio, i such =uatities suCciet to pa* the lie.
"ow ma* the lien !e lost$
1. "* surrederi( possessio o) the (oods
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DOCUMENTS OF TITLE TO GOODS &
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2. "* re)usi( to deliver the (oods whe a de'ad is 'ade with which he is
&oud to co'pl* uder the law
Does the warehouseman,s lien preclude other remedies$
No. The warehouse'a is etitled to all re'edies allowed &* law to a creditor
a(aist his de&tor )or the collectio )ro' the depositor o) all char(es ad
advaces which the depositor has e4pressl* or i'pliedl* cotracted with the
warehouse'a to pa*.
NEGOTIATION AND TRANSFER OF RECEIPT
NEGOTIABLE WAREHOUSE RECEIPT
When negotia!le
A warehouse receipt is e(otia&le where the (oods are delivera&le to &earer,
or to the order o) a* perso a'ed i such receipt.
"ow negotiated
1. "* deliver*
2. "* idorse'et
egotiation !* deliver*
Where the (oods are delivera&le to &earer, or where delivera&le to a
speci-ed perso or order ad the latter idorses it i &la, or to &earer, the
receipt 'a* &e )urther e(otiated &* deliver*.
egotiation !* indorsement
Where the (oods are 'ade delivera&le to the order o) a speci-ed perso, the
latter 'a* e(otiate &* idorse'et, ad his idorse'et 'a* &e to &earer,
i &la,, or to a speci-ed perso or his order.
Who can negotiate receipt
The e(otia&le receipt 'a* &e e(otiated &* the ower thereo), or &* a
perso to who' the possessio or custod* o) the receipt is etrusted &* the
ower, i) &* the receipt, the (oods are delivera&le to the holder o) the receipt.
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
Rights of a person to whom negotia!le receipt has !een negotiated
1. ;uch title to the (oods as the perso e(otiati( the receipt to hi' has had
a&ilit* to cove* to a purchaser i (ood )aith )or value, ad also such title to
the (oods as the depositor or perso to whose order the (oods were to &e
delivered &* the ter's o) the receipt has had a&ilit* to cove* to a purchaser
i (ood )aith )or value8 ad
2. The direct o&li(atio o) the warehouse'a to hold possessio o) the (oods
)or hi' accordi( to the ter's o) the receipt as )ull* as i) the warehouse'a
had cotracted directl* with hi'.
Lia!ilit* of the indorser
The idorser warrats6
1. That the receipt is (euie8
2. That he has a le(al ri(ht to e(otiate or tras)er it8
3. That he has ,owled(e o) o )act which would i'pair the validit* or
worth o) the receipt8 ad
:. That he has a ri(ht to tras)er title to the (oods, ad that the (oods
are 'erchata&le.
+ndorser not a guarantor
The idorser, &* e(otiati( the receipt, is ot lia&le )or a* )ailure o the
part o) the warehouse'a or prior idorsers to )ul-ll their respective
o&li(atios.
+s an indorser of a receipt lia!le for the failure of a warehouseman or
previous indorsers to ful)ll their respect o!ligations$
No. Ae has ot a (uarator. The idorse'et o) a receipt shall ot 'a,e the
idorser lia&le )or a* )uture o the part o) the warehouse'a or previous
idorsers o) the receipt to )ul-ll their respect o&li(atios. 2;ectio :5,
Warehouse Receipts Act3
.ledge/ sale or chattel mortgage of negotia!le receipt
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DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
Dder the Warehouse Receipts %aw, a upaid seller9s lie or ri(ht o)
stoppa(e caot de)eat the ri(hts o) pled(ee )or value.
The pled(e o) a warehouse receipt ad its idorse'et to the pled(ee does
ot tras)er owership o) the deposit to the pled(ee. Thus, whether the
cause o) the loss is accidetal or ot, &ecause owership re'ais with hi',
the pled(or &ears the loss.
Does negotiation of receipt defeat the lien of the vendor of the goods
covered there!*$
Ees. Where a e(otia&le receipt has &ee issued )or (oods, o vedor1s lie
or ri(ht o) stoppa(e in transitu shall de)eat the ri(hts o) a* purchaser )or
value i (ood )aith to who such receipt has &ee e(otiated, whether such
e(otiatio &e prior or su&se=uet to the oti-catio to the warehouse'a
who issued such receipt o) the vedor1s clai' to a lie or ri(ht o) stoppa(e in
transitu. Nor shall the warehouse'a &e o&li(e to deliver or 7usti-ed i
deliveri( the (oods to a upaid seller uless the receipt is -rst surredered
)or cacellatio. 2;ectio :$, Warehouse Receipts Act3
;uch ri(ht o) the upaid seller is de)eated &* the idorse'et o) the receipt
i )avor o) a perso who pa*s value there)or i (ood )aith.
NON$NEGOTIABLE WAREHOUSE RECEIPT
"ow transferred
A o-e(otia&le receipt 'a* &e tras)erred &* its deliver* to the tras)eree
acco'paied &* a deed o) assi('et, doatio or other )or' o) tras)er.
Rights of a person to a receipt which has !een transferred !ut not
negotiated
1. ;uch perso ac=uires there&* as a(aist the tras)eror the title o) the (oods
su&7ect to the ter's o) a* a(ree'et with the tras)eror.
2. /) the receipt is o-e(otia&le, such perso also ac=uires the ri(ht to oti)*
the warehouse'a o) the tras)er to hi' o) such receipt ad there&* to
ac=uire the direct o&li(atio o) the warehouse'a to hold possessio o) the
(oods )or hi' accordi( to the ter's o) the receipt.
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DOCUMENTS OF TITLE TO GOODS &
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3. Frior to the oti-catio o) the warehouse'a &* the tras)er or tras)eree o)
a o-e(otia&le receipt, the title o) the tras)eree to the (oods ad the ri(ht
to ac=uire the o&li(atio o) the warehouse'a 'a* &e de)eated &* the lev*
o) a attach'et or e4ecutio upo the (oods &* a creditor o) the tras)eror
or &* a oti-catio to the warehouse'a &* the tras)eror or a su&se=uet
purchaser )ro' the tras)eror o) a su&se=uet sale o) the (oods &* the
tras)eror. 2;ectio :2, Warehouse Receipts Act3
Right of a person to whom a negotia!le receipt is transferred for value !*
deliver* !ut not indorsed
The tras)eree ac=uires the ri(ht a(aist the tras)eror to co'pel hi' to
idorse the receipt uless a cotrar* itetio coceri( the tras)er
appears. The e(otiatio shall ta,e e.ect as o) the ti'e whe the
idorse'et is actuall* 'ade.
The idorse'et o) the tras)eror is essetial )or e(otiatio where uder the
receipt, the (oods are to &e delivered &* the warehouse'a to the depositor
or his order.
0everal tests
1. Gud('et creditor versus holder
!oods should &e (ive to the holder who has the capacit* to co'pl* with the
re=uire'ets o) ;ectio # o) the Warehouse Receipts Act, a'el*6 idorse ad
deliver the receipt o) which he is the holder, pa* the )ees or lies o) the
warehouse'a, ad si( a receipt )or the deliver* o) the (oods.
2. Dpaid seller versus holder
Dpaid seller 'a* (et &ac, the (oods i) the warehouse receipt is still with the
&u*er. Aowever, i) the receipt has alread* &ee idorsed ad delivered to a holder
who paid value there)or i (ood )aith, the latter has a &etter ri(ht over the upaid
seller.
3. %essor5ladlord versus holder
Aolder ca recover (oods as he ca co'pl* with the re=uire'ets.
:. Hwer >alle(ed? versus holder
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DOCUMENTS OF TITLE TO GOODS &
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/ this case, warehouse'a should ot deliver the (oods to either o) the two
as the title o) owership over the (oods is i =uestio which re=uires 7udicial
authorit* to deter'ie ad decide. /t is ot )or the warehouse'a to do so.
Htherwise, he will &e ta,i( the ris, o) &ei( lia&le twice )or the sa'e (oods.
;ice the title or owership over the (oods is i =uestio or is disputed, the
sa)e course o) actio )or the warehouse'a is to -le a co'plait i iterpleader i
order to co'pel &oth clai'ats to liti(ate a(aist each other )or the (oods.
+nterpleader proper onl* if title is disputed
The ol* 7usti-catio )or a warehouse'a to resort to a actio )or
iterpleader is whe the title to the (oods is i issue, &ut ot i cases where
the title to the (oods is ot i dispute.
GENERAL BONDED WAREHOUSE LAW
Act No. 3#$3, as a'eded
.urpose
The purpose o) the law is to protect depositors &* (ivi( the' a recourse i
case o) the isolvec* o) the warehouse'a a(aist the &od -led &* hi'.
0alient features of the law
1. %icese )ro' the "ureau o) +o'estic Trade >ow +T/? re=uired
2. A'out o) &od is 33 153I o) the value o) the (oods iteded to &e stored i
the warehouse
3. +epositor (ive a direct recourse a(aist the &od -led &* the
warehouse'a
:. All (oods are isured a(aist -re )or their value
What deposits involved
1. +eposit with optio to the warehouse'a to retur the stoc,s or to pa* the
price
BERCHOKE CACLES C COMMERCIAL OMMERCIAL L LAW AW MABUHAY EDITION 2000
#6
DOCUMENTS OF TITLE TO GOODS &
WAREHOUSE RECEIPTS AND GENERAL BONDED WAREHOUSE LAWS
2. Cotract to 'ill
3. Cotract to co-'i(le with stoc,s o) others ad retur the sa'e =uatit* or
pa* their value
BERCHOKE CACLES C COMMERCIAL OMMERCIAL L LAW AW MABUHAY EDITION 2000