Fletcher v. Great Western Elevator Co.

Citations

• 12 S.D. 643
• 82 N.W. 184
• 1900 S.D. LEXIS 83

Syllabus

<p>1. A warehouseman, whose agent fraudulently issues a receipt for grain, which has not been received, is estopped to deny that the grain mentioned in the receipt has been received, as against a bona fide holder for value.</p> <p>2. A statute prohibiting'a warehouseman from issuing a receipt for goods not actually received will not allow him to prove, in an action by a bona fide holder for value, that a receipt fraudulently issued by his agent for grain not received is false, and that the grain mentioned therein never existed.</p> <p>3. In an action by a bona fide holder for value to recover on a warehouse receipt fraudulently issued by the warehouseman’s agent, it is proper to limit the recovery to the amount paid for the receipt.</p>