718
No. 3 of 1896.
FACTORS.
Powers of mercantile agent with respect to disposition of goods.
A person shall be deemed to be in possession of goods or of the documents of title to goods, where the goods or documents are in his actual custody or are held by any other person subject to his control, or for him, or on his behalf :
"Goods" include wares and merchandise:
"Document of title" includes any bill of lading, dock warrant, warehouse-keeper's certificate, and warrant or order for the delivery of goods, and any other document used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by indorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented :
"Pledge" includes any contract pledging, or giving a lien or security on goods, whether in consideration of an original advance, or of any further or continuing advance, or of any pecuniary liability:
"Person" includes any body of persons corporate or unincorporate.
Dispositions by Mercantile Agents.
2.-(1) Where a mercantile agent is, with the consent of the owner, in possession of goods or of the documents of title to goods, any sale, pledge, or other disposition of the goods, made by him when acting in the ordinary course of business of a mercantile agent, shall, subject to the provisions of this Ordinance, be as valid as if he were expressly authorised by the owner of the goods to make the same: Provided that the person taking under the disposition acts in good faith, and has not, at the time of the disposition, notice that the person making the disposition has not authority to make the same.
(2) Where a mercantile agent has, with the consent of the owner, been in possession of goods or of the documents of title to goods, any sale, pledge, or other disposition, which would have been valid if the consent had continued, shall be valid notwithstanding the determination of the consent: Provided that the person taking under the disposition has not, at the time thereof, notice that the consent has been determined.
(3) ... his purpose ... the owner.
(4) ... shall be ...
3. A ... be a pledge.
4. Where ... or liability ... the pledge ... than ... pledge.
5. For ... or other ... be either ... goods, ... or any ... by a mercantile agent ... of other security so pledged when sold.
6. For ... mercantile ... ordinary ... his behalf.
7.-( ... goods to ... has shipped ... consigned ... the owner ... made to ...