Factors (Mercantile Agents) Act 1923 (NSW)

Factors (Mercantile Agents) Act 1923 No 2

An Act to amend and consolidate the law relating to factors; to repeal the Factors Act 1899 and certain other Acts; and for purposes consequent thereon or incidental thereto.

1 Name of Act and commencement (1) This Act may be cited as the Factors (Mercantile Agents) Act 1923. (2) This Act shall come into operation on the thirty-first day of December, one thousand nine hundred and twenty-three.

2 Repeal (1) The enactments mentioned in the Schedule to this Act are, to the extent therein expressed, hereby repealed. (2) This repeal shall not affect anything done or suffered or any right title or interest acquired or accrued or liability incurred before the commencement of this Act, or any legal proceeding or remedy in respect of any such thing right title interest or liability.

3 Definitions In this Act, unless the context or subject-matter otherwise requires: Advance includes a payment of money and the delivery of a bill of exchange or other negotiable security. Document of title includes any bill of lading, dock warrant, warehouse-keeper's certificate, and warrant or order for the delivery of goods, and any other document used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented. Goods includes wares and merchandise. Mercantile agent means a mercantile agent having in the customary course of business as such agent authority either to sell goods, or to consign goods for the purpose of sale, or to buy goods, or to raise money on the security of goods. Pledge includes any contract pledging or giving a lien or security on goods, whether in consideration of an original advance or of any further or continuing advance or of any pecuniary liability.