Liability of persons for conversion
38 Liability of persons for conversion
Where a person delivers grain to the Company and the delivery is made in derogation of the right, title or interest of another person —
the person in whose name the grain is delivered; and
the person to whom a warrant is issued in respect of the grain; and
the holder of a warrant issued in respect of the grain,
is liable to the person whose right, title or interest is so affected.
Subject to the provisions of subsection (1), every warrant is a negotiable instrument transferable by endorsement; but every person to whom a warrant is negotiated or transferred accepts and holds it subject to any lien over, and the right, title or interest of any person to or in, the grain in respect of which the warrant was issued.
An endorsement of a warrant may be general or special.
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