Minnesota Statutes 228.48 – Negotiating Bill Without Clear Title to Goods
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Subdivision 1.Elements of crime.
If:
Terms Used In Minnesota Statutes 228.48
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
(1) a person ships goods without having title to the goods or with a lien or mortgage on them;
(2) the person takes a negotiable bill for the goods; and
(3) the person later negotiates the bill for value with intent to deceive and without disclosing the lack of title or the existence of the lien or mortgage;
then the person is guilty of a crime.
Subd. 2.Penalty.
Whoever commits the crime described in subdivision 1 may be sentenced for each offense to imprisonment for not more than 364 days or to payment of a fine of not more than $3,000, or both.