The Republican journal. [volume] (Belfast, Me.) 1829-current, 1917-04-05

the possession Of the same by fraud,
accident, mistake, duress or conversion,
gotiated. or person to whom the bill
was subsequently negotiated gave
value therefor, in good faith, without
accident. mistake. duress or conversion.
Section 80. Where a person having
are IN carriers possession and for
when S negotiable bill has been issued,
the negotiable bill representing such
goods, continues in possession of the
negotiable bill. the subsequent negotia-
, ton thereof by that person undeA any
sale. pledge or other disposition Gre-
OF to any person receiving the same in
Gee Of The for yaus and
the same effect as if the first purchas-
er of the goods or bill had expressly au-
thorized the subsequent negotiation.
Section 40; Where goods are shipped
contract or order for their purchase, the
form in which the bill is taken by the
consignor shall indicate the transfer or
retention of the property or right to
the possession of the goods as follows:
.ta) Where by the bill the goods are
deliverable to the buyer or to his agent,
or to the order Of the buyer or of :. his
the property in the goods to the buyer.
(b) Where by the bill the goods are
deliverable to the seller or to his agent.
o or to the order rider of the seller or of his his
property in the goods But it. except
for the form of the bill, the property
would have passed to the buyer on ship
ment Of the goods, the sellers property
for the purpose of securing perform
ance by the buyer of his obligations
Co Where BY the bill the goods are
deliverable to the order of the buyer or
OF his agent, but possession of the bill
is retained by the seller or his agent.
the seller thereby reserves a right to
the buyer.
(d) Where the seller draws on the
draft and bill together to the buyer to
secure acceptance or payment of the
draft, the buyer is bound to return the
If he wrongfully retains the bill he
acquires no added right thereby If,
however. the bill provides that the
to to the order of the buyer, or is Endorsed
in blank or to the buyer by the con-
signee named therein, one who pur-
ehases in good faith, for value, the bill
the title to the goods. although the
draft has not been honored if such
purchaser has received delivery of the
bill Endorsed, by the .consignee named
therein, or of the goods, without notice
or the facts making the transfer wrong
Section Al Where the seller of goods
draws on the buyer for the price of
the goods and transmits the draft and
a,r bill of lading for the goods either
directly to the buyer or through Il
bank or other agency, unless different
intention on the part of the seller APP
pears, the buyer and all other parties
ing:
(D If the draft is BY it's terms or
legal effect payable on demand or pre-
sentation or at sight or not more than
three days thereafter (whether such
three days be termed days of grace or
noD, that the seller intended to require
should be entitled to receive or retain
OBJ If the draft is by its terms pay
days after demand. Presentation or
sight whether such three days be
termed days of grace or not). that the
but not payment of the he draft teg Before
the buyer should be entitled to receive
or retain the bill.
The provisions of this section are
bill the goods are consigned to the
seller, or to his order, or to the buyer,
or to his order, or to a third person, or
to his order
Section AZ. Where a negotiable bill
has been issued for goods, no sellers
lien or right of stoppage in transitu
shall defeat the rights Of any purchaser
for value in good faith to whom such
bill has been negotiated, whether such
negotiation be prior, or subsequent to
the notification to the carrier who is
sued such bill of the sellers claim to
a lien. or right of stoppage in transitu.
Nor shall the carrier be obliged to de-
liver or justified in delivering the goods
~ to an unpaid seller unless such bill is
first surrendered for cancellation.
SECTION 49, Except ept,t as provided in
shall limit the rights and remedies of
mortgage or lienholder whose mort
gage or lien on goods would be valid,
,nr<f y.0y, ia 1of incl y,
for value and in good faith purchased
from the owner Immediately prior to
the time of their delivery to the car
rier, the goods which are subject to the
mortgage or lien and obtained possess
sion of them.
Section "A. Any officer. agent. or SER
defraud issues or aids in issuing a bill
knowing that all or any part of the
goods for which such bill is issued have
not been received by such carrier or by
an agent of such carrier or by a con-
Meeting carrier. or are not under the
carriers control at the time of issuing
such bill. shall be guilty Of a crime;
for each offence by Imprisonment not
exceeding five years or by tine not
exceeding five thousand dollars, or by
both.
Section As. Any officer. agent, or SER
want of a carrier, who with intent to
defraud issues or aids in issuing a hi
for goods knowing that it contains any
false statement shall be guilty of
crime. and upon conviction shall be
punished for each offense by mprison
ment not exceeding one year. or by Il
fine not exceeding one thousand dollars,
or by both.
Section As. Any officer. agent, or ser
want of a carrier, who with intent to
defraud issues or aids in issuing q du
plicate or additional negotiable bill for
goods in violation of the provisions of
section seven, knowing that a former
negotiable bill for the same goods
any part of them is outstanding and
uncancelled. shall be guilty of crime
and upon conviction shall be punished
for each offense by Imprisonment n"
exceeding five years, or by a fine not
exceeding five thousand dollars, by
both.
Section Al. Any person who ships
goods to which he has not title. or upon
which there is lien or mortgage, and
who takes for such goods a negotiable
bill which he afterwards negotiateS for
value with intent to deceive and with
out disclosing his want of title or the
existence of the lien or mortgage, sha'
be guilty of crime. and upon convic-
ton shall be punished for each offence
by Imprisonment not exceeding one
year, or by a fine not exceeding one
thousand dollars or by both.
Section As. Any person who with in
tent to deceive negotiates or transfers
for value a bill knowing that any or all
of the goods which by the terms of such
bill appear to have been received for
transportation by the carrier which is
sued the bill, are not in the possession
or control of such carrier. or of con-
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