34-287. When negotiations not impaired by fraud, mistake or duress.

34-287

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

      34-287.   When negotiations not impaired by fraud, mistake or duress. The validity of the negotiation of a receipt is not impaired by the factthat such negotiation was a breach of duty on the part of the person makingthe negotiation, or by the fact that the owner of the receipt was inducedby fraud, mistake or duress to entrust the possession or custody of thereceipt to such person, if the person to whom the receipt was subsequentlynegotiated paid value therefor without notice of the breach of duty orfraud, mistake or duress.

      History:   L. 1931, ch. 194, § 65; July 1.