Produce deteriorating in warehouse and its disposal

Corporate194725 sections

Statutory text

(1) Whenever produce stored in a warehouse is found to be deteriorating from causes beyond the control of the warehouseman, he shall as soon as possible give notice of such deterioration to the depositor requiring him to surrender his receipt and take delivery of the produce on payment of the warehouseman’s dues.
(2) In the event of the depositor failing to comply with the notice within a reasoable time, the warehouseman may cause such produce to be removed from his warehouse and sold by public auction at the cost and risk of the depositor.
(3) A copy of the notice provided for in sub-clasue
(1) shall be given by the warehouseman to the bank on whose behalf the depositor's produce is stored in his warehouse.

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