Jojo deposited several boxes of goods with ABC Warehouse Corporation. The corresponding warehouse receipt was issued to
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Question:
Jojo deposited several boxes of goods with ABC Warehouse Corporation. The corresponding warehouse receipt was issued to the order of Jojo. He negotiated the warehouse receipt to EJ who paid the same for value. EJ in turn negotiated the warehouse receipt to JB. When JB went to the warehouse to withdraw the goods, he was informed that the goods were missing.
a) Is EJ liable to JB for the loss of the goods? Reason. (5%)
b) Would your answer be the same if the goods were intact in the warehouse but ABC Warehouse Corporation refuse to release the same to JB on the ground that the warehouse receipt negotiated to him by EJ is a forgery? Reason.
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
Posted Date: