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Revised Laws of Saint Lucia
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COMMERCIAL CODE
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242. Effect of pledges of documents of title
Revised Laws of Saint Lucia (2021)
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242. Effect of pledges of documents of title
A pledge of the documents of title to goods shall be deemed to be a pledge of the goods.
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242. Effect of pledges of documents of title
1. Definition
2. Commercial domicile
4. Capacity in general
5. Married women
6. Separate trade
7. (Repealed by Act 5 of 1957)
8. Minors
9. Method of keeping accounts prescribed
10. Admissibility as evidence
11. Goodwill
12. Right of purchaser to use name of vendor
14. Vendor using old name
15. Value or goodwill
16. Unfair competition
17. Covenants in restraint of trade
18. Forms of association
19. Prohibition of partnerships exceeding certain number
20. Registration
21. Definition of partnership
22. Rules for determining existence of partnership
23. Postponement of rights of person lending or selling in consideration of share of profits in caseof insolvency
24. Power of partner to bind the firm
25. Partners bound by acts on behalf of firm
26. Partner using credit of firm for private purposes
27. Effect of notice that firm will not be bound by acts of partner
28. Liability of partners
29. Liability of the firm for wrongs
30. Misapplication of money or property received for or in custody of the firm
31. Liability for wrongs joint and several
32. Improper employment of trust property for partnership purposes
33. Persons liable by “holding out”
34. Admissions and representations of partners
35. Notice to acting partner to be notice to the firm
36. Liabilities of incoming and outgoing partners
37. Revocation of continuing guaranty by change in firm
38. Variation by consent of terms of partnership
39. Partnership property
40. Property bought with partnership money
41. Conversion into personal estate of land held as partnership property
42. Procedure against partnership property for a partner's separate judgment debt
43. Rules as to interests and duties of partners subject to special agreement
44. Expulsion of partner
45. Retirement from partnership at will
3. Conflict of laws
46. Where partnership for term is continued over, continuance on old terms presumed
47. Duty of partners to render accounts etc.
48. Accountability of partners for private profits
49. Duty of partner not to compete with firm
50. Rights of assignee of share in partnership
51. Dissolution by expiration or notice
52. Dissolution by banruptcy, death, or charge
53. Dissolution by illegality of partnership
54. Dissolution by the court
55. Rights of persons dealing with firm against apparent members of firm
56. Right of partners to notify dissolution
13. Soliciting customers of old business
57. Continuing authority of partners for purposes of winding up
58. Rights of partners as to application of partnership property
59. Apportionment of premium where partnership prematurely dissolved
60. Rights where partnership dissolved for fraud or misrepresentation
61. Rights of outgoing partner in certain cases to share profits made after dissolution
62. Retiring or deceased partner's share to be a debt
63. Rules for distribution of assets on final settlement of accounts
64. General partner
65. Definition and constitution of limited partnership
66. Registration required
67. Modifications of general law in case of limited partnership
68. Registration
69. Registration of changes
70. Advertisement in gazette
71. The registrar
72. Rules
240. Interpretation
241. Powers of mercantile agent with respect to disposition of goods
243. Pledge for antecedent debt
244. Rights acquired by exchange of goods or documents
245. Etc.
246. Provisions as to consignors and consignees
247. Definition
248. Duties of factors
249. Implied authority of factors
250. Definition
251. Duty of broker
252. Implied authority of broker
253. Insurance brokers
254. Definition
255. Transfer of title
256. Failure of purchaser to pay
257. When liable for conversion
258. Lien
259. Neglect to obtain deposit
260. Retention of deposit until completion
261. Negligent misdescription
262. Bidding at auction sales
263. Official sales
271. INTERPRETATION
271. Sale and agreement to sell
273. Capacity to buy and sell
274. Contract of sale, how made
275. (Repealed by Act 5 of 1957)
276. Existing or future goods
277. Goods which have perished
278. Goods perishing before sale but after agreement to sell
279. Ascertainment of price
280. Agreement to sell at valuation
281. Stipulations as to time
282. When condition to be treated as warranty
283. Implied undertaking as to title, etc.
284. Sale by description
285. Implied conditions as to quality or fitness
286. Sale by sample
287. Goods must be ascertained
288. Property pases when intended to pass
289. Rules for ascertaining intention
290. Reservation of the right of disposal
291. Risk prima facie pases with property
292. Sale by person not the owner
293. Market overt
294. Sale under voidable title
295. Revesting of property in stolen goods on conviction of offender
296. Seller or buyer in possession after sale
297. Effects of writs of execution
298. Duties of seller and buyer
299. Payment and delivery are concurrent conditions
300. Rules as to delivery
301. Delivery of wrong quantity
302. Instalment deliveries
303. Delivery to carrier
304. Risk where goods are delivered at distant place
305. Buyer's right of examining the goods
306. Acceptance
307. Buyer not bound to return rejected goods
308. Liability of buyer for neglecting or refusing delivery of goods
311. Seller's lien
312. Part delivery
313. Termination of lien
314. Right of stoppage in transit
315. Duration of transit
317. Effect of sub-sale or pledge by buyer
318. Sale not generally rescinded by lien or stoppage in transitu
319. Action for price
320. Damages for non-acceptance
321. Damages for non-delivery
323. Remedy for breach of warranty
324. Interest and special damages
325. INTERPRETATION
326. Bills of exchange defined
327. Inland and foreign bills
328. Effect where different parties to bill are the same person
329. Address to drawee
330. Certainty required as to payee
331. What bills are negotiable
332. Sum payable
333. Bill payable on demand
334. Bill payable at a future time
335. Omission of date in bill payable after date
336. Ante-dating and post-dating
338. Case of need
339. Optional stipulations by drawer or indorser
340. Definition and requisites of acceptance
341. Time for acceptance
342. General and qualified acceptances
343. Inchoate instruments
344. Delivery
345. Capacity of parties
346. Signature essential to liability
347. Forged or unauthorised signature
348. Procuration signatures
349. Person signing as agent or in representative capacity
350. Value and holder for value
351. Accommodation bill or party
309. Unpaid seller defined
352. Holder in due course
353. Presumption of value and good faith
310. Unpaid seller's rights
354. Negotiation of bill
355. Requisites of a valid indorsement
356. Conditional indorsement
357. Indorsement in blank and special indorsement
358. Restrictive indorsement
316. How stoppage in transitu is effected
359. Negotiation of overdue or dishonoured bill
360. Negotiation of bill to party already liable thereon
361. Rights of the holder
362. When presentment for acceptance is necessary
363. Time for presenting bill payable after sight
364. Rules as to presentment for acceptance and excuses for non-presentment
322. Specific performance
365. Non-acceptance
366. Dishonour by non-acceptance and its consequences
367. Duties as to qualified acceptances
368. Rules as to presentment for payment
368A. Presentment of cheque for payment: alternative place of presentment
368B. Presentment of cheque for payment: alternative means of presentment by banker
369. Excuses for delay or non-presentment for payment
370. Dishonour by non-payment
371. Notice of dishonour and effect of non-notice
372. Rules as to notice of dishonour
373. Excuses for non-notice and delay
375. Duties of holder as regards drawee or acceptor
375A. Holder not obliged to exhibit bill to secure payment
376. Funds in hand of drawee
337. Computation of time of payment
377. Liability of acceptor
378. Liability of drawer or indorser
379. Stranger signing bill liable as indorser
380. Measure of damages against parties to dishonoured bill
381. Transfer by delivery and transferee
382. Payment in due course
383. Banker paying demand draft whereon indorsement is forged
384. Acceptor the holder at maturity
385. Express waiver
386. Cancellation
387. Alteration of bill
388. Acceptance for honour supra protest
389. Liability for acceptor for honour
390. Presentment to acceptor for honour
392. Holder's right to duplicate of lost bill
393. Action on lost bill
394. Rules as to sets
395. Rules where laws conflict
396. Cheque defined
396A. Cheque certification
397. Presentment of cheque for payment
398. Revocation of banker's authority
399. General and special crossings defined
400. Crossing by drawer or after issue
401. Crossing a material part of cheque
402. Duties of banker as to crossed cheques
403. Protection to banker and drawer where cheque is crossed
404. Effect of crossing on holder
404A. Non transferable cheques
405. Protection of banker
405A. Application of articles 399 to 405 to banker's drafts
407. Delivery necessary
408. Joint and several notes
410. Presentment of note for payment
411. Liability of maker
412. Application of part ii to notes
413. Signature
374. Noting or protest of bill
414. Computation of time
415. When noting equivalent to protest
416. Protest when notary not accessible
416A. Regulations
417. Marine insurance defined
418. Mixed sea and land risks
419. Marine adventure and maritime perils defined
420. Avoidance of wagering or gaming contracts
421. Insurable interest defined
422. When interest must attach
423. Defeasible or contingent interest
424. Partial interest
425. Re-insurance
426. Bottomry
427. Master's and seamen's wages
428. Advance freight
429. Charges of insurance
430. Quantum of interest
391. Payment for honour supra protest
431. Assignment of interest
432. Measure of insurable value
433. Insurance is ubeerrimae fidei
434. Disclosure by assured
435. Disclosure by agent effecting insurance
436. Representations pending negotiation of contract
437. When contract is deemed to be concluded
438. Contract must be embodied in policy
439. What policy must specify
440. Signature of insurer
441. Voyage and time policies
442. Designation of subject-matter
443. Valued policy
444. Unvalued policy
445. Floating policy by ship or ships
446. Construction of terms in policy
447. Premium to be arranged
448. Double insurance
406. Promissory note defined
450. When breach of warranty excused
409. Note payable on demand
451. Express warranties
453. No implied warranty of nationality
454. Warranty of good safety
455. Warranty of seaworthiness of ship
456. No implied warranty that goods are seaworthy
457. Warranty of legality
458. Implied condition as to commencement of risk
459. Alteration of port of departures
460. Sailing for different destination
461. Change of voyage
462. Deviation
464. Delay in voyage
465. Excuses for deviation or delay
466. When and how policy is assignable
467. Assured who has no interest cannot assign
468. When premium payable
469. Policy effected through broker
470. Effect of receipt on policy
471. Included and excluded losses
472. Partial and total loss
473. Actual total loss
474. Missing ship
475. Effect of transhipment, etc.
476. Constructive total loss defined
477. Effect of constructive total loss
478. Notice of abandonment
479. Effect of abandonment
480. Particular average loss
482. General average loss
483. Extent of liability of insurer for loss
484. Total loss
485. Partial loss of ship
486. Partial loss of freight
487. Partial loss of goods, merchandise, etc.
488. Apportionment of valuation
489. General average contributions and salvage charges
490. Liabilities to third parties
491. General provision as to measure of indemnity
449. Nature of warranty
493. Successive losses
494. Suing and labouring clause
452. Warranty of neutrality
495. Right of subrogation
496. Right of contribution
497. Effect of under insurance
498. Enforcement of return
499. Return by agreement
500. Return for failure of consideration
501. Modification in case of mutual insurance
502. Ratifications by assured
503. Slip as evidence
504. Interpretation of terms
463. Several ports of discharge
505. Application of foregoing principles
506. Proof of conditions and events
507. Knowledge of agent
508. Conditions precedent
509. Definition
510. Life policy
511. Sum insured, how payable
512. Gaming and wagering
513. Insurable interest
514. Form of policy
515. Payment of premium
516. Death by felony
517. At what time sufficient
518. Insurable value
519. When and how policy is assignable
520. Foreign insurers
521. Lien on policy for premiums
522. Debtor and creditor
523. Novation
481. Salvage charges
524. Contract defined
525. Policy and risk
526. Duration
528. Interest
529. Description of property
530. Locality
531. Alteration of premises
532. Value at time of loss
533. Losses covered by policy
492. Particular average warranties
534. Contribution
535. Fraudulent claims
536. Insurer's liability
537. Reinstatement
538. Assignment of policy
539. Accident insurance defined
540. Construction of accident policies
541. Guarantee insurance defined
542. Relation to ordinary guarantees
543. Interpretation
544. Acts of bankruptcy
545. Receiving order
547. Proceedings on creditor's petition
548. Order on debtor's petition
549. Effect of receiving order
550. Power to appoint special manager
551. Advertisement of receiving order
552. First meeting of creditors
553. Debtor's statement of affairs
554. Public examination of debtor
555. Composition, etc.
556. Effect of composition or scheme
557. Adjudication where composition not accepted or approved
558. Appointment of trustee
559. Power to accept composition or scheme after adjudication
560. Duties of the debtor as to discovery and realisation of property
561. Arrest of debtor under certain circumstances
562. Re-direction of debtor's letters
563. Discovery of debtor's property
564. Discharge of bankrupt
566. Disqualifications of bankrupt
567. Vacating of office
568. Annulling adjudication and the effect thereof
569. Meaning of payment of debt in full
527. Personal nature of contract
570. Description of debts provable in bankruptcy
571. Mutual credit and set off
572. Proof of debts
573. Priority of debts
574. Relation back of trustee's title
575. Description of bankrupt's property divisible amongst creditors
576. Rights of creditors and duties of sheriff as to seizures in execution
577. Avoidance of voluntary preferences
578. Avoidance of fraudulent preferences
579. Protection of bona fide transactions without notice
580. Possession of property by trustee
581. Seizure of property of bankrupt
582. Appropriation of portion of salary to creditors
583. Vesting and transfer of property
584. Disclaimer of onerous property
585. Powers of trustee
586. Declaration and distribution of dividends
587. Joint and separate dividends
546. When creditor may petition
589. Rights of creditor who has not proved before declarion of dividend
591. No action for dividend
593. Bankrupt's right to surplus
594. Duties of receiver as to the debtor's conduct
595. Duties of receiver as to debtor's estate
596. Remuneration of trustee
597. Payment of money into bank
598. Trustee not to pay into private account
599. Audit of trustee's accounts
600. Trustee to furnish list of creditors
601. Books to be kept by trustee
602. Liability for misfeasance, etc.
603. Effect of application for release
604. Official name of trustee
605. Power to appoint joint or successive trustee
606. Office of trustee vacated by insolvency
607. Removal of trustee
608. Proceedings on vacancy in office of trustee
565. Effect of order of discharge
609. Discretionary powers of trustee and control
610. Appeal to court againstrustee
611. Bankruptcy matters, how entitled and heard
612. Consolidation of petitions
613. Power to change carriage of proceedings
614. Continuance of proceedings on death of debtor
615. Power to stay proceedings
616. Execution of search warrant
617. Execution of companies
618. Administration of partnership estates
619. Application of bankruptcy law to limited partnerships
620. Receiving order where debts or assets not likely to exceed $480
621. Administration in bankruptcy of estate of debtor dying insolvent
622. Rules, forms and tariffs
623. Evidence of proceedings at meetings of creditors
624. Formal defect not to invalidate proceedings
625. Unclaimed dividends
626. Provision in case of misdemeanour
627. Certain provisions to bind the crown
628. Application
629. Complete and provision specifications
630. Contents of specification
588. Provision for distant creditors disputed claims, etc.
631. Priority date of claims of complete specification
632. Examination of applicationn
633. Refusal of application in certain cases
590. Final dividend
634. Right of applicant to be heard
592. Power to allow bankrupt to manage property
635. Assistance and remuneration of experts
636. Acceptance and publication of complete specification
637. Effect of acceptance of complete specification
638. Opposition to grant of patent
639. Grant and sealing of patent
640. Date of patent
641. Form of patent
642. Fraudulent applications for patents
643. Single patent for cognate inventions
644. Term of patent
645. Extension of term of patent
646. Patents of addition
647. Restoration of lapsed patents
648. Amendment of specification by registrar
650. Restriction on recovery of damages
651. Advertisement of amendment
652. Court may order patentee to grant licences
653. Revocation of patent
654. Particulard
655. Hearing with assessor
656. Power to counter-claim for revocation in an action for infringement
657. Exemption of innocent infringer from liability for damages
658. Order for inspection, etc., in action
659. Certificate of validity questioned and costs thereon
660. Remedy in case of groundless threats of legal proceedings
660A. Registration of united kingdom patents
661. Application for registration of designs
662. Registration of designs in new classes
663. Certificate of registration
663A. Protection of designs registered in United Kingdom
664. Copyright on registration
665. Requirements before delivery on sale
666. Effect of disclosure on copyright
667. Inspection of registered designs
668. Information as to existence of copyright
669. Ceasing of copyright
670. Piracy of registered design
671. Application to designs of certain provisions as to patents
672. Trade mark must be for particular goods or services
673. Registrable trade marks
674. Coloured trade marks
675. Restriction on registration
676. Application for registration
677. Advertisement of application
678. Opposition to registration
679. Disclaimers
680. Date of registration
681. Certificate of registration
682. Non-completion of registration
683. Identical marks
684. Rival claims to identical marks
685. Concurrent user
686. Associated trade marks
688. Series of trade marks
689. assignment and user of associated trade marks
690. Application for registration
649. Amendment of specification by the court
691. Standardisation
691A. Defensive registration of well known trade marks
692. Powers of, and restrictions on, assignment and transmission
693. Apportionment of marks on dissolution of partnership
694. Duration of registration
695. Renewal of registration
696. Procedure on expiry of period of registration
697. Status of unrenewed trade mark
698. Removal from register and imposition of limitations on ground of non-use
698A. Registered users
699. Powers of registered proprietor
700. Rights of proprietor of trade mark
701. Registration to be prima facie evidence of validity
702. Registration to be conclusive after 7 years
703. Unregistered trade mark
704. Infringement
705. User of name, address or description of goods
706. “passing off” action
707. International and inter-colonial arrangements
708. Registrar and office
709. Interpretation
710. Register of patents, designs and trade marks
711. No trust to be entered
712. Inspection of and extract from register
713. Publication of annual list
714. Transmission of copies to england
715. Power for registrar to correct clerical errors
717. Rectification of registers by court
717A. Power to expunge or vary registration for breach of condition
718. Registrar to have notice of proceeding for rectification
719. Costs of proceedings before the court
720. Falsification of entries in register
721. False respresentations in respect to patents or designs
722. Unauthorised assumption of royal arms
723. Penalty on falsely representing a trade mark as registered
724. Evidence
725. Extension of time
726. Patent to bind crown
687. Combined trade marks
727. Saving for prerogative
728. Fees
729. Appeals
730. Rules and forms
716. Entry of assignments and transmissions in registers
Appendix
Schedule