WAREHOUSE RECEIPTS 525

"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, con-
stitutes 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.

Cited but not construed in McLane v. State, 156 Md. 145.

An. Code, 1924, sec. 59. 1912, sec. 59. 1910, ch. 406, sec. 59 (p. 59).

59. The provisions of sections 1 to 60 do not apply to receipts made
and delivered prior to June 1, 1910.

An. Code, 1924, sec. 60. 1912, sec. 60. 1910, ch. 406, sec. 61 (p. 59).

60. Sections 1 to 60 may be cited as the Uniform Warehouse Receipts
Act.

Distillery Warehouses.

An. Code, 1924, sec. 61. 1912, sec. 61. 1906, ch. 19.

61. Bonded warehouses of the United States, known as distillery ware-
houses, as defined by and existing under the laws of the United States of
America and situated in this State, shall be deemed to be warehouses within
the contemplation and meaning of this section, and such distillery ware-
houses shall be subject to all the provisions of this article not inconsistent
with the laws of the United States regulating the conduct and operation of
such distillery warehouses, and all warehouse receipts issued after Febru-
ary 27, 1906, by such a distillery warehouse shall be governed by and sub-
ject to all the provisions of this article as fully to all intents and purposes
as the warehouse receipts of any other warehouseman, corporation or
person conducting a general warehousing business in this State.

This section is constitutional and valid. A distillery warehouse receipt represents
the property and its transfer in the usual course of business by way of sale or pledge,
operates as a delivery of the property therein described. Pledgees held to take a good
title as against creditors. Merchants Bank v. Roxbury Distilling Co., 196 U. S. 100.
See also the opinion of the special master in this case, particularly on page 82.

See sec. 58.

While the acts of 1910, chs. 336 (p. 33) and 406 (p. 46), do not specifically refer to
the act of 1908, ch. 548, the latter was no doubt repealed by the acts of 1910, particu-
larly in view of sec. 60 of ch. 406.