
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC714p]

 
                      TITLE 15--COMMERCE AND TRADE
 
                      CHAPTER 15--ECONOMIC RECOVERY
 
               SUBCHAPTER II--COMMODITY CREDIT CORPORATION
 
Sec. 714p. Release of innocent purchasers of converted goods

    A buyer in the ordinary course of business of fungible goods sold 
and physically delivered by a warehouseman or other dealer who was 
regularly engaged in the business of buying and selling such goods shall 
take or be deemed to have taken such goods free of any claim, existing 
or hereafter arising, by Commodity Credit Corporation, based on the want 
of authority in the seller to sell such goods, provided the buyer 
purchased such goods for value in good faith and did not know or have 
reason to know of any defect in the seller's authority to sell such 
goods. To be entitled to relief under this section a buyer must assert 
as an affirmative defense and establish by a preponderance of the 
evidence the facts necessary to entitle him to such relief.

(June 29, 1948, ch. 704, Sec. 19, as added May 23, 1955, ch. 46, 69 
Stat. 65.)
