Page:United States Statutes at Large Volume 47 Part 1.djvu/1256

 1232 72d C ONGR ESS ._ SESS. II. CH. 128. FE BRUARY 27, 193i. written authority from the person so entitled either indorsed upon the receipt or written upon another paper ; or (c) A person in possession of a negotiable receipt by the terms of which the goods are delivered to him or order or to bearer, or which has been indorsed to him or in blank by the person to wh om delivery was promised by the terms of the receipt or by his mediate Liability for . or immediate endorsee. d Liaby. SEC. 738. WAREHOUSEMAN'S LIABILITY FOR MIS DELIvBRY:- W he r e a warehouseman delivers the goods to one who is not in fact lawfully entitled to the possession of them, the warehouseman shall be liable as for conversion to all having a right of property or possession in the goods if he delivered the goofs otherwise than as authorized b9 subdivisions (b) and (c) of section 737' and though he delivered the goods as authorized by said subdivisions he shall be so liable, if prio r to suc h deliver y he had either- - (a) Bee n requested, by or on behalf of the person, lawfully entitled to a right of property or possession in the goods, not to make such delivery ; or` (b) Had information that the delivery about to be made was to one not lawfully entitled to the possession of the goods. Canc ellat ion o f Gage SEC 739. NEGOTIABLE RECEIPTS MUST BE CANCELED OR MARKED WHEN liable receipts . Goons OR PART THEREOF ARE DELIVERED .-Except as provided in section P08Z ' p'. 762, where a warehouseman delivers goods for which he had issued a neg otiab le rec eipt, the negot iation of w hich would trans fer t he r ight to the poss ession o f the go ods, and fails to take up and can cel the receipt, he shall be liable to anyone who purchases for value in good faith such recei pt, f or fa ilure to de liver the g oods to hi m, whether such purchaser acquired title to the receipt before or after the delivery of the goods by the warehouseman. Except as pro vide d in said section 762, where a ware hous eman delivers part of the goods for which he had issued a 'neg oti able receipt and fails either to take up and cancel such receipt, or to • place plainly upon it a statement of what goods or packages ha ve been delivered he shall be liable, to anyone who purchases for value in good faith such receipt, for failure to deliver all the goods speci- fied in the receipt ; whether such purchaser acquired title to the receipt before or after the delivery of any portion of the goods by Ait9red m„ipts the warehouseman. SEC. 740. ALTERED RECxwra.-The alteration of a receipt shall not excuse the warehouseman who issued it from any liability if such alteration was (a Immaterial ; (b Authorized ; or (c) Made without fraudulent intent. Liability thereon. If the alteration was authorized, the warehouseman shall be liable according to, the terms of the receipt as altered. If the alteration was unauthorized, but made without fraudulent intent, the ware- houseman shall be liable according to the terms of the receipt, as they were before alteration. Material and fraudulent alteration of a receipt shall not excuse the warehouseman who issued it from liability to deliver according to the terms of the receipt as originally issued, the goods ?or which it was issued, but shall excuse him from any other liability to the person who made the alteration and to any person who took with notice of the alteration. any purchaser of the receipt for value without notice of the alteration shaacquire the sam e rights against the warehouseman which su ch purchaser would have acquired if the receipt had not been altered at the time of the purchase.