WAREHOUSE RECEIPTS. 49

in good faith such receipt, for failure to deliver the goods to
him, whether such purchaser acquired title to the receipt before
or after the delivery of the goods by the warehouseman.

SEC. 12. Except as provided in Section 36, where a ware-
houseman delivers part of the goods for which he had issued a
negotiable receipt and fails either to take up and cancel such
receipt, or to place plainly upon it a statement of what goods
or packages have been delivered, he shall be liable to any one
who purchases for value in good faith such receipt, for failure
to deliver all the goods specified in the receipt, whether such
purchaser acquired title to the receipt before or after the de-
livery of any portion of the goods by the warehouseman.

SEC. 13. The alteration of a receipt shall not excuse the
warehouseman who issued it from any liability if such altera-
tion was

(a) Immaterial,

(b) Authorized, or

(c) Made without fraudulent intent.

If the alteration was authorized, the warehouseman shall be
liable according to the terms of the receipt as altered. If the
alteration was unauthorized, but made without fraudulent in-
tent, the warehouseman shall be liable according to the terms
of the receipt, as they were before alteration.

Material and fraudulent alteration of a receipt shall not ex-
cuse the warehouseman who issued it from liability to deliver,
according to the terms of the receipt as originally issued, the
goods for which it was issued, but shall excuse him from any
other liability to the person who made the alteration, and to
any person who took with notice of the alteration. Any pur-
chaser of the receipt for value without notice of the altera-
tion shall acquire the same rights against the warehouseman
which such purchaser would have acquired if the receipt had
not been altered at the time of the purchase.

SEC. 14. Where a negotiable receipt has been lost or de-
stroyed, a court of competent jurisdiction may order the de-
livery of the goods upon satisfactory proof of such loss or de-
struction, and upon the giving of a bond with sufficient sure-
ties, to be approved by the court, to protect the warehouse-
man from any liability or expense which he or any person in-
jured by such delivery may incur by reason of the original
receipt remaining outstanding. The court may also, in its
discretion, order the payment of the warehouseman's reasonable
costs and counsel fees.

The delivery of the goods under an order of the court, as
provided in this section, shall not relieve the warehouseman