FACTORS.
No. 3 of 1896.
377
(3) 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 of any other documents of title to the goods, his possession of 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.
3. A pledge of the documents of title to goods shall be deemed to be a pledge of the goods.
Pledge of documents of title.
debt.
4. 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.
Pledge for antecedent debt.
5. 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 of 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.
clerk
Rights acquired by exchange of goods or documents.
clerk, etc.
6. 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.
7.-(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
FACTORS.
No. 3 of 1896.
377
(3) 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 of any other documents of title to the goods, his possession of 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.
3. A pledge of the documents of title to goods shall be Pledge of deemed to be a pledge of the goods.
documents of title.
debt.
4. Where a mercantile agent pledges goods as security for Pledge for a debt or liability due from the pledgor to the pledgee before antecedent 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.
5. 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 of 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 con- sideration 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.
clerk
Rights acquired by exchange of goods of
documents.
clerk, etc.
6. For the purposes of this Ordinance, an agreement made Agreement with a mercantile agent through a
or other person through authorized in the ordinary course of business to make contracts of sale or pledge on his behalf shall be deemed to be an agree- ment with the agent.
7.-(1) Where the owner of goods has given possession of Provisions as to con. the goods to another person for the purpose of consignment or
signor and sale, or has shipped the goods in the name of another person, consignee. and the consignee of the goods has not had notice that such
No comments yet.
Private notes are available after approval.