Sec. 40-56. Negotiation of receipt for mortgaged goods.
75 words·~1 min read·
/ct/title-40/chapter-708-uniform-warehouse-receipts-act/40-56·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any person who deposits goods to which he has not title, or upon which there is a lien or mortgage, and who takes for such goods a negotiable receipt which he afterwards negotiates for value with intent to deceive and without disclosing his want of title or the existence of the lien or mortgage, shall, for each offense, be fined not more than one thousand dollars or imprisoned not more than one year or both.