River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1909-07-15

= pSFSoH also acquires the right To notify the
4 warehouseman OF the transfer to him of
i such receipt, and thereby to acquire the di-
/ rect obligation of the warehouseman to
! hold possession of the goods for him ac-
| cording &c the terms OF the receipt
j. Prior TO the notification of the ware
hcuseman BY the transferrer or transferee
! rransferee to the goods and the right to ac-
| Qulre the obligdt .on of the warehouseman
/ may be defeated by the levy Of an attach
ment or execution upon the goods by
/ creditor OF the transferrer, or by noti6ca-
ton TO the warehouseman by the trans
ferrer or a subsequent purchaser. from the
transferrer OF q subsequent sale of the
I goods by the tranSferrer
Section 16S4m--45 Where a negotiable
receipt is transferred for value by delivery
and the Endorsement of the transformer IS
| essential for negotiation. the transferee ac-
| quires a right against the transferrer to
J contrary intention appears. The negota-
ton shall take effect as of the time when
the Endorsement is actually made.
Section 16S4m-46. person who for
| value nesotiates or transfers a receipt by
Endorsement or delivery, including one who
assigns for value claim secured by re-
| ceipt, unless contrary intention appears,
| warrants
| III That the receipt is genuine.
| CD That he has legal right to nego-
| (3) That he Aas knowledge Of no fact
which would impair the validity or worth
| of the receipt, and
| (4) That he has a right to transfer the
merchantable or at for a particular pur-
| pose whenever such warrantes would have
been Implied, II the contract OF the parties
| had been to transfer without a receipt the
/ goods represented thereby.
| Section 16S4m-47. The Endorsement of
| receipt shall not make the indorser liable
| for any failure on the part of the ware
houseman or previous indorsers Of the re-
ceipt to fulfill their respective obligations.
Section 16S4m-4S. A mortgagee. pledge,
| or holder for security Of receipt. who In
| good faith demands or receives payment Of
the. debt for which such receipt Is security,
| whether from party to a draft drawn for
! such debt or from any other person shall
/ not by doing be deemed to represent or
to warrant the genuineness Of such receipt
OF the quantity or quality Of the goods
Section 1684ln-4s. The validity Of the
I negotiation of receipt is not impaired by
| the fact that such negotiation was breach
! Of duty on the part Of the person making
| the negotiation or by the fact that the
! owner of the receipt was induced by fraud,
| or custody of the receipt to such person,
/ If the person to whom the receipt was me-
gotiated; or person to whom the receipt
was subsequently, negotiated, paid value
| therefor, without notice OF the breach OF
| duty, or fraud, mistake, OF duress.
| Section 16s4m-5O. Where person
| which are in warehouse and for which a
| negotiable receipt has been issued, OF hav-
| ing sold, mortgaged, or pledged the nego-
/ table receipt representing such goods, con-
| tinues in possession Of the negotiable re-
| ceipt. the subsequent negotiation thereof by
| that person under any sale, or other dispo-
| same in good faith, for value and without
| notice of the previous sale, mortgage, or
| pledge, shall have the. same effect as If the
| first purchaser of the goods or receipt had
expressly authorized the subsequent nego-
I tiation. ut.g4Y- 81
Section 16s4m-51 Where a negotiable
lien or right of stoppsge In transitu shall
| defeat the rights Of any purchaser for
value in good faith to whom such receipt
! has been negotiated, whether such nego-
| tiation be prior or subsequent to the notih-
cation to the warehpuSeman who Issued
such receipt of the sellers claim TO a lien
I the warehouseman be Obliged to deliver or
! justified In delivering the goods to an I'M
| paid seller unless the receipt is first sur
| Section 1684m--52. A warehouseman, or
any officer, agent. or servant Of a ware
houseman, who issues or aids in Issuing a
such receipt is issued have not been actu-
] ally received by such warehousemaD. or are
not under his actual control at the time of
issuing such receipt, shall, upon conyic-
| tion thereof, be punished by Imprisonment
| in the state prison for not more than I've
years nor less than one year, or by fine
not exceeding Ave thousand dollars. or by
both.
! Section 16S4m-53. warehouseman.
J or any officer, agent or servant OF ware
| houseman, who fraudulently Issues or aids
/ knowing that it contains any false state
| ment, shall, upon conviction thereof, be
| punished by imprisonment in the state pri-
son for not more than five years nor less
| than one year, or by fine not exceeding
/! five thousand dollars, or by both.
| Section 1684m-54. A warehousenan. or
! any officer, agent, or servant of ware
| houscman who issues or aids In issuing q
| duplicate or additional negotiable receipt
for goods, knowing that former negotiable
| receipt for the same goods or any part or
| them Is outstanding and uncancelled, with
! out plainly placing upon the. face thereof
| the word duplicate" except In the case OF
| as provided for in section 1684m-15, shall,
/ upon conviction thereof, be punished by i'm
I prisonment in the state prison for not more
! than five years nor less than one year, or
| by fine not exceeding Eve thousand dol
| lars or by both. i.
Section 1684m-55. Where there are de-
4 goods of which he is owner, either solely or
/ Jointly or in common with Others s1ch
1 werehouseman, or any Of his officers, agents,
1 or servants who, knowing this ownershlp,
/ issues or aids in Issuing negotiable re-
/ ceipt for such goods which does not state
| such ownership, shall, upon conviction
| the state prison for not more than Ave
| years nor less than one year. or by, fine
not exceeding five thousand dollars, or by
/ both. sStrs,f Ee
Section 1es4m-5s. warehouseman,
! or any officer agent or servant of a ware
! houseman who delivers goods out OF the
| possession of such warehouseman, knowing
| that a negotiable receipt, the negotiation of
which would transfer the right to the pos
| session of such goods, is outstanding and
uucancel1ed. without obtaining the posses
4 sion of such receipt at or before the Stlme
/ of such delivery SHALL except in the cases
/ provided for In sections 1684m--15 and
( 1684m-37, upon conviction thereof, be pun
I ished by Imprisonment In the state prison
! for not more than FIVE years nor less than
/ one year or byea fine not exceeding one
4 thousand dollars, or by both.
/ Section 16S4m--57, Any person who de-
/ posts goods to which he had not title, or
/ upon which there is a. lien or mortgage, and
| who takes for such goods a. negotiable re-
eeipt which he afterwards negotiates for
| value with intent to deceive and without
| disclosing his want Of title or the existence
! of the lien or mortgage, shall upon con-
| viction thereof, be punished by imprison-
| rnent in the state prison for not more than
/ one year. or by fine not exceeding one
thousand dollars, or by both.
/ or any officer. agent, or servant of ware
houseman. whe shall sell, inenmber, ship,
| transfer, or in any manner remove beyond
| the immediate control OF the warehouse
/ man any property deposited with such
| warehouseman upon such receipt, without
] shall upon conviction thereof be punished
! By Imprisonment in the state prison for not
! more than five years nor less than one year,
| or by fine not exceeding five Thousand dol
| lars or by both,
| Section 16S4m-59 Any person who
! shall wilfully alter OK destroy any receipt
! or register of receipts or any warehouse
| man, or any officer. agent, or servant Of
/ warehouseman, who shall issue any receipt
! without entering the same as required by
| section 16S4m-3, shall upon conviction
| thereof, be punished by Imprisonment In the