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Questions
Differentiate the warehouse warrant from the warehouse receipt.
Distinguish between Warehouse Receipt and Warehouse Warrant.
Distinguish Between
Solution 1
|
Warehouse Warrant |
Warehouse Receipt |
| It is a document of the title of goods. | It is not a document of the title of goods. |
| It can be negotiated or transferred to others. | It can not be transferred to others. |
| Delivery of goods effected by surrendering this warrant with endorsement. | Delivery is effected by surrendering this receipt with a letter from the depositor. |
| It also gives an authority to get delivery of goods by the owner or by a third party. | It is only the acknowledgment for the receipt of the goods. |
| It can be given collateral security for getting financial assistance. | It cannot be transferred to others. |
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Solution 2
- A warehouse warrant is a document of ownership of goods, while a warehouse receipt is not a document of ownership of goods.
- Ownership of goods can be transferred by endorsement and delivery of a warehouse warrant. This is not possible in the case of a warehouse receipt.
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Notes
Students can refer to the provided solutions based on their preferred marks.
Warehousing Documents
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