Western Union Railroad v. Wagner

We held in Burton v. Curyea, 40 Ill. 320, that while a warehouse receipt is not negotiable in the sense in which that term is applied to a promissory note, yet the transfer of such a receipt, accompanied by a sale or pledge of the property specified in the receipt, would have the same effect as the delivery of the property to the transferee—neither less nor more. This was b'efore the act of 1867 in regard to warehouses, in which the legislature seems to have made such receipts strictly negotiable. The rule laid down in that case is applicable to bills of lading, and is decisive of the present…