A Bailment is the temporary placement of control over, or possession of, personal property by one person, the bailor, into the hands of another, the bailee, for a designated purpose upon which the parties have agreed.
U.C.C. § 7-207 requires that a warehouse must generally keep separate the goods covered by each warehouse receipt so as to permit the identification of the goods covered by each receipt and their delivery or surrender to the holder of the receipt or other person entitled to the goods.
New Mexico Acknowledgment of Delivery of Goods Pursuant to Warehouse Receipt is a legal document that serves as proof of receipt and delivery of goods stored in a warehouse. It outlines the essential information regarding the transaction and is crucial for providing transparency and accountability in the supply chain. This document is often used in commercial transactions to confirm the transfer of goods from the warehouse to the intended recipient. Key elements included in a New Mexico Acknowledgment of Delivery of Goods Pursuant to Warehouse Receipt are: 1. Parties Involved: The document identifies the parties involved in the transaction. This includes the name and contact information of the warehouse owner/keeper and the recipient of the goods. 2. Description of Goods: A detailed description of the goods is provided, including any relevant serial numbers, batch numbers, or other unique identifiers. This ensures accuracy and helps prevent any confusion during delivery. 3. Warehouse Receipt Information: The document includes the reference number and date of the original warehouse receipt. This helps to link the acknowledgment to the initial receipt, creating a clear paper trail of the goods' movement. 4. Delivery Details: The acknowledgment specifies the date and time of delivery, and the location where the goods are handed over to the recipient. It may also outline any specific delivery instructions or conditions agreed upon by the parties. 5. Quantity Verification: A section is included to verify the quantity of goods being delivered. The recipient may visually inspect, count, or weigh the goods to ensure they match the details provided on the warehouse receipt. 6. Signatures and Date: To make the acknowledgment legally binding, both the warehouse owner/keeper and the recipient must sign and date the document. This affirms their agreement that the goods have been received in the specified condition and quantity. Types of New Mexico Acknowledgment of Delivery of Goods Pursuant to Warehouse Receipt may vary based on the specific industry, goods being stored, or other unique circumstances. Some common variations of this document may include: 1. New Mexico Acknowledgment of Delivery of Hazardous Goods Pursuant to Warehouse Receipt: This document is used when the stored goods are classified as hazardous. It includes additional information to comply with safety regulations and handling procedures. 2. New Mexico Acknowledgment of Delivery of Perishable Goods Pursuant to Warehouse Receipt: This variant is specifically designed for perishable goods such as food items or pharmaceuticals. It may include temperature control specifications and requirements to ensure the integrity and quality of the goods during storage and delivery. 3. New Mexico Acknowledgment of Delivery of High-Value Goods Pursuant to Warehouse Receipt: This type of acknowledgment is used when dealing with high-value goods, such as luxury items, artwork, or expensive equipment. It may include additional security measures, insurance requirements, and special handling instructions to minimize the risk of loss or damage. In conclusion, the New Mexico Acknowledgment of Delivery of Goods Pursuant to Warehouse Receipt is a crucial document that ensures the proper transfer and receipt of goods stored in a warehouse. It provides transparency, accountability, and a legal framework for commercial transactions involving warehousing and logistics.
