ADDENDA ET CORRIGENDA.

1876.

Page 9. Pledges by Bailees: add, "and see Batut v. Hartley, L. R. 7 Q. B. 594, 41 L. J. Q. B. 273."

Page 58, line 2, add-A person who carries on the business of a Warehouseman, and in that character receives goods solely for the purpose of warehousing them, is not an "agent intrusted" within the meaning of the Factors' Act, 5 & 6 Vict. cap. 39, although he also carries on the business of a broker; and therefore a pledge of the goods by such person, without the authority in fact of his principal, either to sell or pledge them, is not protected by section 1 of that Act. Cole and another v. The North Western Bank, L. R., 9 C. P. 470, 43 L. J. C. P. 194; S. C. on appeal, L. R. 10 C. P. 354, 44 L. J. C. P. 233.

Page 67, line 2, add-Where a Wool-broker gave to his bankers, to secure an advance, a letter of hypothecation on certain wools, promising to lodge warehouse warrants for them next day. The bankers made repeated application for the warrants but did not obtain them. Afterwards, the broker having ab

sconded, the bankers, by pressure and under a threat, obtained of the broker's clerk the keys of the warehouse, and took possession of the wool; it was held that the bankers acquired a valid charge on the wool, under the provisions of the Factors' Act. Exparte North Western Bank, Re Slee, 42 L. J. B. C. 6. But see Cole and another v. The North Western Bank, 44 L. J. C. P. 233, supra.

Page 85, after the words in third paragraph—“ under a contract so made," add-" But see section 51, infra, pp. 141-2."

Page 89, after note (q), add-Partners cannot effectually pledge partnership property so as to make it available for their own private debts. To do so when the partnership is insolvent is to commit an act of bankruptcy. Exparte Snowball, in re Douglas, 41 L. J. B. C. 49.

Page 116. To note (y) add-" and see Burslem v. Attenborough, L. R. 8 C. P. 122, 42 L. J. C. P. 102.”

Page 303, Index, Goods and Materials, add-" and see 127 and 180."

Page 308, Index, Partnerships, for 18 read 88.

THE

LAW OF LOANS & PLEDGES.

INTRODUCTORY.

THE rights and liabilities of parties to contracts relating to the borrowing and lending of money on the security of a deposit of goods and chattels, form a small but important and interesting branch of the English Common law; and have, on various occasions, from the time of the Lord Chief Justice Holt, to that of the judges of the present day, given rise to very learned and elaborate arguments in the law courts; followed by distinguished judgments, replete with judicial reasoning and perspicuity (a).

Pledges for debt are of the highest antiquity; they were used in very early times by the roving Arabs, one of whom eloquently remarks: "That the life of man is no more than a pledge in the hands of destiny." And the salutary laws of Moses, which forbade certain imple

(a) See the cases, Coggs v. Bernard, 2 Lord Raym. 913; Donald v. Suckling, 7 B. & S. 783; Meyerstein v. Barber and others, 36 L. J. C. P. 48 and 289; and Fuentes v. Montis, L. R. 3 C. P. 268, L. R. 4 C. P. 93.

B