164
No. 3.]
Effect of pledge of documents of title.
Pledge for antecedent debt.
Rights acquired by exchange of goods or documents.
Agreement through clerk, etc.
Provisions as to consignor and consignee.
Disposition by seller remaining in possession.
THE ORDINANCES OF HONGKONG: [A.D.
The first-mentioned documents shall, for the purposes of this Ordinance, be deemed to be with the consent of the owner.
(4.) For the purposes of this Ordinance, the consent of the owner shall be presumed in the absence of evidence to the contrary.
4. A pledge of the documents of title to goods shall be deemed a pledge of the goods.
5. Where a mercantile agent pledges goods as security for a debt or liability due from the pledgor to the pledgee before the time of the pledge, the pledgee shall acquire no further right to the goods than could have been enforced by the pledgor at the time of the pledge.
6. The consideration necessary for the validity of a sale, pledge, or other disposition of goods, in pursuance of this Ordinance, may be either a payment in cash, or the delivery or transfer of other goods, or a document of title to goods, or of a negotiable security, or any other valuable consideration; but where goods are pledged by a mercantile agent in consideration of the delivery or transfer of other goods, or of a document of title to goods, or of a negotiable security, the pledgee shall acquire no right or interest in the goods so pledged in excess of the value of the goods, document, or security when so delivered or transferred in exchange.
7. For the purposes of this Ordinance, an agreement made with a mercantile agent through a clerk or other person authorized in the ordinary course of business to make contracts of sale or pledge on his behalf shall be deemed to be an agreement with the agent.
8.-(1.) Where the owner of goods has given possession of the goods to another person for the purpose of consignment or sale, or has shipped the goods in the name of another person, and the consignee of the goods has not had notice that such person is not the owner of the goods, the consignee shall, in respect of advances made to or for the use of such person, have the same lien on the goods as if such person were the owner of the goods, and may transfer any such lien to another person.
(2.) Nothing in this section shall limit or affect the validity of any sale, pledge, or disposition by a mercantile agent.
Dispositions by Sellers and Buyers of Goods.
9. Where a person, having sold goods, continues, or is, in possession of the goods or of the documents of title to the goods, the delivery or transfer by that person, or by a mercantile agent acting for him, of the goods or documents of title under any sale, pledge, or other disposition thereof, or under any agreement for sale, pledge, or other disposition