ART. 14A] MEANING OF TEEMS. 331

a negotiable receipt, which he afterward negotiates for value, with
intent to deceive and without disclosing his want of title or the exist-
ence of the lien or mortgage, shall be guilty of a crime, and, upon con-
viction, shall be punished for each offense by imprisonment not exceed-
ing one year, or by a fine not exceeding one thousand dollars, or by
both.

1910, ch. 406. sec. 56 (p. 58).

56. In any case not provided for in sections 1 to 60, the rules of
law and equity, including the Law Merchant, and in particular the
rules relating to the law of principal and agent, and to the effect of
fraud, misrepresentation, duress or coercion, mistake, bankruptcy or
other invalidating cause, shall govern.

1910, ch. 406, sec. 57 (p. 58).

57. Sections 1 to 60 shall be so interpreted and construed as to
effectuate its general purpose to make uniform the law of those States
which enact it.

1910, ch. 406, sec. 58 (p. 58).

58. In sections 1 to 60, unless the context or subject matter other-
wise requires:

"Action" includes counter claim, set-off, and suit in equity.

"Delivery" means voluntary transfer of possession from one person
to another.

"Fungible goods" means goods of which any unit is, from its nature
or by mercantile custom, treated as the equivalent of any other unit.

"Goods" means chattels or merchandise in storage, or which has
been or is about to be stored.

"Holder" of a receipt means a person who has both actual possession
of such receipt and a right of property therein.

"Order" means an order by indorsement on the receipt.

"Owner" does not include mortgagee or pledgee.

"Person" includes a corporation or partnership of two or more
persons having a joint or common interest.

To "purchase" includes to take as mortgagee or as a pledgee.

"Purchaser" includes mortgagee and pledgee.

"Receipt" means a warehouse receipt.

"Value" is any consideration sufficient to support a simple contract.
An antecedent or pre-existing obligation, whether for money or not,
constitutes value where a receipt is taken either in satisfaction thereof
or as security therefor.

"Warehouseman" means a person lawfully engaged in the business
of storing goods for profit.

(2) A thing is done "in good faith" within the meaning of sections
1 to 60 when it is in fact done honestly, whether it be done negligently
or not.