The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1913-03-05

houseman after a reasonable effort is
unable to sell such goods, he may dis
pose Of them in any lawful manner.
and shall incur no liability by reason
thereof.
The proceeds of any sale made un-
der the terms of this section shall be
disposed OF in the same way as the
proceeds Of sales made under the
terms of the preceding section.
Sec. 30. The remedy for enforcing
lien herein provided does not pre-
clude any other remedies allowed by
law for the enforcement of a lien
against personal property nor bar the
right to recover SO much of the ware
houseman's claim as shall not be paid
by the proceeds of the sale of the
property
Sec. SO. After goods have been law
fully sold to satisfy a warehouseman's
lien, or have been lawfully sold or
disposed of because of their perish
able or hazardous nature, the ware
houseman shall not thereafter be H.
able for failure to deliver the goods
to the depositor, or owner of the
goods, or to holder of the recent
given for the goods when they were
deposited, even if such receipt be ne
gotiable.
Sec. 81. A negotiable receipt may
be negotiated by delivery
ta) Where, by the terms of the
receipt, the warehouseman undertakes
10 deliver the goods to the bearer. or
Cd Where, by the terms of the
receipt, the warehouseman undertakes
to deliver the goods to the order of
a specified person, and such person or
a subsequent indorsee of the receipt
has Endorsed it in blank or to bearer.
Where, by the terms of negotiable
receipt, the goods are deliverable TO
bearer or where a negotiable receipt
has been Endorsed in blank or to bear
er, any holder may indorse the same
10 himself or to any other specified
person, and in such case the receipt
shall thereafter be negotiated only by
the Endorsement of such indorsee.
Sec. SO. A negotiable receipt may
be negotiated by the Endorsement OF
the person to whose order the goods
are, by the terms of the receipt. de-
liverable. Such Endorsement may be
in blank, TO bearer or to a specified
person If Endorsed to specified
person. it may be again negotiated by
the Endorsement of such person in
blank, to bearer or to another specified
person. Subsequent negotiation may
be made in like manner.
Sec. 80. A receipt which is not In
such form that it can be negotiated
by delivery may be transferred by the
holder by delivery to a purchaser or
donee
A non-negotiable receipt cannot be
negotiated, and the Endorsement of
such a receipt gives the transferee no
additional right.
Sec. 40. A negotiable receipt may
be negotiated
(a) BY the owner thereof. or
(h) BY any person to whom the
possession or custody of the receipt
has been entrusted by the owner, if.
by the terms of the receipt. the ware
houseman undertakes to deliver the
goods to the order of the person to
whom the possession or custody of the
receipt has been entrusted, or if at
the time of such entrusting the re-
ceipt is In such form that It may be
negotiated by delivery.
Sec. Al. A person to whom a nego-
table receipt has been duly negotiated
acquires thereby
ta) Such title to the goods as the
person negotiating the receipt to him
had or had ability to convey to a pur-
chaser in good faith for value, and
also such title TO the goods as the
depositor or person to whose order
the goods we're to be delivered by the
terms OF the receipt had or had abil-
ity TO convey TO a purchaser in good
faith for value, and
OBJ The direct obligation OF the
warehouseman to hold possession OF
the goods for him according to the
terms of the receipt as fully as if the
warehouseman had contracted directly
with him.
Sec. AZ. A person to whom a receipt
has been transferred but not negoti-
ated. acquires thereby, as against the
tranSeror, the title of the goods. sub
ject to the terms of any agreement
with the transferor.
If the receipt is non-negotiable such
person also acquires the right to noti-
fly the warehouseman of the transfer
10 him of such receipt, and thereby
20 acquire the direct obligation of
the warehouseman TO hold possession
of the goods for him according to the
terms of the receipt.
Prior TO the notification of the ware
houscman by the transferor or trans
fierce of a non-negotiable receipt, the
title of the transferee to the goods
and the right to acquire the obliga-
ton of the warehouseman may be
defeated by the levy of an attachment
or execution upon the goods by a
creditor Of the transferor, or by a no.
tification TO the warehouseman by
the transferor or a subsequent pur-
chaser from the transferor of a sub
sequent sale of the goods by the trans
feror.
Sec 43. Where a negotiable re-
ceipt is transferred for value by de-
livery. and the Endorsement Of the
transferor is essential for negotia-
ton. the transferee acquires a right
against the transferor to compel him
to indorse the receipt, unless a con-
.trary intention appears. The negotia-
ton shall take effect as of the time
when the Endorsement is actually
made.
Sec. A. A person who for value ne
gotiates or transfers a receipt by in
dorsement or delivery. including one
who assigns for value a claim secured
by receipt, unless a contrary inten-
ton appears. warrants
(a) That the receipt is genuine,
(b) That he has a legal right TO
negotiate or transfer Il.
tc) That he has knowledge OF no
fact which would impair the validity
or worth Of the receipt, and
(d) That he has a right TO trans