The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1908-08-28

(c.) That he has knowledge OF no fact
which would impair the validity or worth
Of the receipt, and
(d) That he has right 20 transfer the
title 20 the goods, and that the goods are
! merchantable or ft for a particular pur-
have been implied, II the contract OF the
| parties had been 10 transfer without a
receipt the goods represented thereby
Sec. B.-lIndorser not a GuarantOr.
The Endorsement Of "a receipt shall not
make the indorser liable for any failure
on the part OF the warehouseman or pre-
vious indorsers Of the receipt TO fulhll
Sec. 4G.-lNo Warranty Implied from
Accepting Payment OF "A Debit A mort
gagee, Pledge, or holder for security OF
a receipt who in good faith demands or
receives payment Of the debt for which
such receipt is security, whether from a
| party TO a draft drawn for such debt or
| from any other person, shall not by 50
| doing be deemed TO represent or 20 war
rant the genuineness Of such receipt or
the quantity or quality OF the goods there
| In described
Sec. E.-[When Negotiation not Impair
| ed by Fraud. Mistake, or Duressl The
validity OF the negotiation Of a receipt
| Is not impaired by the fact that such
] negotiation was a breach OF duty on the
| part OF the person making the negotia-
| -
| receipt was induced by fraud, mistake, or
! duress TO entrust the possession or GUS
! tody OF the receipt TO such person, II the
| person 10 whom the receipt was negoti-
| ated, or n person TO whom the receipt
| was subsequently negotiated, paid value
! therefor, without notice OF the breach Of
! duty, or fraud mistake, or duress.
| Sec. iS.-[Subsequent Negotiation Where
person having sold. mortgaged, or
! pledged goods which are In a warehouse
| and for which a negotiable receipt has
| been issued, or having sold mortgagcd.
| or pledged the negotiable receipt repre-
| senting such goods continues I'm posses
sion OF tho negotiable receipt, the sub
| seqUent negotiation thereof by that per
son under any sale, or other disposition
thereof to any person receiving the same
I'm good faith, for value and without no
| tice OF the previous sale, mortgage, or
pledge, shall have the same effect as n
the first purchaser OF the goods or receipt
had expressly authorized the subsequent
negotiation.
Sec. a. Negotiation Defeats Vendors
Lien.l Where a negotiable receipt has
been issued for goods, no sellers lien or
right OF stoppage In transit shall defeat
the rights OF any purchaser for value in
good faith to whom such receipt has been
| negotiated, whether such negotiation be
prior or subsequent TO the notification to
the warehOuscman who issued such re-
csiDt OF the sellers claim to lien or
r1gnt or stoppage I'm transltu Nor shail
the warohouscman be obliged TO deliver
or justified I'm delivering the goods to an
unpaid seller unless the receipt is first
surrendered for cancellation.
PART w.
CRIMINAL OFFENCES.
Sec. G0.-IIssue OF Receipt for Goods not
Received A warehouseman, or any Of
hccr, agent, or servant OF "A warehouse
man, who Issues or aids I'm issuing a re-
ceipt knowing that the goods for which
such receipt IL Issued have not been ac-
tually received by such warohouseman,
or are not under his actual control at the
time OF issuing such receipt, shall be
guilty OF crime. and upon conviction
shall be punished for each offense by inn
prisonmcnt not exceeding five years or
by fine not exceeding five thousand dol
lars, or by both.
Sec. 5l.-[Issue OF Receipt Containing
False Statement.1 warehouseman, or
any officer, agent, or servant OF ware
houseman, who fraudulcntly issues OF
aids I'm fraudulently issuing a receipt for
goods knowing that II contains any false
statement, shall be guilty of crime, and
upon conviction shall be punished FOR
each offonse by imprisonment not exceed
ing one year. or by fine not exceeding
one thousand dollars, or by both.
Sec. 52-tlssue OF Duplicate Receipts
not 80 Markell a warchouscman. OF
any officer, agent, or servant OF ware
houseman. who issues or aids I'm issuing
duplicate or additional negotiable re-
ceipt for goods knowing that a former
negotiable receipt for the same goods ot
any part OF them is outstanding and un-
cancelled, without plainly placing upon
the face thereof the word duplicate
except In the case OF " lost or destroyed
receipt after proceedings as provided for
In section II. shall be guilty Of n crime,
and upon conviction shall be punished foi
each offense by Imprisonment not eN-
ceedng five years or by a fine not eN-
ceeding five thousand dollars, or by both.
Sec 53. - Issue for Warehouscmau's
Goods OF Receipts which do not state that
Fact.l Where there are deposited with
or held by a warehouscman goods Of
which he In owner. either solely or joint.
ly or I'm common with others, such ware
houseman. or any OF his officers, agents
or servants who, knowing this ownership.
issues or aids I'm issuing negotiable re
ccipt for such goods which does not state
such ownership. shall be guilty of
crime and upon conviction shall bc pun
ished for each offcnse by Imprisonment
not exceeding one year. or by fine not
exceeding one thousand dollars, or 10y
both
Sec. bL-fDcllvery OF Goods without oh
tanning Negotiable Receipt a ware.
houSeman, or any officer agent, or SCrN-
ant or warchousema. who delivers
goods OF the possession OF such ware
housoman. knowing that a negotiable r..
ccipt the negotiation of which woulu
transfer the right TO the possession of
such goods Is outstanding and uucan.
celled. without obtaining the possession OF
such receipt at or before the time OF such
delivery. shall. except in the cases pro.
vided for I'm sections IL and Sc, be found
guilty OF a crime. and upon conviction
shall be punished for each offenso 10y
Imprisonment not exceeding one year, OF
by fine not exceeding one thousand dol.
lars. or by both.
Sec. IS. - Negotiation OF Receipt foi
Mortgagcd Goods Any person who de.
pcsits goods to which he has not title. oi
upon which there is lien or mortgage
and who takes for such goods a ncgo-
table receipt which he afterwards nego
tiatcs for the value with intent To de.
ceive and without disclosing his want oi
title or the existence OF the lien or mort
gage shall bc guilty OF crime. aut
upon conviction shall be punished foi
each offensc by Imprisonment not exceed.
inc ono Npnr Or hX IA tua not pNggtIiuc