Comparing the United States Warehouse Act and U.C.C. Article 7
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Kershen, Drew L.
FIRST PARAGRAPH(S)|Congress adopted the United States Warehouse Act ("Act") in 1916. Since that date, Congress has passed three significant amendments to the Act. In 1931, Congress conferred exclusive jurisdiction over all persons securing a license under the Act upon the United States Secretary of Agriculture. In 1990 and 1992, Congress authorized the Secretary of Agriculture to create a central filing system for electronic cotton warehouse receipts. Aside from these amendments, there has been minimal legislative activity.|Despite the thousands of transactions and the billions of dollars of agricultural products under warehouse receipts each year, the number of reported cases is surprisingly small. Fewer than one case every two years involves a dispute concerning warehouse receipts issued by warehouses licensed under the Act. One would be hard pressed to find another federal statute of this magnitude that has produced such little case law...
27 Creighton L. Rev. 735 (1993-1994)
Creighton University School of Law