Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1909-07-21

recf obligation of the warehouseman to
hold possession of the goods for HIM &C
cording 10 the terms of the receipt.
5. Prior 10 the not fcaton of the ware
honseman by the tEansferrer or transferee
OF non-negotiahle receipt. tie title OF the
tYarsfaree to the goods and the right to ac-
,I.!irs the obigat on of the warehouseman
may be defeated by the levy OF an altach-
iGent or execution upon the goods y
creditor Of the fransferrer. or by notlhca-
ton 70 the warehouseman by the trans
ferrer or a subsequent purchaser from tne
transferrer of a subsequent sale or the
goods by the Transformer
Section 16S4m-45. Where negotiable
receipt is transferred for value by delivery.
and the inGos easement of the Transformer IS
essential for negotiation. the transferee ac-
quires. right against the transfefrer TO
contrary Intention appears The negotia-
ton shall take effect as of the time when
the Endorsement is actually made
Section IGSin--46. person who for
value negotiates or transfers receipt by
Endorsement or delivery. Including one who
assigns for value claim secured By re-
ceipt unless a contrary intention appears,
warrants
III That the receipt is genuine
90 That he has legal right to nero
tiate transfer 1t.
which would impair the validity or worth
of the receipt and
al That he has right 10 transfer the
title to the goods, and that the. goods are
pose whenever such warranties would have
been implied. If the contract Of the parties
had been TO transfer without receipt the
goods represented thereby.
Section 16S4m-47. The Endorsement OF
q receipt shall not make the indorser liable
for any failure on the part of the ware
cept to fulfill their respective obligations
Section 16S4m-4S mortgage, pledgee
or holder for security Of receipt. who IN
good faith demands or receives payment Of
4 ho dabf frr nh Itch Iph
whether from party to draft drawn TOT
such debt or from any other person. snail
not by so doing be deemed to represent or
to warrant the genuineness or such recelpt
or the quantity or quality OF the goods
therein described.
Section 16S4m-49 The validity Of the
negotiation of receipt Is not impaired oy
Of duty on the part Of the person making
the negotiation. or by the fact that the
owner of the receipt was induced Dy frand.
mistake, or duress to entrust the possession
or custody OF the receipt to such person.
II the person to whom the receipt was ne.
gotiated or q person to whom the receipt
therefor. without notice Of the breach of
duty, or fraud mistake. or duress.
Section 16S4m-5O Where person
having sold. mortgaged, or pledged goods
negotiable receipt has been Issued or hav-
Ing sold. mortgaged. or pledged the nego-
table receipt representing SUCH GOODS; con
ceipt. the subsequent negotiation thereof by
that person under any sale. or other dispo-
sition thereof to any person receiving the
same In good faith; for value ana w1snon ut
pledge. shall have the same effect as II the
first purchaser of the goods or receipt had
expressly authorized the subsequent nego-
tiation.
Section 16S4m-51 Where a negotiable
receipt has been issued for goods. no sellers
lien or right of stoppage In transitu snail
value in good faith to whom such receipt
has been negotiated whether such nego-
tiation be prior or subsequent to the notf..
cation to the, warehouseman who Issued
or right of stoppage In transtu. Nor shall
the warehouseman be obliged to deliver or
justified in delivering the goods to an un-
rendered for cancellation
Section 16S4m-52. A warehouse;nan, or
any officer, agent. or servant OF ware
houseman. who issues or aids IN Issuing
receipt, knowing that the goods for which
such receipt is issued have not been actu-
ally received by such warehouseman. or are
not under hls actual control at the time of
Issuing such receipt. shall, upon convic-
ton thereof, be punished by Imprisonment
In the state prison for not more than i've
years nor less than one year or by hne
not exceeding five thousand dollars. or by
both.
Section 16S4m--53. warehouseman.
or any officer. agent or servant of ware
houseman, who fraudulently Issues or AIDS
in fraudulently issuing a receipt for GOODS
ment. shall, upon conviction thereof. be
punished by Imprisonment In the state pri-
son for not more than Eve years nor less
1--WE thousand dollars or by both.
Section 16S4m-54. A warehouseman. or
any officer, agent or servant OF ware
duplicate or additional negotiable receipt
for goods knowing that a 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 Ia the case OF
a lost or destroyed receipt after proceedings
as provided for in section 16S4m-lb. shaH,
upon conviction thereof. be punished by i'm
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 l6S4m-55. Where there are de-
pos ted with or held by warehouseman
goods Of which he Is owner, either solely or
Jointly or in common with others such
or servants who, knowing this ownership
issues or ads in Issuing a negotiable re
ceipt for such goods which does not state
such ownership, 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 dollars, or by
both.
Section 1es4nf-5e warehouseman
or any officer, agent. or servant of ware
houseman who delivers goods out of the
of such warehouseman, knowing
that negotiable receipt, the negotiation OF
which would transfer the right to the pos
session Of such goods, is outstanding and
without obtaining the posses
OF such delivery. shall. except in the cases
provided for In sections 16S4m-15 and
16S4m-37 upon conviction thereof. be pun
ished by Imprisonment In the state prison
for not more than five years nor less than
one year, or by fine not exceeding one
thousand dollars. or by both.
Section 16S4m--57. Any person who de-
posits goods to which he had not title. or
upon which there is lien or mortgage, and
who takes for such goods q negotiable re-
ceipt which he afterwards negotiates for
disclosing his want Of title or the existence
of the lien or mortgage, shall upon con-
viction thereof, be punished by imprison-
ment in the state prison for not more than
thousand dollars. or by both.
Section 16s4m-5s warehouseman
or any officer, agent. or servant of ware
houseman. who shall sell, incumber. 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 Icy fine not exceeding five thousand dol
lars or by both
Section 16s4m-59. Any person who
shall wilfuily alter or destroy any receipt
or register of receipts any warehouse
man. or any officer agent. or servant of
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
state prison for not more than five years
nor less than one year. or by q fine not ex-
coed ng five thousand dollars, or by both
Section 16S4m-60 In any case not pro-
vided for IN this act, the rules of law and
equity including the law merchant and in
particular the rules relating to the law of
and agent and to the effect of
fraud m representation. duress or coer-
cion, mistake. bankruptcy. or other inval-