Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-04-09

IL the pcTSoIi ~ WIohi tHO I'LL WNS
gotiated, or a person to whom the bill
was subsequently negotiated, gave
value therefor, in good faith, without
notice OF the breach a,. OF duty or lrlnu'
Section SO. Where a person having
sold. mortgaged. or pledged goods which
are in a carriers possession and Tor
which negotiable bill has been issued;
or having sold. mortgaged. or pledged
the negotiable bill representing such
goods, continues in possession of the
negotiable bill the subsequent negotia-
tion thereof by that person under. any
sale, pledge, or other disposition there
of to any person receiving the same in
good faith. for value and WITHOUT no
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
by the ). consignor in . accordance with ~,
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;
(a) 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
agent, the consignor thereby transfers
the property in the goods to the buyer.
CD Where by the bill the goods are
deliverable to the seller or to his agent
or to the order of the seller or of his
agent, the seller thereby reserves the
for the form of the bill, the property
would have passed to the buyer on ship
ment of the goods, the sellers property
in the goods shall be deemed to be only
for the purpose of securing perform
ance by the buyer of his obligations
under the contract.
go 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
buyer for the price and transmits the
draft and bill together to the buyer to
draft, the buyer is bound to return the
bill if he does not honor the draft. and
acquires no added right thereby. IT,
however. the bill provides that the
goods are deliverable to the buyer. or
to the order of the buyer or is Endorsed
in blank or to the buyer by the con-
signee named therein, one who pur-
chases in good faith, for value, the bill
or goods from the buyer shall obtain
draft has not been honored. if such
purchaser has received delivery of the
bill Endorsed by the consignee named
OF the facts making the transfer wrong
Section II. Where the seller of goods
the goods and transmits the draft and
a bill of lading for the goods either
directly to the buyer or through
intention on the part of the seller ap-
pears. the buyer and all other parties
interested shall be justified in assum-
ing:
1p # the draft is by its terms or
legal effect payable on demand or pre-
sentation or at sight or not more than
three days be termed days of grace or
not), that the seller intended to require
payment of the draft before the buyer
should be entitled to receive or retain
OBJ If the draft is by it's terms pay
able on time, extending beyond three
days after demand, presentation or
termed days of grace or nop. that the
seller intended to require acceptance,
but not payment of the draft before
or retain the bill.
applicable whether by the. terms of the
bin 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.
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 such
negotiation be prior or subsequent TO
the notification to the carrier who is
sued such biz 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 43. Except, as provided in
section forty-two, nothing in this act
shall limit the rights and remedies of
a MORTGAGE or lienholder whose mort
gage or lien on goods would be valid.
apart from this act. as against one who
for value and in good faith purchased
the time of their delivery to the car
rier the goods which are subject to the
mortgage or lien and obtained posses
sion of them. .
Section a. Any officer. agent. or ser
want of carrier. who with intent to
defraud issues or aids in issuing 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 con-
Meeting carrier; or are not under me
such bill. shall be guilty OF crime.
and upon conviction shall be punished
for each offence by Imprisonment not
exceeding five thousand dollars, or Ds
both.
Section As Any officer. agent. or ser
want of carrier. who's with intent to
defraud issues or aids in issuing hi
for goods knowing that il contains any
false statement. shall be. guilty Of
crime. and upon conviction shall be
ment not exceeding zone year. or by 4
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 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 or
any part of them is outstanding ana
uncancelled. shall be guilty of n crime
and upon conviction shall be punished
for each offense by imprisonment n"
exceeding five years, or by fine not
exceeding five thousand dollars, or by
both.
Section A. ANY person who ships
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, SIN
be guilty of a crime. and upon convic-
tion shall be punished for each offence
by Imprisonment not exceeding one
year, or by fine not exceeding one
thousand dollars or by both.
Section AS. Amy person who with in
tent to deceive negotiates or transfers
for value 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
Meeting carrier, without disclosing this
fact. shall be guilty Of crime. and
upon conviction shall be punished for
each offenSe nv impriSOnmeut not