Securities under Section 74.

Question 394.— (1) How will the recent amendment to the "Married Woman's Property Act" affect the position of a married woman in respect to contracts ?

(2) Can a married woman resident in Ontario give security under sec. 74 and issue warehouse receipts; and, if so, would they be equally binding whether or not she owned the warehouse where the goods are stored ?

(3) Can a man give security under sec. 74, or warehouse receipts for goods stored in a warehouse which he has rented ?

Answer.—The recent amendment has removed what might be described as the property qualification necessary to enable a married woman to enter into such a contract as the giving of a promissory note, etc. It is not necessary now that she should have property at the time of the signing of the note, and if she acquires property afterwards a creditor has the right to look to it for her debt.

(2)   A married woman may give security under sec. 74, or warehouse receipts, under the same circumstances in which a man could give them. See answer (3).

(3)   A man can give valid security under sec. 74 if he is qualified under the terms of the Act to give such security upon goods he owns, wherever they may he stored, whether in his own warehouse, a rented warehouse, or in any place whatever. He could give a warehouse receipt for goods which are in his possession as bailee, whether stored in a warehouse which he owns or which he has possession of as a tenant or otherwise. The point is that he must be in actual possession of the goods.