Admiralty Island Fisheries, Inc. and several other seafood companies (plaintiffs) stored seafood products in warehouses operated by Millard Refrigerated Services, Inc. (Millard) (defendant). Millard issued warehouse receipts for the stored products, which contained the parties’ agreement regarding the storage of the seafood and provided that Millard’s liability for loss or damage to the stored goods would be limited to 50 cents per pound. Later, Millard discovered that the seafood owned by the plaintiffs was missing. Millard conducted an internal investigation and determined that some of its employees had stolen, or converted, the seafood. By one estimate, more than 94,000 pounds of seafood with a fair market value of $455,000 had been stolen. The plaintiffs sued Millard. Millard argued that its liability for the loss was limited to 50 cents per pound, which totaled $47,000. The plaintiffs filed a motion for partial summary judgment, arguing that the limitation-of-liability clause in the warehouse receipts was unenforceable. Millard also filed a motion for partial summary judgment on the issue.