ART. 3.] AGENTS AND FACTORS. 15

4. Any person or body corporate may contract with any agent
or factor intrusted with any goods, wares or merchandise, or to
whom the same may be consigned, for the purchase thereof, and
may receive from and pay for the same to such agent, and such
contract and payment shall be good against the owner, notwith-
standing such person shall have notice that the person making
such contract, or on whose behalf such contract is made, is an
agent or factor; Provided, such contract and payment be made
in the usual course of business, and that such person or body
corporate shall not when such contract is entered into or pay-
ment made, have notice that such agent or factor is not author-
ized to sell the goods, wares or merchandise, or receive the pur-
chase money for the same.

5. If any person or body corporate shall take any goods, wares
or merchandise, or any document mentioned in the third section,
in deposit or pledge from any person so intrusted with the same,
or to whom the same may be consigned, or who may be intrusted
with and in possession of any such bill of lading, store keeper or
inspector's certificate, order for the delivery of goods, or other
such document showing possession, without notice as aforesaid,
as a security for any debt or demand existing before the time of
such deposit or pledge, then such person shall acquire such
right, title or interest as was possessed and might have been
enforced by the person from whom he received the same, and no
more.

6. Any person or body corporate may take any goods, wares
or merchandise, or any such document as aforesaid, in deposit or
pledge as a security for a pre-existing debt or demand from such
agent or factor, knowing him to be such, but with such notice
they shall only acquire the right or interest therein which was
possessed by such agent or factor at the time of the deposit or
pledge, but if he shall have notice that such agent or factor had
no authority from his principal to pledge or deposit the same or
to part with the possession thereof, in such case such person or
body corporate shall acquire no right or interest therein.

7. In all cases where an agent or factor shall have made a con-
tract for the sale of goods, wares or merchandise, or shall have
delivered the same in pursuance of any such contract to any per-
son or body corporate, and shall, before the payment of the pur-
chase money for the same, have become insolvent, the principal

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