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C-53 - Act respecting bills of lading, receipts and transfers of property in stock
Section 8
Disposition versions
8. The security created by any such endorsement of any such receipt or bill of lading shall not be effective for any period exceeding twelve months; and no transfer of any such receipt or any bill of lading shall be made to secure the payment of any bill of exchange, note, debt or liability unless the same is negociated or contracted at the same time with the endorsement of such receipt or bill of lading or unless a written promise or agreement that such security would be given is made at the same time that such bill of exchange, note, debt or liability is negociated or contracted; provided, however, that such bill, note, debt or liability may be renewed or the time for payment thereof extended without affecting the security so created.
No sale of any such logs, pulpwood or other timber, boards, deals, staves or other lumber or products thereof or property into which the same or any thereof shall have been converted, shall, without the consent in writing of the owner thereof, be made, unless notice of the time and place of such sale shall have been given to such owner by registered or certified letter sent by mail at least thirty days prior to the sale thereof.
Every such sale shall be made by public auction after notice thereof by advertisement, stating the time and place thereof, for at least eight days consecutively in at least two daily newspapers, one in French and the other in English, published in or nearest to the place where such sale is to be made.
A daily newspaper shall be deemed to be published nearest to a place, if no other daily newspaper be published in the same language in or nearer to such place; and if in any such place where any such sale by auction is to be made, there be not any newspaper published daily in either language, but some newspaper or newspapers be published in such language less often than daily, then such advertisement shall also be published in every issue of such local newspaper, or of at least one of such local newspapers, during the time of its being published in daily newspapers.
