P.R. Laws tit. 10, § 448
(1) In this chapter, unless the context or subject matter requires:
Action. — Includes counterclaim, setoff, and suit in equity.
Delivery. — Means voluntary transfer of possession from one person to another.
Fungible goods. — Means goods of which any unit is, from its nature, or by mercantile custom, treated as the equivalent of any other unit.
Goods. — Means chattels or merchandise in storage, or which has been or is about to be stored.
Holder of a receipt. — Means a person who has both actual possession of such receipt and a right of property therein.
Order. — Means an order by indorsement on the receipt.
Owner. — Does not include mortgagee or pledgee.
Person. — Includes a corporation or partnership or two (2) or more persons having a joint or common interest.
To purchase. — Includes receipt of the thing in pledge.
Purchaser. — Includes pledgee.
Receipt. — Means a warehouse receipt.
Value. — Is any consideration sufficient to support a simple contract. An antecedent or preexisting obligation, whether for money or not, constitutes value where a receipt is taken either in satisfaction thereof or as a security therefor.
Warehouseman. — Means a person lawfully engaged in the business of storing goods for profit.
(2) A thing is done “in good faith” within the meaning of this chapter, when it is in fact done honestly, whether it be done negligently or not.
History —Feb. 21, 1918, No. 9, p. 22, § 58.