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MERCANTILE LAW AMENDMENT ACT 1856

MERCANTILE LAW AMENDMENT ACT 1856 - LONG TITLE

An Act to amend the Laws of England and Ireland affecting Trade
and Commerce.
[29th July 1856]
Preamble rep. by SLR 1892

Ss.1, 2 rep. by 1893 c.71 s.60 sch.

MERCANTILE LAW AMENDMENT ACT 1856 - SECT 3
Written guarantee not to be invalid by reason that the consideration
does not appear in writing.

3. No special promise to be made by any person to answer for the
debt, default, or miscarriage of another person, being in writing,
and signed by the party to be charged therewith, or some other
person by him thereunto lawfully authorised, shall be deemed invalid
to support an action, suit, or other proceeding to charge the
person by whom such promise shall have been made, by reason only
that the consideration for such promise does not appear in writing,
or by necessary inference from a written document.

S.4 rep. by 1890 c.39 s.48 sch.

MERCANTILE LAW AMENDMENT ACT 1856 - SECT 5
Surety who discharges the liability to be entitled to assignment of
all securities held by the creditor, and to stand in the place of
the creditor.

5. Every person who, being surety for the debt or duty of another,
or being liable with another for any debt or duty, shall pay such
debt or perform such duty, shall be entitled to have assigned to
him, or to a trustee for him, every judgment specialty, or other
security which shall be held by the creditor in respect of such
debt or duty, whether such judgment, specialty, or other security
shall or shall not be deemed at law to have been satisfied by the
payment of the debt or performance of the duty, and such person
shall be entitled to stand in the place of the creditor, and to
use all the remedies, and, if need be, and upon a proper
indemnity, to use the name of the creditor, in any action or other
proceeding, at law or in equity, in order to obtain from the
principal debtor, or any co-surety, co-contractor, or co-debtor, as
the case may be, indemnification for the advances made and loss
sustained by the person who shall have so paid such debt or
performed such duty, and such payment or performance so made by
such surety shall not be pleadable in bar of any such action or
other proceeding by him: Provided always, that no co-surety,
co-contractor, or co-debtor shall be entitled to recover from any
other co-surety, co-contractor, or co-debtor, by the means aforesaid,
more than the just proportion to which, as between those parties
themselves, such last-mentioned person shall be justly liable.

Ss.6, 7 rep. by 1882 c.61 s.96 sch.2

MERCANTILE LAW AMENDMENT ACT 1856 - SECT 8
Definition of home port.

8. In relation to the rights and remedies of persons having claims
for repairs done to or supplies furnished to or for ships, every
port within the United Kingdom of Great Britain and Ireland, the
Islands of Man, Guernsey, Jersey, Alderney, and Sark, and the
islands adjacent to any of them, being part of the dominions of
Her Majesty, shall be deemed a home port.

S.9 rep. by SLR 1892; 1958 c.10 (NI) s.75 sch. Ss.1014 rep. by
1958 c.10 (NI) s.75 sch. S.15 rep. by SLR 1894

MERCANTILE LAW AMENDMENT ACT 1856 - SECT 16
Short title.

16. In citing this Act, it shall be sufficient to use the
expression "The Mercantile Law Amendment Act, 1856."