Images de page
PDF
ePub

8 4219. Waiver of demand for performance

A debtor or pledgor waives a demand for performance as a condition precedent to a sale of the property pledged, by a positive refusal to perform, after performance is due; but may not waive it in any other manner except by contract.

§ 4220. Manner of sale

The sale by pledgee, of property pledged, must be made by public auction, in the manner and upon the notice of sale of personal property under execution.

§ 4221. Pledgee's sale of securities; collection

A pledgee may not sell evidences of debt pledged to him, except the obligations of governments, States, or corporations; but he may collect them when due.

8 4222. Sale on demand of pledgor

Whenever property pledged can be sold for a price sufficient to satisfy the claim of the pledgee, the pledgor may require it to be sold, and its proceeds to be applied to the satisfaction, when due.

§ 4223. Payment of surplus to pledgor after sale

After a pledgee has lawfully sold property pledged, or otherwise collected its proceeds, he may deduct therefrom the amount due under the principal obligation, and the necessary expenses of sale and collection, and shall pay the surplus to the pledgor, on demand.

8 4224.

Retention, by pledgee, of all that can become due

When property pledged is sold by order of the pledgor before the claim of the pledgee is due, the latter may retain out of the proceeds all that can possibly become due under his claim until it becomes due. § 4225. Purchase of property by pledgee or pledge holder

Whenever property pledged is sold at public auction, in the manner provided by section 4220 of this title, the pledgee or pledge holder may purchase the property at the sale.

§ 4226. Foreclosure, by judicial sale, of right of redemption

Instead of selling property pledged, as herein before provided, a pledgee may foreclose the right of redemption by a judicial sale, under the direction of a competent court; and in that case may be authorized by the court to purchase at the sale.

Sec.

CHAPTER 103-OTHER LIENS

4261. Liens on personal property for services thereon.

(a) Generally.

(b) Livery and feed-stable, etc., proprietors.

(c) Foundry proprietors.

(d) Laundry and dry cleaning proprietors.
(e) Veterinary proprietors and surgeons.

(f) Garage keepers.

4262. Limitation on amount of lien unless notice given. 4263. Sale of property by lien holder; notice; proceeds.

4264. Factor's lien.

4265. Banker's lien.

4266. Officer's lien.

§ 4261. Liens on personal property for services thereon

(a) Generally.

Whoever, while lawfully in possession of an article of personal property, renders any service to the owner thereof, by labor or skill, employed for the protection, improvement, safekeeping, or carriage thereof, has a special lien thereon, dependent on possession, for the

compensation, if any, which is due to him from the owner for the service; and whoever makes, alters, or repairs any article of personal property, at the request of the owner or legal possessor of the property, has a lien thereon for his reasonable charges for the balance due for the work done and materials furnished, and may retain possession of the property until the charges are paid.

(b) Livery and feed-stable, etc., proprietors.

Livery or boarding or feed-stable or feed-yard proprietors, and persons pasturing horses or stock, have a lien, dependent on possession, for their compensation in caring for, boarding, feeding, or pasturing the horses or stock.

(c) Foundry proprietors.

Foundry proprietors and persons conducting a foundry business have a lien, dependent on possession, upon all patterns in their hands belonging to a customer, for the balance due them from the customers for foundry work.

(d) Laundry and dry cleaning proprietors.

Laundry proprietors and dry cleaning establishment proprietors, and persons conducting a laundry business or dry cleaning establishment, have a general lien, dependent on possession, upon all personal property in their hands belonging to a customer, for the balance due them from the customers for laundry or dry cleaning work. This subsection does not confer a lien in favor of a wholesale dry cleaner on materials received from a dry cleaning establishment proprietor or a person conducting a dry cleaning establishment.

(e) Veterinary proprietors and surgeons.

Veterinary proprietors and veterinary surgeons have a lien, dependent on possession, for their compensation in caring for, boarding, feeding, and the medical treatment of animals.

(f) Garage keepers.

Keepers of garages for automobiles have a lien, dependent on possession, for their compensation in caring for and safekeeping the automobiles, and for making repairs and performing any labor upon, or furnishing supplies or materials for, the automobiles. Where the possession of, or lien upon, an automobile held under a claim of lien hereunder is lost by reason of fraud, trick, or device, the repossession of the automobile by the garage keeper shall revive the lien so lost. A lien thus revived is subordinate to any sale, lien, encumbrance, right, title, or interest in the automobile acquired or exercised in good faith and for value by a person between the time of loss of possession and the time of repossession.

§ 4262. Limitation on amount of lien unless notice given

That portion of any lien, as provided for in section 4261 of this title, in excess of $200, for any work, services, care, or safekeeping rendered or performed at the request of any person other than the holder of the legal title, is invalid, unless prior to commencing any such work, service, care, or safekeeping, the person claiming the lien gives actual notice in writing either by personal service or by registered letter addressed to the holder of the legal title to the property, if known. In the case of automobiles, the person named as legal owner in the registration certificate, shall be deemed, for the purpose of this section, the holder of the legal title.

§ 4263. Sale of property by lien holder; notice; proceeds

If the person entitled to the lien provided for in section 4261 of this title is not paid the amount due and for which the lien is given,

within 20 days after the amount has become due, the lien holder may proceed to sell the property, or so much thereof as may be necessary to satisfy the lien and costs of sale, at public auction, and by giving at least 10 days' previous notice of the sale by advertising in a newspaper of general circulation in the Canal Zone. The proceeds of the sale must be applied to the discharge of the lien and the cost of keeping and selling the property. The remainder, if any, must be paid over to the person who owned the property at the time of sale. 8 4264. Factor's lien

A factor has a general lien, dependent on possession, for all that is due to him as such, upon all articles of commercial value that are intrusted to him by the same principal.

8 4265. Banker's lien

A banker has a general lien, dependent on possession, upon all property in his hands belonging to a customer, for the balance due to him from the customer in the course of the business.

8 4266. Officer's lien

An officer who levies an attachment or execution upon personal property acquires a special lien, dependent on possession, upon the property, which authorizes him to hold it until the process is discharged or satisfied, or a judicial sale of the property is had.

CHAPTER 105-NEGOTIABLE INSTRUMENTS

Sec.

SUBCHAPTER I-NEGOTIABLE INSTRUMENTS IN GENERAL

Article A-Form and Interpretation

4301. Form of negotiable instrument.

4302. Certainty of sum payable; definition.

4303. Unconditional order or promise to pay.

4304. Determinable future time defined.

4305. Nonnegotiable instrument; provisions not affecting negotiability.

4306. Omissions; seal; particular money; statement of nature of consideration. 4307. Payable on demand.

[blocks in formation]

4315. Incomplete instrument not delivered.

4316. Delivery; necessity; when effectual; presumptions.

4317. Construction in case of ambiguity or omissions.

4318. Liability of signatories; signature in trade or assumed name.

4319. Signature by agent; authority; proof.

4320. Liability of person signing as agent, etc.

4321. Signature by procuration.

4322. Indorsement or assignment by corporation or infant.

4323. Forged signature.

[blocks in formation]

Sec.

4346. Indorsement in blank; change to special indorsement.

4347. Restrictive indorsement.

4348. Restrictive indorsement; effect; rights of indorsee.

4349. Qualified indorsement.

4350. Conditional indorsement.

4351. Indorsement of instrument payable to bearer.

4352. Indorsement of instrument payable to two or more persons. 4353. Instrument drawn or indorsed to "cashier".

4354. Indorsement where name wrongly designated or misspelled. 4355. Indorsement in representative capacity.

4356. Time of indorsement; presumption.

4357. Place of indorsement; presumption. 4358. Continuation of negotiable character. 4359. Striking out indorsement.

4360. Transfer without indorsement.

4361. Renegotiation by prior party.

Article D-Rights of Holder

4371. Right of holder to sue; payment.
4372. Holder in due course defined.
4373. Holder not in due course.
4374. Notice before full amount paid.
4375. Defective title.

4376. Notice of infirmity or defect.

4377. Rights of holder in due course. 4378. Original defenses; availability.

4379. Holder in due course; presumption; burden of proof.

Article E-Liabilities of Parties

4381. Liability of maker. 4382. Liability of drawer.

4383. Liability of acceptor.

4384. When person deemed indorser.

4385. Liability of irregular indorser.

4386. Warranty on negotiation by delivery or by qualified indorsement.

4387. Liability of general indorser.

4388. Liability of indorser when paper negotiable by delivery.

4389. Order of indorsers' liability.

4390. Liability of agent or broker.

Article F-Presentment for Payment

4401. Failure to present for payment; effect.

4402. Instruments payable on demand and not payable on demand.

4403. Sufficiency of presentment.

4404. Place of presentment.

4405. Exhibition of instrument.

4406. Instrument payable at bank.

4407. Principal debtor dead.

4408. Persons liable as partners.

4409. Joint debtors.

4410. When not required to charge drawer.

4411. When not required to charge indorser.

4412. Excuse for delay.

4413. When dispensed with.

4414. Instrument dishonored by nonpayment. 4415. Liability of person secondarily liable.

4416. Time of maturity.

4417. Computation of time.

4418. Instrument payable at bank.

4419. Payment in due course defined.

Article G-Notice of Dishonor

4421. Parties to whom notice of dishonor given.

4422. Parties who may give.

4423. Notice by agent.

4424. Effect of notice on behalf of holder.

4425. Effect of notice on behalf of party entitled to give notice.

4426. Notice by agent; authority; procedure.

4427. Sufficiency of notice.

4428. Form of notice.

4429. Notice to party or agent.

Sec.

4430. Notice to deceased party.

4431. Notice to partners.

4432. Notice to persons jointly liable.

4433. Notice to bankrupt.

4434. Time within which notice must be given.

4435. Time where parties reside in same place.

4436. Time where parties reside in different places. 4437. Due notice; miscarriage in mails.

4438. Deposit in post office defined.

4439. Notice to antecedent party; time. 4440. Place where notice must be sent.

4441. Waiver of notice.

4442. Waiver of notice; persons affected by waiver. 4443. Waiver of protest.

4444. Dispensing with notice.

4445. Delay; excuse.

4446. Notice to drawer; when dispensed with.

4447. Notice to indorser; when dispensed with,

4448. Notice of nonpayment where acceptance refused. 4449. Omission to give notice of nonacceptance; effect. 4450. Protest; when necessary; when unnecessary.

Article H-Discharge of Negotiable Instruments

4461. Methods of discharge.

4462. Persons secondarily liable; discharge.

4463. Rights of parties secondarily liable who pay instruments. 4464. Renunciation by holder.

4465. Unintentional cancellation; burden of proof.

4466. Material alteration; effect.

4467. Material alteration defined.

[blocks in formation]

4491. Qualified acceptance; rights of parties.

Article C-Presentment for Acceptance

4501. Necessity of making presentment for acceptance.

4502. Failure to present as releasing drawer and indorsers.

4503. Time for making; persons to whom made.

4504. Days on which presentment may be made.

4505. Insufficient time.

4506. Excuse.

4507. Dishonor by nonacceptance.

4508. Duty of holder on nonacceptance.

4509. Rights of holder on nonacceptance.

« PrécédentContinuer »