Following on Scott explaining how the PERSON we have is used as COLLATERAL, here is a definition i came across from Black's Law 6th-edition, that is NOT in Black's 9th:
FIELD WAREHOUSE RECEIPT: a document ISSUED by a WAREHOUSEMAN, evidencing receipt of GOODS which have been STORED (the Registrar General of Ontario's office is way up in Thunder Bay, btw). Such may be used as COLLATERAL for LOANS.
Printed copy · Anthology Volume 3, page 1309 · cut by a page breakPrinted copy from The Tender For Law Anthology, Volume 3, page 1309 (printed 13 June 2014). Added by this site; not part of the Facebook export. A page break in the printout cut off the end of this comment.