Article E-Interpretation § 1841. Cases not provided for in subchapter In any case not provided for by this subchapter, the rules of law and equity, including the law merchant, and in particular the rules relating to the law of principal and agent and to the effect of fraud, misrepresentation, duress, or coercion, mistake, or other invalidating cause, govern. § 1842. Interpretation shall give effect to purpose of uniformity This subchapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. § 1843. Definitions (a) In this subchapter, unless the context or subject matter otherwise requires: "action" includes counterclaim and setoff; "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 or two or more persons having a joint or common interest; "purchase" includes to take as mortgagee or as pledgee; "purchaser" includes mortgagee and pledgee; "receipt" means a warehouse receipt; "value" means 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. (b) A thing is done "in good faith" within the meaning of this subchapter, when it is in fact done honestly, whether it be done negligently or not. § 1844. Short title This subchapter may be cited as the Uniform Warehouse Receipts Act. Subchapter V-Innkeepers § 1871. Innkeeper's lien on property of guests Hotel, inn, boardinghouse, and lodginghouse keepers have a lien upon the baggage and other property belonging to or legally under the control of their guests, boarders, or lodgers which may be in the hotel, inn, or boarding or lodginghouse for the proper charges due from the guests, boarders, or lodgers, for their accommodation, board and lodging, and room rent, and such extras as are furnished at their request, and for all money paid for or advanced to the guests, boarders or lodgers, and for the costs of enforcing the lien, with the right to the possession of the baggage and other property until the charges and moneys are paid. Unless the charges and moneys are paid when they become due, the hotel, inn, boardinghouse, or lodginghouse keeper may sell the baggage and property under the conditions prescribed by sections 1806-1809 of this title relating to warehousemen. § 1872. Unclaimed baggage; sale at auction When a trunk, carpetbag, valise, box, bundle, or other baggage comes into the possession of the keeper of a hotel, inn, or boarding or lodginghouse, and remains unclaimed for a period of three months, he may sell it under the conditions prescribed by sections 1806-1809 of this title relating to warehousemen. Subchapter VI—Finding § 1891. Obligation of finder One who finds a thing lost is not bound to take charge of it, but if he does so he is thenceforward a depositary for the owner, with the rights and obligations of a depositary for hire. 81892. Notice of finding of things or saving of animals; restitution If the finder of a thing, other than a domestic animal, takes possession thereof, or if a person saves such an animal from drowning or starvation, he shall, within a reasonable time, inform the owner thereof, if known, and make restitution to him upon demand, without compensation, except a reasonable charge for saving and caring therefor. If the finder or saver does not know the owner, he shall, within five days, file an affidavit with the magistrate of the subdivision in which the finding or saving took place, particularly describing the property and the time, place, and circumstances under which it was found or saved. § 1893. Proof of ownership The finder of a thing may, in good faith, before giving it up, require reasonable proof of ownership from a person claiming it. § 1894. Reward and compensation to finder The finder of a thing is entitled to compensation for all expenses necessarily incurred by him in its preservation, and for any other service necessarily performed by him about it, and to a reasonable reward for keeping it. § 1895. Storage of thing found The finder of a thing may exonerate himself from liability at any time by placing it on storage with any responsible person of good character, at a reasonable expense. § 1896. Sale by finder The finder of a thing which is commonly the subject of sale, may sell it when the owner cannot, with reasonable diligence, be found, or being found, refuses upon demand to pay the lawful charges of the finder, and when: (1) the thing is in danger of perishing or of losing the greater part of its value; or (2) the lawful charges of the finder amount to two thirds of its value. § 1897. Manner of sale A sale pursuant to section 1896 of this title shall be made in the same manner as the sale of a thing pledged. § 1898. Vesting of property in finder If an owner does not appear within six months after the finding or saving and offer reasonable proof of his ownership, and compensates, or in good faith offer to compensate, the finder or saver for the expense necessarily incurred by him, then the property vests in the finder or saver. § 1899. Abandoned things This subchapter does not apply to things which have been intentionally abandoned by their owners. Sec. CHAPTER 53—DEPOSIT FOR EXCHANGE 1931. Relations of the parties. § 1931. Relations of the parties A deposit for exchange transfers to the depositary the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely. CHAPTER 55-LOAN SUBCHAPTER I-LOAN FOR USE Sec. 1961. Definition of loan for use. 1962. Title to property lent. 1963. Care required of borrower. 1964. Treatment of animals by borrower. 1965. Degree of skill. 1966. Borrower to repair injuries. 1967. Use of thing lent. 1968. Relending forbidden. 1969. Expenses of thing lent. 1970. Liability of lender for defects. 1971. Return of thing lent; time; indemnification for loss. 1972. When returnable without demand. Subchapter I-Loan for Use § 1961. Definition of loan for use A loan for use is a contract by which one gives to another the temporary possession and use of personal property, and the latter agrees to return the same thing to him at a future time, without reward for its use. § 1962. Title to property lent A loan for use does not transfer the title to the thing; and all its increase during the period of the loan belongs to the lender. § 1963. Care required of borrower A borrower for use shall use great care for the preservation in safety and in good condition of the thing lent. § 1964. Treatment of animals by borrower One who borrows a living animal for use shall treat it with great kindness and provide everything necessary and suitable for it. 8 1965. Degree of skill A borrower for use shall have and exercise such skill in the care of the thing lent as he causes the lender to believe him to possess. § 1966. Borrower to repair injuries A borrower for use shall repair all deteriorations or injuries to the thing lent which are occasioned by his negligence, however slight 8 1967. Use of thing lent The borrower of a thing for use may use it for such purposes only as the lender might reasonably anticipate at the time of lending. 1968. Relending forbidden The borrower of a thing for use may not part with it to a third person, without the consent of the lender. 81969. Expenses of thing lent The borrower of a thing for use shall bear all its expenses during the loan, except such as are necessarily incurred by him to preserve it from unexpected and unusual injury. For those expenses he is entitled to compensation from the lender, who may, however, exonerate himself by surrendering the thing to the borrower. 8 1970. Liability of lender for defects The lender of a thing for use shall indemnify the borrower for damage caused by defects or vices in it, which he knew at the time of lending, and concealed from the borrower. § 1971. Return of thing lent; time, indemnification for loss The lender of a thing for use may at any time require its return, even though he lent it for a specified time or purpose. But if, on the faith of such an agreement, the borrower has made such arrangements that a return of the thing before the period agreed upon would cause him loss, exceeding the benefit derived by him from the loan, the lender shall indemnify him for the loss, if he compels the return, the borrower not having in any manner violated his duty. 81972. When returnable without demand If a thing is lent for use for a specified time or purpose, it must be returned to the lender without demand, as soon as the time has expired, or the purpose has been accomplished. In other cases it need not be returned until demanded. 81973. Place of return The borrower of a thing for use shall return it to the lender, at the place contemplated by the parties at the time of lending; or if a particular place was not so contemplated by them, then at the place where it was at the time. Subchapter II-Loan for Exchange 81991. Definition of loan for exchange A loan for exchange is a contract by which one delivers personal property to another, and the latter agrees to return to the lender a similar thing at a future time, without reward for its use. § 1992. Optional loan A loan, which the borrower is allowed by the lender to treat as a loan for use, or for exchange, at his option, is subject to all the provisions of this subchapter. § 1993. Title to property lent By a loan for exchange the title to the thing lent is transferred to the borrower, and he shall bear all its expenses, and is entitled to all its increase. § 1994. Modification of contract A lender for exchange may not require the borrower to fulfill his obligations at a time, or in a manner, different from that which was originally agreed upon. § 1995. Applicability of sections 1970, 1972, and 1973 Sections 1970, 1972, and 1973 of this title apply to a loan for exchange. Subchapter III-Loan of Money § 2011. Definition of loan of money A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed. A loan for mere use is governed by subchapter I of this chapter relating to loan for use. § 2012. Repayment of loan in current money Unless there is an express contract to the contrary, a borrower of money shall pay the amount due in such money as is current at the time when the loan becomes due, whether the money is worth more or less than the actual money lent. § 2013. Loan presumed to be on interest Whenever a loan of money is made, it is presumed to be made upon interest, unless it is otherwise expressly stipulated at the time in writing. § 2014. Definition of interest Interest is the compensation allowed by law or fixed by the parties for the use, or forebearance, or detention of money. § 2015. Annual rate When a rate of interest is prescribed by a law or contract, without specifying the period of time by which the rate is to be calculated, it is to be deemed an annual rate. § 2016. Legal interest A rate of interest may not be allowed in excess of 6 per centum per annum upon any contract for the use or detention of money, unless it is in writing and the interest agreed upon may not exceed 12 per centum per annum. § 2017. Usurious contracts; principal, only, recoverable All contracts whatsoever which may in any way, directly or indirectly, violate section 2016 of this title by stipulating for a greater rate of interest than 12 per centum per annum, are void and of no effect for the amount or value of the interest only; but the principal sum of money or value of the contract may be received and recovered. § 2018. Recovery of usurious interest paid When the interest received or collected for the use or detention of money exceeds the rate of 12 per centum per annum, it shall be deemed to be usurious, and the persons paying the same, or their legal repre |