L. W. Sweet & Co. v. Provident Loan Society

The parties stipulate in this submission of controversy that the primary question for consideration is whether the Factors’ Act (Pers. Prop. Law, § 43) protects the alleged lien of the defendant pawnbroker under the agreed facts submitted.

The statute in question, in so far as material to the issue presented, provides:

“ 1. Every * * * agent, * * * intrusted with the possession of any merchandise for the purpose of sale * * * shall be deemed to be the true owner thereof, so far as to give validity to any contract made by such agent with any other person, for the sale or disposition of * * *…