or things in action for the price of fifty dollars or more shall be void; unless-1. A note or memorandum of such contract be made in writing, and be subscribed by the parties to be charged thereby; or, 2. Unless the buyer shall accept and receive part of such goods, or the evidences, or some of them, of such things in action; or, 3. Unless the buyer shall, at the time, pay some part of the purchase-money.

3. A contract conveys an interest either in possession or in action. If one person sells and delivers goods to another for a price paid, the agreement is executed. If one person agrees to sell and deliver at a future time, and for a stipulated price, and the other party agrees to accept and pay, the contract is executory, and rests in action only. There are also express and implied contracts. An express contract exists, when the parties contract in express words or by writing. An implied contract exists, when the law raises or presumes a contract, by reason of some value received or service rendered.

4. It is essential in every contract that there be parties capable of contracting, willing to contract, and who actually do contract. We have already seen how far infants and married women are competent to contract. Every person is presumed to be competent to contract, until the contrary be proved. Sanity is to be presumed, until the contrary be proved. If a court of inquiry has decided that a person is a lunatic, his lunacy is presumed to continue, until the contrary be proved. After an inquest has been held, and a committee appointed to take charge of

a contract for the sale of goods, chattels, or things in action for the price of fifty dollars or more, valid?

3. How does a contract convey an interest? Give an example of an executed contract. Give an example of an executory contract. What is an express contract? What is an implied contract?

4. What is essential to every contract? Who are presumed to be competent to contract? What is the presumption as to sanity? If a court of inquiry has decided that a person is a lunatic, what is thereafter presumed as to his lunacy? After an inquest has been held, and a committee appointed to take charge of his person and estate, what is the presumption as to his contracts? What is the rule by the common law

his person and estate, all contracts made by such lunatic are presumed to be absolutely void, unless his sanity can be established by competent evidence. By the common law, a contract made by a person of unsound mind is voidable only, and not void; and when a contract is sought to be avoided on the ground of mental imbecility, the proof of the fact lies upon the person who alleges it. But if mental derangement be once established, the presumption is shifted to the other side, and sanity is then to be shown. A contract made by a person so destitute of reason as not to know the consequence of his contract, though his incompetency be produced by intoxication, is void. Imbecility of mind is sufficient to set aside a contract, when there is an essential privation of the reasoning faculties, or an incapacity of understanding, and acting with discretion in the ordinary affairs of life. If the contract be entered into in consequence of violence, or under the influence of undue restraint, the party may avoid it by a plea of duress. A contract will not be valid, if obtained by misrepresentation or concealment, or if it be founded in mistake as to the subject-matter of the contract. Fraud vitiates all contracts.

5. The parties may contract severally; jointly; jointly and severally; by agent or attorney; in a collective capacity, as partnerships and corporations; by guardian, if a minor; by committee, if non compos mentis. When an obligation is assumed by two or more persons, it is presumed to be a joint obligation. Words of joinder

as to contracts made by a person of unsound mind? Upon whom lies the burden of proof of the insanity? If mental derangement be once legally established, what is the presumption? If the party making the contract is by means of intoxication so destitute of reason as not to know the consequence of his contract? What degree of imbecility of mind will be sufficient to set aside a contract? If the contract be entered into in consequence of force, violence, or undue restraint? If in consequence of misrepresentation or concealment? If it be founded in mistake as to the subject-matter? What is the effect of fraud?

5. In what manner may parties contract? When an obligation is assumed by two or more persons, what is presumed? Are words of joinder necessary to produce a joint obligation? Are words of severance

are not necessary to produce a joint obligation; but words of severance are necessary to produce a several responsibility. In an action on a joint and several obligation, the plaintiff must proceed against all jointly, or each severally. A contract to pay a sum of money to several persons is a joint contract, and no one can sue alone for his proportion.

6. If two or more persons are jointly, or jointly and severally bound, and the party to whom they are bound releases one of them, all are discharged. If one of the parties be discharged by operation of law, as by taking the benefit of the bankrupt law, the others are not discharged. The party who binds himself by a contract is called an obligor. The party to whom he is bound is called the obligee. If one of the joint obligees die, the right of action is solely with the survivors. If all die, the action must be brought by the executor or administrator of the last survivor. If one of the joint obligors dies, the action must be brought against the survivor.

7. Where two or more persons, not partners, are jointly, or jointly and severally, bound to pay a sum of money, and one of them pays the whole, he may recover from the others the proportion which they ought to have paid. If a judgment has been recovered against several parties jointly, or jointly and severally liable, and one of the defendants satisfies the execution, he has a claim against the other defendants for the proportion which they ought to

necessary to produce a several obligation? In an action upon a joint and several obligation how must the plaintiff proceed? If a contract is made to pay a certain sum of money to several persons?

6. If two or more persons are jointly, or jointly and severally bound, and the party to whom they are bound release one of them, what is the effect? If one of the parties be discharged by operation of law? What term is applied to the party who binds himself by a contract? What term is applied to the party to whom he is bound? If one of the joint obligees die, in whom is the right of action? If all die? If one of the joint obligors die?

7. When two or more parties are jointly, or jointly and severally bound, and one pays the whole, what may he recover from the others? If a judgment has been recovered, and one of the defendants satisfy the execution? If part of the sureties have become insolvent? Is the con

have paid. If a part of the co-sureties have become insolvent, the surety who pays the entire debt can, in equity, compel the solvent sureties to contribute their share of the whole debt divided among those who are solvent. The contract of contribution is an implied contract. It is a several contract. The surety paying the whole may release one of his co-sureties without waiving his right of action against the rest. Every surety has a claim. against the principal for the amount paid by such surety. The second indorser of a promissory note is not liable upon a claim of contribution to the first indorser, unless there be an agreement between the indorsers that they shall be co-sureties. The undertaking of indorsers is separate and successive, and gives no claim to contribution. If judgment be recovered in an action founded upon tort, the payment by one of the defendants gives no right to claim contribution from the others. A surety cannot demand contribution from one who became surety at his request.

CHAPTER XLVII.

AGENCY.

1. AN agent is a person employed by another to transact some business which the principal himself might transact. The agent is the instrument of the principal, and the principal contracts by his agent. What the prin

tract of contribution express or implied? Is it joint or several? What is the effect if one of the sureties who has paid the whole claim release one of his co-sureties? For what has every surety a claim against the principal? If the first indorser pay a promissory note, is he entitled to contribution from the second indorser? What is the nature of the undertaking of the indorsers? If judgment be recovered in an action founded on tort, and one of the defendants pays the judgment, does this give a claim to contribution? If a surety become such at the request of another surety?

1. For what purpose are agents employed? How does the principal contract? Whose act is the act of the agent?

cipal does by his agent, duly authorized, he does by himself, and the act is the act of the principal.

2. The agent may receive an appointment, which may be oral or in writing; and under such appointment he may bind his principal in all matters within the scope of his agency by oral contracts or contracts in writing. The agent must receive authority under seal to bind his principal under seal. The principal is responsible for, and bound by, the acts of the agent, when there has been an actual appointment, and also when the principal has induced a third party to believe that the agent had been appointed. The question for the jury, in such case, would be, whether or not the principal led the third party into the mistake.

3. Agents are general and special. A general agent is one authorized to transact generally the business of the principal. A special agent is one authorized to do one or more special acts. The agent's authority is that which is given by the terms of his appointment, or that with which he is clothed by the character in which he is held out to the world. If a general agent exceed his authority, the principal is bound, if the agent acted within the ordinary and usual scope of the business he was authorized to transact, and the third party did not know that he exceeded his authority. If a special agent exceed his authority, the principal is not bound.

4. An agent employed for a special purpose receives no general authority from his principal. The authority of an agent is sometimes presumed, on the ground that the prin

2. How may an agent be appointed? What may he do under such appointment? What authority must the agent have to bind his principal under seal? When is the principal bound by the acts of his agent? What is the question to be submitted to a jury in cases where the principal has induced a third party to believe that the agent was duly appointed?

3. What is a general agent? What is a special agent? What is the agent's authority? If a general agent exceed his authority, when is the principal bound? If a special agent exceed his authority?

4. Does an agent employed for a special purpose receive any general authority? On what ground is the authority of an agent sometimes pre