With respect to vendors permitted to retain documents of title to goods
3 With respect to vendors permitted to retain documents of title to goods
WHERE any goods have been sold, and the vendor or any person on his behalf continues or is in the possession of the documents of title thereto, any sale, pledge, or other disposition of the goods or documents made by such vendor, or any person agent entrusted by the vendor with the goods or documents within the meaning of the principal Acts as amended by this Act so continuing or being in possession, shall be as valid and effectual as if such vendor or person were an agent or person entrusted by the vendee with the goods or documents within the meaning of the principal Acts as amended by this Act, provided the person to whom the sale, pledge, or other disposition is made has not notice that the goods have been previously sold.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.