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THE HONGKONG GOVERNMENT GAZETTE, 15TH FEBRUARY, 1896.

Section.

1.

Factors Ordinance, 1896.

ARRANGEMENT OF SECTIONS.

Definitions.

Preliminary.

Dispositions by Mercantile Agents.

2. Powers of mercantile agent with respect of disposition

of goods.

3.

Effect of pledges of documents of title.

4.

Pledge for antecedent debt.

5.

Rights acquired by exchange of goods or documents.

7.

Provisions as to consignors and consignees.

6. Agreements through clerks, &c.

Dispositions by Sellers and Buyers of Goods.

8. Disposition by seller remaining in possession.

9.

Disposition by buyer obtaining possession.

10. Effect of transfer of documents on vendor's lien or

right of stoppage in transitu.

Supplemental.

11. Mode of transferring documents.

12. Saving for rights of true owner.

13. Saving for common law powers of agent.

14. Repeal.

15.

Commencement.

16. Short title.

SCHEDULE.

A BILL

ENTITLED

An Ordinance to amend and consolidate the Law

BE

relating to Factors.

E it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:—

Preliminary.

1. For the purposes of this Ordinance :-

(1) The expression "mercantile agent" shall mean a mercantile agent having in the customary course of his business as such agent authority either to sell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of goods : (2) 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: (3) The expression "goods" shall include wares and

merchandise:

(4) The expression "document of title" shall include 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 author- ising or purporting to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods there- by represented :

(5) The expression "pledge" shall include any con- tract pledging, or giving a lien or security on, goods, whether in cousideration of an original advance or of any further or continuing advance or of any pecuniary liability:

(6) The expression "person" shall include 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 provi- sions 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.

Title

Definitions.

Powers of mercanti agent with respect to disposition of goods.

83