[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> FACTORS ACT 1889

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FACTORS ACT 1889 - SECT 5

Rights acquired by exchange of goods or documents.

5. The consideration necessary for the validity of a sale, pledge, or other
disposition, of goods, in pursuance of this Act, 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.

© 1889 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/fa188996/s5.html