Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13

IF the receipt is non-negotiab1e such
person also acquires the right TO noIl!y Ing
warehouseman of the transfer to him OF
such receipt and thereby TO acquire the o.
rect obligation of the warehouseman TO
hold possession of the goods Tor MIN ac
cording 10 the terms of the receipt
s. Prior to the notification OF the ware
| houseman by the transferrer or transferee
of non-negotiable receipt; the titie OF the o
| transferee to the goods and the right TO &C
| quire the Obligation of the warehouseman
! may be defeated by the levy of an attach
creditor of the transferrer, or by notlhca-
/ ton to the warehouseman by the trans
ferrer or subsequent purchaser from the
| transferrer OF a subsequent sale OF the
goS Saeti IS ' I6s4 i64F. Where negotiable
receipt is transferred for value by delivery,
and the Endorsement of the transferrer IS
! essential for negotiation. the transteree &C
quires a right against the transferrer TO
compel him TO indorse the receipt, unless
! contrary intention appears. The negotia-
ton shall take effect as of the time when
the Endorsement is actually made. 60
Section 16s4nn--46 p, person 0 VINO 1 or
| Endorsement or delivery, including one VINO
assigns for value claim secured by re-
ceipt, unless a contrary intention appears
| warrants
81 That the receipt is genuine.
90 That he has legal right TO nego-
<, That he has knowledge of no fact
which would impair the validity OF worth
| of the receipt, and
title to the goods, and that the goods are
merchantable or fit for a particular pur-
pose whenever such warranties would have
| been implied, if the contract of the parties
had been to transfer without o receipt the
goods represented thereby:
| Section 16s4m-47. The Endorsement OF
| a receipt shall not make the tndorser liable
for any failure on the part of the ware
| houseman or previous indorsers OF the re-
to fq Pge
| or holder for security of receipt, who IN
| good faith demands or receives payment or
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 so doing be deemed to represent or
| to warrant the genuineness OF such receipt
or the quantity or quality OF the goods
Section 18S4m-4e, The validity of the
( 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
mistake, or duress to entrust the possession
or custody of the receipt to such person,
if the person to whom the receipt was ne ne.
gotiated; or a person to whom the receipt
was subsequently negotiated pa sno " yaln ae
duty or fraud mista6e or vS duress rorson
having sold. mortgaged, or pledged goods
which are in a warehouse and for which
| ing sold, mortgaged, or pledged the nego-
table receipt representing such goods; con-
! tinues in possession or the negotlaDle re-
! 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 and without
notice Of the previous sale, mortgage, or
| 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. 10 sellers
| lien or right of stoppage in trans1tu shall
! rights purchaser
| value in good faith to whom such receipt
| has been negotiated, whether such nego-
cation to the warehouseman who issued
such receipt Of the sellers claim to a lien
! or right of stoppage In transitu. Nor shall
the Warehouseman be obliged to deliver or
justified in delivering the goods to an IN
| paid seller unless the receipt is first sur
rendered for cancellation.
| any officer, agent, or servant Of a ware
! houseman, who issues or aids in Issuing a
receipt sn9wng that the goods b Tor When +
| ally received by such warehouseman, or are
not under his actual control at the time OF
| Issuing such receipt, shall, upon convSc-
| ton thereof, be punished by Imprisonment
| in the state prison for not more than five
years nor less than one year, or by fine
| both.
Section 16S4m--53. 4 warehouseman,
J or any officer, agent, or servant of ware
Nhouseman, who fraudulently issues or aids
knowing that it contains any false state
ment, shall, upon conviction thereof, be
Son Son for for not OF more than i've years nor less
| than one year, or by fine not exceeding
Eve thousand dollars, OF, by both.
any officer agent, or servant of a ware
| hoUseman who issues or aids in issuing
duplicate or additional negotiable receipt
! for goods, knowing that former negotiable
receipt for the same goods or any part OF
them is outstanding and uncancelled, with.
out plainly paeng upon the n f ace of
! a lost or destroyed receipt after proceedings
| as provided for in section 1684m-15, shall,
upon conviction thereof, be punished by I'M
| prisonment in the state prison for not more
| than Eve years nor less than one year, or
| by fine not exceeding five thousand dol
| lars or by both
posted with or held by Warehouseman
| Jointly or in common with Others, such
or servants who, knowing this ownership,
issues or aids in issuing a negotiable ere re,
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 a fine
| not exceeding five thousand dollars, or by
both.
Section 16S4m-56. A warehouseman,
or any Officer agent OF sern a Of ware re
| possession 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
uneanceed without obtaining lag the =, posses ss
t of such delivery, shall, except in the cases
/ provided for in sections 16s4m-15 and
ished by imprisonment in the state prison
for not more than five years nor less than
| one year or by a fine not exceeding one
thousand dollars, or by both.
Section 16s4m-57; Any person who de-
upon which there is lien or mortgage, and
who takes for such goods NEGOTIABLE re-
| 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-
ment in the state prison for not more than
one year, or by a fine. not exceeding one
| thousand dollars, or by both.
Section 16s4m-58. warehouseman,
or any oeer agent , OF ro servant OF ware ai
transfer or in any manner remove beyond
the immediate control of the warehouse
| MON anv nrnuarfv 6aDoSi%nd with