Title acquired under the receipt as fully as if the warehouseman had contracted directly with him. 282. § 42. A person to whom a receipt has been transferred but not negotiated, acquires thereby, as against the other con- transferor, the title to the goods, subject to the terms of ditions. Title ac endorse ment. any agreement with the transferor. If the receipt is nonnegotiable such person also acquires the right to notify the warehouseman in writing of the transfer to him of such receipt, and thereby to acquire the direct obligation of the warehouseman to hold possession of the goods for him according to the terms of the receipt. Prior to the written notification of the warehouseman by the transferor or transferee of a non-negotiable receipt, the title of the transferee to the goods and the right to acquire the obligation of the warehouseman may be defeated by the levy of an attachment or execution upon the goods by a creditor of the transferor, or by notification in writing to the warehouseman by the transferor or a subsequent purchaser from the transferor of a subsequent sale of the goods by the transferor. 283. § 43. Where a negotiable receipt is transferred quired by for value by delivery, and the indorsement of the transferor is essential for negotiation, the transferee acquires the right against the transferor to compel him to indorse the receipt, unless a contrary intention appears. The negotiation shall take effect as of the time when the indorsement is actually made. Person negotiating warrants certain conditions. Indorser not liable. Mortgagee, etc., does not warrant. 284. § 44. A person who for value negotiates or transfers a receipt by indorsement or delivery, including one who assigns for value a claim secured by a receipt, unless a contrary intention appears, warrants— (a) That the receipt is genuine. (b) That he has a legal right to negotiate or transfer it. (c) That he has knowledge of no fact which would impair the validity or worth of the receipt, and (d) That he has a right to transfer the title to the goods, and that the goods are merchantable or fit for a particular purpose whenever such warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented thereby. 285. § 45. The endorsement of a receipt shall not make the indorser liable for any failure on the part of the warehouseman or previous indorsers of the receipt to fulfill their respective obligations. 286. 46. A mortgagee, pledgee or holder for security of a receipt who in good faith, demands or receives payment of the debt for which such receipt is security, whether from a party 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. negotiation not impairedconditions. 287. § 47. The validity of the negotiation of a receipt Validity of is not 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 by fraud, mistake, or duress to entrust the possession or custody of the receipt to such person, if the person to whom the receipt was negotiated, or a person to whom the receipt was subsequently negotiated, paid value therefor, without notice of the breach of duty, or fraud, mistake or duress. sale, etc., not invalidatedconditions. 288. § 48. Where a person having sold, mortgaged, or Subsequent pledged goods which are in a warehouse and for which a negotiable receipt has been issued, or having sold, mortgaged, or pledged the negotiable receipt representing such goods, continues in possession of the negotiable receipt, the subsequent negotiation 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 of the goods or receipt had expressly authorized the subsequent negotiation. 289. § 49. Where a negotiable receipt has been issued for goods, no seller's lien or right of stoppage in transitu shall defeat the rights of any purchaser for value in good faith to whom such receipt has been negotiated, whether such negotiation be prior or subsequent to the notification to the warehouseman who issued such receipt of the seller's claim to a lien or right of stoppage in transitu. Nor shall the warehouseman be obliged to deliver or justified in delivering the goods to an unpaid seller unless the receipt is first surrendered for cancellation. Purchaser in good rights not faith, defeated. ARTICE IV.-CRIMINAL OFFENSES. issued in fraudcrimepenalty. 290. 50. A warehouseman, or any officer, agent or Receipt servant of a warehouseman, who issues or aids in issuing a receipt knowing that the goods for which such receipt is issued have not been actually received by such warehouseman, or are not under his actual control at the time of issuing such receipt, shall be guilty of a crime, and upon conviction shall be punished for each offense by imprisonment not exceeding five years, or by a fine not exceeding five thousand dollars, or by both. 291. § 51. A warehouseman, or any officer, agent or False stateservant 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 mentcrime penalty. Duplicate receipts issuedcrimepenalty. Ownership not stated on receiptcrime penalty. 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. 292. § 52. A warehouseman, or any officer, agent or servant of a warehouseman, who issues or aids in issuing a duplicate or additional negotiable receipt for goods knowing that a former negotiable receipt for the same goods or any part of them is outstanding and uncancelled, without plainly placing upon the face thereof the word "Duplicate," except in the case of a lost or destroyed receipt after proceedings as provided for in section 14, shall be guilty of a crime, and upon conviction shall be punished for each offense by imprisonment not exceeding five years, or by a fine not exceeding five thousand dollars, or by both. 293. § 53. Where there are deposited with or held by a warehouseman goods of which he is the owner, either solely or jointly or in common with others, such warehouseman, or any of his officers, agents, or servants who, knowing this ownership, issues or aids in issuing a negotiable receipt for such goods which does not state such ownership, 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. 294. 54. A warehouseman, or any officer, agent, or servant of a warehouseman who delivers goods out of the standing possession of such warehouseman, knowing that a negotiable receipt the negotiation of which would transfer the right to the possession of such goods is outstanding and uncancelled, without obtaining the possession of such receipt at or before the time of such delivery, shall, except in the cases provided for in sections 14 and 36, be found 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. Goods delivered, receipt out crime penalty. Deposit of goods without title, 295. § 55. Any person who deposits goods to which he has not title, or upon which there is a lien or mortgage, sells nego- and who takes for such goods a negotiable receipt which he tiable receiptcrime penalty. Where no special afterwards negotiates for value with intent to deceive and without disclosing his want of title or the existence of the lien or mortgage 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. ARTICLE V.-INTERPRETATION. 296. § 56. In any case not provided for in this Act, the provision, rules of law and equity, including the law merchant, and in particular the rules relating to the law of principal and agent law to govern. and to the effects of fraud, misrepresentation, duress or coercion, mistake, bankruptcy, or other invalidating cause, shall govern. 297. § 57. This Act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. 298. § 58. (1) In this Act, unless the context or sub- Interpretaject matter otherwise requires— "Action" includes counter claim, set-off, and suit in equity. "Delivery" means voluntary transfer of possession from one person to another. "Fungible goods" means goods of which any unit is, from. its nature, or by mercantile custom, treated as the equivalent of any other unit. "Goods" means chattels or merchandise in storage, or which has been or is about to be stored. "Holder" of a receipt means a person who has both actual possession of such receipt and a right of property therein. "Order" means an order by indorsement on the receipt. "Owner" does not include mortgagee or pledgee. "Person" includes a corporation or partnership or two or more persons having a joint or common interest. "To purchase" includes to take as mortgagee or as pledgee. "Purchaser" includes mortgagee and pledgee. "Receipt" means warehouse receipt. 'Value" is any consideration sufficient to support a simple contract. An antecedent or pre-existing obligation, whether for money or not, constitutes value where a receipt is taken either in satisfaction thereof or as security therefor. "Warehouseman" means a person lawfully engaged in the business of storing goods for profit. (2) A thing is done "in good faith" within the meaning of this Act, when it is in fact done honestly, whether it be done negligently or not. tion of Act. ply prior to 299. § 59. The provisions of this Act do not apply to Act not to apreceipts made and delivered prior to the taking effect of this passage. Act. 300. § 60. All Acts or parts of Acts inconsistent with Repeal with this Act are hereby repealed: Provided, however, that noth-exceptions, ing in this Act shall be construed to repeal any of the provisions of an Act entitled, "An Act to regulate public warehouses and the warehousing and inspection of grain and to give effect to article thirteen of the constitution of this State," (approved April 25, 1871, in force July 1, 1871), except in so far as said last named Act relates to warehouse receipts for property stored in public warehouses of class C, or to repeal the provisions of an Act entitled "An Act providing for the issuing and the cancellation of receipts. |for public warehouses or warehouses of class A or class B in the State of Illinois, and providing penalties for violation thereof," (approved May 11, 1901, in force July 1, 1901). STREET RAILWAYS-VESTIBULES FOR CARS. § 1. Screens or vestibules must be pro- § 2. Penalty for violation of Act. Ap AN ACT to provide screens or vestibules for motormen and conductors on the street railway cars, and for a penalty for violation of this Act. 301. § 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That every cable, grip, electric, horse or other street car, other than trail cars, which are attached to motor cars, shall be provided during the months of November, December, January, February and March of each year, at both ends with a screen or vestibule constructed of glass or other material, which shall fully and completely protect the driver or motorman, or gripman, or conductor, or other persons stationed on both ends and guiding or directing the motor power by which they are propelled from wind and storm.. 302. § 2. Any person, agent or officer of any association or corporation violating the provisions of this Act shall, upon conviction, be fined in any sum not less than $25.00 nor more than $100.00, for each day each car belonging to and used by any such person, association or corporation is directed or permitted to remain unprovided with the screen required in section I of this Act; and it is hereby made the duty of the prosecuting attorney of each county in this State to institute the necessary proceedings to enforce the provisions of this Act. APPROVED May 11, 1903. STREET RAILWAYS OVER BRIDGES. § 1. Provides for building of street railways over bridges. AN ACT to give companies leasing, operating or controlling bridges connecting cities, towns or villages in this State with cities, towns or villages in adjoining states, power to lease, own, construct and operate street railways over such bridge and in adjoining counties, and acquire stock in and guarantee bonds of such street railways. SECTION I. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That any company owing [owning], leasing, operating or controlling a bridge connecting any city, town or village in the State with any city, town or village of any adjoining state, may lease, own, construct and operate a street railway over such bridge and in such cities, towns or villages and counties in which same may be situated, and in adjoining counties, and may also acquire and hold stock and guarantee bonds of any company operating such street railway or railways. APPROVED June 4, 1897. |