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§ 257.

d'idétes [voir plus haut, § 242 et ss.], ü nous faut citer encore quelques décisions a eet endroit. c Créancier gagiste.

Lorsqu'un créancier gagiste a exercé son droit de réaliser le gage pour cause de retard de paiement de la part du débiteur, celui-ci ayant perdu la faculté de le dégager, ne peut plus en être reconnu propriétaire.

Ningchow (117), saisie de certaine cargaison de suif expédiée de Hankow avant la guerre par des sujets ennemis (allemands) a un consignataire anglais.

„The Yokohama Specie Bank were bidorsees and holders of the bills «jf lading representing the goods at the time of the shipment and at the tune of theb arrival at Liverpool, and were at all material times up to the contracts of sale of October 14 and 22, 1914, hereinafter referred to, the pledgees of the goods in respect of advanees to about 660 /, made upon the security of this pledge.

These advanees had been made before the commencement of the war. The rights of the bank have therefore to be regarded upon principles applicable to ante bellum conditions, as nothing happened subsequently which affected these rights. The pledgors were enemy subjects — Messrs. S G. & Co. carrying on business at Hankow, Shanghai, and Hamburg. — The enemy subjects had contracted to sell the goods to a British ffrm who declined to take up the documents, or to take delivery of the goods themselves after the déclaration of war, from enemy subjects. Thereuppn the bank, as pledgees, proceeded to deal with the goods. — It was admitted by counsel for the Crown that the enemy subj ects, who were the pledgors to the bank, were in default, and that the bank, as pledgees, by reason of such default and after the requisite notice to theb pledgors, became entitled to exercise theb power of sale in order to make the pledge effectïve, before the goods were seized as prize. The bank accordingly in exercise of theb rights as pledgees entered into two contracts of sale with Messrs. Th. &F., dated respectively October 14 and 22, 1914, where-

by they contracted to sell the goods in question to Th. & F In

iny view the enquby as to whether the property in the goods had passed (to Messrs. Th. &F.) is irrelevant to the question which has to be determined m this case, which is whether the goods belonged to enemy subjects at the time of seizure It was admitted that the pledgees were

entitled to exercise theb power of sale. . . The right of the enemy pledgors to redeem had therefore been lost to them, and accordingly they ceased to be in any sense the owners of the pledged goods when the bank contracted to sell, apart entbely from any question which might exist, as between the seUers (pledgors) and theb purchasers, of whether, according to the law of the sale of goods, the property remained in the seUors or had passed to the purchasers. — I hold that when the contracts for sale of October 14 and 22 were made, the enemy pledgors had ceased