The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-07-29

such receipt, and thereby to acquire the al
rect obligation Of the warehouseman to
hold possession Of the goods for him ac-
cording TO the terms of the receipt.
3. Prior TO the notification of the ware
/ hOUSeman by the tranSferrer or tranSIeree
of non-negotiable receipt: TIE title OF the
transferee to the goods and the right to &C.
. quire the obligat on of the warehouseman
may be defeated by the levy of an attach
ment or execution upon the goods by a
creditor of the transferrer. Or by notlhca-
tion to the warehouseman by the trans
ferrer or a subsequent purchaser from the
transferrer of subsequent sale of the
goods by the transformer.
Section 16S4m-45. Where a negotiable
receipt is transferred for value by delivery,
and the Endorsement of the transferrer IS
essential for negotiation the transferee &C.
! quires a right against the transferrer to
compel him to indorse the receipt, unless a
contrary intention appears. The negot'a-
ton shall take effect as Of the time whan
the Endorsement is actually made.
/ Section 16S4m-46. person who for
value negotiates transfers a receipt by
Endorsement or delivery. including one who
assigns for value a claim secured by re-
! ceipt unless a contrary intention appears,
/ warrants
a. That the receipt Is genuine.
! (2) That he has legal right to nego-
tiate or transfer 1t.
~ That he has knowledge of ne fact
, which would Impair the validity or worth
| Of the receipt. and
a. That he has right to transfer the
title to the goods. and that the goods ara
understandable or At for particular pur-
pose whenever such warrantes would have
been implied. II the contract of the parties
had been to transfer without a receipt the
e' Section 1Ss4m-47 The Endorsement Of
| receipt shall not make the indorser liable
for any failure on the part Of the NV ware re-
ceipt to fulfill their respective obligations
Section i6S4m-4s. MORTGAGE. pledge.
or holder for security Of receipt who IN II,
good faith demands or receives payment or
! the debt for which such receipt 10 security,
whether from a party to draft draw TOE
such debt or from any other person. snail
! not by 60 doing be deemed to represent or
to warrant the genuineness of such receipt
or the quantity, or quality OF the goods
/ therein described.
Section n684m-49. The validity Of the
| the fact that such negotiation was breach
| Of duty on the part Of the person making
the negotiation, or by the fact IL tna sro the
| mistake, or duress to entrust the possession
| or custody Of the receipt to such person,
| IL the person to whom the receipt was ne ne
| gotta ted, or a person to whom the receipt
was subsequently, negotiated. paid value
duty, or fraud, mistake. or duress: ..a.n
having sold. mortgaged. or pledged goods
| which are in warehouse and for which
| negotiable receipt has been issued. or hay
| table receipt representing such goods, con-
| tinpes in possession Of the negotiable re-
ceipt, the subsequent negotiation Thereon Oy
that person under any sale. or other dispo.
| same In good faith. for value and without
notice of the previous sale. mortgage. or
| first purchaser Of the goods or receipt had
expressly authorized the subsequent nego-
| tiation.
Section 16s4m-51. Where q negotiable
receipt has been issued for goods. no sellers
| lien or right of stoppage IN transitu shall
defeat the rights Of any purchaser for
has been negotiated. whether such nego-
| tiation be prior or subsequent to the Motif.
| cation to the warehouseman who Issued
or right of stoppage in transitu. Nor shall
! the warehouseman be obliged to deliver or
justified in delivering the goods to an I'M
paid seller unless the receipt Ii first sur
| rendered for cancellation
Section 16s4m--52. warehouseynan. 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 his actual control at the time or
issuing such receipt. shall. upon convic.
ton 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 ave thousand dollars. or oy
both.
Section 16S4m-53. A warehouseman.
or any officer. agent, or servant OF ware
houseman, who fraudulently Issues or aids
knowing that 1t contains any raise stare
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
Ave thousand dollars. or by both.
Section 16S4m-54. warehouseman. or
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 outsta nding and uncaneelled. with.
out plainly placing upon the race thereoI
the word duplicate" except In the case OF
as provided for in section l6S4m-lS. shall.
upon conviction thereof. be punished by I'M
prsonment In the state prison for not more
than five years nor less than one year. or
lars or by both.
Section l6s4m-55. Where there are de-
goods of which he is owner. either solely or
Jointly or in common with Others, such
warehouseman,, or any OF his oihcers. agents
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
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.
Section 16s4m-S8. A warehouseman,
or any officer, agent. or servant of ware
houseman who delivers goods out or the
possession of such warehOuseman, knowing
that a negotiable receipt. the negotiation or
which would transfer the right to the pos
session of such goods, is outstanding ana
uncancelled. without obtaining the posses
sion of such receipt at or before the time
of such delivery. shall. except In the cases
provided for In sections 16S4m-15 and
16S4m-31 upon conviction thereon. be pun
ished by Imprisonment In the state prison
for not more than Eve 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 mortga and
who tal-es 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-
one year. or by a fine not exceeding one
thousand dollars, or by both.
Section 16S4m-58. A warehouseman,
or any officer, agent, or servant OF ware
houseman, who shall SELL lncumber, ship,
transfer. or In any manner remove beyond
the Immediate control of the warehouse
man any property deposited with sucn
warehouseman upon such receipt, without
the consent OF the holder of such receipt,
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 dol
lars. or by both. .4 So ~ . ~ ~ ' -
Section 16S4m-~59.t Any person who
or register Of receipts or any warehouse
man. or any officer, agent. or servant or q
warehouseman. who shall Issue any receipt
without entering the same as required by
thereof be punished by Imprisonment In the
state prison for not more than five years
nor less than one year. or by fine not ex-
coed ng five Thousand dollars, or by both.
H.. x..,N VNaf