§ SECOND READING.
§ THE LORD CHANCELLORIn moving the Second Reading of this Bill I need trouble your Lordships with only a few observations. Its object is to amend and consolidate the laws relating to various commercial transactions, to repeal four Statutes which up to now have embodied the law, and to remove from the minds of many of the commercial classes difficulties which have arisen in consequence of a recent decision of your Lordships' House—I refer to Lord Sheffield's case. Undoubtedly the decision, which made certain commercial documents Bills of Sale within the meaning of the Act of 1878, amounted practically to an alteration of the law of Factors, and its effect has been to seriously entangle the law on this subject, so that codification and amendment are urgently required. An important part of this measure is that which gives definitions of "mercantile agent," "goods," "document of title," and other commercial phrases. I may mention that I have received communications from the Association of Writers to the Signet in Scotland and from a number of country bankers approving of the Bill, and suggesting other alterations of the law. If your Lordships give the Bill a Second Reading, I propose to move that it be referred to the Standing Committee for Bills relating to Law, &c., where its provisions may be carefully examined and possibly improved.
Bill read 2a (according to order) and committed to the Standing Committee for Bills relating to Law, &c.