estate assigned, and shall be wholly debarred of any right to CHAP. 145. share in the proceeds thereof; and if the claim is not so proved within the time so limited, or within such further time as the judge by subsequeut order allows the same shall be wholly barred, and the assignee shall be at liberty to distribute the proceeds of the estate as if no such claim. existed, but without prejudice to the liability of the debtor .therefor. 1898, c. 11, s. 21, (2.) accrued due. 34. A person whose claim has not accrued due shall Claims not nevertheless be entitled to prove under the assignment and vote at meetings of creditors, but in ascertaining the amount of any such claim a deduction for interest shall be made for the time which has to run until the claim becomes due. 1898, c. 11, s. 21, (3.) CONTESTATION OF CLAIMS. claims. 35.-—(1.) At any time after the assignee receives from Contestation of any person claiming to be entitled to rank on the estate proof" of his claim, notice of contestation of the claim may, at the request of any creditor, be served by the assignee upon the claimant. Within thirty days after the receipt of the notice, or such further time as a judge on application allows, an action shall be brought by the claimant against the assignee to establish the claim, and a copy of the writ in the action served on the assignee; and in default of such action being brought and writ served within the time aforesaid, the claim. to rank on the estate shall be forever barred. (2.) The notice by the assignee shall contain the name and place of business of one of the solicitors of the Supreme Court, upon whom service of the writ may be made, and service upon such solicitor shell be deemed sufficient service of the writ. 1898, c. 11, s. 21, (4,) (5.) DIVIDENDS. kept. 36. Upon the expiration of one month from the first Accounts to be meeting of creditors, or as soon as may be after the expiration of such period, but not more than three months thereafter, and afterwards from time to time at intervals of not more than three months, the assignee shall prepare and keep, constantly accessible to the creditors, accounts and statements of his doings as such assignee, and of the position of the 1898, c. 11, s. 22, (part.) estate. of assignee to 37. As large a dividend as can with safety be paid shall Dividends, duty be paid by every assignee under this Chapter, within twelve pay. months from the date of any assignment made thereunder, and earlier if required by vote of the creditors, aud there CHAP. 146. after a further dividend shall be paid every six months, and more frequently if required by the creditors, until the estate is wound up and disposed of. Dividend sheet. official assignees. 38. So soon as a dividend sheet is prepared, notice thereof shall be given by letter mailed, postage prepaid, to each creditor, enclosing an abstract of receipts and disbursements, shewing what interest has been received by the assignee for moneys in his hands, together with a copy of the dividend. sheet, noting thereon the claims objected to, and stating whether any reservation has or has not been made therefor; and after the expiry of eight days from the date of mailing such notice, abstract and dividend sheet as aforesaid, dividends on all claims not objected to within that period shall be paid. 1898, c. 11, s. 23. OFFICIAL ASSIGNEES. Appointment of 39. The Governor-in-Council may in each county appoint one or more persons to be official assignees, who shall perform the duties and exercise the powers imposed by this Chapter. 1898, c. 11, s. 27. Their remuneration. 40-(1.) The assignee shall receive such remuneration as is voted to him by the creditors at any meeting, subject to the review of a judge, if complained of by the assignee or any creditor. (2.) If no remuneration is voted to the assignee by the creditors, the amount thereof shall be fixed by a judge. 1898, c. 11, s. 12; 1899, c. 53, s. 7. Short title. Interpretation. Mercantile agent. CHAPTER 146. OF FACTORS AND AGENTS. SHORT TITLE. 1. This Chapter may be cited as "The Factors' Act." 1895, c. 11, s. 16. INTERPRETATION. 2. In this Chapter unless the context otherwise requires : (a) The expression "mercantile agent" means a inercantile agent having in the customary course of his business as such agent, authority either to sell goods or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of goods; deemed in (b) A person shall be deerned to be in possession of CHAP. 146. (c) The expression "goods" includes wares and mer- "Goods." title." (d) The expression "document of title" includes any Document of (e) The expression "pledge" includes any contract "Pledge." of any further or continuing advance, or of any (f) The expression "person" includes any body of "Person." DISPOSITIONS BY MERCANTILE AGENTS. agent in of owner, made by him authorized, 3.—(1.) Where a mercantile agent is, with the consent Mercantile of the owner, in possession of goods, or of the documents possession of of title to goods, any sale, pledge, or other disposition of goods by consent the goods, made by him when acting in the ordinary course any sale, &c., of business of a mercantile agent, shall, subject to the pro- valid as if visions of this Chapter, be as valid as if he was expressly provided person authorized by the owner of the goods to make the same, faith. provided that the person taking under the disposition acts in good faith, and has not at the time of the disposition notice that the person making the disposition has not authority to make the same. acquires in good owner valid discontinued if of discontin (2.) Where a mercantile agent has, with the consent of Consent of the owner, been in possession of goods, or of the documents which has been of title to goods, any sale, pledge, or other disposition person acquiring which would have been valid if the consent had continued, had not notice shall be valid notwithstanding the determination of the uance. consent; provided that the person taking under the disposition has not at the time thereof notice that the consent has been determined. (3.) Where a mercantile agent has obtained possession of documents of any documents of title to goods by reason of his being or of being in having been, with the consent of the owner, in possession possession of of the goods represented thereby, or of any other documents deemed to have Agent obtaining possession of title by reason the goods CHAP. 146. of title to the goods, his possession of the first mentioned. Rights of pledgee, where agent pledges goods. What consideration in case of sale, pledges, &c. made by an agent is neces sary to validity of transaction. Effect of agreement made through documents shall, for the purposes of this Chapter, be deemed to be with the consent of the owner. (4.) For the purposes of this Chapter the consent of the owner shall be presumed in the absence of evidence to the contrary. 1895, c. 11, s. 2. 4. A pledge of the documents of title to goods shall be deemed to be a pledge of the goods. 1895, c. 11, s. 4. 5. Where a mercantile agent pledges goods as security for a debt or liability due from the pledgor to the pledgee before the time of the pledge, the pledgee shall acquire no further right to the goods than could have been enforced by the pledgor at the time of the pledge. 1895, c. 11, s. 4. 6. The consideration necessary for the validity of a sale, pledge, or other disposition of goods, in pursuance of this Chapter, may be either a payment in cash, or the delivery or transfer of other goods, or of a document of title to goods, or of a negotiable security, or any other valuable consideration; but where goods are pledged by a mercantile agent in consideration of the delivery or transfer of other goods, or of a document of title to goods, or of a negotiable security, the pledgee shall acquire no right or interest in the goods so pledged in excess of the value of the goods, documents, or security when so delivered or transferred in exchange. 1895, c. 11, s. 5. 7. For the purposes of this Chapter an agreement made with a mercantile agent through a clerk or other person clerk of agent. authorized in the ordinary course of business to make contracts of sale or pledge on his behalf, shall be deemed to be an agreement with the agent. 1895, c. 11, s. 6. Owner giving possession of goods for sale or shipping in name of another 8.-(1.) Where the owner of goods has given possession of the goods to another person for the purpose of consignConsignment or ment or sale, or has shipped the goods in the name of another person, and the consignee of the goods has not had consignee notice that such person is not the owner of the goods, the without notice to consignee shall, in respect to advances made to or for the as if such person use of such person, have the same lien on the goods as if such person were the owner of the goods, and may transfer any such lien to another person. have same lien was owner. Proviso. Person having sold but remaining in possession of goods or (2.) Nothing in this section shall limit or affect the validity of any sale, pledge, or disposition, by a mercantile agent. 1895, c. 11, s. 7. DISPOSITIONS BY SELLERS AND BUYERS OF GOODS. 9. Where a person, having sold goods, continues, or is in possession of the goods, or of the documents of title to the goods, the delivery or transfer by that person, or by a title making mercantile agent acting for him, of the goods or documents CHAP. 146. of title under any sale, pledge, or other disposition thereof, documents of or under any agreement for sale, pledge, or other disposi- subsequent tion thereof, to any person receiving the same in good faith delivery, &c., to and without notice of the previous sale, shall have the receiving in good same effect as if the person making the delivery or transfer was expressly authorized by the owner of the goods to by owner. make the same. 1895, c. 11, s. 8. another, faith as effective as if authorized obtaining making delivery, receiving in good as if made with 10. Where a person having bought or agreed to buy Purchaser goods obtains, with the consent of the seller, possession of possession with the goods or the documents of title to the goods, the consent of seller delivery or transfer by that person, or by a mercantile &c., to person agent acting for him, of the goods or documents of title, faith as effective under any sale, pledge, or other disposition thereof, or consent of owner. under any agreement for sale, pledge, or other disposition thereof, to any person receiving the same in good faith and without notice of any lien or other right of the original seller in respect to the goods, shall have the same effect as if the person making the delivery or transfer was a mercantile agent in possession of the goods or documents of title with the consent of the owner. 1895, c. 11, s. 9. title transferred receiving in 11. Where a document of title to goods has been Document of lawfully transferred to a person as a buyer or owner of the to a person as goods, and that person transfers the document to a person by him transbuyer, &c., and who takes the document in good faith, and for valuable ferred to person consideration, the last mentioned transfer shall have the good faith and same effect for defeating any vendor's lien or right of for value, last stoppage in transitu as the transfer of a bill of lading has defeat vendor's for defeating the right of stoppage in transitu. 1895, c. 11, s. 10. MISCELLANEOUS. transfer will lien, &c. indorsement or 12. For the purposes of this Chapter the transfer of a Transfer of document may be by indorsement, or where the document document by is by custom or by its express terms transferable by delivery, delivery, &c. or makes the goods deliverable to the bearer, then by delivery. 1895, c. 11, s. 11. authorized by 13. (1.) Nothing in this Chapter shall authorize an Agent not agent to exceed or depart from his authority as between Chapter to himself and his principal, or exempt him from any liability exceed his for so doing. authority, &c. from recovering agent in certain (2.) Nothing in this Chapter shall prevent the owner of Nothing herein goods from recovering the goods from an agent at any time to prevent owner before the sale or pledge thereof, or shall prevent the owner goods from of goods pledged by an agent from having the right to cases. redeem the goods at any time before the sale thereof, on satisfying the claim for which the goods were pledged and paying to the agent, if by him required, any money in respect to which the agent would, by law, be entitled to |