Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-04-11

certain conditions have been fulfilled.
The right OF possession or property
may thus be reserved notwithstand-
| ing the delivery of the goods to the
buyer or to a carrier or other bailee
for the purpose of transmission to
the buyer.
by the bill of lading the goods are
! deliverable to the seller or his agent,
or to the order of the seller or of his
| agent, the seller thereby reserves the
J property in the goods; But IT. ex-
ing, the property would have passed
| to the buyer on shipment of the
goods. the sellers property IN the
goods shall be deemed to be only for
the purpose of securing performance
by the buyer of his obligations I'M
der the contract.
! 90 Where goods are shipped. and
| by the bill of lading the goods are
deliverable to the order of the buyer
or Of his agent. but possession or the
| bill Of lading Is retained by the seller
or his agent. the seller thereby re-
serves a right to the possession Of
the goods as against the buyer.
% Where the seller Of goods
| draws on the buyer for the
Of pf''e exchange and bill of lading
| together to the buyer to secure &C.
| ceptance or payment Of the bill OF
| exchange, the buyer is bound to re-
turn the bin Of lading If ne does "nd not q
| he wrongfully retains the bill Of lad
| ing he acquires no added right there
| by. If, however. the bill Of lading
| provides that the goods are deliver
Of the buyer. or is Endorsed in blank.
or to the buyer by the consignee
| named therein, one who purchases
| in good faith, for value. the bin or
| fading, or goods from the buyer will
| obtain the property in the goods. al
| though the bill OF exchange has not
| been honored. provided that such
purchaser has received delivery of
| the bill Of lading indorsed by the
| consignee named therein. or Of the
| goods, without notice Of the facts.
| making the transfer wrongful.
! Sec. 21. In the case of sale by
auction
% Where goods are put up for
sale by auction in lots. each lot is
the subject of separate contract OF
| sale.
| (2) A sale by auction is complete
| when the auctioneer announces its
| completion by the fall of the ham
mer. or in other customary manner
| Until such Announcement is made. any
bidder may retract his bid; and the
| the auctioneer may Withdraw the
| goods from sale unless the auction
| has been announced to be without
| reserve.
60 A right to bid may be re-
| served expressly by or on behalf of
the seller.
90 Where notice has not been
| given that sale by auction is sub
| ject to n right to bid on behalf of
the seller. it shall not be lawful for
| the seller to bid himself or to en-
ploy or induce any person to bid at
such sale on his behalf. or for the
auctioneer to employ or induce any
| person to bid at such sale on behalf
any bid from the seller or any
person employed by him. Any sale
| contravenne this rule may be treat
ed as fraudulent by the buyer.
Sec. %. Unless otherwise agreed.
the goods remain at the sellers risk
| until the property therein is trans
ferred to the buyer, but when the
property therein is transferred to the
| buyer the goods are at the buyer s
risk whether delivery has been made
| or not except that
ta) Where delivery of the goods
has been made to the buyer, or
to bailee for the buyer. in. pur-
suance of the contract and the
retained by the' seller merely to
secure performance by the buyer
of his obligations under the con
| tract. the goods are at the buyer 5
tb) Where delivery has been de-
layed through the fault of either
the buyer or seller the goods are
at the risk of the party in fault
as regards any loss which might
not have occurred but for such
Sec. %. uD Subject to the pro-
visions of this act. where goods are
| sold by a person who is not the
owner thereof. and who does not sell
them under the authority or with
the consent of the owner. the buyer
! acquires no better title to the goods
err of the goods is by his conduct
precluded from denying the sellers
authority to sell.
4 2) Nothing in this act. however
(a) The provisions of any fac
tors acts. recording acts, or any
enactment enabling. the apparent
owner of goods to dispose of them
as if he were the true owner there
(b) The validity of any contract
to sell or sale under any special
common law or statutory power OF
sale or under the order of court
of competent jurisdiction.
Sec. "a. Where the seller of goods
has a voidable title thereto. but his
title has not been avoided at the
good title to the goods. provided
he buys them in good faith. for value
and without notice of the sellers de-
feet of title.
| Il
sold goods continues in possession OF
! the goods. or of negotiable docu-
ments of title to the goods. the de
livery or transfer by that person. or
goods or documents of title under
any sale, pledge. or other DISPOSE
ton thereof, to any person receiving
and paying value for the same in
good faith and without notice of the
previous sale. shall have the same
effect as if the person making the
delivery or transfer We're expressly
authorized by the owner of the goods
to make the same.
Sec. 26. Where Il person having
sold goods continues in possession of
the goods. or of negotiable docu-
mcnts of title to the goods and such
in fact or is deemed fraudulent under
any rule OF law. creditor or credi-
tors Of the seller may treat the sale
as void.
Sec. 81 A document of title in
which it is stated that the goods re-
TERED to therein will be delivered
to the bearer. or to the order of any
person named in such document is
neSotiable document of title.
Sec. 2S. A negotiable document of
title may be negotiated by delivery
(a) Where by the terms of the
document the carrier. warehouse
man or other bailee issuing the
goods to the bearer. or
% Where by the terms of the
document the carrier. warehouse
man or other. bailee issuing tho
same undertakes to deliver the
goods to the order of a specified
person. and such person or a sub
sequent indorsee of the document
has Endorsed it in blank or to the
| bearer.
Where by the terms of negotiable
document of title the goods are de-
liVcrable to bearer or where a nego-