CAP. 48]
Factors.
CHAPTER 48.
FACTORS.
[1964 Ed.
Originally 6 of 1896.
(Cap. 48, 1950.)
8 of 1912.
5 of 1924.
To consolidate and amend the law relating to factors.
[1st July, 1896.]
52 & 53 Vict. c. 45.
PRELIMINARY.
Short title.
Interpretation.
Powers of mercantile agent with respect to disposition of goods.
1. This Ordinance may be cited as the Factors Ordinance. (Amended, 5 of 1924, s. 6)
2. (1) In this Ordinance, unless the context otherwise requires- "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; “goods" includes wares and merchandise;
"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; "person" includes any body of persons corporate or unincorporate; “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.
(2) For the purposes of this Ordinance, 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.
DISPOSITIONS BY MERCANTILE AGENTS.
3. (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 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
CAP. 48]
Factors.
CHAPTER 48.
FACTORS.
[1964 Ed.
Originally 6 of 1896.
(Cap. 48, 1950.)
8 of 1912.
5 of 1924.
To consolidate and amend the law relating to factors.
[1st July, 1896.]
52 & 53 Vict. c. 45.
PRELIMINARY.
Short title.
Interpretation.
Powers of
mercantile agent
with respect to disposition of
goods.
1. This Ordinance may be cited as the Factors Ordinance. (Amended, 5 of 1924, s. 6)
2. (1) In this Ordinance, unless the context otherwise requires- "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; “goods" includes wares and merchandise;
"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; "person" includes any body of persons corporate or unincorporate; “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.
(2) For the purposes of this Ordinance, 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.
DISPOSITIONS BY MERCANTILE AGENTS.
3.
(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 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.
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