The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1917-04-12

SO sold any person claiming . right
OF property or possession t d may
necessary to satisfy his lien and to
pay the reasonable expenses and liza
bii1ties incurred In serving notices
and advertising and preparing for the
sale up to the time s Of sueh payment mt
good to tho person making such pay
mem II he Is a person entitled, under
the provisions of this act. to the pos.
session Of tho goods on payment of
houseman shall retain possession Of
the goods according to the terms of
the original contract OF deposit
Section 50 If goods are OF 8 per.
ishable nature. or by keeping will de-
teriorate greatly IN value, or by their
plosive nature. will be liable to injure
other property, the warehouseman may
give such notice to the owner. or to
the person IN whose name the goods
sible under tho circumstances, to sat
isfy the lien upon such goods. and to
remove them from the warehouse. and
in tho event of the failure of such
person TO satisfy the lien and to re-
move the goods within the time SO
specified. the wsrehouseman may sell
the goods at public or private sale
without advertising. IF the ware
houscman after q reasonable effort 10
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 under
the terms OF this section shall be dis
posed OF In tho same way as the pro-
ceeds Of sales made under the terms
0i SETON tof as The remedy for enforc-
ing lien herein provided does not
by law for the enforcement OF a lien
against personal property nor bar the
right TO recover so much of the ware
housenan's claim as shall not be paid
by the proceeds of the sale of the
section So After goods have been
lawfully sold to satisfy a warehouse
mans Hen or have been lawfully sold
or disposed of because of thetr per-
ishable or hazardous nature, the ware
able for failure to deliver the goods
to the depositor or owner of the
goods. or to a holder Of tho receipt
given for tho goods when they were
deposited. even If such receipt be ne
section 81. A negotiable receipt
may be negotiated by delivery:
Ca Where. by the terms Of the re-
ceipf the warehouseman undertakes
to deliver tho goods to the bearer, or
(M Where by the terms Of the re-
ceipt the warehouseman undertakes
to DELIVER the goods to The order OF
specified person, and such person or
subsequent indorsee Of the receipt
has lndorsed II In blank or 10 bearer.
Whcre. by the terms of negoti-
able receipt, the goods are deliverable
to bcarer or where negotiable re-
ceip, has been Endorsed in blank or TO
same TO himself or to any other speci-
fed person. and in such case The re-
ceipt shal thereafter be negotiated
only by tho Endorsement Of such in
dorscc
Section 49, A negotiable receipt
may b. negotiated by the Endorsement
of the person to whose order tho
goods are, by the terms of the receipt,
deliverable. Such endorsement may
be In blank to bearer or to n specified
person n endorsed to specified per-
son, It may be again negotiated by tho
end rscment of such person In blank,
to hoarcr or to another. specified per
son subsequent negotiation may be
made In like manner
Section 80. A receipt which Is not
in such form that It can be negotiated
by delivery may be transferred by tho
holder by delivery 10 purchaser or
done.
A negotiable receipt cannot be
negotiated. and tho Enforcement OF
such a receipt gives the transferee no
Section 40 A negotiable receipt
may be negotiated:
Ia BY the owner thereof, or
(b) BY any person to whom the
pose. sion or custody of tho receipt
has teen entrusted by the owners II,
by Tho term Of the receipt The WARE
housonan undertakes to deliver the
goods to the order of the person TO
whom the possession or custody OF
tho receipt has been entrust ed. or II
at the time OF such entrustlug the re-
IN.
negotiated by delivery
Section Al A person to whom "A ne
gotiahlo receipt has been duly nego-
tiated acquires thereby:
(a) Such title to tho goods as tho
persou negotiating tho receipt 10 him
had or had ability TO convey 10 pur-
chaser In good faith for value. and
also such title TO the goods as tho
deposition or person TO whose order
the goods were to be delivered by the
terms Of the receipt had or had abil
ity 10 convey to a pug ,haser In good
faith for value, and
(b) Tho direct obligation Of tho
ehousaman to hold posscgsion Of
terms Of the receipt as fully IA If the
warehouseman had contracted directly
with him.
Section AZ A person to whom a re-
negotiated, acquires thereby, as
goods. subject to tho terms or any
agreement with the TRANSFORM.
II tho receipt Is non-negotiable such
person also acquires the right to mo-
tify the warehouseman of the trans
fer to him Of such receipt and there
by TO acquire the direct obligation OF
the wsrehouseman to hold possession
OF tho goods for him according to the
terms of the receipt
Prior to the notification of the ware
housoman by the transferor or trans
feree OF a non-negotiable receipt, the
title OF tho transferee to the goods
ton t on the War 70 sss may be- a.
feated by tho levy Of an attachment
or execution upon tho goods by
creditor of the transferor. or by q
notification to the warehouseman by
the transferor or subsequent pur-
chaser from the transferor OF a sub
sequent sale OF the goods by the trans
feror.
Section 4s Where a negotiable re-
ceipt Is transferred for value by do
TRANSFORM 10 essential for negotiation,
tho transferee acquires a right against
the transferor to compel him TO in
dorse the receipt. unless contrary
shall take effect as of the time when
tho Endorsement 10 actually made
Section a. A person who for value
negotates or transfers receipt by In
0OrSrHpnt OF 0eilVeTyi one
who assigns for value a claim secured
by receipt, unless q contrary inten-
tion appears, warrants:
(a) That the receipt Is genuine.
(b) That he has q legal right to
negotiate or transfer It.
tc) That he has knowledge OF no
fact which would impair the validity
or worth OF the receipt, and
(d) That he has right to trans
for the title to the goods and that
a
a particular purpose whenever such
warranties would have been implied
II tho contract OF the parties had been
represented thereby.
Section AZ. The Endorsement .of a
receipt shall not make the indorser
liable for any failure on the part OF
the WRreho uaenan or previous indoors