What are the remedies available for a warehouseman?
1. Even if no lien, all remedies allowed by law to a creditor against
his debtor for collection of charges;
2. By refusing to deliver the goods until his lien is satisfied;
3. All remedies allowed by law for the enforcement of a lien
against personal property and recovery of any deficiency in case it exists
after the sale of the property;
4. By causing the extrajudicial sale of the property and applying
the proceeds to the value of the lien
PROCESS in EXTRAJUDICIAL SALE
A. Written notice to the person on whose account the
goods are held or to persons who claim an interest in the goods
containing:
a. itemized statement of warehouseman’s lien showing the sum due
and when it became due
b. brief description of the goods
c. a demand that a claim be paid on or before a day mentioned, not
less than 10 days from:
1. delivery of notice if personally delivered
2. the time when notice should reach its destination if sent by
mail
d. statement that if the claim is not paid, the goods will be
advertised for sale and then sold at a specified time and place
B. After the time for payment of the claim if
the notice has elapsed, the sale will be advertised stating:
a. a description of the goods to be sold
b. the name of the owner or person on whose account the
goods were held
c. time and place of the sale
C. Publication:
a. if there is a newspaper published in the place of sale:
once a week for 2 consecutive weeks and the sale not held less than 15 days
from the time of the 1st publication
b. if there is no newspaper: posted at least 10 days before
the sale in not less than 6 conspicuous places in the place of sale
D. Sale itself in:
a. place where the lien was acquired
b. if such place is manifestly unsuitable for the purpose, at the nearest
suitable place
E. From the proceeds of the sale:
a. the warehouseman shall satisfy his lien
b. including the reasonable charges of notice, advertisement and sale
c. the balance shall be held by the warehouseman and delivered on demand to the
person to whom he should deliver it
F. Any time before the goods are sold, any person may pay
the warehouseman for his lien and the other expenses. The warehouseman
shall deliver the goods to that person if he is entitled under this Act, to the
possession of the goods on payment of the charges. Otherwise, the
warehouseman shall retain ownership of the goods.
5. With regard to perishable and
hazardous goods
Warehouseman will give notice to owner or person in whose name the
goods are stored:
a. to satisfy his lien
b. to remove the goods
c. failure to do a &b will give the warehouseman authority to
sell the goods without advertising
d. if sale is not possible, he may dispose of the goods in any lawful
manner without liability
* Proceeds of the sale shall be disposed of in accordance
with the PROCESS in the sale of the goods.
6. Effects of sale
a.
warehouseman is NOT
liable for non-delivery even if the receipt was given for the goods when they
were deposited be negotiated
b.
when the sale was made
without the publication required and before the time specified by law, such
sale is void and the purchaser of the goods acquires no title in them
Negotiation
and Transfer of Receipts
Negotiable receipts
negotiable by delivery
1. if the goods are deliverable to the bearer; or
2. when indorsed in blank; or
3. person to whose order the goods are delivered or by a subsequent
indorsee indorsed it to bearer
GENERAL BONDED WAREHOUSE
LAW
· Any warehouseman receiving commodities for (a) storage; (b)
milling; (c) co-mingling must:
a. obtain prior license
from the Bureau of Commerce
b. file a bond in an amount
equivalent to 33 1/3 % of the capacity of the warehouse against which bond
depositors may sue directly
c. open to the public, no
discrimination allowed
d. liable for double market
value should he accept goods in excess of the capacity of warehouse if goods
are damaged or destroyed
· Note: for palay and corn license, a bond with the National
Grains Authority is required; also an insurance cover is required.
No comments:
Post a Comment