Imagens das páginas

drawn for



note by stranger


$ 11. Bills, drafts, or checks, payable in bank notes or Bills

, &c., payacurrency, or other funds, wheresoever drawn or payable, &c., treated as if 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.

$ 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 obli- Myers' Sup., 747. gor payable to himself or to his order, and is signed on the payable to makback 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 Indorsement of back of a promissory note shall be deemed and treated as good as a guaran 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.

$ 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 writ. If not agreed up. ing for the payment of money shall bear the same rate of cent. 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.

$ 17. After the death of the payor or obligor of a contract for the loan or forbearance of money at a higher rate of interest than six per centum per annum, such contract,

Interest at the rate of ten per


on, then six per per centum, then

After death of ob. ligor and mattirity,

then six per cent.


after maturity, and any judgment rendered thereon, shall bear six per centum per annum.

$ 18. If any rate of interest exceeding the rate authorIf exceeding ten ized by the fifteenth section of this chapter shall be charged, the whole interest 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, The authority of by the act of an agent, unless the authority of the agent is surety must be in 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, Certain promis or to a corporation, and payable and negotiable at any bank on the same font incorporated under any law of this Commonwealth, or organing as foreign bills of exchange. ized 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.

agent to bind a



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, IR. S., 276. shall be the same in courts of law that it is in a court of equity.

equity. Pitman on Sureties, 148.

§ 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."

Same in law and

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IR. S., 277

tees not entitled.

to an heir at law.

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 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.

$ 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 as to debts, genshall be no distinction between specific and general devises, devises the same. except as herein provided.

$ 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 Portion of posshare of such child shall be first taken from the estate not how made up. 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.

$ 8. A posthumous child shall be considered a devisee a posthumous under the law of contribution, and entitled to all his rights, devisee and liable to all his responsibilities.

$ 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.

§ 10. Contribution shall take place between heirs and dis- Contribution betributees, on the same principles as between co-obligors.

$11. 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 after. wards B becomes surety in the bond required by the statute in respect of sales of infants' real

child considered

what effect.

tween heirs, &c.

$ 12. The same rights and responsibilities shall continue The right and ob- in favor of and against the representatives of a person entiligation survive.

tled 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.

§ 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 or taken.

on the principles of this chapter, unless the will otherwise directs, or it is necessarily to be inferred therefrom that the testator inten the same to fall on such devise.

§ 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 loses her jointure

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.

$ 15. In actions for the settlement of estates, or for the Acts 1859–60,94 recovery of money or property held in joint tenancy, cocutes for benefit parcenary, 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.

When one prose

of all.

What interest in

one year.



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 Attor-
ney-Deeds of Married Women.

§ 1. The owner may convey any interest in lands not in 1 R. S., 278. the adverse possession of another.

lands may be con

veyed § 2. No estate of inheritance, or freehold, or for a term

Writing necessaof more than one year, in lands, shall be conveyed, unless into passearbesa by deed or will. S 3. All deeds of bargain and sale, deeds to stand seized Possession trans

ferred. to 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 What words conwarrant the property hereby conveyed,” or words of like ranty, general

special. 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.

§ 6. A covenant by a grantor, “that he will warrant 1 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 war- General warranty ranty,” in any deed, shall be deemed to be a covenant by ranty. 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

R., 505.


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