Lawrence Whse., Inc. v. Best Lbr. Co., Inc.

This is an action by the Lawrence Warehouse Company against The Best Lumber Co., Inc., arising out of agreements for the “field warehousing” of defendant’s logs by the plaintiff. The transactions included a lease by the defendant to the plaintiff of certain premises on which the logs were to be stored, and the issuance of nonnegotiable warehouse receipts by the warehouse company upon the delivery of logs to the warehouse. The purpose of the arrangement was to enable the defendant to “warehouse” its logs with the plaintiff who, on authorization of the defendant, would issue nonnegotiable…