T?lis B?auns
hmmm, let me check my memory banks http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90w03_e.htm It's very convoluted language and it outlines how screwed we are by being a negotiable warehouse receipt.
Schedule II
Warehouse Receipts [defined as] are Receipts given by the owners of warehouses,-, etc.,acknowledging the possession of chattel property (SOB)
stored, or kept for the owners of suchchattel property. The ownership of the property may be changed on purchase , by theendorsement and delivery of the warehouse receipt. These receipts are used largely as collateral security . They are given to bankers
, and others along with their notes, as securityfor further advances of money...