131. Pledge by possessor of goods, or of documentary title to goods

A person who is in possession of any goods, or of any bill of lading, dock-warrant, warehouse-keeper’s certificate, wharfinger’s certificate, or warrant or order for delivery, or any other document of title to goods, may make a valid pledge of the goods or documents:

Provided that—

the pawnee acts in good faith, and under circumstances which are not such as to raise a reasonable presumption that the pawnor is acting improperly; and

the goods or documents have not been obtained from their lawful owner, or from any person in lawful custody of them, by means of an offence or fraud.