Factors Act 1889
1889 c.45 52_and_53_Vict
An Act to amend and consolidate the Factors Acts.
[26th August 1889]
Annotations: | |
Modifications etc. (not altering text) | |
C1 | Act extended with modifications (S.) by Factors (Scotland) Act 1890 (c. 40); saved retrospectively by Hire-Purchase Act 1964 (c. 53), ss. 27(5)(b), 35(3) |
C2 | Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3 |
C3 | This Act is not necessarily in the form in which it has effect in Northern Ireland |
Preliminary
1. (1) The expression “mercantile agent” shall mean a mercantile agent having in the customary course of his business as such agent authority either to sell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of goods: (2) A person shall be deemed to be in possession of goods or of the documents of title to goods, where the goods or documents are in his actual custody or are held by any other person subject to his control or for him or on his behalf: (3) The expression “goods” shall include wares and merchandise: (4) The expression “document of title” shall include any bill of lading, dock warrant, warehouse-keeper’s certificate, and warrant or order for the delivery of goods, and any other document used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented: (5) The expression “pledge” shall include any contract pledging, or giving a lien or security on, goods, whether in consideration of an original advance or of any further or continuing advance or of any pecuniary liability: (6) The expression “person” shall include any body of persons corporate or unincorporate.
Definitions.
For the purposes of this Act— Dispositions by Mercantile Agents
2. (2) Where a mercantile agent has, with the consent of the owner, been in possession of goods or of the documents of title to goods, any sale, pledge, or other disposition, which would have been valid if the consent had continued, shall be valid notwithstanding the determination…
Powers of mercantile agent with respect to disposition of goods.
— (1) Where a mercantile agent is, with the consent of the owner, in possession of goods or of the documents of title to goods, any sale, pledge, or other disposition of the goods, made by him when acting in the ordinary course of business of a mercantile agent, shall, subject to the provisions of this Act, be as valid as if he were expressly authorised by the owner of the goods to make the same; provided that the person taking under the disposition acts in good faith, and has not at the time of the disposition notice that the person making the disposition has not authority to make the same.