Warehouse Receipt

A warehouse receipt is a document that serves as a receipt for goods stored in a warehouse. It provides details about the goods, including quantity and condition, and represents ownership or a claim over the goods during the storage period.

Warehouse receipts originated from the need to document the storage of goods in warehouses, transforming a physical possession into a negotiable instrument. They have historical roots in the mercantile practices of the 18th century as trade expanded.

In modern law, warehouse receipts are essential for the regulation of the storage and transfer of goods and are often used in commercial transactions. They serve as collateral for loans and can be transferred, allowing for the negotiation of goods without physical delivery.

• A company stores a shipment of electronics in a warehouse and receives a warehouse receipt that details the type and quantity of goods stored, which it can use to secure financing from a bank.
• A retailer sells a large order of clothing but retains a warehouse receipt as evidence of ownership until the merchandise is delivered to the store.

• Hobbs v. Barlow
• Rouse v. H. G. Smith