§ 11. Bills, drafts, or checks, payable in bank notes or currency, or other funds, wheresoever drawn or payable, shall be deemed negotiable, and treated in all respects as if drawn for money, except as to the value of the currency in which they are payable. Bills, &c., paya ble in bank notes, &c., treated as if drawn for money. § 12. The protest of a notary public, under his seal, of Protest evidence. the non-acceptance or non-payment of a bill, shall be prima facie evidence of its dishonor. § 13. Whenever a promissory note is made by the obligor payable to himself or to his order, and is signed on the back thereof by the said obligor, and then delivered, such signature and delivery shall operate as a promise to pay the face of the note at maturity to the party to whom the same shall have been delivered, and such party may fill up the blank with words of promise, and recover thereon in the same manner as if such party had been named as payee in the note; and such note shall be assignable as are other promissory notes. § 14. Every person who shall sign his name upon the back of a promissory note shall be deemed and treated as an assignor as to the party holding it, unless in writing a different purpose be expressed; or the note can be legally placed on the footing of a bill of exchange. Myers' Sup., 741. Promissory note payable to mak er's order good. Indorsement of note by stranger good as a guar anty. Interest at the rate of ten per cent. per annum ing. § 15. It shall be lawful for all persons to contract, by memorandum in writing, signed by the party or parties lawful if in writchargeable thereon, to pay or receive any rate of interest for the loan or forbearance of money which may be agreed on by the parties to such contract, not exceeding ten dollars upon one hundred dollars for a year; and at the same rate for a greater or less sum, and for a longer or shorter time; unless the contract for a rate of interest greater than six per cent. per annum shall be in writing, then the rate shall be six per cent. 16. All judgments rendered upon any contract in writing for the payment of money shall bear the same rate of interest which is provided by such contract; but upon contracts in which no rate of interest is agreed upon, the judgment shall bear six per cent. per annum. If not agreed upcent. on, then six per After death of obligor and matu $17. After the death of the payor or obligor of a contract for the loan or forbearance of money at a higher rate rity, then six per of interest than six per centum per annum, such contract, cent. If exceeding ten per centum, then the whole interest forfeited. &c. after maturity, and any judgment rendered thereon, shall bear six per centum per annum. § 18. If any rate of interest exceeding the rate authorized by the fifteenth section of this chapter shall be charged, the whole interest shall be forfeited; and if the lender in such usurious contract refuse, before action, a tender of the principal without interest, he may, in any action on such contract or assurance, recover the principal, but shall pay the costs. 19. Nothing in this chapter shall be construed to authorApplies to banks, ize any bank or other incorporated institution to charge a greater amount, including exchange, than ten per cent. per annum on any bill, bond, note, or other obligation discounted or purchased by it.(a) § 20. No person shall be bound as the surety of another, by the act of an agent, unless the authority of the agent is in writing, signed by the principal; or if the principal do not write his name, then by his sign or mark, made in the presence of at least one creditable attesting witness. § 21. Promissory notes, payable to any person or persons, or to a corporation, and payable and negotiable at any bank incorporated under any law of this Commonwealth, or organized in this Commonwealth under any law of the United States, which shall be indorsed to, and discounted by, the bank at which the same is payable, or by any other of the banks in this Commonwealth, as above specified, shall be, and they are hereby, placed on the same footing as foreign bills of exchange. I R. S., 276. Same in law and equity. Pitman on Sureties, 148. CHAPTER 23. CONTRIBUTION. Between Devisees-As to Residuary Legatee-Upon Birth of Posthumous Child-Between all jointly in Civil Action-How made if Dower is devised or lost. § 1. The extent of recovery, in cases of contribution, shall be the same in courts of law that it is in a court of equity. § 2. When any estate, real or personal, which has or shall Between devisees be devised, shall be taken from the devisee for the payment of a debt of the testator, or one of the devisees shall pay (a) See chapter "Interest and Usury." such debt to save his devise, each of the other devisees shall contribute his proportion of the debt, interest, and costs, to the person so paying the same, according to the value received by him, except as hereinafter provided. § 3. If the testator shall, by his will, have made any other 1 R. S., 277. provision for the payment of his debts, then the preceding M. R., 420. section shall not apply or take effect, except to the extent that such provision and the testator's undevised estate shall be deficient. But the remedy of such devisee, in the first instance, shall be against the person holding the provision, and against the undevised estate. tees not entitled. § 4. A residuary legatee, or legatee after or subject to Residuary legathe payment of debts, or a devisee to whom an estate has or shall be devised to pay debts, shall not, after paying such debts, be entitled to contribution. § 5. As respects the payment of the testator's debts, there shall be no distinction between specific and general devises, except as herein provided. As to debts, gendevises the same. eral and specific to an heir at law. § 6. When any real or personal estate shall be devised to When allowance any one of the heirs at law of the testator, and the title to the same, or any part thereof, shall prove invalid, such devisee shall have contribution from the others, unless it shall appear from the will that such was not the intention of the testator. § 7. When a testator shall have a posthumous child, the share of such child shall be first taken from the estate not disposed of by the will, if any be left after paying debts and other charges, and the residue shall be made up ratably by the devisees. Portion of pos thumous child how made up. child considered § 8. A posthumous child shall be considered a devisee A posthumous under the law of contribution, and entitled to all his rights, and liable to all his responsibilities. devisee. what effect. § 9. The insolvency or non-residence of any person liable Insolvency, &c., to contribution shall affect the rights of the others in like manner as the insolvency of one co-obligor affects the others. tween heirs, &c. 10. Contribution shall take place between heirs and dis- Contribution betributees, on the same principles as between co-obligors. II. Contribution shall take place between all persons Joint liability. who may become jointly liable, by civil action, for any act or omission, in a trust or official capacity, hereafter done or omitted. (a) (a) If A become surety for a guardian in his bond executed in the county court, and afterwards B becomes surety in the bond required by the statute in respect of sales of infants' real ligation survive. § 12. The same rights and responsibilities shall continue The right and ob- in favor of and against the representatives of a person entitled to or bound to make contribution, who dies, as if he were living when contribution is demanded; and the same principle shall apply when more than one die. devisce when a § 13. When a widow's dower shall be taken, or her porWhat allowed tion shall be made up, in whole or in part, from the estate dower is claimed devised to a devisee, such devisee shall have contribution on the principles of this chapter, unless the will otherwise directs, or it is necessarily to be inferred therefrom that the testator intended the same to fall on such devise. or taken. loses her jointure § 14. When a widow shall lose her jointure by a defect When a widow of title, or shall renounce the same in a legal manner, and shall have her dower or portion assigned her, or made up, in whole or in part, from the estate devised to a devisee, such devisee shall have contribution on the principles of this chapter. Acts 1859-'60, 94 When one prose cutes for benefit of all. § 15. In actions for the settlement of estates, or for the recovery of money or property held in joint tenancy, coparcenary, or as tenants in common, if it shall be made to appear that one or more of the legatees, devisees, distributees, or parties in interest, have prosecuted for the benefit of others interested with themselves, and have been at trouble and expense in conducting the same, it shall be the duty of the court to allow such person or persons reasonable compensation for such trouble, and for necessary expenses, in addition to the fees and costs, said allowance to be paid out of the funds recovered, before distribution, the persons interested having notice of the application for such allowance. § 16. This chapter shall not affect the provisions of this revision in relation to property devised which may be subject to a lien. § 17. In all cases of contribution interest shall be allowed from the time the right accrues. estate, when a decree for a sale is procured by the guardian, and the guardian, having received the proceeds of the sale, becomes insolvent, A, if made to pay the money to the ward as surety in the first bond, can recover from B one half the amount by way of contribution, but no more, et e converso. (Elbert vs. Jacoby, 8 Bush, 542.) This case settles a doubt expressed in Yohnson vs. Chandler, 15 B. M., 589. CHAPTER 24. CONVEYANCES. What a Valid Conveyance-Deeds Transfer the Possession-What Constitutes a Warranty of Title-What Deeds are Void as to Creditors, &c.—When Deeds to be Recorded-Deeds of Trust and Mortgages-Powers of Attorney-Deeds of Married Women. § 1. The owner may convey any interest in lands not in R. S., 278. the adverse possession of another. What interest in § 2. No estate of inheritance, or freehold, or for a term of more than one year, in lands, shall be conveyed, unless ry to pass an esby deed or will. tate greater than one year. ferred. § 3. All deeds of bargain and sale, deeds to stand seized Possession transto use, deeds of release, and deeds of trust, shall be held to vest the possession of the grantor in the grantee to the extent of the estate intended to be conveyed. § 4. Every deed of release shall be as effectual for the Deed of release. purposes therein expressed, without the execution of a lease, as if the same had been executed. § 5. A covenant by a grantor in a deed, "that he will warrant the property hereby conveyed," or words of like import, shall have the same effect as if the grantor had covenanted that he, his heirs and personal representatives, would forever warrant and defend the said property unto the grantee, his heirs, personal representatives, and assigns, against the claims and demands of all persons whatever. What words con stitute a war ranty, general special. R., 505. § 6. A covenant by a grantor, "that he will warrant R. S., 279; V. specially the property thereby conveyed," or words of like import, shall have the same effect as if the grantor had covenanted that he, his heirs, and personal representatives, would forever warrant and defend the said property unto the grantee, his heirs, personal representatives, and assignees, against the claims and demands of the grantor, and all persons claiming, or to claim, by, through, or under him. 7. The words "with warranty," or "with general warranty," in any deed, shall be deemed to be a covenant by the grantor, "that he will warrant the property conveyed." The words "with special warranty," in any deed, shall be deemed to be a covenant by the grantor, "that he will warrant specially the property conveyed." § 8. No deed conveying any title to, or interest in, land for a longer time than five years, nor any agreement in con - special war General warranty ranty. |