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90 1919—Chapter 65
straight bill
cannot be ne-gotiated
free
from equities.
Order bill ne-gotiable
by any
possessor if it is
in such form as
to be negotiated
by delivery.
Person to whom
order bill is
negotiated ac-qxiires
title of
negotiator and
the obligation of
the carrier to
deliver.
Transferee ac-quires
title sub-ject
to terms
of agreement
with transferer.
If straight bill
transferee upon
notice to carrier
becomes direct
obligee.
Prior to notifi-cation
right to
acquire obli-gation
of carrier
may be defeated
by attachment
or by subse-quent
sale.
Notification of
carrier, how
effective.
Transferee's
right to compel
indorsement
by transferer.
transfer the title to the bill or to the goods represented thereby.
A straight bill cannot be negotiated free from existing equities,
and the indorsement of such a bill gives the transferee no addi-tional
right.
Sec. 30. That an order bill may be negotiated by any person
in possession of the same, however such ix)Ssession may have been
acquired, if by the terms of the bill the carrier undertakes to
deliver the goods to the order of such person, or if at the time of
negotiation the bill is in such form that it may be negotiated by
delivery.
Sec 31. That a person to whom an order bill has been duly
negotiated acquires thereby
(«) Such title to the goods as the person negotiating the bill to
him had or had ability to convey to a purchaser iii good faith for
value, and also such title to the goods as the consignee and con-signor
had or had power to convey to a purchaser in good faith
for value ; and
(h) The direct obligation of the carrier to hold possession to
the goods for him according to the terms of the bill as fully as if
the carrier had contracted directly with him.
Sec. 32. That a person to whom a bill has been transferred, but
not negotiated, acquires thereby as against the transferer the title
to the goods, subject to the terms of any agreement with the
transferer. If the bill is a straight bill, such person also acquires
the right to notify the carrier of the transfer to him of such bill,
and thereby to become the direct obligee of whatever obligations
the carrier owed to the transferer of the bill immediately before
the notification.
Prior to the notification of the carrier by the transferer or trans-feree
to the goods and the right to acquire the obligation of the
carrier may be defeated by garnishment or by attachment or
execution upon the goods by a creditor of the transferer, or by a
notification to the carrier by the transferer or a subsequent pur-chaser
from the transferer of a subsequent sale of the goods by
the transferer.
A carrier has not received notification within the meaning of
this section unless an otficer or agent of the carrier, the actual or
apparent scope of whose duties includes action upon such a noti-fication,
shall be effective until the officer or agent to whom it is
given has had time, with the exercise of reasonable diligence, to
communicate with the agent or agents having actual possession or
control of the goods.
Sec. 33. That where an order bill is transferred for value by
delivery, and the indorsement of the transferer is essential for
negotiation, the transferee acquires a right against the transferer
to compel him to indorse the bill, unless a contrary intention
appears. The negotiation shall take effect as of the time when
Object Description
Description
| Title | Page 136 |
| Full Text | 90 1919—Chapter 65 straight bill cannot be ne-gotiated free from equities. Order bill ne-gotiable by any possessor if it is in such form as to be negotiated by delivery. Person to whom order bill is negotiated ac-qxiires title of negotiator and the obligation of the carrier to deliver. Transferee ac-quires title sub-ject to terms of agreement with transferer. If straight bill transferee upon notice to carrier becomes direct obligee. Prior to notifi-cation right to acquire obli-gation of carrier may be defeated by attachment or by subse-quent sale. Notification of carrier, how effective. Transferee's right to compel indorsement by transferer. transfer the title to the bill or to the goods represented thereby. A straight bill cannot be negotiated free from existing equities, and the indorsement of such a bill gives the transferee no addi-tional right. Sec. 30. That an order bill may be negotiated by any person in possession of the same, however such ix)Ssession may have been acquired, if by the terms of the bill the carrier undertakes to deliver the goods to the order of such person, or if at the time of negotiation the bill is in such form that it may be negotiated by delivery. Sec 31. That a person to whom an order bill has been duly negotiated acquires thereby («) Such title to the goods as the person negotiating the bill to him had or had ability to convey to a purchaser iii good faith for value, and also such title to the goods as the consignee and con-signor had or had power to convey to a purchaser in good faith for value ; and (h) The direct obligation of the carrier to hold possession to the goods for him according to the terms of the bill as fully as if the carrier had contracted directly with him. Sec. 32. That a person to whom a bill has been transferred, but not negotiated, acquires thereby as against the transferer the title to the goods, subject to the terms of any agreement with the transferer. If the bill is a straight bill, such person also acquires the right to notify the carrier of the transfer to him of such bill, and thereby to become the direct obligee of whatever obligations the carrier owed to the transferer of the bill immediately before the notification. Prior to the notification of the carrier by the transferer or trans-feree to the goods and the right to acquire the obligation of the carrier may be defeated by garnishment or by attachment or execution upon the goods by a creditor of the transferer, or by a notification to the carrier by the transferer or a subsequent pur-chaser from the transferer of a subsequent sale of the goods by the transferer. A carrier has not received notification within the meaning of this section unless an otficer or agent of the carrier, the actual or apparent scope of whose duties includes action upon such a noti-fication, shall be effective until the officer or agent to whom it is given has had time, with the exercise of reasonable diligence, to communicate with the agent or agents having actual possession or control of the goods. Sec. 33. That where an order bill is transferred for value by delivery, and the indorsement of the transferer is essential for negotiation, the transferee acquires a right against the transferer to compel him to indorse the bill, unless a contrary intention appears. The negotiation shall take effect as of the time when |
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