《合同法》第385条规定仓单作为典型的仓储商行为凭证,在体系化解释上存在“商化不足”现象。仓单的性质可呈现为要式证券、背书证券、无因证券,并兼具有物权证券与债权证券的属性。在无因证券之考量方面,取得仓单原因之无因性与作成仓单之无因性并不是同一层面上的无因性。制度设计上进入流通的仓储物,其债权或物权属性可成为法政策上的问题。 Article 385 of the Contract Law stipulates that warehouse receipts, as a typical voucher for warehouse operators, have the phenomenon of “under-commercialization” in systematic explanation. The nature of the warehouse receipt can be presented as an option securities, endorsement securities, non-due securities, and also has the property of real rights securities and debt securities. In the absence of consideration due to securities, the non-causal nature of the reason for obtaining the warehouse receipt and the non-causal nature of the warehouse receipt are not unreasonable on the same level. System design into the circulation of warehousing, the claims or property rights can become the issue of legal policy.