71-2-109. When real owner cannot defeat pledge.
71-2-109. When real owner cannot defeat pledge. A person who has allowed another to assume the apparent ownership of property for the purpose of making any transfer of it may not set up the person's own title to defeat a pledge of the property made by the other to a pledgee who received the property in good faith in the ordinary course of business and for value.
History: En. Sec. 3895, Civ. C. 1895; re-en. Sec. 5779, Rev. C. 1907; re-en. Sec. 8297, R.C.M. 1921; Cal. Civ. C. Sec. 2991; Field Civ. C. Sec. 1652; re-en. Sec. 8297, R.C.M. 1935; R.C.M. 1947, 65-106; amd. Sec. 2258, Ch. 56, L. 2009.