WAREHOUSED GOODS BILL.

New Zealand Times, Volume XXXI, Issue 4768, 4 July 1876, Page 2

WAREHOUSED GOODS BILL.

# Mr. G. McLean has introduced a Bill into the House of Eepresentatives, which has for its object the defining of the law relating to the rights of unpaid vendors of goods and merchandise stored in bond and free warehouses. The preamble runs thus :—Whereas goods and merchandise liable to the payment of Customs duties are commonly stored in bonded warehouses prior to the payment of such duties, and when so stored, the person importing and warehousing such goods and merchandise obtains from the warehouse-keeper warrants or certificates acknowledging the receipt thereof, and undertaking that such goods and merchandise shall be delivered up to the bearer or holder of the said warrants or certificates upon production thereof, and upon, payment of the duties, rents, and charges lawfully deraaudable; and whereas in the courseof trade or commerce the said warrants or certificates are frequently delivered over by the original importer and bonder of the goods - and merchandise to some other person on a sale or pledge of the goods and merchandise represented by such warrants or certificates, and the said warrants or certificates thereupon often pass from bond to bond without the said goods and merchandise being actually delivered, or any transfer of ownership being recorded in the books of the ware-house-keeper ; and whereas it has frequently happened that upon the non-payment of the price payable to the original importer or bonder of the goods and merchandise of, the first vendee thereof, the saidimporter or bonder has, as an unpaid vendor, succeeded in stopping the delivery of such goods and merchandise to the sub-vendees thereof to whom the said warrants or certificates have been delivered, or to other persons to whom the said warrants or certificates have been bona, fide pledged for value ; and whereas it is also desirable to make provision regarding the right of all unpaid vendors of goods and merchandise, either non - dutiable or whereon the Customs duties have been paid, when stored in wharehouses commonly known as free warehouses, and such goods and merchandise are represented by warrants or certificates transferrable by delivery: Be it enacted, &c. The marginal notes of the various clause? are as follow : 1. Short title. 2. Unpaid vendor’s lien determined on delivery of bond warrants to bona, fide holder for value.3. Possession of warrants prima facie evidence of ownership. i. The registered transferee of warrants to lose his right of lien of warrant afterwards delivered over bona fide and for value. 5. Warrants of free goods put on the same footing as bond warrants. 6. Vendors' lieu not prejudiced save as against bona fide sub-vendors- or pledgees for value. 7. Goods not to lie transferred in books of warehousemen except on production of warrant. 8. Special contracts restraining negotiability of warrants permitted. 9. Warehouseman’s lien not prejudiced by sale oi' transfer of goods. 10. Interpretation clause. 11. Act to come into operation on the Ist November next.