Page 136 |
Previous | 136 of 684 | Next |
|
small (250x250 max)
medium (500x500 max)
Large
Extra Large
large ( > 500x500)
Full Resolution
All (PDF)
|
This page
All
|
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 |