A document listing the goods or commodities deposited in a warehouse. It is a receipt for the commodities listed, and for which the warehouse is the bailee. Warehouse receipts may be negotiable o non negotiable.
- A warehouse receipt made out to the “order” of a named party is a bearer instrument. As with order bill of lading, ownership of the warehouse goods can be transferred by endorsing and passing the documents from party to party.
- Non-negotiable. A warehouse receipt lacking the word “order” is similar to a non-negotiable bill of lading, as it permits delivery only to the named party.