law: The Warehousing (Development and Regulation) Act, 2007
  13. Negotiation of
  
  warehouse receipt by delivery. -
  A negotiable
  
  warehouse receipt may be negotiated by its delivery if, by the terms of the
  
  receipt, the warehouseman undertakes to deliver the goods to the order of a
  
  named person, and that person or a subsequent endorsee has endorsed it.