34-288. Effect of negotiation of receipt on previous sale, mortgage or pledge. - Kansas Statutes

34-288

Chapter 34.--GRAIN AND FORAGE Article 2.--INSPECTING, SAMPLING, STORING, WEIGHING AND GRADING GRAIN; TERMINAL AND LOCAL WAREHOUSES

      34-288.   Effect of negotiation of receipt on previous sale, mortgage orpledge.When a person having sold, mortgaged or pledged grain which is in awarehouse and for which a negotiable receipt has been issued, or havingsold, mortgaged, or pledged the negotiable receipt representing such grain,continues in possession of the negotiable receipt, the subsequentnegotiation thereof by that person under any sale, or other dispositionthereof, to any person receiving the same in good faith, for value andwithout notice of the previous sale, mortgage or pledge, shall have thesame effect as if the first purchaser of the grain or receipt had expresslyauthorized the subsequent negotiations.

      History:   L. 1931, ch. 194, § 66; July 1.