ART. 14] NEGOTIATION——WARRANTIES. 311

garnishment or by attachment or execution upon the goods by a creditor
of the transferor, or by a notification to the carrier by the transferor or
a subsequent purchaser from the transferor of a subsequent sale of the
goods by the transferor.

A carrier has not received notification within the meaning of this
section unless an officer or agent of the carrier, the actual or apparent
scope of whose duties includes action upon such notification, has been
notified; and no notification shall be effective until the officer or agent
to whom it is given has had time, with the exercise of reasonable dili-
gence, to communicate with the agent or agents having actual posses-
sion or control of the goods.
See art. 83, sec. 55.

1910, ch. 336, see. 34 (p. 41).

34. Where a negotiable bill is transferred for value by delivery, and
the endorsement of the transfer is essential for negotiation, the trans-
feree acquires a right against the transferor to compel him to endorse
the bill, unless a contrary intention appears. The negotiation shall take
effect as of the time when the endorsement is actually made. This obli-
gation may be specifically enforced.

See art. 83, sec. 56.

1910, ch. 336, sec. 35 (p. 41).

35. A person who negotiates or transfers for -value a bill by endorse-
ment or delivery, including one who assigns for value a claim secured
by a bill, unless a contrary intention appears, warrants—

(a) That the bill is genuine;

(b) That he has a legal right to transfer it;

(c) That he has knowledge of no fact which would impair the valid-
ity or worth of the bill, and

(d) That he has a right to transfer the title to the goods, and that
the goods are merchantable or fit for a particular purpose whenever
such warranties would have been implied, if the contract of the parties
had been to transfer without a bill the goods represented thereby.

In the case of an assignment of a claim secured by a bill, the liability
of the assignor shall not exceed the amount of the claim.

As to the warranties of a transferor of corporate stock, see art. 23, sec. 48.
See art. 83. sec. 57.

1910, ch. 336, sec. 36 (p. 41).

36. The endorsement of a bill shall not make the endorser liable
for any failure on the part of the carrier or previous endorsers of the
bill to fulfill their respective obligations.
See art. 83, sec. 58.

1910. ch. 336, sec. 37 (p. 41).

37. A mortgagee or pledgee, or other holder of a bill for security,
who in good faith demands or receives payment of the debt for which