bid, is a fraud upon the buyer, which entitles him to rescind his purchase. N. Y. C. C., Sec. 901. Auctioneer's memoran SEC. 1798. When property is sold by auction, the auctioneer, or his partner or clerk, may enter in a sale book, dum of sale. at the time of the sale, a memorandum specifying the name of the person for whom he sells, the thing sold, the price, the terms of sale, and the name of the buyer. A nemorandum thus made binds both the parties in the same manner as if made by themselves [and is a memo randum of the contract, within the meaning of Sec. 1739]. N. Y. C. C., Sec. 902-modified in form, but not in effect; NOTE. The section from the New York Civil Code, with TITLE II. EXCHANGE. SECTION 1804. Exchange, what. 1805. Form of contract. 1806. Parties have rights and obligations of sellers and buyers. what. SEC. 1804. Exchange is a contract by which the par. Exchange, ties mutually give, or agree to give, one thing for another, neither thing, or both things, being money only. N. Y. C. C., Sec. 903. contract. SEC. 1805. The provisions of Sec. 1739 apply to all Form of exchanges in which the value of the thing to be given by either party is two hundred dollars or more. N. Y. C. C., Sec. 904. NOTE. "Two hundred" substituted for "fifty," corresponding with Sec. 1793. SEC. 1806. The provisions of the Title on Sale apply to exchanges. Each party has the rights and obligations of a seller as to the thing which he gives, and of a buyer as to that which he takes. N. Y. C. C., Sec. 905. Parties have obligations and buyers. rights and of sellers Warranty of money. SEC. 1807. On an exchange of money, each party thereby warrants the genuineness of the money given by him. N. Y. C. C., Sec. 906. TITLE III. DEPOSIT. CHAPTER I. DEPOSIT IN GENERAL. CHAPTER I. DEPOSIT IN GENERAL. ARTICLE I. NATURE AND CREATION OF DEPOSIT. ARTICLE I. NATURE AND CREATION OF DEPOSIT. Deposit, kinds of. Voluntary deposit, how made. Involuntary deposit, how made. SECTION 1813. Deposit, kinds of. 1814. Voluntary deposit, how made. 1815. Involuntary deposit, how made. 1817. Deposit for keeping, what. 1818. Deposit for exchange, what. SEC. 1813. A deposit may be voluntary or involuntary; and for safe keeping or for exchange. N. Y. C. C., Sec. 907. SEC. 1814. A voluntary deposit is made by one giving to another, with his consent, the possession of personal property to keep for the benefit of the former, or of a third party. The person giving is called the depositor. and the person receiving, the depositary. SEC. 1815. N. Y. C. C., Sec. 908. An involuntary deposit is made1. By the accidental leaving or placing of personal property in the possession of any person, without negligence on the part of its owner; or, 2. In cases of fire, shipwreck, inundation, insurrection, riot or like extraordinary emergencies, by the owner of personal property committing it, out of necessity, to the care of any person. N. Y. C. C., Sec. 909. SEC. 1816. The person with whom a thing is deposited same. in the manner described in the last section is bound to take charge of it, if able to do so. N. Y. C. C., Sec. 910. SEC. 1817. A deposit for keeping is one in which the depositary is bound to return the identical thing deposited. N. Y. C. C., Sec. 911. SEC. 1818. A deposit for exchange is one in which the depositary is only bound to return a thing corresponding in kind to that which is deposited. N. Y. C. C., Sec. 912. ARTICLE II. OBLIGATIONS OF THE DEPOSITARY. SECTION 1822. Depositary must deliver on demand. 1824. Place of delivery. 1825. Notice to owner of adverse claim. 1826. Notice to owner of thing wrongfully detained. must deliver on demand. SEC. 1822. A depositary must deliver the thing to the Depositary person for whose benefit it was deposited, on demand, whether the deposit was made for a specified tire or not, unless he has a lien upon the thing deposited, or has been forbidden or prevented from doing so by the real owner thereof, or by the act of the law, and has given the notice required by Sec. 1825. N. Y. C. C., Sec. 913. SEC. 1823. A depositary is not bound to deliver a thing deposited without demand, even where the deposit is made for a specified time. N. Y. C. C., Sec. 914. Place of delivery. Notice to owner of ad SEC. 1824. A depositary must deliver the thing depos ited at his residence or place of business, as may be most convenient for him. N. Y. C. C., Sec. 915. SEC. 1825. A depositary must give prompt notice to verso claim. the person for whose benefit the deposit was made, of any proceedings taken adversely to his interest in the thing deposited, which may tend to excuse the depositary from delivering the thing to him. Notice to owner of SEC. 1826. fully de tained. N. Y. C. C., Sec. 916. A depositary, who believes that a thing thing wrong deposited with him is wrongfully detained from its true owner. may give him notice of the deposit; and if within a reasonable time afterwards he does not claim it, and sufficiently establish his right thereto, and indemnify the depositary against the claim of the depositor, the depos itary is exonerated from liability to the person to whom he gave the notice, upon returning the thing to the depositor, or assuming, in good faith, a new obligation changing his position in respect to the thing, to his prejudice. Delivery of thing owned N. Y. C. C., Sec. 917. SEC. 1827. If a thing deposited is owned jointly or in jointly, etc. common by persons who cannot agree upon the manner of its delivery, the depositary may deliver to each his proper share thereof, if it can be done without injury to the thing. This provision is new, but is intended to obviate a difficulty which may sometimes arise. N. Y. C. C., Sec. 918. CHAPTER II. DEPOSIT FOR KEEPING. ARTICLE I. GENERAL PROVISIONS. II. GRATUITOUS DEPOSIT. III. STORAGE. IV. INNKEEPERS. V. FINDING. ARTICLE I. GENERAL PROVISIONS. SECTION 1833. Depositor must indemnify depositary. 1834. Obligation of depositary of animals. 1835. Obligations as to use of thing deposited. 1836. Liability for damage arising from wrongful use. 1838. Injury to, or loss of thing deposited. 1839. Service rendered by depositary. 1840. Extent of his liability for negligence. SEC. 1833. A depositor must indemnify the depositary1. For all damage caused to him by the defects or vices of the thing deposited; and, 2. For all expenses necessarily incurred by him about the thing, other than such as are involved in the nature of the undertaking. SEC. 1834. N. Y. C. C., Sec. 919. A depositary of living animals must provide them with suitable food and sheiter, and treat them kindly. N. Y. C. C., Sec. 920. SEC. 1835. A depositary may not use the thing deposited, or permit it to be used, for any purpose, without the consent of the depositor. He may not, if it is purposely fastened by the depositor, open it without the consent of the latter, except in case of necessity. N. Y. C. C., Sec. 921. SEC. 1836. A depositary is liable for any damage happening to the thing deposited, during his wrongful use thereof, unless such damage must inevitably have happened though the property had not been thus used. N. Y. C. C., Sec. 922. in danger of perishing. SEC. 1837. If a thing deposited is in actual danger of sale of thing perishing before instructions can be obtained from the depositor, the depositary may sell it for the best price obtainable, and retain the proceeds as a deposit, giving immediate notice of his proceedings to the depositor. N. Y. C. C., Sec. 923. |