WAREHOUSE RECEIPTS. 59

"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
this Act when it is in fact done honestly, whether it be done
negligently or not.

SEC. 59. The provisions of this Act do not apply to receipts
made and delivered prior to the taking effect of this Act.

SEC. 60. All Acts or parts of Acts inconsistent with this
Act are hereby repealed; but nothing in this Act contained
shall be held, taken or construed to affect, impair or repeal any-
thing contained in Chapter 19 of the Acts of the General Assem-
bly of Maryland of 1906, entitled "An Act to add a new section
to Article 14 of the Public General Laws, 1904, title "Bills of
Lading, Storage and Elevator Receipts," relating to warehouse
receipts, to come in after Section 11 of said Article, and to be
called Section 12.

SEC. 61. This Act may be cited as the Uniform Warehouse
Receipts Act.

SEC. 2. And be it further enacted, That this Act shall take
effect on the first day of June, A. D. 1910.

Approved April 13, 1910.