N.Y. UCC Law § 7-204

Section 7--204. Duty of Care; Contractual Limitation of Warehouse's\n Liability.\n (a) A warehouse is liable for damages for loss of or injury to the\ngoods caused by its failure to exercise care with regard to the goods\nthat a reasonably careful person would exercise under similar\ncircumstances. Unless otherwise agreed, the warehouse is not liable for\ndamages that could not have been avoided by the exercise of that care.\n (b) Damages may be limited by a term in the warehouse receipt or\nstorage agreement limiting the amount of liability in case of loss or\ndamage beyond which the warehouse is not liable. Such a limitation is\nnot effective with respect to the warehouse's liability for conversion\nto its own use. On request of the bailor in a record at the time of\nsigning the storage agreement or within a reasonable time after receipt\nof the warehouse receipt, the warehouse's liability may be increased on\npart or all of the goods covered by the storage agreement or the\nwarehouse receipt. In this event, increased rates may be charged based\non an increased valuation of the goods.\n (c) Reasonable provisions as to the time and manner of presenting\nclaims and commencing actions based on the bailment may be included in\nthe warehouse receipt or storage agreement.\n