§ 1583. Retaking possession When the buyer is in default in the payment of a sum due under the contract, or in the performance of any other condition which the contract requires him to perform in order to obtain the property in the goods, or in the performance of any promise, the breach of which is by the contract expressly made a ground for the retaking of the goods, the seller may retake possession thereof. Unless the goods can be retaken without breach of the peace, they shall be retaken by legal process; but this section does not authorize a violation of the criminal law. § 1584. Notice of intention to retake Not more than 40 nor less than 20 days prior to the retaking, the seller, if he so desires, may serve upon the buyer personally or by registered mail a notice of intention to retake the goods on account of the buyer's default. The notice shall state the default and the period at the end of which the goods will be retaken, and shall briefly and clearly state what the buyer's rights under this chapter will be in case they are retaken. If the notice is so served and the buyer does not perform the obligations in which he has made default before the day set for retaking, the seller may retake the goods and hold them subject to sections 1586-1590 of this title regarding resale, but without a right of redemption. § 1585. Redemption If the seller does not give the notice of intention to retake provided for by section 1584 of this title, he shall retain the goods for 10 days after the retaking within the Canal Zone, during which period the buyer, upon payment or tender of the amount due under the contract at the time of retaking and interest, or upon performance or tender of performance of such other condition as may be named in the contract as precedent to the passage of the property in the goods, or upon performance or tender of performance of any other promise for the breach of which the goods were retaken, and upon payment of the expenses of retaking, keeping, and storage, may redeem the goods and become entitled to take possession of them and to continue in the performance of the contract as if a default had not occurred. Upon written demand delivered personally or by registered mail by the buyer, the seller shall furnish to the buyer a written statement of the sum due under the contract and the expense of retaking, keeping, and storage. For failure to furnish such a statement within a reasonable time after demand, the seller shall forfeit to the buyer $10 and also be liable to him for all damages suffered because of the failure. If the goods are perishable so that retention for 10 days as herein prescribed would result in their destruction or substantial injury, this section does not apply, and the seller may resell the goods immediately upon their retaking. § 1586. Compulsory resale by seller If the buyer does not redeem the goods within 10 days after the seller has retaken possession, and the buyer has paid at least 50 per centum of the purchase price at the time of the retaking the seller shall sell them at public auction in the Canal Zone, the sale to be held not more than 30 days after the retaking. The seller shall give to the buyer not less than 10 days' written notice of the sale, either personally or by registered mail, directed to the buyer at his last known place of business or residence. The seller shall also give notice of the sale by at least 3 notices posted in different public places within the Canal Zone, at least 5 days before the sale. If at the time of the retaking $500 or more has been paid on the purchase price, the seller shall also give notice of the sale at least 5 days before the sale by publication in a newspaper having a general circulation within the Canal Zone. The seller may bid for the goods at the resale. 81587. Resale at option of parties If the buyer has not paid at least 50 percent of the purchase price at the time of the retaking, the seller is not under a duty to resell the goods as prescribed by section 1586 of this title, unless the buyer serves upon the seller, within 10 days after the retaking, a written notice demanding a resale, delivered personally or by registered mail. If the notice is served, the resale shall take place within 30 days after the service, in the manner, at the place, and upon the notice prescribed by section 1586 of this title. The seller may voluntarily resell the goods for account of the buyer on compliance with the same require ments. § 1588. Proceeds of resale The proceeds of the resale shall be applied: (1) to the payment of the expenses thereof; (2) to the payment of the expenses of retaking, keeping and storing the goods; (3) to the satisfaction of the balance due under the contract. Any sums remaining after the satisfaction of those claims shall be paid to the buyer. § 1589. Deficiency on resale If the proceeds of the resale are not sufficient to defray the expenses thereof and the expenses of retaking, keeping, and storing the goods, and the balance due upon the purchase price, the seller may recover the deficiency from the buyer, or from any one who has succeeded to the obligations of the buyer. § 1590. Rights of parties where there is no resale If there is no resale the seller may retain the goods as his own property without obligation to account to the buyer except as provided by section 1592 of this title, and the buyer shall be discharged of all obligation. § 1591. Election of remedies After the retaking of possession as provided by section 1583 of this title the buyer is liable for the price only after a resale and only to the extent provided by section 1589 of this title. Neither the bringing of an action by the seller for the recovery of the whole or any part of the price, nor the recovery of judgment in such an action, nor the collection of a portion of the price, shall be deemed inconsistent with a later retaking of the goods as provided in section 1583 of this title. But a right of retaking may not be exercised by the seller after he has collected the entire price or after he has claimed a lien upon the goods, or attached them, or levied upon them as the goods of the buyer. § 1592. Recovery of part payments If the seller fails to comply with sections 1585-1588 and 1590 of this title, after retaking the goods, the buyer may recover from the seller his actual damages, if any, and in no event less than one-fourth of the sum of all payments which have been made under the contract, with interest. 1593. Waiver of statutory protection An act or agreement of the buyer before or at the time of the making of the contract, or an agreement or statement by the buyer in the contract, does not constitute a valid waiver of sections 1585-1588 and 1592 of this title; except that the contract may stipulate that on such default of the buyer as is provided for by section 1583 of this title, the seller may rescind the conditional sale, either as to all the goods or as to any part thereof for which a specific price was fixed in the contract. If the contract thus provides for rescission, the seller at his option may retake the goods without complying with or being bound by sections 1584-1592 of this title, as to the goods retaken, upon crediting the buyer with the full purchase price of those goods. As much of this credit as is necessary to cancel any indebtedness of the buyer to the seller shall be so applied and the seller shall repay to the buyer on demand any surplus not so required. § 1594. Loss and increase After the delivery of the goods to the buyer and prior to the retaking of them by the seller, the risk of injury and loss rest upon the buyer. The increase of the goods is subject to the same conditions as the original goods. § 1595. Rules for cases not provided for In any case not provided for by this chapter the rules of law and equity, including the law merchant, and in particular those relating to principal and agent and to the effect of fraud, misrepresentation, duress or coercion, mistake, or other invalidating cause, shall continue to apply to conditional sales. § 1596. Uniformity of interpretation This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those States which enact it. § 1597. Short title Sec. This chapter may be cited as the Uniform Conditional Sales Act. CHAPTER 49-DEPOSIT IN GENERAL SUBCHAPTER I-NATURE AND CREATION OF DEPOSIT 1631. Kinds of deposit. 1632. Voluntary deposit. 1633. Involuntary deposit. 1634. Duty of involuntary depositary. 1635. Deposit for keeping. 1636. Deposit for exchange. SUBCHAPTER II-OBLIGATIONS OF THE DEPOSITARY 1651. Delivery on demand. 1652. Necessity of demand. 1653. Place of delivery. 1654. Notice of adverse claim. 1655. Notice of deposit to true owner. 1656. Delivery of thing owned jointly, etc. 1657. Delivery of joint deposits. Subchapter I-Nature and Creation of Deposit § 1631. Kinds of deposit A deposit may be voluntary or involuntary; and for safe-keeping or for exchange. § 1632. Voluntary deposit A voluntary deposit is made by one giving to another, with his consent, the possession of personal property to keep for the benefit of the former, or of a third party. The person giving is the depositor, and the person receiving the depositary. § 1633. Involuntary deposit An involuntary deposit is made: (1) by the accidental leaving or placing of personal property in the possession of a person, without negligence on the part of its owner; or (2) in cases of fire, shipwreck, inundation, insurrection, riot, or like extraordinary emergencies, by the owner of personal property committing it, out of necessity, to the care of a person. § 1634. Duty of involuntary depositary The person with whom a thing is deposited as provided by section. 1633 of this title is bound to take charge of it, if able to do so. § 1635. Deposit for keeping A deposit for keeping is one in which the depositary is bound to return the identical thing deposited. § 1636. Deposit for exchange A deposit for exchange is one in which the depositary is bound only to return a thing corresponding in kind to that which is deposited. Subchapter II-Obligations of the Depositary 1651. Delivery on demand A depositary shall deliver the thing to the person for whose benefit it was deposited, on demand, whether the deposit was made for a specified time or not, unless he has a lien upon the thing deposited, or has been forbidden or prevented from doing so by the real owner thereof, or by the act of the law, and has given the notice required by section 1654 of this title. § 1652. Necessity of demand A depositary is not bound to deliver a thing deposited without demand, even where the deposit is made for a specified time. § 1653. Place of delivery A depositary shall deliver the thing deposited at his residence or place of business, as may be most convenient for him. § 1654. Notice of adverse claim A depositary shall give prompt notice to the person for whose benefit the deposit was made, of any proceedings taken adversely to his interest in the thing deposited, which may tend to excuse the depositary from delivering the thing to him. § 1655. Notice of deposit to true owner A depositary who believes that a thing deposited with him is wrongfully detained from its true owner, may give him notice of the deposit; and if within a reasonable time afterwards he does not claim it, and sufficiently establish his right thereto, and indemnify the depositary against the claim of the depositor, the depositary is exonerated from liability to the person to whom he gave the notice, upon returning the thing to the depositor, or assuming, in good faith, a new obligation changing his position in respect to the thing, to his prejudice. 1 § 1656. Delivery of thing owned jointly, etc. If a thing deposited is owned jointly or in common by persons who cannot agree upon the manner of its delivery, the depositary may deliver to each his proper share thereof, if it can be done without injury to the thing. § 1657. Delivery of joint deposits If a deposit is made in the name of two or more persons deliverable or payable to either or to their survivor or survivors, the deposit or any part thereof, or increase thereof, may be delivered or paid to either of the persons or to the survivor or survivors in due course of business. Article A-The Issue of Warehouse Receipts 1771. Persons who may issue receipts. 1772. Form of receipts; essential terms. 1773. Form of receipts; what terms may be inserted. 1774. Definition of nonnegotiable receipt. 1775. Definition of negotiable receipt. 1776. Duplicate receipts must be so marked. 1777. Failure to mark "not negotiable". Article B-Obligations and Rights of Warehousemen Upon Their Receipts 1781. Obligation of warehouseman to deliver. 1782. Justification of warehouseman in delivering. 1783. Warehouseman's liability for misdelivery. 1784. Negotiable receipts must be cancelled when goods delivered. 1785. Negotiable receipts must be cancelled or marked when part of goods delivered. 1786. Altered receipts. 1787. Lost or destroyed receipts. 1788. Effect of duplicate receipts. 1789. Warehouseman cannot set up title in himself. 1790. Interpleader of adverse claimants. 1791. Warehouseman has reasonable time to determine validity of claims. 1792. Adverse title is no defense except as above provided. 1793. Liability for nonexistence or misdescription of goods. 1794. Liability for care of goods. |