171 Ga. 906 | Ga. | 1931
We are of the opinion that the court below did not err in overruling the demurrers to the petition. We are aware of the rule which makes a bonded warehouse receipt a negotiable instrument. Maryland Casualty Co. v. Washington Loan & Banking Co., 167 Ga. 354 (145 S. E. 761); Maryland Casualty Co. v. Johnson Co., 167 Ga. 365 (145 S. E. 766). And also the rule that a bona fide purchaser of a negotiable paper not dishonored, or of money, or bank bills, or other recognized currency, will be protected, though the seller had no title. Civil Code (1910), § 4118; First National Bank of Sparta v. City of Sparta, 154 Ga. 25 (114 S. E. 221). It will be observed from reading the statement of ownership and encumbrances of Nesbitt-Williams Cotton Company, attached to the receipt of the Cordele Compress Bonded Warehouse of Cordele, Georgia, that Nesbitt-Williams Cotton Company certifies that it “is the owner or authorized agent of the owner of the cotton covered by this receipt, and that, other than the warehouse
Judgment affirmed.