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The Theory Of Field Warehousing, Anthony Kane

Washington Law Review

The system of "field storage warehousing" has been developed to provide a simple but safe means whereby the owner, manufacturer, producer or extractor can obtain credit on goods which cannot be readily moved or mortgaged. Field storage warehousing is fundamentally the same transaction as the pledge discussed above, except that now a bona fide warehouse company takes the place of the pledgee's agent and the pledgee has constructive possession of the goods by virtue of a warehouse receipt instead of actual possession as in an ordinary pledge. Warehouse companies specializing in "field storage warehousing" have developed this security device to …