Page:United States Statutes at Large Volume 76A.djvu/260

–164– -164one year thereafter, it shall be covered into the Treasury of the United States as miscellaneous receipts. At any time before the goods are so sold, any person claiming a right of property or possession therein may pay the warehouseman the amount necessary to satisfy his lien and to pay the reasonable expenses and liabilities incurred in serving and posting notices and preparing for the sale up to the time of the payment. The warehouseman shall deliver the goods to the person making the payment if he is a person entitled, under this subchapter, to the possession of the goods on payment of the charges thereon. Otherwise the warehouseman shall retain possession of the goods according to the terms of the original contract of deposit. § 1807. Perishable and hazardous goods If goods are of a perishable nature, or by keeping will deteriorate greatly in value, or by their odor, leakage, inflammability, or explosive nature will be liable to injure other property, the warehouseman may give such notice to the owner, or to the person in whose name the goods are stored, as is reasonable and possible under the circumstances, to satisfy the lien upon the goods and to remove them from the warehouse, and in the event of the failure of the person to satisfy the lien and to remove the goods within the time so specified, the warehouseman may sell the goods at public or private sale without posting notices. If the warehouseman after a reasonable effort is unable to sell the goods, he may dispose of them in any lawful manner, and shall incur no liability by reason thereof. The proceeds of a sale made under this section shall be disposed of in the same way as the proceeds of sales made pursuant to section 1806 of this title. § 1808. Other methods of enforcing liens The remedy for enforcing a lien herein provided does not preclude any other remedies allowed by law for the enforcement of a lien against personal property nor bar the right to recover so much of the warehouseman's claim as is not paid by the proceeds of the sale of the property. ^ 1809. Eflfect of sale After goods have been lawfully sold to satisfy a Avarehousemau'S Hen, or have been lawfully sold or disposed of because of their perishable or hazardous nature, the warehouseman is not liable for failure to deliver the goods to the depositor, or OAvner of the goods, or to a holder of the receipt given for the goods when they were deposited, even if the receipt is negotiable. Article C—Negotiation and Transfer of Receipts § 1811. Negotiation of negotiable receipts by delivery A negotiable receipt may be negotiated by delivery: (1) where, by the terms of the receipt, the warehouseman undertakes to deliver the goods to the bearer; or (2) where, by the terms of the receipt, the warehouseman undertakes to deliver the goods to the order of a specified person, and that person or a subsequent indorsee of the receipt has indorsed it in blank or to bearer. Where, by the terms of a negotiable receipt, ithe goods are deliverable to bearer or where a negotiable receipt has been mdorsed in blank or to bearer, any holder may indorse the same to himself or to any other specified person, and in that case the receipt may thereafter be negotiated only by the indorsement of such indorsee.

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