Page:United States Statutes at Large Volume 36 Part 1.djvu/333

SIXTY-FIRST CONGRESS. Sess. II. Ch. 167. 1910. 309 Sec. 46. No WARRANTY IMPLIED mom ACCEPTING PAYMENT on A plgg gglafggggpgmg DEBT.—A mortgagee, pledgee, or holder for security of a receipt who pamemoraem. ub in good faith demands or receives payment of the debt for which such receipt is security, whether from a arty to a draft drawn for such debt or from any other person, shall) not by so doing be deemed to represent or to warrant the genuineness of such receipt or the quantity or quality of the goods therein described. Sec. 47. WHEN NEGOTIATION NOT IMPAIRED BY FRAUD, MISTAKE, mV&*x;1¤¤,r{;§g)¤*{g;;%¤ OR DURESS.·—Th6 validity of the negotiation of a receipt is not em. pa Y ' impaired by the fact that such negotiation was a breach of duty on the part of the person making the negotiation, or by the fact that the owner of the receipt was induced b fraud, mistake, or duress to intrust the plossession or custody of tfie receipt to such person, if the person to w om the receipt was negotiated, or a person to whom the receipt was subsegxuently negotiated, paid value therefor, without notice of the breac of duty, or fraud, mistake, or duress. Sec. 48. SUBSEQUENT Nno0TIATIoN.—Where a person havinglsold, "S¤1¤?¤q¤e¤¢¤é’gg¤¢i•· mortgaged, or pledged goods which are in a warehouse and for w ich a aliifvzrgaffdp °°° negotia le receipt has been issued, or having sold, mortgaged, or pledged the negotiable receipt representing such goods, continues in possession of the negotiab e recei t, the subsequent ne otiation thereof by that person under any sale, or other disposition thereof to any person receiving the same in good faith, for value and without notice of the previous sale, mortgage, or pledge, shall have the same effect as if the first purchaser oiptlie goods or receipt had expressly authorized the subsequent negotiation. Sec. 49. NEGOTIATION DEFEATS VENDOB,S LIEN.—Wh0Y8 a nego- { \{·;gdg;’¤ lie? dei tiable receipt has been issued for goods no seller’s lien or right of ¤°$`g0u.m{ ¤2$ei$e.° stoppetge in transitu shall defeat the rights of any purchaser for value in goo faith to whom such receipt has been negotiated, whether such negotiation be prior or subsequent to the notification to the warehouseman who issued such recei t of the seller’s claim to alien or right of stoppage in transitu. Nor slfiall the warehouseman be obliged to deliver or justified in delivering the goods to an unpaid seller unless the receipt is first surrendered for cancellation. PART IV. CRIMINAL orrnxsns. °"°°'"·‘°”°“*‘°* Sec. 50. Isstyn on RECEIPT FOR GOODS NOT RECEIVED.—A ware- g0{j‘;‘;*{:g,j?e<é*;Q¤;[,d'°* houseman, or any officer, agent, or servant of a warehouseman, who ° issues or aids in issuing a receip)t knowing that the goods for which such receipt is issued have not een actually receiver by such warehouseman, or are not under his actual control at the time of issuing such recei t, shall be_guilty of a crime, and upon conviction shall be unished fdr each offense by imprisonment not exceeding live years or by a fine not exceeding five thousand dollars, or by both. Sec. 51. Isson or Rncnrrr ooN·rA1N1NG FALSE STATENIENT.——A ,,,{§§,§‘g,§§‘§’§§f,§ warehouseman, or any officer, agent, or servant of a warehouseman, ¤¤¤¤¤· who fraudulently issues or aids In fraudulently issuing a receipt for goods knowing that it contains any false statement, shall be guilty of a crime, and upon conviction shall be punished for each offense by imprisonment not exceeding one year or by a fine not exceeding one thousand dollars, or by both. _ _ Sec. 52. Issrn or DUPLICATE Rnonrryrs Nor so MARKnD.—A ware- ce{§’,§'},‘§,d§g‘}Q,‘§§‘}fe'§_` houseman, or any officer, agent, or servant of a warehouseman, who issues or aids in issuing a duplicate or additional negotiable receipt for oods knowing that a former negotiable receipt for the_ same goori or any part of them is outstanding and uncanceled, without plainly placing upon the face thereof the word "Dupl1cate," except 88740°———vo1. 36, PT 1-11--22