C-53 - Act respecting bills of lading, receipts and transfers of property in stock

Section 1 Disposition versions

1977-12-31

1. Any bill of lading, or any receipt given by a warehouseman, miller, wharfinger, master of a vessel or carrier for cereal grains, goods, wares or merchandise stored or deposited or to be stored or deposited in any warehouse, mill or other place in Québec, or shipped in any vessel, or delivered to any carrier for carriage from any place to any part of Québec, or through the same, or on the waters bordering thereon, or from the same to any other place, and whether such cereal grains are to be delivered upon such receipt in kind or converted into flour, may, by endorsement thereon by the owner of or person entitled to receive such cereal grains, goods, wares or merchandise, or his attorney or agent, be transferred as collateral security for the payment of any bill of exchange or note or of any debt due.

Such endorsement shall vest in the endorsee from the date of such endorsement, all the right and title of the endorser to or in such cereal grains, goods, wares or merchandise, subject to the right of the endorser to have the same re-transferred to him if such bill, note or debt be paid when due.

R. S. 1964, c. 318, s. 1.