Section 4

Section 4. If any person shall accept or take such merchandize or document from any such consignee or factor, in deposit or pledge for any debt or demand previously due by or existing against such consignee or factor, and without notice as aforesaid, and if any person shall accept or take such merchandize or document from any such consignee or factor in deposit or pledge, with notice or knowledge that the person making such deposit or pledge is a consignee or factor only, in every such case the person accepting or taking such merchandize or document in deposit or pledge, shall acquire the same right and interest in such merchandize as was possessed or could have been enforced by such consignee or factor against his principal at the time of making such deposit or pledge, and no further or other right or interest.