This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 596.— A bank agrees to make an allowance to Brown Bros. on the security of hogs. The hogs are the property of the firm, but are in possession of Robert Brown, one of the partners. Should the assignment under sec. 74 of the Bank Act be taken from Robert Brown or from the firm?
Answer.—The assignment must be taken from the owner of the goods, in this instance from the firm of Brown Bros. It is not necessary that the goods should be in the owner's possession in order to validate the assignment, but the name of the person in whose possession they are should be mentioned, as also the place or places where the hogs are kept.