Section 29 - Estoppel of bailee, agent or licensee

(1) Except as otherwise provided by law, including a rule of equity, against a claim by a bailee, agent or licensee to whom movable property has been entrusted, the bailor, principal or licensor is conclusively presumed to have been entitled to the movable property at the time it was entrusted.

(2) For the purposes of subsection (1), the bailee, agent or licensee may show

(a) that the bailee, agent or licensee was compelled to deliver up the movable property to another person who had a right to it as against the bailor, principal or licensor, or

(b) that the bailor, principal or licensor wrongfully and without notice to the bailee obtained the movable property from a third person who has claimed it from the licensee, bailor or licensor.