1896.]
FACTORS.
[No. 3.
For the purposes of this Ordinance-
"Mercantile agent" means 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:
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 authorizing or purporting to authorize, 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.
163
Interpretation of terms.
Powers of mercantile agent with respect to disposition of goods.
(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, 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 authorized 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 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.
Where a mercantile agent has obtained possession of any documents of title to goods by reason of his being or having been, with the consent of the owner, in possession of the goods represented thereby or other documents of title to the goods, his possession of the documents shall be deemed to be with the consent of the owner.
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1896.]
FACTORS.
[No. 3.
For the purposes of this Ordinance-
Mercantile agent" means a mercantile agent having, in the stomary course of his business as such agent, authority either to ell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security 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 authoriz- ing or purporting to authorize, either by indorsement or by delivery, 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.
163
Interpretation of terms.
mercantile agent with
respect to disposition of goods.
(1) Where a mercantile agent is, with the consent of the owner, Powers of.. possession of goods or of the documents of title to goods, any sale, or other disposition of the goods, made by him when acting in ordinary course of business of a mercantile agent, shall, subject to provisions of this Ordinance, be as valid as if he were expressly thorized by the owner of the goods to make the same: Provided that person taking under the disposition acts in good faith, and has not, the time of the disposition, notice that the person making the position has not authority to make the same.
(0) Where a mercantile agent has, with the consent of the owner, in possession of goods or of the documents of title to goods, any pledge, or other disposition, which would have been valid if the sent had continued, shall be valid notwithstanding the determination the consent: Provided that the person taking under the disposition not, at the time thereof, notice that the consent has been determined. Where a mercantile agent has obtained possession of any ments of title to goods by reason of his being or having been, with consent of the owner, in possession of the goods represented thereby other documents of title to the goods, his possession of the
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