Page:United States Statutes at Large Volume 39 Part 1.djvu/565

 544 SI.XTY~FOURTH CONGRESS. Sess. I. Ch. 415. 1916. such warranties would have been implied if the contract of the parties had been to transfer without a bill the represented thereby. u,I,;L§‘{}_ °’ "'°°””'° Sec. 35. That the indorsement of a br shall not make therndorser liplgp fpgllany diin the part of tlliplgcatrirrer or previous rndorsers o e to eirres tiveo 'a`ons. ariilililllliiuiilln xiii Sec. 36. That a mortgageiicdzr pledgee or_other holder of a bill for “°°"""’·°"* security who in glrfod faith demands or receives payment of the debt for which such br is security,_whether from a party to a draft drawn for such debt or from any otner person, shall not be_deemed by so doing to replresent or warrant the genumeness of such bill or the quantitg or qua  of the goods therein   _ _ _ mgdgeiw ¤f,¤•¢·*§; no. 37. at the validity of   negotiation of a bill rs not rm- "nu}; ac. ot sm paired by the fact that such negotiation was a breach of duty on the "'°°¢‘““’ ’°l‘L part of the person  the negot1ation,_ or bfy the fact that the owner of the bill was deprived of the possession o the same by fraud, accident, mistake, duress, loss, theft, or conversion, if the rson to whom the bill was negotiated, or a person to whom the billpvlras subsequentl negotiated, gave value therefor in good faith, without notice ofy the reach of uty, or fraud, accident, mistake, durms, loss, V M., 0, B tb theft, or conversion. urn by   ru Sec. 38. That where a person, having sold, mortgl ed, or pledged YP_,{;'{£,g%;,,§ *°°'” oods which are rn a came1’s(possession and for w   an order ill has been issued, or having sol, mortgaged, or pled ed the order bill ‘ re resenting such goods, continues in possession of ghe order bill, the subsequent negotiation thereof by that person under any sale, pledge, or other disposition thereof to any person receiving the same m ood faith, for value and without notice of the revious sale shall have thesameeffectasifthefirstpurchaseroftiKl1egoodsorl>illhadex— for mm pressly authorized the subsequent r§otiation. ee., qempt from Seri Sec. 39. That where an order b' has been issued for goods no g’g_,s}*¤¤=· °*°-· °° sel1er’s lien or right of stoppage in transitu shall defeat the rights of any purchaser for value m good faith to whom such bill has been negotiated, whether such negotiation be prior or subsequent to the notificationto the carrier who issued such bill of the sellers claim to a hen or r?ht of stoppgze m transitu. Nor shall the carrier be obliged to ehver or Jus ed in delivering the goods to an unpaid mgm Mmm seller unless such bill is first surrendered for cancellation. mou¤¤aonc¤.°°°°°° _ Sec. 40. That, except as_ provided in section thirty-nine, nothing in this Act shall limit the rights and remedies of a mortgagee or lien ho_lder whose mortgage or hen on goods would be valid, apart from this Act, as against one who for value and in ood faith purchased from the owner, immediately prior to the time 0% their delivery to the carrier, the goods which are subject to the mortgage or hen and ,,un,shm_m, ,0, obtained possession of them. gomogmomsg, em., Sm:. 41. That any person who, knowingly or with intent to defraud ‘ falsely makes, alters, forges, cormterfeits, prints or photogra hs any bill of lading purporting to reglresent goods received for slrfipment among the several States or wi foreign nations, or with like intent utters or publishes as true and genuine any such falsely altered forged counterfeited, falsely prmted or photographed bill of ladig knowing it tolpedfalselydzggltered, fgnriedglwmwrfeited, falsely print ’or· photo- ISs¤_m· 8 {gx sum, grap e 7 or 8*1_ In ma y te · y forging. COl1Ilt.8l’f6lt' 0 ' mma, or photographing, or uttering orgfiglishing the same, or in issuing or procuring the issue of, or negotiates or transfers for value www pmvisim 8, bill which contains a false statement as to the receipt of the goods mms Ac:. or as to any other matter, or who, with intent to defraud violates, or f arls to comply with, or aids in an violation of, or failure to compl , with any provision of this Act, shallybe guilty of a misdemeanor amfr upon conviction, shall be punished for each offense by imprisonment not exceeding five years, or by a fine not exceeding $5,000, or both.