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Theophilus Parsons.

Laws of business for all the states of the Union : with forms and directions for all transactions. And abstracts of the laws of all the states and territories on the various topics online

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eight hundred and made by (name of the lessor in the

le<~SJ .issigned) whereby he leases to me the following-described premises (here



548 LEASES.

describe the premises briefly), with all and singular the premises therein mentioned
and lescribed, and the buildings thereon, together with the appurtenances.

To Have and to Hold the same unto the said (the name of the

assignee) and his assigns, from the day of for

and during all the rest, residue, and remainder yet to come of and in the term of

years mentioned in the said indenture of lease, and all my

rights and privileges in and under said lease ; subject nevertheless to the rents f
covenants, conditions and provisions therein also mentioned. And I do hereby
covenant, grant, promise and agree, to and with the said (name of the assignee)
that the said assigned premises now are free and clear of and from all former and
other gifts, grants, bargains, sales, leases, judgments, executions, back rents, taxes,
assessments, and incumbrances whatsoever.

1 In "Witness Whereof, I have hereunto set my hand and seal this
day of one thousand eight hundred and

(Signature.) (Seal,)
Sealed and Delivered in the Presence of



(175.)
Landlord's Notice to quit for Non-Payment of Rent ; SJtort Form.

STATE OF ss. A.D. 186

To (name of tenant). You being in possession of the following-described

premises, which you occupy as my tenant (here describe the premises sufficiently to
identify them) in the city (or township) of and county

aforesaid, are hereby notified to quit and deliver up to me the premises aforesaid,
in fourteen days from this date, according to law, your rent being due and unpaid.
Hereof fail not, or I shall take a due course of law to eject you from the same.
Witness. (Signature.)

(170.)

Landlord's Notice to quit for Non-Payment of Rent; anot/ier

Form.

STATE OF CITY OF (date) 18

You are hereby notified to quit the premises situate (state the situation

of the premises, giving township or cily, ami street, and number) which I have leased
to you, reserving rent, or pay and satisfy the rent due and in arrear, being $
which amount was due on the day of 18 and

is hereby denu nded (you having neglected or refused to pay the amount so reserved,
as often as the same has grown due, according to the terms of our contract, and



FORMS OF LEASES, ETC. 549

there being no goods on the premises adequate to pay the rent so reserved, except
uch articles as are exempt from levy and sale by the laws of this State) within
days from the date hereof, or I shall proceed against you as the law
directs. Yours, &c.

(Signature.)
To (name of tenant)



(177.)
Landlord's Notice to pay Kent due, or quit.

STATE OF



88.

COUNTY OF

(Name of landlord) landlord, against (name of tenant) tenant.

Take Notice, That you are justly indebted unto me in the sum of
for rent of (home, store, or other premises, describing them generally) from (date when
the rent was due and pay able), which you are required to pay on or before the expi-
ration of three days from the day of the service of this notice, or surrender up the
possession of the said premises to in default of which shall

proceed under the provisions of law to recover the possession thereof.

Dated this day of 18

(Name of the landlord) Landlord.

To (name of the tenant) Tenant, in possession of the premises above specified.



(178.)
Landlord's Notice to leave at End of the Term.

To (name and address of the tenant)

SIR, Being in the possession of a certain messuage or tenement, with the
appurtenances, situate (describe the premises briefly) which said premises were
demised 1o you by me for a certain term, to wit, from the day of

A.D. 18 until the ' day of

A.D. 18 and which said term will terminate and expire on the day and year
last aforesaid, I hereby give you notice, that it is my desire to have again and re-
possess the said messuage or tenement, with the appurtenances, and I therefore do
hereby require you to leave the same upon the expiration of the said hereinbefore
mentioned term.

Witness my hand this day of city of

A.D. 18.

( Witness ) (Signature.)



550 MORTGAGES OF PERSONAL PROPERTY.

(179.)
Landlord's Notice to determine a Tenancy at Will.

STATE OF ss. A.D. 186

To (name of tenant). You being in possession of the following-described

premises, which you occupy as my tenant at will (describing them sufficiently to
identify them) in the (city and street) aforesaid, are hereby notified to quit and
deliver up to me the premises aforesaid (on such a day, stating here the day as far
distant as is made necessary by the requisite length of notice) according to law, it
being my intention to determine your tenancy at will. Hereof fail not, or I shall
take a due course of law to eject you from the same.

( Witness.) (Signature.)

(180.)
Receipt for Rent, in Use in New York.

Rent payable

The tenant mentioned below hereby agrees to pay the rent of the premises occupied and
nsed by on the first day of the term; and engages to clean the entries,

stairs, stoops, and privy thereof, weekly, in turn with other occupants, and not incumber the
same with furniture, fuel, or rubbish, nor keep any hog, dog, or fowl, nor deposit ashes ot
garbage on said premises, nor in the sinks or privies, nor split wood on the hearth, floor, ot
yard.

NEW YORK, 186

Received from (name of tenant paying) dollars, for ' months'

rent, from 18 to 18 for

(stone, brick, or other) house, No Street, in the city of New York.

9



CHAPTER XXXTT.

MOHTCLA-OES OF GOODS JL1VID CTTATTTTT,8, OR.



IT was said that mortgages are now often made of personal prop-
erty. The instrument need not bo so formal as a mortgage deed
of land. Any instrument will answer the purpose, which would
suffice as a bill of sale of the property, and which contains, in addi-



THE PLEDGE OF PERSONAL PROPERTY. 551

tion to the words of sale and transfer, a clause providing for the
avoidance of it when the debt is paid. I append to this chapter
forms for this purpose.

When the mortgagor of personal property retained possession, it
was formerly doubtful what security the mortgagee had. Now, how-
ever, it is generally provided by statute, that the mortgagor may
retain possession, if the mortgage be recorded.

These instruments should always be recorded according to the
provisions of the statute of the State in which they are made ;
although the general rule would apply to them, that they would
operate without record, as to all parties having notice or knowledge
of them.

The statutes respecting mortgages of personal property always
provide for an equity of redemption, which is usually very much
shorter than that of land. A frequent period is sixty days. The
requirements of the statute in respect to notice, foreclosure, <fec.,
must be strictly followed.

It used to be thought that a personal mortgage might be made to
cover property subsequently acquired by the mortgagee. Thus, a
dealer in dry goods would mortgage all his stock to secure some
creditor, and provide in the mortgage that it should operate upon
all his goods and merchandise subsequently acquired by him. But
it has been held that such a clause has no effect; because no
man can make a mortgage of property which he does not own at
the time.

The Pledge of Personal Property.

A PLEDGEE is bound to take ordinary (not extreme) care of the
thing pledged ; and if it be lost or injured for want of such care,
he is answerable.

He cannot use it, except at his own peril ; that is, he is liable
for any injury caused by using it, even if it was not his fault. If
the thing as a horse needs use for its own safety, then the
pledgee may use it for this purpose, and is liable only for an
injury caused by his negligence.

He must account \fith the pledger for the income, increase, or
profits.



552 MORTGAGES OP PERSONAL PROPERTY.

One difference between a mortgagee and a pledgee is this. A
mortgagee need not take possession, for the mortgagor may retain
it, and now this is provided for, as we have seen, by recording the
mortgage. But if a thing is given in pledge, the pledgee must have
and keep possession of it.

The most important difference is this. A mortgagee may sell and
transfer his mortgage, and his transferee may transfer it again, and
BO on ; and when the debt is paid, the mortgagor reclaims it from
whomsoever has it then. But if a pledgee sells the pledge before the
debt is due, it is held that he is at once answerable to the pledger
for its full value, although the debt be not paid.

Some cases of this kind have been carried very far in New York.
It is held there, and on grounds which may perhaps suffice to
make it law everywhere, that if A lends money to B, and takes
stocks in pledge, A cannot sell these stocks and keep the proceeds,
and replace the stock and return it when the debt is paid. Ho can
do nothing but keep the stock ; and if he sells it, the pledgor may
recover at once its full value, and the pledgee will have no security
for his debt. In such a case, a pledgee, being sued, offered the testi-
mony of brokers and others to prove a uniform and established
usage in the city of New York thus to sell or use pledged stcck
until the debt was paid ; but the court said the usage was illegal,
and refused to receive the evidence.

It is certain that after the debt is due and payable, and after
demand if it be payable on demand, the pledgee may have a decree
in chancery for a sale of the pledge, or may sell it himself, provided
lie first gives a reasonable notice to the pledgor, and then sells it,
after a reasonable delay, in a proper manner, by a public sale at
auction ; and uses all reasonable precautions to get its value, as by
advertisement, &c. ; and does not buy it himself, directly or indi-
rectly ; and conducts himself in all respects honestly ; and then he
must account for the proceeds.

Sometimes the parties agree, when the pledge is given, or after-
wards, how the pledge shall bo treated, or how sold if not redeemed,
<fec. ; and such agreements, if fair and reasonable, would undoubt-
edly be binding on both parties.

It is agreed that negotiable paper is excepted from the common



FORMS OF MORTGAGES OF PERSONAL PROPERTY. 553

rule ; and the pledgee of that may sell or discount it before the
debt is due ; and must account for it, or its proceeds, if the debt is
paid and tho paper redeemed, or for the balance if he applies it to
payment of the debt.

A loan of stock is not like a pledge of stock, because it authorizes
the borrower to sell or pledge it, or use it in any way, at any time ;
but he must replace and return the same quantity of the same stock,
when it is called for. If he could not thus make use of the stock,
the loan of it would be of no benefit whatever to the borrower. But
he cannot thus use stock pledged to him, unless by a special agree-
ment which permits this use.

A pledgee, who receives a pledge to secure one or more specific
debts, cannot retain it to secure other and further debts of the
pledgor, unless with his consent. This consent may be express, or
implied from words or circumstances which show that such was the
understanding of the parties.

(181.)
A Mortgage of Personal Property.

Know all Men by these Presents, That I, (name of mortgagor-')

of the town of County of and State of

for and in consideration of dollars, to me in hand paid by

(name of mortgagee) of the town of County of

and State aforesaid, do sell and convey to the said (name of mortgagee) the

following goods and chattels, to wit (list or schedule of the articles, specifying them.
with sufficient distinctness to make it certain what they are) warranted free of incum-
brance, and against any adverse claims : Upon condition, that if the said
(name of the mortgagor) pay to the said (name of the mortgagee) dollars and

interest, in year , agreeably to a promissory note of this date, for that sum,

payable to the said (name of mortgagee) or order, on demand, with interest,

this deed shall be void, otherwise in full force and effect.

The aforesaid Parties Agree, That, until the condition of thi* instrument
is broken, the said property may remain in possession of the said (name of

mortgagor), but after condition broken the said (name of mortgagee) may at

his pleasure take and remove the same, and may enter into any building o* prem-
ises of the said (name of the mortgagor) for that purpose.

Witness our hands and seals this day of A. D.

18

(Signature of mortgagor.) (Seal.)

(Signature of mortgagee.) (Seal.)
Sealed and Delivered in Pretence of



554 MORTGAGES OF PERSONAL PROPERTY.

STATE OF J

[-88.

COUNTY OF )

Be it Kemembered, That on this day of

eighteen hundred and before me, the undersigned, Notary Public

in and for said County and State, duly commissioned and qualified, came

who is known to me to be the same person whose name is subscribed to
the foregoing instrument of writing, as party thereto, and he acknowledged the
same to be his act and deed, for the purpose therein mentioned.

In Testimony "Whereof I have hereunto set my hand and affixed my
official seal, at office, in the city of the day and year last aforesaid.

Notary Public.

(182.)
A M&rtgage of Personal Property f with Warranty.

Know all Men by these Presents, That I, (name and residence of

mortgagor) hi consideration of the sum of to me in hand paid

by ' (name and residence of mortgagee) the receipt whereof is hereby acknowl-
edged, have granted, bargained, and sold, and by these presents do grant, bargain,
and sell, unto the said (name of mortgagee) the following articles of personal

property; that is to say (list or schedule as in Form 181)

To Have and. to Hold, all and singular, the said goods and chattels, unto
the said (name of Vie mortgagee) and his executors, administrators, and assigns,
to his and their use forever. And I the said mortgagor for myself and for my
executors and administrators do covenant to and with the said mortgagee and with
his executors, administrators and assigns, that I am lawfully possessed of the said
goods and chattels, as of my own property ; that the same are free from all incum-
brances, and that I will, and my executors and administrators

shall, warrant and defend the same to the said mortgagee, his executors, adminis-
trators, and assigns, against the lawful claims and demands of all persons.

Provided Nevertheless, That if the said mortgagor, his executors or admin-
istrators, shall well and truly pay unto the said mortgagee, his executors, adminis-
trators, or assigns, the sum of dollars, in months
from the date hereof (or on a certain day, stating the day when the money is to be
paid) with interest at per cent, then this deed, as also a certain promissory
note bearing even date herewith, signed by the said mortgagor,
whereby he promises to pay the said mortgagee the said sum and interest at the
time aforesaid, shall both be void ; otherwise shall remain in full force and virtue.

And Provided Also, That until default by the said mortgagor, or his ex-
ecutors and administrators, in the performance of the condition aforesaid, or of some
part thereof, it shall and may be lawful for him or them to keep possession of the



FORMS OP MOETGAGES OF PERSONAL PROPERTY. 555

said granted property, and to use and enjoy the same ; but in case of such default,
or if the same or any part thereof shall be attached, at any time before payment as
aforesaid, by any other creditor or creditors of the said mortgagor, or if the said
mortgagor or his executors or administrators, shall attempt to sell the same, or any
part thereof, without notice to the said mortgagee or his executors, administrators,
or assigns, and without his or their assent to such sale in writing expressed, or shall
remove the same, or any part thereof, from the place in which they now are, with-
out such notice and assent, then it shall be lawful for the said mortgagee or his
executors, administrators, or assigns, to take immediate possession of the whole of
said granted property, to his and their own use.

In Testimony Whereof, I have hereunto set my hand and seal this
day of in the year of our Lord one thousand eight hundred

and sixty-

(Signature.) (Seal)

Executed and Delivered in Presence of



(183.)
A Mortgage of Personal Property , with a Power of Sale.

Know all Men by these Presents, That I, (name of mortgagor) of
the town (or city) of in the County of and State

of , in consideration of dollars, to me paid

by (name of mortgagee) of the town (or city) of in the

County of and State of the receipt whereof

is hereby acknowledged, do hereby grant, bargain and sell unto the said (name
of mortgagee) and his assigns, forever, the following goods and chattels, to wit (list
or schedule, as in Form 181)

To Have and to Hold, All and singular the said goods and chattels unto
the mortgagee herein, and his assigns, to their sole use and behoof forever. And
the mortgagor herein, for himself and for his heirs, executors and administrators,
does hereby covenant to and with the said mortgagee and his assigns, that said
mortgagor is lawfully possessed of the said goods and chattels, as of his own
property ; that the same are free from all incumbrances, and that he will warrant
and defend the same to him the said mortgagee and his assigns, against the lawful
claims and demands of all persons.

Provided, Nevertheless, that if the said mortgagor shall pay to the mortgagee,
on the day of in the year

the sum of dollars, then this mortgage is to be void, otherwise

to remain in full force and effect.

And Provided Further, That until default be made by the said mortgagor
in the performance of the condition aforesaid, it shall and may be lawful for him
to retain the possession of the said goods and chattels, and to use and enjoy the
37



556 MORTGAGES OF PERSONAL PROPERTY.

same ; but if the same or any part thereof shall be attached or claimed by any
other person or persons at any time before payment, or the said mortgagor or any
person or persons whatever, upon any pretence, shall attempt to carry off', conceal,
make way with, sell, or in any manner dispose of the same or any part thereof,
without the authority and permission of the said mortgagee or his executors,
administrators or assigns, in writing expressed, then it shall and may be lawful for
the said mortgagee with or without assistance, or his agent or attorney, or his
executors, administrators, or assigns, to take possession of said goods and chattels, by
entering upon any premises wherever the same may be, whether in this county or
State, or elsewhere, to and for the use of said mortgagee or his assigns. And if the
moneys hereby secured, or the matters to be done or performed, as above specified,
are not duly paid, done or performed at the time and according to the conditions
above set forth, then the said mortgagee or his attorney, or agent, or his ex-
ecutors, administrators or assigns, may, by virtue hereof, and without any suit or
process, immediately enter and take possession of said goods and chattels, and sell
and dispose of the same at public or private sale, and after satisfying the amount
due, and all expenses, the surplus, if any remain, shall be paid over to said mort-
gagor or his assigns. The exhibition of this mortgage shall be sufficient proof
that any person claiming to act for the mortgagee is duly made, constituted and
appointed agent and attorney to do whatever is above authorized.

In "Witness Wlicreofj The said mortgagor has hereunto set his hand and
seal this day of in the year of our Lord one

thousand eight hundred and

(Signature of mortgagor.) (Seal.)

Signed, Sealed and Delivered in Presence of

STATE OF , )

V88.

COUNTY )

This mortgage was acknowledged be/ore me, by (the

mortgagor), this day of A.D. 18



(184.)

Mortgage of Personal Property, with Power of Sale: another

Form.

Know all Men by these Presents, That I (name and residence

of mortgagor) in consideration of the sum of to me paid by

(name and residence of mortgagee) the receipt whereof is hereby acknowledged
have granted, bargained, and sold, and by these presents do grant, bargain, and
sell unto the said (name of mortgagee) the following named tnd described

articles of personal property ; that is to say (here follows the list or schedule and
description of the articles mortgaged, as in Form 181)



FORMS OF MORTGAGES OF PERSONAL PROPERTY. 557

To Have and to Hold All and singular, the said goods and chattels, unto
the said (name of mortgagee) and his executors, administrators, and assigns,

to his and their sole use forever. And I, the said mortgagor, for myself and my
executors and administrators, do covenant to and with the said mortgagee and his
executors, administrators, and assigns, that I am lawfully possessed of the said
goods and chattels, as of my own property : that the same are free from all incum-
brances ; and that I will, and my executors and administrators shall, warrant and
defend the same to the said mortgagee and his executors, administrators, and as-
signs, against the lawful claims and demands of all persons.

Provided Nevertheless, That if the said mortgagor or his executors, or
administrators, shall well and truly pay unto the said mortgagee or his executors,
administrators or assigns, the sum of then this deed, as also a

certain promissory note bearing even date herewith, signed by the said mortgagor,
whereby he promises to pay the said mortgagee the said sum and interest at the
time aforesaid, shall both be void, and otherwise they shall remain in full force and
virtue.

And Provided Also, That until default by the said mortgagor or his execu-
tors and administrators, in the performance of the condition aforesaid, or of some
part thereof, it shall and may be lawful for him or them to keep possession of the
said granted property, and to use and enjoy the same ; but in case of such default,
or if the same or any part thereof shall be attached at any time before payment as
aforesaid, by any other creditor or creditors of the said mortgagor, or if the said
mortgagor, his executors or administrators, shall attempt to sell the same or any
part thereof without notice to the said mortgagee or his executors, administrators, or
assigns, and without his or their assent to such sale in writing expressed ; or shall
remove the same, or any part thereof, from the place where they now are, without
such notice and assent, then it shall be lawful for the said mortgagee, his executors,
administrators, or assigns, to take immediate possession of the whole of said granted
property to his or their own use, and to sell and dispose of the whole, or of so
much of said granted property at public auction, as shall produce a sum of money
sufficient to pay and discharge the above-mentioned debt or liability, with interest,
and all costs and charges of keeping and selling the same, and all just and equitable
liens then existing thereon, without further notice or demand, except giving
days' notice of the time and place of said sale to said mortgagor or his legal repre-
sentatives ; and after the said debt or liability, with interest, costs, charges, and
liens, shall be so discharged and satisfied, the surplus of the money arising from
said sale, and the residue of said granted property, shall be paid and restored to
(aid mortgagor or hu legal representatives, discharged from all claim under this
mortgage.

In Testimony "Whereof, I, the said (name of mortgagor)

have hereunto set my hand and seal this day of

in the year of our Lord one thousand eight hundred and

(Signature.) (Seal.)

Executed and Delivered in Presence of



558 THE LAW OF PATENTS.

CHAPTER XXYTTT.

OF PA.TENT8.



What may be patented.

ANY new and useful art, machine, manufacture, or composition of
matter, or any new and useful improvement thereof not before
known or used by others in this country, and not at the time
patented or described in any printed publication in this or any for-
eign country.

And any new and original design for a manufacture, bust, statue,
alto relievo, or bass relief, or any new and original impression, orna-
ment, pattern, print, or picture to be placed on or worked into any
article of manufacture ; or any new and original shape or configura-
tion of any such article, the same not having been known or used
by others before the application for a patent.

Who is entitled to a Patent.

Any person, whether citizen or alien, may obtain a patent for any
invention or improvement made by him, and not before known.



Online LibraryTheophilus ParsonsLaws of business for all the states of the Union : with forms and directions for all transactions. And abstracts of the laws of all the states and territories on the various topics → online text (page 56 of 70)