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)  DIGEST OF BANKING AND COMMERCIAL LAWS Compiled Expressly for  THIS EDITION OF itre.  RAND-MCNALLY BANKERS DIRECTORY. AND  BANKERS' REGISTER BLUE BOOK BY  Those Prominent Lawyers Whose Names Appear at the Head of the Laws of Each State  2.  The Following States Have Put in Operation  THE NEGOTIABLE INSTRUMENTS LAW State  State  In Effect  Alabama ............................ Jan. Arizona ............................. Sep. Arkansas ........................... Apr. California. . . . . . . . . . . . . . . . . . . . . . . . . . . Colorado ............................ July Connecticut ......................... Apr. Delaware ........................... Jan. Dist. of Columbia .................... Jan. .............. Aug. Florida Hawaii::::::::::::::: .............. Apr. .......... Mar. Idaho ~ llinoi~: : : : : : : : : : : : : : : : : : : .......... July tdiana ............................. Apr. . ........... July owa. Kansa~· · · · · · · · · · · · · · ·:: ............ June Kentuck~·.·.::::::::::: .............. June Louisiana ........................... Aug. Maryland ........................... June Massachusetts ....................... Jan. Michigan ........................... Sep. Minnesota .......................... Apr. M~ssissippi .......................... July Missouri ............................ June iytontana ........................... Mar.  In Effect  Nebraska .................... , ...... Aug. Nevada ............................. May New Hampshire ..................... Jan. New Jersey ......................... July New Mexico .................~..... Mar. New York .......................... Oct. North Carolina ...................... Mar. North Dakota ....................... July Ohio ............................... Jan. Oklahoma ........................... July Oregon ............................. May Pennsylvania ........................ Sep. Philippines .......................... May Rhode Island ........................ July Sou th Carolina ...................... Mar. South Dakota ....................... July Tennessee ........................... May Utah ............................... July Vermont ............................ Feb. Virginia ............................ July Washington ......................... June W. Virginia ......................... Jan. Wisconsin ........................... May Wyoming ........................... Feb.  I, 1908  1, 190 l 22, 1913 1917 19, 1897 5, 1897 1, 1912 12, 1899 3, 1897 20, 1907 10, 1903 l, 1907 30, 1913 4, 1902 8, 1905 13, 1904 1, 1904 1, 1898 1, 1899 16, 1905 24, 1913 7, 1916 16, 1905 7, 1903  I. 1905 1, l, 4, 21, 1, 8, 1, l, 20, 19, 2, 31, 1, 25, 1, 16, 1, 13, 1, 7, 1, 15, 15,  1907 1910 1902 1907 1897 1899 1899 1903 1909 1899 190 l 1911 1899 1914 1913 1899 1899 1913 1898 1899 1908 1899 1905  For Tabulated Information concerning Interest Rates, Days of Grace and Statutes of Limitation see Page 7  J 845  117 Federal Reserve Bank of St. Louis Federal Reserve Bank of St. Louis  Dates of Regular Meetings of Legislatures  •  Alabama _______________ January, 1915. and every four years. Alaska _________________ A Territory. Arizona ________________ January ________________ Every odd year. Arkansas _______________ January ________________ Every odd year. California ______________ January ________________ Every odd year. Colorado _______________ January ________________ Every odd year. Connecticut ____________ January ________________ Every odd year. Delaware _______________ January ________________ Every odd year. District of Columbia _____ Under U.S. Government. Florida _________ _! _ _ _ _ _ _ _ April ___________________ Every odd year. Georgia ________________ June ___________________ Every year. Hawaii _________________ February _______________ Every odd year. Idaho __________________ January _________________ Every odd year. Illinois _________________ January ________________ Every odd year. Indiana ________________ January ________________ Every odd year. lowa ___________________ January ________________ Every odd year. Kansas _________________ January ________________ Every odd year. Kentucky _______________ January _________________ Every even year. Louisiana ______________ May ____________________ Every even year. Maine __________________ January ________________ Every odd year. Maryland ______________ January ________________ Every even year. Massachusetts __________ January ________________ Every year. Michigan _______________ January ________________ Every odd year. Minnesota ______________ January ________________ Every odd year. Mississippi- _____________ January ________________ Every even year. MissourL _______________ January ________________ Every odd year. Montana _______________ January ________________ Every odd year. Nebraska _______________ January ________________ Every odd year. Nevada ________________ January ________________ Every odd year. New Hampshire _________ January ________________ Every odd year. New Jersey _____________ January ________________ Every year. New Mexico ____________ January ________________ Every odd year. New York ______________ January ________________ Every year. North Carolina __________ January ________________ Every odd year. North Dakota ___________ January ________________ Every odd year. Ohio ___________________ January ________________ Every odd year. Oklahoma ______________ January ________________ Every odd year. Oregon _________________ January ________________ Every odd year. Pennsylvania ___________ January ________________ Every odd year. Rhode Island ___________ January ________________ Every year. South Carolina ____ ______ January ________________ Every year. South Dakota ___________ January ________________ Every odd year. Tennessee ______________ January _____________ ___ Every odd year. Texas __________________ January ____________ _: ___ Every odd year. Utah ___________________ January _______________ __Every odd year. Vermont _______________ January ________________ Every odd year. Virginia ________________ January ________________ Every even year. Washington ____________ January ________________ Every odd year. West Virginia __________ January ________________ Eyery odd year. Wisconsin _____________ January ________________ Every odd year. Wyoming ______________ January ________________ Every odd year. 1846  DIGEST OF BANKING AND COMMERCIAL LAWS COMPILED EXPRESSLY FOR EACH EDITION OF THE RAND-McNALLY BANKERS' DIRECTORY AND BANKERS REGISTER  by prominent Attorneys in each State of the United States and each province of Canada, the name of the compiler appearing at the head of each State. The Laws are entered alphabetically according to States. Provinces of Canada are listed last.  IMPORTANT:  The states in which the Uniform Negotiable Instruments Law is in effect are listed on the index to Laws. For Tabulated Information, for quick reference in regard to Interest Rates, Days of Grace, and Statutes of Limitations, see page 7. Aliens. "Foreigners who are, or may hereafter become, bona fide residents of this State, shall enjoy the same rights in respect to the possession, enjoyment, and inheritance of property as native-born citizens. "-Sec. 34, CoDSt. Alterations. When a negotiable instrument is materially altered without the assent of all the parties liable thereon, it is voided except as against a party who has himself made, authorized, or  SYNOPSIS OF  f:f;1~~~;i h~\!~t~r;~f~ri!fl~ !1t~~:~u::J i~~~or~:"fian:su~f':_h:i1d~r;  in due cour e, not a party to the alteration, he may enforce payment  THE LAWS OF ALABAMA  thereof according to its original tenor. :Material alterations consist of any changes in date; sum payable, interest on principal; time or place of payment; number and relation of parties; medium or currency in which payment is to be made. Arbitration. Courts are compelled by statute to make an order  RELATING TO  :i ~~~;g~ 0  BANKING AND COMMERCIAL USAGES. Prepared and Revised by RITTER ~ WYNN, A,tto.rneys at Law, Birmingham. (See Card 10 Attorneys List.) Acknowledgments or proof of real estate mstr:ull!ents _may be ta.ken before one of the following officers: 1st. \V1thm this State. judges of the supreme and circuit co1:1rts and the clerks of such courts, ~ha.ncellors, registers in chancery, Judges of the c~urts of proba~e. Justices of the peace, and notaries publ~c. The offiCI!)-1 should ~crt1fy that the person signing the conveyance 1s known to him and acknowledges that "being informed of the contents of the conveyance h,~ executed the same voluntarily on the day the same bears ~ate. 2 d. Outside of State-Judges and clerks of ll.nY fe~eral C0'l}.ft, Judges a:qd ~lerks of any court of record in any sta~e. notaries public, or coi:nnuss1oners appointed by the governor of this State; beyond the limits of ,the United States, by the judges of any court of record, mayor .or chie~ magistrate of any city, town or borough, or ~ounty, notaries 'PUl?hc. or by any diplomatic, consular, or comm~rc1al agen~ of the United States. Foreign officers must attach official seal which fact must be recited in body of certificate. For forms of deeds see "Conveyances.•• Actions. All ordinary suits at law are co=ence~ by su~ng out a. summons which must be accompanied by a co_mplamt _statmg ~he cause of action. Non-resident plaintiffs are. reqmred to g1v_e security for costs. ·when two or more persons are J0IDtly bound_b! Judgment, bond, or agreement, the obligation is several as well as Jomt. Actions on Account. Suits upon open accounts may b~ accompanied by itemized verified statement of the account, which when tiled with the summons and complaint may l:!e adJl'.!issible in evidence to Prove the account unless its correctness 1s demed under oath by defendant within the time allowed for pleading. Such statements lllUst be sworn to by a person having knowledg_e . of the correctne:55 of the account and must show that the amount 1s due and unpaid a_fter allowing all offsets and counter claims a_nd when sworn to <:mt~1dc State, must bear official seal of officer, which fact must be recited m the jurat. Acceptance. Unconditional promise in writing to '.1-ccept a ]?ill before or after drawn is good in favor of all who take 1t upon faith thereof for value. The holder may decline a qualified acceptance and treat the bill as dishonored; if he takes qualified acceptance drawer and endorsers are discharged. A Check is a bill of exchange on a bank ' payab e on demand; must be presented within reasonable time after issue and if dishonored, notice must be given or drawer is discharged to the extent of loss ~used by delay· does not operate to assign any part of drawer's funds in bank, and bank is not liable unless it accepts or cer~lfle . If holder has check certified the drawer and endorsers are discharged. The lllaking, uttering, drawing, or delivery of a check, ~aft, or order upon which payment is refused upon d)le p~esentatioJ? because of lack of funds shall be deemed prima far.1e evidence of mtent to de. . fraud and party may be convicted of a misdemeanor. The present negotiable instrument law of Alabama, _cims1strng of 196 sections went into force Ausugt 9, 1907. It prov1s1ons do_ not apply to in truments made prior thereto. The act . so materia!lY changes the law in this State as to suggest the propriety of special examination in any doubtful case. Administration of estates is had in the pro~at~ courts of decedents' residence. All claims must be presented w1thm twelve months after the same have accrued or within twelve months after the grant of letters testamentary or of administration, or eh,e harred.. In~ants and P~rsons of U11Sound mind have one year to present thl'.1r clauns after disabilities are removed. Administration of in!e tat,~ 1s granted, ls.t: To the husband or widow; 2d: The next of kin ~nt1tled to _share m the distt•ibution of the estate; 3d: 'l'be largest creditor of the 1ptestate residing within this State; 4th: Such other per~on a.<i the J~1dge_ of Pro1:>ate may appoint. There can be no apporntment until after expu·ation of fifteen davs from date of death. Preference mus_t be exercised within forty days or rights relinquished. If several entitled to admini ter men are preferred to women and whole blood ~o ha~f blood. Non-re ident executors and administrator ' may sue rn_ t?IS tate by recording in probate judge'• office copy of lett_ers and g1vmg bond to faithfully administer propet'ty. A non-re 1dent may be appointed administrator or executor of a deceased resident's estate. Atlldavits may be taken within the State befor~ every _judge or clerk of any court justices of the peace, and not,aries pubhc 01· any Other person invested by law with judicial functions. Out. ide the State and within the United States may be taken before any Judge or Clerk of federal court judge of any court of record in any state, n~tarles public and commissioners appointed by th~ governor. Fore1g~ officer taking affidavit must attach seal which fact must be recited in the jurat. Federal Reserve Bank of St. Louis  !~i  Po~:~~swr~ bhJt i~~rg~t~~e it1:sc~~~eaf~~t~;~~~b?o~ out consent of :parties, or good cause being shown therefor. The award of the arbitrators may be entered up and enforced as the judgment of the proper court whether made in a. pending suit or not. Arrest. There can be no arrest on civil process, except for contempt and in cases of alleged lunacy. A signments and In olvency. Every general assignment :w.ade by a debtor, or conveyance by a debtor of sub tantially all of his property in payment of a prior debt, by which a perference or priority of payment is given to one or more creditors. shall enure to the benefit of all the creditors equally, but this section shall not apply to mortgages, pledges, or pawns given to secure a debt contract,ed contemporaneously with the execution of the mortgage. All assignments by a debtor made with intent to hinder, delay, or defraud creditors are void. All deeds of assignment for the benefit of creditors shall, as soon as executed, be filed and recorded in the oflice of the judge of probate of the county in which the property is situated. Every judgment confessed, attachment procured by the debtor, or other disposition of property by which a debtor conveys all, or substantially all, of his property which is subject to execution in payment or as security for a debt shall be deemed a general assignment. Attachment process will issue upon affidavit by the creditor or his agent of the amount due and that the debtor absconds, or resides, out of the State, or secretes himself so that proce:;., cannot be served upon him, or is about to remove out of the State, or nas or is about to fraudulently dispose of his property, or fraudulently withholds money, chattels, or effects which are liable to the satisfaction of bis debts; plaintiff must give bond in double the amount claimed. Attachments will issue for the following demands: 1. To enforce the coUectlon of a debt, whether it be due or not, at the time the attachment is taken out. 2. For any moneyed demand, the amount of which can be certainly ascertained. 3. To recover damages for a breach of contract when the damages are not certain 01• liquidated. 4. When the action sounds in damages merely in falling cases. viz.: 1. Where defendant is a non-resident. 2. When the defendant ha'> absconded. 3. When defendant has secreted himself. 4. When defendant is about to remove from the State. 5. "\,Vhen defendant is about to remove his property from State. 6. When defendant is about to or has fraudulently disposed of his property or fraudulently withholds same. One non-resident may sue out an attachment against another non-re ident by making oath that the defendant has not sufficient property within the State of bis residence wherefrom to satisfy the debt. Attaclunents may be sued out in aid of a pending suit when any of the above grounds exist by making affidavit and executing bond. Garnishment process will issue in aid of attachment in all such cases. Garnishment may be dissolved by givinp: bond. In all cases of attachments sued out by a resident solely upon the ground that the defendant is a non-resident, the attachment may issue without giving bond, but if defendant appears and pleads, bond must be given or the attachment dismissed. Bank·. The national bank system is in force in this State uncontrolled in any \\-ay by State laws, except that the shares are subject to taxation a other personal property, but the bank is required to pay the tax. Thel'e is no provision of law for tbe establishment of banks of issue in this Sta1e. Banks of discount and deposit may be established under the general incorporation laws. Open depositors and savings depositors on equal footing in case of insolvency. Any banker who discounts a bill or note at a greater rate than 8 pel' cent cannot enforce the collection of same except a to the principal, and if any interest has been paid it must be deducted from the principal. Collateral'>. Receipt must be given for if demanded. Pledges or collateral· not transferable without transfer of the debt; after two days' notic'e in writing collaterals may be sold, by adverLising for 11ve days, at public outcry. Conditional Sales are good between the parties, but void where personal property delivered to vendee as against purchasers for a valuable consideration, mol't.gages and judgments creditor, without notice, wiless iu writing and recorded in the office of the probate judge. Conditional contracts of sales must be recorded in office of the Judge of l'l'obate of the county in which the property is located, to be valid again ·t subsequent purcha. er:,, judgment creditors, or mortgagees without notice, except in c-ount ies having a population of more than '0,000 when contract is for a less amount than $200.00. Conveyances. All persons of the age of twenty-one years, not laboring under some legal disability, may convey their real estate or any interest therein by instrument in writing signed by the grantor or bis agent duly authorized in writing, and att-ested by one witness, or if the grantor cannot write, by two witnes.<ies who are able to write and who sign their names as witnesses. If the grantor is not able to sign his name it must be written for him, and the words "his mark" writte1:1 over or against it. The person writing his name must sign as a w1tne s. A parol lease for less than one year is valid, A married  1847 Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-ALABAMA  1848  woman over eighteen years of a~e may convey dower in her husband's lands, and has generally the same rights as married women over twentyone years of age. The husband must join in any conveyance of the wife'. separate estate. Conveyances. to operate as notice. must be acknowledged and recorded. General acknowledgment must be signed to make instrument self-proving. Married women must acknowledge twice in the event the homestead is conveyed. Form of general acknowledgment is as follows: The State of Alabama, ............ County. I, ........................................ , a (style of officer), hereby certify that .......................... whose name is signed to the foregoing conveyance and who is known to me, acknowledged before me on this day. that, being informed of the contents of the conveyance, he executed the same voluntarily on the day the same bears date. Given under my hand and seal, this .......... day of .......... A.D. (Seal) .................... "l'io'ta.i-;;i>ubiic". No time is required within which conveyances shall be recorded. They operate as notices from date of delivery to probate judge for record. (See Acknowledgments.) They may be used as evidence without further proof of execution. Leasehold estates may be created to last not exceeding twenty years, but if longer void as to excess. A married woman must make the following acknowledgment to a conveyance of a homestead: State of ..........• County of ......... . I, ............ judge of ........ (or other officer) do hereby certify ~hat, on the .......... day of .•.......... , 19 .... , came before me the within named .................... , known to me (or made known to me) to be the wife of the within named ................ , who, being examined separate and apart from her husband touching her signature to the within .......... , acknowledged that she signed the same of her own free wrn and accord, and without fear, constraint, or threats on the part of her husband. In witness whereof, I hereto set, my hand and official seal this ............ day of ............ 19 ... .  · · · · · · · · · · · · ·comcia1· cha.racier.>· ···  Corporation to make following acknowledgment:  name as:::::::::::::::~~~~  wlio·se· ·oi the· saici corporation: ·is ·signed to the foregoing conveyance, and who is known to me, acknowledged before me on this day that. being Informed of the contents of the conveyance, he. as such officer, and with full authority, executed the same voluntarily for and as the act of said corporation. Oorporations. Every company, corporation, or association, not organized under the Jaws of Alabama, engaged in any other business than insurance, shall, before engaging in any business in this State, file in the office of the secretary of state, at the capitol in Montgomery, an instrument in writing under the seal of such company, corporation. or association, and signed officially by the president and secretary thereof, designating at least one known place of busine in this State, and an authorized agent residing thereat. If such corporation is engaged in any business of insurance, the statement must be tiled in the office of the insurance commissioner. If the agent is chan~ed, a new paper must be flied. Held not to apply to corporations ·elllng goods by travelling agent or sample. Foreign corporations transacting business in this State without complying with above provisions for each offense forfeit to the State 1.000, and any person acting as agent for foreign corporation that has not so complied, forfeits for each offense $500. All foreil:{n corporations doing business ln this State are required to pa. license fees ranging from $2_5 upwar~. according to capital. Foreign corporations can do no busmess until fees are paid and all contracts before then are void. Every foreign corporation required to procure from secretary of state a permit to do business in the State. This permit costs $10 per annum. Courts. Terms and jurisdiction. The supreme court. except to issue writs of injunction, habeas corpus, quo warranto, and other remedial and original writs necessary to its supervision of inferior courts, and impeachments of judicial officers, has only appellate jurisdiction and cases are tried on the record sent up. Court of appeals has final appellate jurisdiction in the following cases: 1. When the amount involved exclw;ive of interest and costs does not exceed the sum of Sl,000. 2. Of all misdemeanors, including the violation of town and city ordinances, bastardy, habeas corpus, and all felonies, where the puni hment has been fixed at twenty years or under. Circuit courts have unlimited common law jurisdiction when the matter or sum in controversy exceeds $50, and exclusive jurisdiction of libel, slander, assault and battery, and ejectment. The courts of chancery have exclusively equity jurisdiction. Regular terms of both twice a year in nearly every cotmty. Chancery courts have full equity powers. Justices of the peace have jurisdiction of all civil causes where the amount in controversy does not exceed $100 in value, except in cases of libel, slander. assault and battery, and ejectment. Names of all parUes, plaintiff and individual names of co-partners, must be set out in writs. Partnership may be sued in courts or law, in firm name, without setting forth names of co-partners but judgment in such suits bind only partnership's property, not that of individual partners. Tbe writ may be served upon any one of the partners; tbe judgment reaches the partnership property alone. Any one partner, or his personal representative, may .be sued alone on a partnership obligation. Non-residents must give security for costs when suit is co=enced or within such time thereafter as the court may direct. Money may be deposited with the clerk instead of sureties. Days ot Grace are abollshed. (See Negotiable Instruments.) Depositions. In cases at le.w, deposltJon!! may be tak~n or witnes.<ses who cannot be present at the trial m the followmg cases: When the witness Is a female; when the witness is too sick to attend cow·t; when the witness re ·ides more than 100 .miles from the place of trial or is ab ent from the 'tate; when tbe witness 1s atx?ut to leave the State and not return in time for the trial; when the witness Is the sole witness of the facts; when tbe witness is one of the officers designated in Code o. 40:30. Ailldavit must be made or one of the ~bove facts and of Lhe materiality of the witness. l\.lay be taken on mterrogatories by a commissioner appointed by the court for that purpo e. The commi<;Sioner may he any suitable person, need not be an officer. In equity suits, whNe witnesses live within 1_00 1;lliles or the place _of trial, depositions may be taken by _or~! exammat1on before the regISter, or a special examiner, or commissioner appointed for the purpose. Descent and Dhitributlon. The real estate of persons dying lntestate in this State, descends. subject to the payment of debts and the wido~·s dower as follows: First to the children of the inte tate or the,r descendant, per stirpos in equal parts. Next. to the parents, if they survive. in equal parts. If only one parent sur_vlve., then one-balf to such parent and one-half to the brothers and sisters of the deC'Elased or their descendants, and if there be no brothers and si_st~rs and their descendants, tben the whole estate shall go to the surviving If there are no children or their descenda}?ts, and no fath~r or mother. then to the brothers and sisters of the mtestate. or their descendants in equal pa.trs. lf there are none of the abo, e to take. then the whole to the husband or wife of the intestate. and if there be no husband or wife or none of the foregoing living. then to the next ot'kin in equal degree in equal parts. If there are no next of kin  it escheats to the State. The personal estate is distributed the same as the real estate, except that if there are no children the widow Is e.ntitled to alJ of the personal estate. If but one child she takes onehalf. If not more than four children to a child·s part and if more than four to one-fil'th. Posthumous children take as others. lJlegitimate children inherit from their mother. The husband upon the death of the wife is entitled to half of ber personal estate absolutely, and to the use of all of her real estate for life, unless he ha,;; been divested of all control over her estate by a degree of the chancery court. Damages recovered by personal representative for death of deceased are distributed according to statute of distribution and are exempt from payment of debts. Dower. Unless the wife has relinquished her right of dower in the manner provided by statute she i-s, upon the death of the husband, entitled to dower in all lands of which the husband was seized in fee during the marriage, or of which another was seized to his use or to which he had a perfect equity, having paid all the purchase money therefor. The dower interest is one-half when the husband leaves no lineal descendants, and one-third when the estate is insolvent or the husband leaves children or their descendants. If the wife has at the death of the husband a separate estate equal in value to her dower interest, she shall not have dower, and if of less value is only entitled to such amounts as with her estate will make the full value of the dower. 1  wi:f~:\~~i~:,~ndi~flb.~~ l~~~fet1t1etg~ a ;:;fegneq~t~. ril~1i~a~ the purchase money, or in which he has vesteci interest. in possession. reversion, or remainder, whether he has the entire estate, or is entitled to it in common with others. 2d: On personal property of the defendant (except things in action), whether he has t,be absolute title thereto, or the right only to the possession thereof for his own life, the life of another, or a less period. 3d: On an equity of redemption in either land or personal property, when any interest less than the absolute title is sold. The purchaser is subrogated to all the right of the defendant, and subject to all his disabilities. Writ of fleri facias is a lien only within the county in which it ls received by the officer, on lands and personalty of defendant subject to levy and sale. from the time only that the writ is received by sucl1 officer and continues as 0 ~~~fr:-"t~~. is r~i!~~%e<!iel\~-;~e1u~ g~:nsth~!~!itie1Jhg;\~e('~:~~eoftt:! court may be flied in the office of the judge of probate, which makes the judgment a lien within the county in which it is flied for ten years thereafter. Execution may be i ued on such judgment at any time.  g;i~:1:vi~  di:~~;  :::et~i:J~huige~yai~J~;?!/rf~~~n~~~~: t~n must be obtained from the circuit court for the sale of lands levied on under execution from a justice's court. No stay of execution in circuit court except by appeal, and supersedeas bond which delays collection until afilrmance by supreme court, and entails 10 per cent damages, with legal interest and costs. In justice's cow·t stay is granted on good security, below $20, thirty days over S20, sixty days. Exemptions. Homestead not exceeding 160 acres or $2,000 in value. Personal property to the amount of Sl ,000. Exemptions of personal property may be waived by instrument in writing except as to certain household furniture and provisions and wages to amoWl.t of $25,00 per month. Fraud. Obtaining money or goods on credit under false color or pretense of carrying on business, or under fal e representation of pecuniary condition, with intent to defraud, or bringing into the State money or goods so obtained, punished as larceny. Statute or Frauds. In the following cases, every agreement, or note or memo thereof, expressing the consideration, is in writing and signed by the party to be charged: 1st. Every agreement which bY its terms is not to be performed within one year from the making thereof. 2d. Every special promise by an executor or administrator to answer damages out of his own e tate. 3d. Every special promise to answer for the debt, default, or miscarriage of another. 4th. EverYf agreement, promise, or undertaking, made upon consideration o marriage, except mutual promises to marry. 5th. Every contrac1i for the sale of lands, tenements, or hereditaments, or of any interesli therein, except leases for a term of not longer than one year, unleSS the purchase money, or a portion thereof, be paid and the purchaser be put in possession by the seller. Garnishment may issue in any case after suit commenced upon affidavit of necessity and bond as in attachment cases, or after judgment, without bond. Holldays. The following are the legal holidays: Sunday, Chrfst-f mas Day, First day of January, 10th day of .January. 22nd day o February, Mardi Gras Day, 13th day of April, 26th day of Aprll, Tuesi day before Ash Wedne day, 3rd day of June, 4th day of July, Monday in September, 12th day of October. 2nd Tuesday in Octobefc 1  t1b~i~~J~~g~.a~~dth~ fl~~: d~~vir1}~~i~~/~~ ~1e·r~tt~~;~han· uary, or the ~2nd day of February, or the 13th day of April, or tlle 26th day of April, or the 3rd da.y of June. or the 4th day of July faflS on Sunday, the Monday following is the holiday. If any paper becoul8i due on a holiday, it must be taken as due on the next succeeding bUS • ness day. Husband and Wife. The wife has full legal capacity to contract as if she were sole, except that she can not alienate or encumber real estate without the husband joining in the conveyance, unless t ,d husband be in ane or bas abandoned her, or is a non-resident, or "' imprisoned under a conviction for crime for a period of two years or more, in which cases the wife may convey it as If she were sole. Husband and wife may contract with each other. but the wife can· not be surety for the husband. All of the property and the earnin~ of the wife are her separate estate, and are not liable for the debts ors the husband. The wife must sue and be sued alone for alJ matte relating to her separate e tate or contracts, and for all torts to be! person or property. The chancery court has power to relieve of aJlJ or all disabilities of coverture. Interest. Legal rate is 8 per cent, and same i~ allowed on all ope~ accounts, judgments, and decrees. Usury forfeits aJJ interests an any sums paid as interest on an usurious contract shall be credited on the principal. Judgments of courts of record are proved by a certified transcrit~ Judgment not a lien, but when a ceritfled tatemcnt thereof, made It the clerk of the court is died in the office of the probate Judge, becomes a. lien on all property of the defendant therein in the countYn which is subject to execution for ten years, to enforce which execut may issue at any time within that period. Execution received . 1s sheriff during life of defendant may be levied after his decease. or ah~ execution i · ·ued and levied if there has not been lapse of entire do as t-0 destroy lien originaJJy <.Teated. Above applies to exec_ut O e from circuit and chancery courts. An execution i ·ned by a Just!~ of the peace I a lien only from time of its levy. All agreemeut.~e t~ed'Fo!~e~~e~e~~t~nt~ as~1~h~ ~Jg:f:~~uj~~~!°c~t~ are so confirmed are void. • l\lechanlcs' Lien. Contractors, including subcontract0 mechanics, material men, and laborers have a lien on houses b Uw and the ground on which they stand upon complying with the 1a ·  bg~  g  trr:s  g~rb~  1ifi  p  t J)  a.  VI' 0  a:  II,  Cl  a1 tl  BANKING AND COMMERCIAL LAWS-ALASKA  -------------- - - - -  to aid on. led  r or  of tate  or and bY king ator mise  ;e~ tract rest Jess aser  ist-  Y of  ues• t1tst  ~beft Jan· r tb 8 falls co~ busi·  0 peil s and  ed oll  criPt• de bY ge, it uutY, utiOJl d bY r alia.q terJl'l  utioil8 ustice nts to roade ts are  c~~i  fe Ia"•  Lien for Rflnt. The landlords of any store house .. d,velllng house, or other build,ing shall have a lien on the goods, furniture and effects belonging to the· tenant, and sub-tenant for his rent, which shall be superior to alf other liens, except those for taxes, also on crops grown on rented premises for rent of the current year Limitations. Notes and stated accoun~s. six years; OP!3n accounts, three years; ·sealed instruments, real actions, ~nd motions against officers, ten years; judgments, twenty years; actions on the ~se, one Year. Bar c1·eated by statute can only b~ removed by a partial pay~ent, made on the contract before the bar 1s e:omplete, o~ by an une;ond1tional promise in writing. If anyone entitled t~ brmg an action, or make an entry on land, or defen~e founded on title to real estate, be at the time such right accrues, w1thm the age of twenty-one ye~rs, or insane or imprisoned on a criminal charge for a term less tha_n l\fe, he shall have three years, or the period allowed by law, for brmg!ng such action, if the period allowed by la~v be less t~an three years, a{_ter the termination of such disability to brmg such suit, eUi .. ~ut _no action can be commenced after twenty years. St_atutes of hnutat10n ap~ly to married women's separate estates. Actions founded on a promise in writing not under seal. or for trespass to. p~rso!I or property. mu~t be brought within six years. Statutes of l1.1mtat10n are m~de apphcable to equitable as well as legal demands, but do not run _agamst dlf'el't trusts. Any agreement or stipulati_on t_o sh~rten th~ period P:escr1b!3d by law for the bringing of any action is vmd. Actions seetnng relief on ~he ground of fraud where the statute created a bar, ~he cause of action begins to run upon discov~ry of t~e fraud by aggrieved party. No promise or acknowledgment 1s sufficient to remove the bar to a suit, except a partial payment made upon the contract by the_~arty sough:t to be charged before the bar is complete, or an uncond1t10nal Promtse in writing, signed by the party to be charged thereby.  Married Women. (See Husband and Wife.) l\tortgages are executed and acknowledged i!1 the same mann':lr. as deeds. May be foreclosed by bill in equity, or 1f there be a prov1~1on to that effect, by ale under power, upon ~uch default as auth?r1zed a s11;le. All mortga.ges are void against creditors or purchasers without, unless recorded. Mortgages operate ?,S notice fr9m d3:y ?f delivery to prohate judge for record. There 1s no fixed tune w1thm Which they shall be recorded. Homestead realt.y cannot be mortgaged or otherwise aliened without the voluntary s1~ature and_ ass~nt of Wife, evidenced by acknowledgment, upon _private exammatlon separate and apart from tile husband, and certified. All mortgages must be in writing signed by the mortgagor. PaYJ?ent of mortgage debt made before or after maturit,y of debt, revests m the mortgagor, or his assigns the title to the real or personal property mortgaged, if made in the iifetime of the mortgagor; if made after his death, such P_aYment revests title to personal property in the personal representative, and title to realty in the heirs, devises, or legatees of the mortgagor. Chattel mortgaaes must be in writing. When the mortgagor is sued by the mortgaaee for possession of the mortgaged property, he may defend by showing payment of the debt, or part payment and a tender of the balance, or may pay it after judgment. Ne~otiable Instruments. Must be payable in I?oney and must contam an unconditional promise to pay a sum certam on deruan~ or at a fixed or determinable future time; must be paya_hle t,o 8: '!pec1fied Person or bearer; may be in installments and C?ntam prov1s10n that on any default the whole shall become due; with exchange fixed _or current rate, interest, and attorney's fees for coll~ction: _may auth~ri2'.e sale of coUat,erals but cannot authorize confess10n of Judgmen~ 1f 1t reads, "I promise to pay" all signers are joint~y and severally h3:ble; may be payable at fixed time after date or sight, or afLer specified certain event but not upon a contingency; can waive exemption from execution; need not Rpecify value given nor place whe~e. drawn or Payable; if issued, accepted, or endorsed when over~~e 1t 1s payable on demand· may be payable to two or more payees Jomtly, or one or more of several payees or to the estate of a deceased perRon; absence or failure of consideration a defense against one not a holder in due course and partial failure a defense pro tanto. Of!.e not a party to inst,rument placing a signature in blank before delivery becoi:ues an enctorser. Every endorser engages that on due pre entment 1t shall be honored or that he wm pay the amount to holder or any subsequent endors_er who may be compelled to pay; n~ days of grace; ,yhen maturity falls on Sunday or holiday payment 1s due on. next busmess day; if due on Saturday must be presented on next busmess day, but if Payable on demand holder may present same befo:e noo~ on Saturday. Fraud and circumvention in procuring execution of mstrument is a defense against any holder. Powers of Attorney. Powers of attorney or other instruments confe1•ring authority to convey property must be proved or acknowledged in the same manner and must be received as evidence to the same extent as conveyances (see Conveyances~. an~ msut be executed as conveyances. A power of attorney to relmqu~ dower must be executed by husband and wife jointly. Her signature must be acknowledged as required for conveyances of land. Presentment. Is not necessary to charge one primariJr liable except in case of bank notes; if payable at special place ab1hty an~ Willingness to pay it there at maturity is equivalent to a tender: if not on demand it must be presented on day it falls due,_ if on demand then Within a reasonable time after its issue, exce(.!t a bill of ex<:ba:1ge IllUst be presented within reasonable time after its last negot1ation. Proba1e I~aw. A court of probate, con ! ting of on~ jud~e •. is established for earh county in the State. This court has Jurlsd1ct1~m of the probate of will of granting letters te. tamentary and of admmi. tration, and the repeal of revoration of the ,; of the se~tlem_e~lts of accounts of executors and administrators, of tbe sale ai:icl c)1Sp(?s1t10n ~f the real and personal property belonging to. and the d1stribut1on of, Also of the appointment, remo_val, and s~til!3ments In testates' estates. of guardians for minors and persons of unsound nu_n~. the bmdmg out of apprentice . the allotment ofdowor, and the part1t1on of land belonging to joint owners. A court of probate must be held at the court ~ou::;e of each county on the second Monday of each month, and the Judge may hold special or adjourned term whenever necessary, but such court mu t at all times be considered open. except on Sundays. It also keep a record of deeds, mortgages, and instruments entitled to record. Promi. ory Note. Must be unconditional promi e in_ ":fiting to Pay on demand or at fixed or determinable time a sum certain m money to order or bearer. and where drawn to maker's own order is not comPlete until endorsed by him; may be in installments. Protest. (See Negotiable In truments.) Protest of Foreign Bills. May be made by notary public or by a~y respertable resident of the place in pre. ence of t~vo or more_ credible Witnesses; bill of exchange does not operate to assign funds m hands of drawee and be is not liable unless he accepts. Replevln. Writ of replevin lies to recover property in custody of an officer of the law, and is limited to this. The action of detinue Iles to recover personal property in all other instances. Sales tn Bulk. Sales of all or substantially all of stock of merchandise except in regular course of trade is prima facie fraudulent ahnd void against creditors unless they are notified in writing prior to t e ale in manner prescribed by statute. Federal Reserve Bank of St. Louis  1849  Taxes become due on October 1st, and delinquent on the 31st of December of the year for whi~h they were levied, and the lands may be sold by certain proceedings in the probate court commencod in the month of March following. Rate of taxation is sixty-five per cent on each $100.00, for St,ate purposes. County may levy a like amount. Municipalities may levy a tax not to exceed one half of hove is based on a 60 per cent valuation. Counties one per cont. and Cities may vote additional levy. The purchaser or lands sold for delinquent taxes receives from the collector a cert.iflcate of purchase, containing a description of tbe propei·ty, the date ancl amount of assessment, taxes, cost , fees. etc., which after tlw <•,cpiration of two years from the date of the sale is exchang:eable fur a de<·d from the probate judge-which is prima facie evidence of title. Lands sold for taxes may he redeemed within two years l)y tho owner, mortgagce, or any person having a beneficial interest therein hy depositing with tho probate judge of the county in which the lands w!'l'e soltl, the amount of purchase money, with interest at 15 per cent per annum. and all taxes which have accrued subsequent to the sale, and interest thereon. at 8 per cent per annum; also all costs and char~es. WheneYer land is sold for State or county taxes, and from any caw,e such sale is invalid to pass title to purcb.a.ser, sale operates as transfer to purchaser of lien of slate or county, or the property for payment of taxes for which sold. All cotton factories or cot.ton mills which shall be constructed in this tate within five years shall be exempt from taxation for a period of ten years. pro,·ided such mills represent an investment of $50,000. \l'lll . All wills of real or personal property must he ln writing signed by the testator and declared his last wlll and testament in the presence of two witnesses who must sign as witnesses in the presence of testator and each other. Unwritten will of personal property valid only when the property does not exceed ;;oo ln value. and must be made during last sickne ·s by testator at his home. Persons present must be called on to witness that it Is testator's will and must be reduced to writing by one of the ,vtinesses within six <lays. 1\1inor ·o will effective over eighteen may make a will of personal property. until probated. May be contested in probate or chancery court.  SYNOPSIS OF  THE LAWS OF ALASKA RELATING TO  BANKING AND COMMERCIAL USAGES Prepared and Revised by 0. D. CocrrRAN, Attorney at Law, Nome. (See Card In Attorneys' List.) Acknowledgments. (See Deeds.) Actions. The distinction between actions at law and suits in equity and all forms of pleading heretofore existing in actions at law and suits in equity are abolished, and there iR but one form of a<'tion, denominated a civil action, fo1· the enforcement or protection of private rights and the redress or prevention of private wrongs. Every action must be prosecuted in the name of the real party in interest. except that an administrator or executor, a trustee of an express trust. or a person expre. sly authorized by statute may sue without joining with him the person for whose benefit the action is prosecut,ed; but t,he a.ssignment of a thing in action not arising out of contract is not authorized. Afflda,•it . An affidavit or depo ition taken out of Ala ·ka, otherwise than upon commi sion, must be authenticat.ed as follows: 1. It must be certiOed by a commissioner appointed by the governor of Alaska to take afUdavits and depositions in the state, territory, district or country where taken; or, 2. it must be certified by a judge of a court of record having a clerk and a seal to have been taken and subscribed before him at a time and place therein specified, and the existence of the court, the fact that such judge is a member thereof and the genuineness of his signature must be certified by the clerk of the court, under tho seal thereof. In all affidavits or depositions witness should speak in the first person. Aliens. Any alien who is a bona fide resident of the United States, or who has declared his intention to become a citizen. or whose rights are secured by treaty, may acquire and hold lands upon the same terms a a citizen. Any alien may acquire lands by inhcri(.ance or in the ordinary courne of ju tice in the collection of debts, and may acquire and enforce liens upon lands, but- such lands must be sold \vithin ten years. Any alien may also acquire and hold lots or parcels of land in any incorporated or platted city, t,own, or village, or in any mine or mining claim, but is not authorized io acquire title from the United States to any of the public lands. Arrest. The dl"fendant may be arrested in the following civil actions: 1. For the recovery of money or clamageR when the defendant is about to remove from the district with intent to defraud his creditors: for an injw•y to person: or for willfull:v injuring or wrongfully taking, detaining, or converting proporty. · 2. For a fine or penalty; or for money or property embezzled or fraudulently misapplied or converted to his own use by a public officer. or by an attorney, or by an officer or agent of a corporation in the course of his Federal Reserve Bank of St. Louis  B A.NKING AND COMMERCIAL LAWS-ALASKA  1850  employment as such, or by any agent, hroker, or other person in a fiduciary capacit~· or for mi. conduct or negle<'t in office or iu a profc ·sional employment. ~- To recover the po. session of personal property unjustly detained, when the propert)· or any part thereof ha.s been concealed, removed. or disposed of, so t.hat it cannot be found or taken by the marshal, and with intent that it should not be so found or taken, or wit,h the intent to deprive the plaintiff of the benefit thereof. 4. When the defendant has been guilty of fraud in contracting a debt, or incurring the obligation for which the action is brought, or in concealing or disposing of tbe property for the taking, detention, or conver:-ion of which the action is hrought. 5. ,vhen the defendant has removed or disposed of his property, ot· is about to do so. with intent to defraud his creditors. Attachment. The plaintiff, at the time of issuing the summons or afterwards, may have the propert,y of defendant attached in an action upon a contract, expres.-; or implied, for the direct payment of money, and, 1, which is not secured by mortgage, lien, or pledge upon real or personal property, or if so secured, when th security ha been rendered nugatory hy the act of the defendant; or, 2, against a nonresident defendant. The ~Tit issues whenever th plaintiff. or anyobe in his behalf. flies an affidavit showing that defendant is indebted to plaintiff (specifying the amount of indebtedness over and above all legal set-ofl's or counter-claims) upon a. contract. express or implied,  ~~~i~~  g~e~oR~!:;~~feri': o~~~!a'iet!~~;~~aY~~~~o~!! ;~p:ret;~ and that the sum for which attachment is asked is an actual, bona fide existing debt due and owing from plaintiff to defendant; and that the attachment is not sought nor the action prosecuted to hinder, delay, or defraud any creditor of the defendant. Plaintiff must also file an undertaking, with one or more sureties, in a sum not less than $100, and equal to the amount for which he demands judgment, conditioned that plaintiir will pay all co ts adjudged and all damages su tained by reason of the attachment if the same be wrongful or without sufficient cause, not exceeding the amount specified. Chattel lortgages. Any interest in personal property, capable of being tran. ferred. may be mortgages; but the mortgage is void as against creditors and subsequent purchasers and incumbrancers in good faith and for value, unless po ·ession of the property be delivered to and retained by the mortgager or the mortgage provide that the property may remain in the po. ession of the mortgagor and be accompanied by the affidavit of all the parties thereto that the same is made in good faith to secure the amount named therein, and without design to hinder, delay, or defraud creditors, and be acknbwledged and flied. The mortgage must be acknowledged by the mortgagor as a conveyance of real property is and be flied in the office of the recorder of the precinct where the mortgagor resides and of the precinct where the property is. Within thirty days next preceding the expiration of one year from the fl.ling, a true copy of the mortgage, with a verified statement of the interest of the mortgagee in the property at the time the same is renewed, must be filed in the office where the original was flied, and the lien is thereby extended another year. Chattel mortgages are foreclosed in the same manner as mortgages and liens upon real property. but a clause may be inserted in a mortgage authorizing the mar ·hal to execute the power of sale therein granted to the mortgagee. Corporations. Domestic Corporations. Three or more adult persons, bona fide residents of the district, may form a corporation for the following purpo ·es: To construct, own, and operate railroads. tramways, street railways, wagon roads, flumes, and telegraph and telephone lines in Alaska; to acquire, bold, and operate mines in Alaska; to carry on the fishing industry in Alaska and the waters adjacent and contiguous thereto; to construct and operate smelters, electric and other power and lighting plants, docks, wharves, elevators, warehouses, and hotels in Alaska; and to car!'y on trade, transport.ation, agriculture, lumbering, and manufacturing in Alaska. Foreign Corporations. Every corporation or joint stock company organized under the laws of the United States or any state or territory 'thin th distri·ct file 1·n the office of the b · · · e · s h aII • b e f or e d orng usmess Wl secretary of tho district and in the office of the clerk of the district court for the division wherein it intends to carry on business a duly t~a1;;:f11°~tmc~;e~fdi!1;f~Ja;!~~et!~: ~~  :u:~~~~<;;t<;,~~&~ct°f1;;"  0  If intestate leaYe no lineal descendants. neither hus1/and nor wife, nor father, such real property de ·rends in equal shares t-o his brothers and sisters, and to the issue of any deceased brother· or sister by right of representation; but if inte. tate leave a moth.,er, she takes an equal share with such brothers and sister. ·. 4. If intei,;tate leave no lineal descendants, neither husband nor wife. nor fatther, brother nor si ter. such real property descends to hi mother. to I the exclusion of the i. sue of deceased brothers and . isters. 5. If in testate leave no lineal descendants. neither husband nor wife, nor fa ~her, mother, brother, nor sister, such real property descends to his next of kin in equal degree, excepting that when there are t,wo or mi:ire collateral kindred in equal degree but claiming through difl'eren.t ancestors, those who claim through tho nearest ancesto!' are prert;1Ted. 6. If intestate leaYe one or more cbilclI'en, and the issue of cme or more decoac;ed children, and any of such ·urviving children·. die under age without havin~ been married, all such real property' that came to such deeeased child by inheritance from such inte tat,!l descends in equal shares to the other children of. uch intestate and tn the issue of any other chilclI'en who have died, by right of representat.~ou. But if all the other children of intestate be dead, and any of tl; em have left issue, . uch real property so inherited by such deceai~ed child descends to all the i sue of such other chilclI'en of the in1 estate ill equal .·bares, if they are in the same degree of kinclI'ed to such deceased child; otherwise, they take by right of rep re. entation. 7. If intestate leave no lineal descendants or kinclI'ed, such real property escheats to the United States. Dower and Curtesy. The wid,ow of every deceru ed person is entitled to dower, or the use during her natural life of one-third part in value of all the lands whereof her husband died seized of an estate  of ,~~i~~;c~an and his wife are seized in her right of any estate of inheritance in lands, the husband, on the death of his wife, holds tbe lands for his life as tenant thereof by the curtesy, although such 0 ~:go~ ~~;bee ~!~1~~~3 ~o~n~r;eeis on account of huE~~~nac~~ being a party or interested in the event of an action or proceedings, having been convicted of a crime, or bis opinions on matters of religious belief. Persons of unsound mind and chilclI'en under ten years of age who appear incapable of receiving just impression of the fact respecting which they are examined or of relating them truly may not be witne: es. An attorney may not, without bis client's consent, _be examined as to communications made by his client to him or his ad-nee thereon. A priest may not, without the consent of the person makin,s the confession, be examined as to any confession made to him in h1S professional capacity, in the course of discipline enjoined by the church to which he belongs. A physician or surgeon may not, against the objection of bis patient. be examined, in a civil action, or proceeding, as to information acquired in attending the patient which was neces· sary to enable him to prescribe or act. Executions. (See Judgment and Execution.) Executors and Administrators. ,Vhen a will is proven letters testamentary are issued to the persons therein named as executorsd, or to such of them as give notice of their acceptance of the trust an are qualified. Administration is granted as follows: 1. To the widolf or next of kin, or both, in the discretion of the court; 2. To one or more of t be principal creditor·; or, 3, to any other person competeednt and qualified whom the court may select. If deceased were a marri woman admini ·tration shall in any case be granted to tbe hu band: if qualified. and he apply therefor. Claims are paid in the following order: 1. Funeral charges. 2. Taxes due the United tates. 3. Expenses of last sickness. 4. All other taxes. 5. Debts preferred{ by the laws of the United States. 6. Debts which at the death o the deceased were a lien upon his property, in the order of the prioritY of the liens. 7. Debts due for wages earned within ninety days immediately preceding death of decedent. 8. All other claims. I r f Exemptions. 1. Earnings of judgment debtor, or persona se • vices rendered within sixty days next preceding the levy of executio~ or attachment, when necessary for the use of his family supporte in whole or in part by bis labor. 2. Books, pictures, and musica1 instruments owned by any person, to the value of $71?. 3. ece~rY wearing apparel owned by any person for the use of bllllSelf or farmlY, but watches or jewelry exceeding $100 in value are not exempt.  WM~  ~~~e~r~:n:~~~!u.~o ~:r~  0 6~h~~:·t~;J~.e.~c~~!W~~: ~~~eto~:;; !t!:::~n~in~f1aa~~r~: s~f fft~d ~~~ {I41[yecc'i~rsys aJ!ti°;{ytelir!f~ , or profcSi ion by which such person habitually earns his living, to tb 8 1 value of 500; also sufficient quantity of food to support such teaill, each year. if any, for six months; the word "team" being construed to include Deeds. A conveyance of lands, or of any estate or interest therein, not more than one yoke of oxen. or a span of horses or mules, or two may be made by deed, signed and sealed by the person from whom reindeer, or six dogs. 5. Tho following property, if owned by ~h8 the estate or interest is intended to pass, and acknowledged or proved, head of a family and in actual use or kept for use by and for his fam1lY, and recorded, without any other act or ceremony. A quit-claim deed or when being removed from one habitation to another on a changbe passes all the estate which the grantor could convey hy deed of 1:>argain of residence: Ten sheep, with one year's fleece or the yarn or clot o covenants are implied in any conveyance. The term and sale. manufactured therefrom; two cows and five swine; household goodS, "heirs," or other words of inheritance, not necessary to create or furniture, and utensils to the value of $300; also food sufllcient to convey an estate in fee simple. Husband and wife may, by their support such animals, if any, for six months, and provisions actuallY joint deed, convey the real estate of the wife, in like manner as she provided for family use and necessary for the support of such persond might do by her separate deed if she were unmarried. A married and family for six months. 6. The eat or pew occupied hy the hea woman residing in the district, joining her husband in a deed, must of a fan1ily or bis family in a place of public worship. 7. All propertd~ acknowledge that sbe executed such deed freely and voluntarily. o article, or the procee of any public or municipal corporation. Wben a married woman not residing in the district joins her husband derived from its sale or exchange, is exempt from execution on 8 in conveying real estate situate ln the district, the conveyance ha'> the price. its for recovered judgment afr~g~vl;~Fe~gfe~r si~:• :~:~iroi:ict,;:yif g~e Garnl hment. (See Attachment.) Homestead. The homestead of any family, or the proceeds district deeds must be executed in the presence of two witnesses, who uch homestead must be the actual abode of, thereof, is exempt. shall subscribe their names as such; and the person executing a deed and owned by, such family or some member thereof, and not exceed may acknowledge the execution before a judge, clerk of the district 1 2,500 in value nor exceed 160 acres in extent, if not located in a toW~ ~~tng~1~i~~~li~~t 'rli1o~set~~e~~~~i~\e~riic~~: ~~~:~ I'a°i;~l or city laid ofl' into blocks or lots; or if located in any such town 5 of acknowledgment and tbe true date of making the same under his city, one-fourth of an acre. This exemption does not apply to decree nd for the foreclosure of any mortga"'e property executed; but if tnde ha · owners of such homestead be married, the mortgage must be execute Depositions. Tht'l testimony of a witness, in the district, may be by husband and wife. taken by deposition, in an action, at any time after the service of Interest. The legal rate of interest is 8 per cent, but on contrac$ the i;ununons or the appearance of the defendant, and in a special interest at the rate of 12 per cent may be charged by express agre~ proceeding after a question of fact has arisen, when, 1, the witness is ment of the parties. If usurious interest bas been received or collec~e n a.wiptna.erssty;stroestfdeenacceti1.osnmoorreprtobcaenedolnneg,hunby~~~ ~fe~s1~~J:a[J!;pl!cetho! the party paying the same, or his legal representatives, may, by act10 brought within two years, recover double the amount of such inte~e~~ trial; 3, the witne is about to go more than one hunclI'ed miles be:vond If it is a certained in any action upon contract that an unauthonzeved the place of trial; 4, tbe witness is too infirm to attend the trial; or, 5, rate of intere •t bas been contracted for, judgment must be render d the testimony is required upon a. motion, or in any other case where th against the defendant for the amount due, without interest, an r ;,g~aie~i~~~t~pao~~ie~t~~ts ihoet Jf,.,~*if.dmay be taken by against the plaintiff for costs. If the rate contracted for is 8 Ptbee upon five davs' notice to the other deposl·t1·on, by comm,·ssi·on i"~ued, cent or le , the debtor may also agree to pay the taxes upon J "" credit, or mortgage. debt, ~~i t<;:;~~n is~ci/1T ~~~tf E!~Yco~~\~ c!e~~~~~h!g~~~d\~o~t:icth1 Judgment and Execution. A judgment is docketed 1nune· agree, to a judge, justice of the peace, notary public, or clerk'. of a dlately after entry. At any time thereafter while execution mffia~ court selected by the officer i. suing the commission. issue a certified transcript of the docket may be flied in the o c The amount of the commissioner's fees should be indorsed upon the of the recorder of any recording district, and from the date of docke~ deposition. ing a judgment or transcript thereof the judgment is a lien upo i Descent and DI trtbutlon. The real property of an Intestate all the real property of the defendant within the recording dist:j~ descends as follows: 1. In equal shares to his or her children and 0 1 r~e~~:ricr~~i~~h~ii°e 1?~~e~g, e ~c~t~h i:::y °l~e~rt1Fv;~d!x!g~tton 01!;!~iftech~t~~{it~\~:~ t1~f:~~at~rn~e!ih~ f? tt~~ei~:~o0 issues within ten years the lien expires, but is renewed if afterwar&; to all his or her other lineal descendants; and if all such descendants leave is given to issue execution and a transcript or the docket 0 are in the same degree of kindred to the intestate, they take equally; th~~~~~ii~~~~t;~:~~haib!;;ct~~ir,;,ithin five years from the en!rY otherwise, by representation. 2. If intestate leave no lineal descendof the judgment ,and thereafter on order of the court made on motioJJ ~:r-inn~~s~ii;le~v~f ~~t~ret°u~~ t~~~~t ~ow:~r tge~efa~~!~.ant  :::i:  ::~:h:s  tg~  l{~~fi;f;t t~:  °  ~l  ~Jil  ii  BANKING AND COMMERCIAL LAWS-ARIZONA  ,  eds of, ed wll  or ees tM ted  of the party in whose favor the jude;mont was given. Such motion must be sub cribed and verified as a complaint, and summons must be served upon the judgment debtor or his representatives, to which he or they may demur or answer. The order made must be dock~ed as a judgment. Execution may be agai?5t the property of ~he Judgment debtor his person. or for the delivery of the possession of real or personal property, or such delivery with damages. ExecuLion from the district court is returnable within sixty days: from the commissioner's court within thirty days. Until a levy property is not affected by the execution. Licenses. (See Taxes.) Liens. Every mechanic, artisan, machinist. builder, contractor. lumber merchant, laborer, teamster, dra;vman, and. other per on performing labor upon or furnishing material of any kmd to be used in ~be construction, development. alte_ration. or rep~ir. eit.~er in whole or m part, of any building, wharf, bridge, flume, ditch, mme, tunnel, fence, machinery, or aqueduct, or any structure or superstr~cture, has a lien upon the same for the work or labor done or material furnished at the instance of the owner of the building or other improvem~nt or his agent; and every contractor, sub-contra~tor, architee:t, builder, or other person having charge of tho work, m whole or m Part, is, for this purpose, deemed the agent of the owner. Limitations. Civil actions must be. commenced wiphip. the following periods after the cause of action accrued: \V1thm ~en Years-action for the recovery of real property, or the. po session thereof; upon a judgment or ~ec-i:ee of any .court of th? Umted States, or of any state or territory w1tbm the Umted States, upon a sealed instrument. Within six years-action upon a ~ontract or liability, express or implied, except judgment or sealed mstrument.: upon a liability created by statute, other than a ~enalty o_r _forfe1t1~.r~: tor Waste or trespass upon real property; for takmg. ~etammg, or mJurmg Personal property including an action for the specific recovery thereof. Within three years-action against a marshal, 9oro?er, oi; consta~le, up?n a liability incurred by the doing of an act m h.1 official. capac.1ty or m virtue of his office, or by the omission of an offlc1a.l duty, mcludmg the. non-payment of money coUected upon execution, but n<?t an action for an escape; action upon a. statute f<_>r penalty or forfeiture, where the action is given to the party aggr1ev~d. or .to such .Party apd the United States, except the statute prescribe a different limitat10n. Within two years-action for libel, slander, assault, battery, 8 !3duct1on, false imprisonment, or for any injury to the person or r1~hts of another not arising on contract; up~m .a statute for a f?r~ fe1ture of penalty to the United States. Within one year--act10n aga:inst the marshal or other officer for the escape of a person arre~ted or imprisoned on civil process; upon a statute for the penalty given in Whole or in part to the person who will prosecute, pu~ if not commenced within one year by private party may be within two years by the United States. M~Tried ,vomen. The property aJ?,d pecuniary rights of ev:ery marr1ed woman at the time of marriage, or afterwards acquired by gift, devise, or inheritance. or by her own labor, are not subject to the debts or contracts of her husband, and she may manage, sell, convey, or devise the same by will to the same e~tent an.d in the s~me ,manner that her husband can property belongmg to. him. For civil mjuries damages may be recovered from a married woman alone, and her husband is not responsible therefor. Contracts may be made by a wife and liabilities incurred, and the same enforced by or against her to the same extent and in the same manner as if 8 ~f! :Vere unmarried. All laws which impose or recognize civil disab1ht1es upon a wife which do not exist as to the husband are repealed. Wife may record list of her property and such list is prima facie ~Vidence of her separate ownership, and property not. so registered either husband is deemed prima. facie the property of the husband. nor Wife is liable for the debts or liabilities of the other incurred before marriage. Husband and wife may make co~veyances and transfers and create liens between themselves, and either may constitute the other his or her attorney in fact. A woman becomes of age at twenty-one or upon being married according to law. 1:ortgages are executed, ackn<_>w~edg~d. and recorded Mortgages. o covenant 1s rmphod for the payin the same manner as deeds. ment of the sum intended to be secured. Record of assign.mei:it is not notice to the mortgagor, his heirs, or personal representatives. Mortgage may be discharged by entry in margin of record signed by mortgagee or his personal representative or assignee and witnessed by the commissioner or deputy, or by certificate executed and ackno~ledged as other conveyanc~s. l~oreclosure is by action of an equitable nature in which a deficiency Judgment may be had. Notes and Bills of Exchange. On all bills of exchange and all negotiable promissory notes, orders, and drafts payable at a future day certain within the district, grace is allowed: but grace is not allowed on bills of exchange, notes, or drafts, payable at sight or on demand. Records. An unrecorded conveyance of r~al propei:ty is void as against any subsequent innocent purchaser m good faith and for a. Valuable consideration whose conveyance is firs~ dulY: ri::corded. Ab commissioner is ex-officio recorder of a recordmg d1str1ct, tile oundarie of which are fixed by the cour~. Conveyances of la~qs n,ot in any recording district are recorded with the clerk of that d1v1s1on of the district court within the limits of which such lands are situated. Replevin. The plaintifl', at any time after the commencement oj f an action to recover the possession of personal property and before Udgment may claim the immediate delivery of such property upon filing an affidavit showing that he is the owner of the same or entitled to the possession thereof· that the property is unlawfully det.ained by defendant· the alleged' cause of detention; that the same has not b e.en taken for a tax assessment or fine, pursuant to a statute, or seized under an execution or attachment against the property of the plaintiff; or, if so seized, that it is exempt; and the actual value of the property. Service. (See Actions.) Supplementary Proceedings. (See Judgment and Execution.) Taxes. Every person or corporation prosecuting or attempting to prosecute any of the following lines of business within the district Illust first apply for and obtain license so to do from the district court or a subdivision thereof, and pay per annum for such license for the respective lines of trade and business as foUows: Salmon eanneries, 4 cents per case; salmon salteries, 10 cents per barrel; fis~ oil works, 10 cents per barrel; fertilizer works, 20 cents per t.on; freight and passenger transportation lines, propelled by mechamcal Power on inland waters and ocean and coastwise vessels doing local business for hire. Sl per ton on net tonnage; railroads, SlO0 per mile; tramways, $10 per mile; saw-mills, 10 cents per thousand feet on lumber sawed; quartz mills, $3 per stamp: mercantile establlsh!Pents and manufactories doing a business of under $4,000 per annum, •10, and in proportion to the amount of business done to $500 for establishments doing a business of $100,000 per annum; in other lines ~f trade and business the amount is fixed for each and ranges from .10 to 500. Wills. Every person of twenty-one years of age, of sound mind tnay dispose of all his or her property by will, saving a widow's dower a.nd a husband's rights as tenant by tb-:i curtesy. Will must be In Federal Reserve Bank of St. Louis  1851  writing, signed by the testator, or under his direcUon, in his presence. and attested by two or more competent witnesses subscribing their names in the presence of the testator. A will by an unmarried person is revoked by bis subsequent marriage. Children or descendants of children not named or provided for in the will take as if testator had died intestate. A mariner at sea or soldier in military service may dispose of his personal property as at common law. I>roof of nuncupative will must be made within six months, and the words or their substance reduced to writing within thirty days after they are spoken . A person owning property in, but not an inhabitant of. the district may devise or bequeath the same according to the laws of his domicile. If such will be probated without the district., copies or the will and the probate thereof, certified by the clerk of the court in which it was probated, with the seal of the court affixed thereto, if there be a sea together with a certificate of the chief judge or presiding magistrate, that the certificate is in due form, and made by the clerk or othet· person having tho legal custody of the record, may be recorded, admitted in evidence, or contested and annulled as if executed and proved within the district.  SYNOPSIS OF  THE LAWS OF ARIZONA RELATING TO  BANKING AND COMMERCIAL USAGES Revised by C. B.  & GERARD T. WALL, Attorneys at Law. Flagstaff, Arizona.  WILSON  Accounts. When stated draw interest: when action is upon itemized account and affidavit of party, his agent or attorney is attached, stating that such "account is, within afflant's knowledge, just and true. that it is due, and that all just and lawful offsets, claimants. and credits have been allowed," is p-rima facie evidence, unless one day before trial, defendant files written denial of any item under oath. Acknowledgments. The form of an ordinary certificate of acknowledgment shall be substantially as follows:  "~:i~t~f  ~{.i~~~~'. ................................ } es This instrument was acknowledged before me this ........ day of .......... A. D ........... , by (if by a natural person or persons here insert name or names; if by a person acting in a representative or official capacity, or as attorney in fact, then insert name of person as executor, attorney in fact, or other capacity; if by an officer or officers of a corporation, then insert name or names of such officer or officers as the president or other officer of such corporation, naming it). A .................... B ................... . (Or other officer) .. Notar~ ~ublic. . (My comm1ss1on expires .................... ) Every instrument affecting real property in this state executed, acknowledged and certified in any other state or territory in accordance with the laws of such state or territory, shall be valid and entitled to record as if executed in accordance with the laws of this state. Actions. Distinction in forms between law and equity are abolished. Pleadings are: Complaint and answer, and in some cases a reply. Administration of E. tates. Lie in Superior Court. No public adminL<;trator. Where person dies intestate letters shall issue. Affidavits. J\'.Iay be taken before any officer authorized to take acknowledgments. Aliens. Unless rights are secured • creaty cannot hold land in the state, may acquire by inheritance, or in ordinary course of justice in the collection of debts; may acquire liens on real estate, may lend money and secure same on real estate, but title so acquired must be sold within five years; may acquire patented mines and hold stock in domestic corporation owning unpatented mines. The laws provide that the laws of the state pertaining to aliens shall not be construed as to conflict in any manner with any rights existing under and by virtue of any treaty of the United States with any other country. Appeals, Appeals are allowed from justice or peace to superior ~i::e !!1mg~f~v~:~ ~nf20io~ ot~~~rior court to supreme court Arbitration. There are statutory provisions which are not exclusive of the common law arbitration. Arrest. Abolished in civil cases, debtor fraudulently removing property out of territory or concealing it may be prosecuted criminally. Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-ARIZONA  1852  - - - - - ~ - - - - - -- -- - - - - - -- - - - -That-I be published for six days in some newspaper in the county where the principal business is located. Proof of publication must be filed 1i:1h~adi~!~in~~1::i~~t~f ~ES~b~r~~~?<;;onet~~~t~~ ~.fct~e~r with the Corporation Commission. Corporations to endure for is payable in t~is Territory, and that the payment of the same bas not twenty-five year . Corporation must file in office of Corporation Combeen fully secured by mortgage. lien, or pledge of per onal property, mission an appointment of agent who is a bona fide resident of this or if originally so secured, that such security bas, without any act of state for three years prior thereto, on whom all notices and process, including summons, may be served and constitutes personal service. ~1!fies~!~f?;1 t~e ~~~cl~: Charges for incorporation: Recorder's fees, 20 cents folio. Recorder's is due to the plaintiff over and above all legal set-offs or counter-claims, fees, certified copy. 20 cents folio. Recorder's fees certificate to copy. and that demand has been made for the payment of amount due; or, 75 cents. Corporation Commission's fees, filing cost copy, $10. Printers' fees per inch. publishing articles six days, 80 cents. Corpo!cte;~ttd~~t~nt~~t si!i!~di~bj~~ ~~gi~~ii~ies~;!~ga~:f~i~~:1!.111~;~1 ration Commission"s fees, filing proof, publishing $3,00. Corporation set-offs and counter-claims, and that defendant is a non-resident of Commission's fees. filing appointment of agent, SS.00. Where charter this Territory or ls a foreign corporation doing business in this Terriprovides assessments may be levied on shares to par value (1907). tory; or, 3. That an action is pending between the parties, and that Corporations, Foreign. Before It can transact business it must defendant is about to remove his property beyond the jurisdiction of file certified copy of Articles with Corporation Commission and the court to avoid payment of judgment; and, 4. That the attachcounty recorder in county of principal placP of business, also an ment Is not sought for a wrongful or malicious purpose, and that the appointment of agent upon whom a service personal to the corporation action is not prosecuted to hinder or delay any creditor of defendant. may be made. 5. No such att.achment shall issue until suit has been duly instituted, but lt may be issued in a proper case either at the commencement of Corporations, Insurance. May be organized under provision 0 0 peculiarly applicable to insurance companies. !f~~~~h ~1!!f1/!~Jb l~~~c1u:unJ!es;:~rt11:d1fa~1~ui, intent to defraud; no final judgment shall be rendered until such debt CorJlorations, Railroad. Are organized under a statute espeor demand shall become due. Writ may issue at or after action began cially providing for them. upon plaintill' or some one in his behalf filing the affidavit, and upon filing a bond with two sureties in an amount equal to amount sued for. 8~~~~~:n~~ss t~~k~ Tr~~ie~~r!io~r~h~rrn:c!ft~ Sureties can be compelled to justify upon notice. When more than valid. except as between the parties thereto, unt.11 the same is regularly entered upon the books of the company, so as to show the names of the t~\1~\~1n1~~~ev~i~eo¥.1:i~e take priority accordperson by whom and to whom the transfer is made; the number of their designation of the shares, and the date of the transfer. Banks-Savings and Loan. May be incorporated to loan and invest property. May hold lot and building in which business is Costs. Plaintiffs who are non-residents, or those who own no carried on to value of $100.000; such as may accumulate on good property upon which execution may be levied, are required to give faith loans and such personal property as may be required in transsecurity for, within ten days after order made ; bonds for, must acting its business. To purchasP and convey evidence of debt except authorize judgment to be entered against sureties. national, territorial, and municipal bonds must have a capital of Court . Are the Supreme C'ourt of the State, the U.S. district court $100.000. Married women and minors may transact business with for the District of Arizona; one superior court for each County, except such banks. Are required to have license and are examined by the in counties having over certain population in which event two superior bank examiner. Provisions are made for the contents of the charter. courts. justices of the peace, police courts, recorders of cities. The superior court of the several counties is a court of general jurisdiction, both civil and criminal. It has both original and appellate jurisdiction. A!!~~a':in:ar %~~eta te~~t}~~~:. in1~~1f ~i\i~~~eJ~;Pi!1e~!a!~j Its ori~inal jurisdiction extends to all civil cases where the amount without releasing others. (See Holdings.) involved exceeds S200 exclusive of interest, and in all cases involving Bonds. Any standard surety company. organized under laws of the title to or possflssion of real estate. Justice courts have general Unlted tates or of any state, may execute bonds in judicial proceedjurisdiction when amount in controversy does not exceed $200.00, Ing within the state when they have complied with license laws. except when title to real estate is involved. (See Jurisdiction.) (Sfle Guaranty Companies.) Creditors' Bills. o statutory provisions. Chattel lUortgage. To be valid against others than the parties Days of Grace. None. thereto, chattel mortgage must sot out the residence of the mortgagor Depositions. May now be taken either upon oral examination, and the mortgagee, the rate of interest to be paid and time and place of and cross-examination or upon written interrogatories and cross payment of the debt secured, and be accompanied by the affidavit of interrogatories, as is generally provided. both mortgagor and mortgagee that the mortgage is bona and De cent and Di trlbutlon. (See Savings Banks.) The law of made without design to defraud or delay creditors. Immediate community property prevails. The separate estate of an intestate, delivery of the mortgaged property must be made to the mortgagee when be or she hall die leaving surviving no husband' or wife, shall and the change of po ·ession must be actual and continued, unless the descend as provided. \'Vhen an intestate leaves surviving a wife or mortgage or a true copy thereof shall be forthwith deposited and filed husband another method is provided. Children of the intestate in the office of the recorder of the county where the property shall brothers, sisters, uncles and aunts, take per capita. All property then be situated. Removal sale, or other dii;position of mortgaged property without consent of mortgagee entitles mortgagee to immebelonging to the community estate of the husband and wife shall go diate possession of it, and such removal, transfer, or sale, or subsequent to the survivor, if the deceased spouse have no child or children; if the deceased have a child or children, his or her surviving spouse will ~~c::ie~~.::JetJs c~rw~i~tg;g~afle~~in~~!g~i~~J'~~~~~~rh~ take one-half, and the other half goe to such child or children. The mortgage in such other county. Chattel mortgage may be forecommunity property always passes charged with the debts against closed in justice court if amount of debt does not exceed $300; otherit. Intermarriage between man and woman to whom a child or wise in superior court. Mortgagee may obtain possession of property children had before been born, and recognition by the father of such on default and sell after notice which must be served on owner. cbild or children legitimizes the child or children. Bastards inherit pon stock of goods, wares, and merchandise with continued posse c;ion in frbm the mother and transmit estates as if legitimate. The statute provides for the adoption of heirs. (See Dower, Husband and Wife, 1 ~:iged~ ~nd ~~pc~~!rfrn~Jeta b~t~o~1':~!~or~~il.tnal must be Homestead.) Dower. Dower is abolished. CJa1Jn and Delivery. (See Replevin.) Evidence. The common law rules have not been codified. Parties Clollaterals. No statutory provlslons-<:ommon law prevails. may be examined and the ot,her side not concluded thereby. Statutes Community Property. (See Conveyances.) of other states and territories purporting to be printed under authority may be read. o one is Incompetent to testify because of religious Conditional Sales. Where title remains in vendor until purchase 1 0 0 price Is paid, void as to persons not parties thereto, and persons ~:~ Jopi~c;e~1~~~0~%i~\ !1r~~i;~fe~s ~a~r;!t~~!l a~~~~f~ay ~~d~; without notice, unless subscribed, acknowledged, and flied with inspection or copy of documents. county recorder. Executions. Upon a judgment of superior court, executions may Contracts. (See Bills and Notes.) One or more obligors on a be issued to any county. Lien of date from levy, and if on real propjoint or joint and several instrument may be released without releasing erty. the description is endor ed on execution and filed with county the others, and may be sued eparately under certain conditions withrecorder. A range levy may be made upon all of stock under a certain out releasing the others. Married women may contract as if sole. brand in same manner a.c; upon real estate. (See Judgment, Liens.> Conveyances. Conveyances of estate In lands for term more than Proceeding supplemental to execution-when returned unsatisfied one year shall be by instrum·e nt in writing subscribed by party making it, or his agent, duly authorized thereto by writing. A conveyan<'e is ~~:dt;~~~~t~~tit~idD~~ ~Ys~;te:r!e~~i~ i~~t~~u~t;ninrsc~:<;1~~~ not effectual against creditors or bona fide purchasers unless recorded Third parties may, upon affidavit, be required to surrender property. in recorder's office in county where land is situate. A conveyan<'e Court or judge may order suit brought to determine the denial ·of purporting to convey a greater estate than the grantor has passes only owning or of having property. the estate t,hat be actually ha . A general grant or devise p~ -:es the Exemption . Every person who is the bead of a family, and fee unless expressly 11.m.ited to a less estate. All deeds to realty must who.c:ie family re ide within this state, may hold as a homestead, be signed by both husband and wife except a to unpatented mining exempt from attachment, execution and forced sale, · real property claims. Deeds must be signed and must be acknowledged before to be selected by him or her, which hornestcarl shall be in one comsome officer authorized to take acknowledgment, and properly cerpact body, not to exceed in value four thousand dollars, upon filing tltled by him to entitle same to regist,ration. The use of the word affidavit designating such homestead in the Office of the County "grant" or ''convey" implies the following covenants and none Recorder on county where property I situated. Such homestead other: 1. That previous to the time of the execution of the conexempt from date of 0linl? said affidavit. The following property veyance the grantor has not conveyed the same e. tate, or any right, shall be exempt from execution, attachment, and sale on any process title or interest therein, to any person other than the grantee. 2. i. sued from any court: 1 The family bible. 2. A seat or pew in That suC'h e. tate is at . the time of the execution of such convevance any hou. e or place of public worship. 3. A lot, in any burial ground. free from incumbrances. l\larried women seventeen years o·r age 4. ece ary household, table and kitchen furniture, including viz: and upward may convey their own lands without being joined by 5. The tools or implements of a mechanic or artisan necessary to their husbands. (See Acknowledgment, Dower, Husband and Wife, carry on his trade , etc. 6. The sewing machine and implements Homestead.) of a seamstre. · actually used in pursuing her vocation. 7. One Corporation Commission, organized under Chapter 90, First watch, one sewing machine. one type·w riting machine, and one biSession, Laws 1912. Has general supervision of corporations. cycle. 7a. Five milch cows. 8. The camping outfit of every Corporations in General. Any number of persons may become pro pector in this tate, including bis mining tools, saddles and burros. Incorporated for the transaction of any lawfUI bu. iness. Before com9. The farming utensils and Implements of husbandry of the debtor, men<'ing any busines,c:;, they mu~t adopt articles of incorporation etc. 10. Poultry not exceeding in value twenty-five dollars. 11. which shall be signed and acknowledged by them as deeds and be Two horses and two mules and their harness: one cart or wagon: filed in the ofilce of the Corporation commission at the tate Capital one dray or truck: one coupe; one hack or carriage for one or two and a certified copy thereof filed in the office of the County Recorder, horses or one automobile by the use of which a carman, drayman, trnckman, hurkster, hackman, teamster, chauffeur. or other laborer in each county in the state in which they transact business. 'l'he habitually earns his living. and one horse with vehicle or harness or articles of incorporation must contain: 1. The name of corporators, and its principal place of transactin1t buslne -. 2. The general riht~eeli~m;;~! ~:r.~~t~reao}Uhfse~~cleh·~~i.a~,.ii~~~~adbl?o~~c;~~tgl:.::s naturP of the business proposed to be transacted. 3. The amount of capital stock autborizerl and the times when and conditions upon or mules for one month. 12. Fuel nece sary for the use of the debt or and bis family for the period of six months. 13. The presses, which it ls to be paid in. 4. The time of the commencement and termination of the corporation. 5. By what officers or persons the stones. type. cases and other tools and implements used by anY affairs of the corporation are to be conducted, and the time at which person or copartnership ln printing or publishing a newspaper or In they are to be elected. 6. The highest amount of Indebtedness or condu<'ting any printing establishment or by any person hired to use them; not exceeding two thon:sand dollars in value; toget,her with liability to whi<'h the corporation is at any time to sub.iect itself, which must not exceed two-thirds of its capital st.ock. 7. \Vhether private stock in trade not exceeding four bundrerl dollars in value. 14. The property is to be exempt from corporate debts. Unto· so exempted library and philosopbiraJ and chemical or other apparatus belonging stockholders are liable for the debts of the corporation in the pro• to and used for the instruction of youth in any university, college, portion which their stock bears to the whole capital stock. Must seminary of learning or school. 15. All moneys received by or Attachment.  Writ will issue on ~davit showing:  ~~°n~i  rJ:1~!~  ~nf~\~ilil~;J~:ns. ~t~~~~::i!.~;  fia~i:irL:r~·  ri:  J!~E?s~:il~s  fl~~  t:~~h!r  :r~~!'f  1.  BANKING AND COMMERCIAL LAWS-ARIZONA pa.ya.hie to a survivin~ wife or child upon the life ot a deceased husband or father, not ex<'eediJ1g ten thousand dollars. 16. All moneys arising- from fire or other insurance upon any property exempt from salt- on exe<'nt.ion. 17. All moneys, relief, or other benefits payable to or to be renrlered by any police department association, fire department a.ssndaLion, heneflciary association, or fraternal benefit a.<;sociat ion. and any perc;on entitled to _assistance therefrom, or to any <'E'rt ifl<'ate holder thereof or beneficiary under such certificate. 18. Any <'laim for damages recoverable by any person by reason of any levy urion or sale under e xecution of his exempt personal property or by reason of the wrongf~ taking or detention of such propE'rty h.v an.v person, ancl any Judgment recovered for such damages. 1H. :rhe earnings of the minor child of any debtor or the pro<'eeds thereof by reason of any liability uf such debtor not contrarted for the spe ·ial heneflt of such minor child. 20. One half of thE' earning<, of the wa·.?ec; or salary of any pers()n for his personal servkes renctered at any time within thirty days next preceding the levy of attachment, irarnishment• or execution when it appears hv the affidavit of the deht()r or otherwise that such earnings !l,re neees,iary for the use of the family resitting in thic; state, supported m wholE' or in part by him. 21. All arms. uniforms and accoutrerne11ts required by law to he kept hy any perc;on and also one gun  ~~~~~t~~~;}~d N t'ri1de~~~ho!!es. Aj~i~~e  :~t ~l\e.  ·pro le~fl ~~~ clarect to he e ·empt by this chapter shall not he rxempt from attachment, or sale in any artion bro11ght or judgment recovered for ~he pur<'lm<se pricE' of such propE'rty so lr>n!! as c;uch propert,y remains m the posse<;.-;ion of thE' orildnal purcha er. (~ee Homestead, Liens.) Frau"~ 11nd Fraudulent Convevances. Ag-reements must be in writing and c;i!!11ed b.v the parties to he charged 1. By an e ·rcutor or admini"trator to answer for the deht of his testator or intestate out of_his own estatE' 2. By a person to an wer for the deht, default or m1s1·arria'(e of another. ~- To charge an.v person upon an agreement made unon consideration of marriage. 4. For <;ale of real estate or lease thereof for a term Ionizer than one year. !\. Those which are not t.o he performed within the spare of one year after thP making thereof. ft~verv gift convevance, or aso;;ignment.. or tran<:fer. or charge uprm any e,iate. rea·1 or per,;;onal; any suit commenced on decree, jud!nl'lent, nr e,ce<'utions c;uffered or obtained, or any bond or other writ ina: ,:riven with intent to rlelay. hinder. or defraud creditors, purcba-;ers or other persons, shall to su<'h persons hE' void. All b~rgains. sales, and o1her conveyances of lands. tenements, and hered 1taments, deed" 0 1 settlement of marria"e. <iPerls of trust, and mortgages, are void as to creditors and su,1<sef(ue111 purcha-;e~. without notie;e, unless properly recorde~I. The erer!it:nr must IJ~ a judg!!lent creditor, and notice must ho prior to elate of Judgment he?. A Judgment creditor may he an inno<'ent purchac;e-r. Every gift, conveyance, a. signment, transfer or charire i:11ade by a debtor .. which is I!Ot upon consideration deemed Yaluable m law shall be v01d as to prior C:editors, if debtor had not then other property in the State sufflc1e.nt to pay all his indebtedness. Not on that account, however, void as to subsequent cre<lit,ors. . To gift of any goods and chattels shall he valid unless duly acknowledged, or proven and recorded , or b~ Will, or unless actual possession shall have come to and remained :,v1th the donor or some one claiming under him. Fraudulent int,ent }s a Question of fact and not of law. Conveyance shall not be adjudged raudulent merely be<'ause not for valuable consideration. If any person shall do or transact business as a merchant or trader, with the 8:ddition of the words agent, factor, company, or & Co., or words of liJ.<:e significance or import, and shall fail to disclose tbe name of bis Pri~cipal, or partner, or other person who may be interested in such busmess by a sign in letters easy to read, pla<'ed conspicuously at the pla~e where such business is transacted, or if any person shall transact busmess in his own name, without any such addition. all the property, stock, money and choses in action used or acquired in such business except such property as may be exempt from execution, shall. as to t,he creditors of any such person, be liable for his debts, and be, in all respects, treated in favor of his creditors as bis property. Criminal Prosecution for fraud is provided. (See Conditional Sale.) Garnishment. Writ may issue: 1. Wbere writ of attachment has issued. 2. Upon affidavit that the debt is just due, and unpaid, a1;1d that de-fendant bas not, within afflant's knowledge, property in h1s possession subject to exe<'ution sufficient to satisfy such debt, and ihat the ,vrit is not sued out to injure eitht'.r the defendant or p;arnishee. · Upon judgment, when a!flant makes _affiqavit that. the qeft;nda!!t ~as not. within his knowledge, property m bis pos. ess1on withm this r_ei:ri_tory sufficient to satisfy said judgment. Proceedin~ under su~d 1v1s1on 2 requires a bond in double tbe amount of the debt, conditioned that plaintiff will prose<'ute the suit to effe<'t, and pay all damages and costs that may be adjudged a!(ainst him for wrongfully suing out the garnL hment. The proceedings are docketed and judgment rendered as if in an independent proceeding. (See Attachment.) Holidays. Legal holidays are January 1, February 14, February 2 2, July 4. October 12. Thanksgiving, May 30, December 25. Arbor Day, Labor Day every 8unday and general state ele<'tJOn day, or adny special election day that may be called by the govero?r, and any ay appointed by the president or governor. Any promissory note, b ank check biJl of exchange acceptance, or other negotiable instrument, made payable at any future period, which falls due on any or these days mentioned, shail be considered due and colle<'tible on the day following and if January 1, February 14, February 22, July 4 , October 12 December 2.5. of May 30, and Arbor Da.v, shall fall u Pon Runday,' then tbe ::v.Ionday following shall he consider_ed as a 1egaJ. holiday. ·writs of injunctions, attachments, replevm, and prohibition may be issued and served on. E Bom~stt>ad. Deed to, must be signed by husband and wife. (See xempt1ons.) Husband and Wife. All property, both real and personal, of t~e husband or wife, owned or claimed by him or her before marriag~, and that acquirect afterward by gift. devise, or descent_, as also the mcreru e, rents, issues, and profits of tho sa~e .. ball be _h1~ or her separate property. The earnings and ac<'umulat,1ons of the iv1fe and her mmor children in her custody while !-he has Jived or may live separate al!d apart from her husband, shall also be the separate propertr of the W1fe. All property acf(uired by either husband or wife durmg tbe marriage, except tbat which is acquired by gift, devise, or descent, or e.arued by the wife and her minor children while she ba.s lived or may hve separate and apart from her husband, shall be deemed the common ~!'OPerty of the hw,band and wife. and during the coverture may be ic;posed of by tbe husband only. 1arried women of the age of twenty-one years and upwards shall have the same legal ri11:hts a.s men of the age of twenty-one years and upwards, except the riitht to make chontracts binding the common property of the hushanrl and wife: and s au be subject to the same legal liabilities. ( ce Dower, Conveyance.) Injunction. Is issued, where party is entitled to relief and traint, is required of some prejudicial act; where, pending litigaion, an act is done which tends to render judgment ineffectual, and When applicant is entitled under principles of equity. Under certain conditions may be granted ex parte at chambers or by consent. Bond may be fixed by judge and approved by clerk, except to restrain collection of money judgment, when it must be double the amount of such judgment. pe~~i:::~~ef~~f~sr;:;!: Employer's Liability and Compulsory Com-  t~· Federal Reserve Bank of St. Louis  11  0  1853  Insurance. (See special chapter pertaining to Insurance.) Intere t. :May contract, in writing, for any rate of, not exceeding 10 per cent per annum. Any rate exceeding this ls usurious. ·when no express contract, on bond, bill, note. or Instrument of writing, or judgment, for money lent, or due on set,tlement of accounts from ?,ate of ~scertained balance, and money received for W:;e of another, mterest 1s computed at 6 per cent per annwn. Judgments. Judgments of superior courts become a lien upon all real estate of judgment debtor in the county as soon as entered and docketed. Upon filing with the clerk of the superior court a transcript of judgment from justice court or of superior court of another county the same becomes a lien on all real estate of judgment debtor in the county. No execution can be issued on any judgment after the expiration of five years from the date of its rendit.ion and entry unless such judgment be revived by scire facias or action for debt be brought thereon within such five years. Judicial Bonds. (See Bonds.) Levy. (See Executions.) Licenses. For gamhling prohibited. Liens. All persons who may labor or furnish materials in the constl;'uction or rep1,1,iring of any building, superstructure, canals, dams, mmes. or other impro, ement, or cuts cordwood, shall have a lien on the same, and in case of buildings and superstructures, on the lot of land whereon the same is situate and connected therewith. To fl. and secure the lien, the person performing labor or furnishing material must. within sixty days after the completion of such labor or the furnishing of materials, file hi!- contract in the office of the county recorder where the property is situate. If the contract be verbal, a duplicate copy of the bill of partieulars should be made, under oath and one delivered to the recorder and filed for record and the other 'rurnisbed the party owing the debt, or his agent. Laborers' and like liens are 1 0 0 f~~be~efle! cf!~~~ie~g~to ~~1l~ce~ 1i!ftgti·fi:1e~1~~~t~~~1itfe~:·ma~si be commenced. within six month after filing tbE' same in the recorder's office. In case of the levy of writ of attachment or execution, clerks, laborers, and employes of debtors have a preference claim for wages for service performed sixty days before levy of writ, not exceeding $200. upon filing notice of <'!aim unpaid with credit,or, debtor, and officer executing writ. Proprietors of hotels, boarding houses, and lodging houses have special lien on all property or baggage deposited with them by guest,s for price of guests' entertainment. Agister and liveryman have lien by statute. (See Judgment, Mortgage.) Limitations. To recover realt,y a~alnst person in peaceable and adverse possession under color of title, three yea1·s; against such po~ession where person pays taxes and has deed recorded, five years, otherwise ten years; to recover lots in city or village against person having recorded deed, and pays taxes, flve years; where party in posses'iion claims by right of possession only, two years. Personal ActionsOne year: Personal injuries, malicious prosecut,ion, false imprisonment, libel, slander. seduction, breach of promise. Actions for relief on the ground or fraud; must be brought within one year from discovery of fraud. Two years: Trespass to property, detention or conversion of personal propert,y to own use, taking and carrying away goods and chattels; and injuries to person where death ensues, to accrue from date of death. Three years: Actions for debt not In writing; on stated or open accounts other than mutual between merchants or their factors and agents; all accounts, except as between merchants and factors and agents, limitations run from date of each item of delivery. Four years : For penalties or damages on any bond to convey real e. tate; between partners for settlement of partnership accounts; on mutual or current accounts between merchants, their factors or agents. to accrue from cessation of dealings; upon judgment or instrument without the Territory; bonds of executors, administrators, or guardian, after death, removal, etc.; specific performance; to contest will after discovery of fraud; and where no provision is otherwise made. Five years: On domestic jud11:ment where execution has been issued within one year after rendition. ix years: debt evidenced by writing within the state. Mines unpatented are real estate for the purpose of inheritance and conveyance. Location requires seven monuments, three at each end, and one at discovery, in which is to be placed on discovery; title work consisting of a shaft 4 x O x feet deep, or Its equivalent in an open cut so that mineral in place is discovered 8 feet from the surfa<'e must be done and notice recorded within three months, and annual asse<ssrnent work amounting to 100, maintained each year thereafter, until patent is ordered. Minors. ( ee Savings Banks.) l\lortga~es. Mortgage may contain power of sale. Whether it does or not, mortgage may be foreclosed by suit in superior court. Fa!lure of mortgagee t,o lawfully release a satisfied mortgage tor seven days after demand for the relea.<;e, subjects him to liability for $100 and actual damages. l\.lortgages on real estate are executed, acknowledged, and recorded as conveyances of real estate. (See Conveyances, Chattel Mortgage, Acknowledgments, Redemption.) Notary Public. In all certificates and acknowledgments the date of expiration of commission must be stated. as "commission expires-" No certificate of holding office, etc., is required when notary acts in foreign state or country. and Bills or Exchange. (See Bills and Notes.) Partnerships using fictitious name may file certificate showing names of partners with county recorders. Foreign partnerships may do so. Powers of Attorney. o special statutory provL-,ions relative to. To confess judgment must be executed subsequent to maturity of debt confessed, and must be acknowledged. To convey lands or relea e mortgages should be acknowledged as deeds, and recorded. Probate Law. (ocee avings Banks and Administration of Estates.) Protest. Liability of drawer or indorser of hill or note may be fixed by regular protest and notice. etc., according to the usages and custom of merchants. (See Bills and Notes.) Records. 'l'be superior courts of each county are courts of record. The recorder's omce in each county relates to titles of real estate and personal property, and probate record instrument therein ls notice. The minutes of the Sanitary Live Stock Board are notice of all brands and marks of live stock. Redemptions. From sheriff or judicial sales, six months, by debtors or uccessors in interest; any lien bolder may redeem within  t~:~rn:ii'it\~! i~h~~~ad~6:s ~he~ :~~ s~~~o~t~~to~~en~:t:·~1! applies to foreclosure of mortgages and trust deeds whether by court or under powers of sale. Replevin. For possession of specific personal property which bas not been seized under any process, execution or attachment against the property of tbe plaintiff. Sales. The "uniform sales law" is in force. Seals. Addition or omi . ion of seals or scrolls to instruments of writing in no way affect the force and validity of the instrument. ~fi!~~:d~nts executed by corporations must have a corporate seal  !~t~r  0 Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-ARKANSAS  1854  ~r~~n;J·  1 a ~~ ':ith 1~;~r~:n~Y~I:ire~o~:est~1!r~r ~:srJe~t:?~~ dEten:lant, with a member of his family over the age of sixteen years; against incorporated city, or town, or village; upon major, clerk, secretary, or treasurer; against incorporation or joint stock association, upon president, secretary, or treasurer, director or local agent 0 8 0 ~m~;e~irle cg:rirc~~!i J~:1d~g0Nic~ ~~~; ~ ~ 0 o~rci:~ri;~f;~~/~~hi~o~/f:::re ~~~~tir u';~~ domestic corporation by serving on statutory resident agent, and where there is no officer upon whom service can be made in the State. service may be had by delivering duplicate copies of summons and complaint to the secretary of the Corporation Commission, and upon foreign cor.J;>oration by delivery to statutory agent. Personal service ot summons may also be had by serving upon defendant by registered mail, as provided in statutes. u.lts. (See Actions.) Taxe . Aside from those levied by legislative enactment for specific purposes, as for the construction and maintenance of public institutions, etc., State taxes are levied by the State Board of Equalization; county taxes by the boards of supervisors of the several counties, and city taxes by the common councils of the various cities. Railroads are valued for the purpose of taxation by the State Board of Equalization. Other property is valued by count,y assessors. The assessing of value begins in February of each year. Taxes are levied on the third Monday of August in each year. The lien attaches on the first Monday of February in each year. Taxes become due not later than the third ::\Ionday in September, and become delinquent if not paid on the third Monday of December. The penalty for delinquency is 5 per cent. Within 00 days after delinquency action may be commenced in district court to foreclose delinquent real estate tax liens, and property sold as under execut,ion. Personal property tax is collected by jlistress warrant. Taxes after de),inquency draw interest at one per cent per month after action commenced to foreclose tax lien penalty of twenty-five per cent is added. There is doubt about the right to redeem from tax sales. ,varehouses. Personal property in, may be sold for unpaid charges. Transfer of Corporation Stocks. (See Corporations.) ,vm . Wills must be in writing, signed by the testator, or by someone tor him, in his presence and by his direction, and must be attested  ~:~1~~!P:,  gm~:  ~Jit  ~/~:u::i~:  ~let;~~~~~:e<;[:fobf:e:~:iigs:~: t~1~!o~~e a~°e~ft~t:,m 7se,~b801l~  written by the testator, no witnesses are necessary, Nun-cupative wills may be made when property willed does not exceed in value $50, unless it be proved by three credible witnesses that the testator called on some person to take notice and bear testimony that such ts his will, and that the testimony, or the substance thereof, was committed to writing within six days after the making of such will; in such case the amount willed is not limited. Wills are revocable by subsequent will, codicil, or declaration in writing, executed with like formalities as in execution of will, or by testator destroying, canceling, or obliterating the same, or causing it to be done in his presence, or by subsequent marriage, and no provision is made for wife. Foreign wllls, the probate whereof is duly authenticated, may be probated here. Contests of wills can not be initiated after one year from date of probating.  Actions. Suits are pro ·ecuted under a reformed code of civil procedure differing from the ... ew York code chiefly in maintaining the distinction between law and equity. Administration of Estates. Executors and administrators must be residents of the tate and mu t give bond in double the Yalue of the property. Foreign executors and administrators can maintain actions in our courts. Claims are paid in the following order: First, funeral expenses; second, expenses of last illness; third, judgments which are liens on the lands of the deceased; fourth, demands presented within six months; fifth, demands presented within one year. All demands not presented in one year are barred. Demands must be authenticated by an affidavit to the effect that nothing has })een paid or delivered toward their satisfaction except what is credited thereon, and that the sum demanded, naming it, is justly due. Demands mu t first be presented to the executor or administrator, and if disallowed by him may be presented to the probate court, or sued upon in any court of competent jurisdiction. otes and debts secured by mortgages or deeds of trust must be probated as any other claim, and if not presented to the executor or administrator within one year after appointment, are barred by the statute of non-claim of one year. ·when the note or debt is barred this carries with it a barring of the mortgage or deed of tru t given to secure the notes or debts." Affidavits in this State are made before a judge, justice of the peace, notary public, or clerk of the court; without the tate before a judge, mayor, notary public, justice of the peace or commissioner for this State. Aliens may hold and transmit property in all respects as residents. Arbitration. Controversies may be submitted to arbitration , and the award of the arbitrators is filed in court, and is subject to review on equitable principles only, and not for matters of form. \Vhen not set aside they are entered of record and become the judgment or decree of the court. Arrest. Defendants may be arrested for debt only when the plaintifl.' flies an affidavit charging that the debt was fraudulently contracted; that it is just, giving its amount, and that he believes that the defendant is about to depart from the State, and with intent to defraud his creditors, has concealed or removed from the tate his property or so much thereof that the process of the court after judgment can not be executed; or that the defendant has money or securities in the possession of himself or of others for his use, and is about to depart from the tate not leaving sufficient property therein to satisfy the plaintifl.''s claim. Bond must be given conditioned to pay the defendant all damages that he may sustain if wrongfully arrested. Assignn-ients for the Benefit of Creditors may be general or partial, with or without preferences, and where all the debtor's property is conveyed, may exact releases as a condition of preference. The assignee must file an inventory of the property assigned and give a bond conditioned that he will execute the trust confided to him, sell the property to the best advantage and pay the proc eds to the creditors mentioned in the assignment according to its terms, and faithfully perform his duties according to law. He must sell within 120 days all property except the choses in action, which he is required to collect, the sale to be at public auction after thirty days' notice. Assignments are vitiated by the fraud of the assignor alone or by any provision ::!Yl:;fd!ri~ t~~~:i~~~~~n~ifu;~~;tt:}tihe/!~c~!tu~~e~h;~ proceeds are fistributed equally among all the creditors. Assignees close up their accounts under the direction of the chancery courts. Corporations can not prefer creditors. Attachments may be sued out where the defendant ls a foreign corporation or non-resident, or has been absent from the State four months, or has left the State with intent to d fraud hi creditors, or has left the county of his re idence to avoid the ervice of ummons, or conceals himself so that summons can not be sen·ed on him, or is about to remove or has removed a material part of his property out of the State, not leaving enough to satisfy his creditors. or has sold, conveyed or otherwise disposed of his property, or suffered it to be sold with the fraudulent intent to cheat. hinder, or delay hi creditors, or is about o to do. It is obtained by fll~ng an affidavit stating the nature of the plaintiff's claim. that it is just, its amount and the existence of the ground, and by giving bond conditioned to pay all damages the defendant may sustain if the attachment is wTongfully sued out. The defendant is allowed to traver e the attachment, and the affidavit  trih!r:~~~~~r i:\Tfsdo~eS.11t~i~~1e~~~~t ~!~hh~~: l';~~ss~i:it of damages upon the bond in the same suit. Persons claiming the attached property may interplead in the same action . Attachments may be sued out before the debt,.is due where the defendant has sold, conveyed, or otherwise disposed of his property, or permitted it to be sold with the fradulent intent to cheat, hinder or delay his creditors, or is so to do, or is about to remove hL property, or a material part thereof, out of the tate with the intent of cheating, hindering or delaying his creditors. Bank . The banlcing business is controlled by a state bank department under the direction of a bank commissioner. Any five or more persons, the majority of whom must be resident of this tate, may apply to the commi ioner to be incorporated and the shares of capital stock shall be not less than S25 nor more than 100 each; application may also be made by an individual or firm and hall then be in such form as the commissioner may prescribe and such individual or firm shall adopt a name which will show that it i not incorporated; all property owned by such bank hall be held in the name of the bank and not in the name of the individuals composing the firm and all  SYNOPSIS OF  THE LAWS OF ARKANSAS RELATING TO  BANKING AND COMMERCIAL USAGES. Revised by E rnuso~. DONHAM & SHEPHERD, Attorneys at Law, Little Rock. (See Card in Attorneys' List.) Accounts verified by the plaint1ft as just and correct prove themselves in suits thereon unless denied under oath. Acknowledgments may be taken within the State before the supreme or circuit court. or a judge thereof, or clerk of any court of 1 0 ii~~~!~~rifa~ie lo~ieiia:in~o~a~[J~~l~~~ts~r~i~~ ioJ:1t~ notary pubhc. mayor having a seal, or commissioner of Arkansas; without the United tates before any court having a seal. mayor of a city having a seal, United tates consul. or any otflcer authorized by the laws of such country to probate conveyances of real estate, proyfded he has a ea.I.  ui~Y~ci  ~~filto~fof~~chui~di~~tt11e o~ati1~a~~tir:iffl!trinr~se~r~iu~;~Jt h~~ been paid; upon the cleath of an individual banker his widow is not endowed of any property of the bank except such as remains after the payment of all depo ·itors and other cr"ditors. ~ o corporation, firm or indiYidual may do a banking business until a fee of one-fifth of one per cent on the authorized capital stock shall have been paid to the bank commil- ·ioner. Fees at the same rate must be paid on each increase of the capital stock and for each amendment or supplement to the articles of agreement, except for an increase of capital stock, there shall he paid an additional fee of 10. There is also due the commissioner an annual fee of 15 in addition to a payment of fifty cents on each 1,000 of the bank's capital stock. The fully paid-up capital stock of any bank organized after the passage of the banking act ( 1arch, 1913) cannot be les than 10,000 in cities having less than 2,500 inhabitants, not less than . 20,000 in cities having more than 2,500 and less than 5,000 inhabitants, not less than $25,000 in cities more than 5,000 and less than 10,000 inhabitants and not le· than .. 50.000 in cities having more than 10,000 inhabitants. The banking- act does not apply to trust companies whose minimum capital stock is 30,000. The afl'airs of an incorporated bank are controlled by a board of directors chosen fr m the stockholders; each director mu. t be the owner of not less than 500 worth of stock, par value, fully paid-up and not hypothecated; every bank must have on hand at all times as a re erve as much a 15 per cent of the ag1,,rregate of its deposits. Stoc1·holders are llahle for tile debts of the hank in the sum of the par value of their .·tock in addition to the amount inve ted in such stock. (..\.ct ~o. 113, Acts of 1913, page 462). Bills. Exchange and Prontls ory otcs. The Negotiable Instruments Law went into effect on April 22, 1913.  n  sJ:  d 0  Pl  $' 0  bi cc  tr be I&  es sli of fo  'IV'  or  co  a.t  SU  BANKING AND COMMERCIAL LAWS-ARKANSAS No person can be charged as an acceptor of any bill of exchange unless his acceptance shall be in writing. If the acceptance is written oinn another paper than the bill, it shall not bind the acceptor except favor of the person to whom such acceptance shall have been ~hown, and who, on the faith thereof, shall have received the bill •Or a valuable consideration. Every holder of a bill presenting itth for acceptance may require an acceptance on the bill; otherwise otwithstanding the e bill can be prote ted for non-acceptance. above provisions any one promising to accept a bill i • liable to any Person to whom a promise to accept it may have been made; and 'f~o, on the faith of the promise, has drawn and negotiated the bill. .Q..UY person on whom a bill is drawn, a.nd to whom the . ame may bt e delivered for acceptance, who shall destroy it or refu e within wenty-four hours or such time as the bolder may allow to return tbe bill accepted or not accepted to the holder. shall be deemed to h ave accepted the same. \Vhen the bills become due on any holiday, they are payable the next succeeding busines." day. Instruments falling due (or becoming payable on) Saturday are to be presented for payment on the next succeeding business day; except that insturments payable on demand may be presented for payment before 12 o'clock on Saturday if it is not a holiday. The following damages are allowed where a bill is protested for non-acceptance or non-payment: If the bill is drawn on any place in this tate, ~Per cent; if payable in the states of Alabama, Louisiana, '.Ii.. issippi, ennessee, Kentucky, Ohio, Indiana, Illinois, or Missouri, or any_ point on _the Ohio River 4 per cent; if drawn on any other place m the U mted States, 5 per cent; if beyond the limits of the United t!lte;'>, 10_Per cent. If the bill be drawn by any person at any place w1~hm this tate, at the rate of 2 per cent; if drawn by anyl}erson at any Place without this State but within the limits of the nited States, 6 Per cent; if drawn by 'any person without the limits of the United States, 10 per cent. The holder of any bill prote ted for n~m-payment or non-acceptance is entitled to costs of protest and interest at the rate of 10 per cent per annwn on the amount of the bill from date of protest. The term Bill of Exchange includes all draft,.<, or orders drawn by one person on another for the payment of a sum of ~oney specified therein. Bills and notes given for patented machines, uuplements, substance or instruments of any kind, given to any Cittz~n of this State are not commercial paper, unless executed on a Printed form, and• showing for what consideration they were exe~gited. This applies to patent rights and rights to use any patented ng of any kind. But this provision does not apply to merchants lnud dealers who sell patented things in the usual course of business. blank assignments are taken to have been made on uch day as i~all be most to the advantage of the defendant. In other respects e general rules of commercial law apply. Bllls or Lading. ( ee Warehouse Receipts and Bills of Lading.) Collaterals are governed by the law merchant. .,.. Contracts touching ~ommercial matters are governed by the law ~erchant. knConveyances may be either witne ed by two witnesses or acowledged. (See Acknowledgments.) If witne, ed they are proved ~~he oath of two witne . es, and are then entitled to r cord a though th owledged. Dower can be relinquished only by the wife joining 6 rusband. The wife may convey property acquired since October 30 or 'b 8?4, by deed as a single per on without her husband joining her, Y J0!ning with him in the form above. The wife may convey 1.>y Power of attorney a.nd make executory contracts of ale. Deeds Which have been recorded and are properly acknowledged prove them80p/ves.. Any substantial departure from the form of acknowledgments . escr1bed by the statute, such as the omission of the words "con~d-1ation" or "purposes," makes 'the acknowledgment and record t.01 : but statutes have been passed from time to time curing defecl~ve acknowledgments previously made. Such a statute was paJ ed ary~ti:- fi_new Curative Act was passed and approved Febru19  B Oinorporatlons are organized only under general incorporation laws. US ess corporations must consist of not less than three persons who :rail elect a board of directors. The president and secretary are to be ected by the board and the president must be a member of it. The ~ecretary and treasurer must reside and keep the books of the comt~Y Wi~hin the State. The articles of association mtL<,t be signed by e .President and a majority of the directors, and must be accomPani!'ld by a certificate signed in a like manner and sworn to by the 0 s1dent and a majority of the directors, setting forth the purpose.of ~dcorporation, the amount of its capital stock, the amount actually Eai in, the names of its stockholders and the number of shares held thy each respectively and the articles and certificate must be filed in e office of the cle~k of the county in which the corporation is to transact business and then with the clerk's endorsement in the office ~f the secretary of Stat . The ·tock can be transferred only upon the ompany's books and a record of the transfer has to be deposited with }he county clerk in order to be valid as against creditors of the transsrokhr. The corporation has a lien on its stock for debts due from the oc olders. The president and secretary are required to fl.le with r;:e county clerk an annual statement of its financial condition. and case of a failure to do so become liable for its debts. It the direcfJ>rs declare a dividend when the corporation is insolvent they become for all the corporate debts. Any corporation which is insolvent ;bhle 0 may be wound up on the suit or any !)S ceased to do btL'-ine creditor or tockholder by a decree of the chancery court. Preferhares of stock are in ~nces by insolvent corporations are forbidden. enommation of 25 or 100. Before any corporations, foreign or ~mestic, can do any bw;inoss in this tate. an annual franchise tax USt be paid to the State Treasurer. to-wit: One-flfteenth of one fter cent each year upon the proport-ion of the outstanding capital 0 <:k of the corporation represented by property owned and used in b US1ness transacted in this tate. Every corporation doing business for profit and organized as a mutual life, tlre, accident, surety, health or other insurance company ~tllhaving a capital stock and not organized for charitable purposes a pay an annual tax of $100. 00. d ~l foreign or domestic insurance companies, of whatsoever nature, fm g business in this State and having au outstanding capital stock 0 1 {!Ss than $500 000 shall pay an annual tax of .• 100; and such comiig6es having a capital stock of'S50 ,000 or more an annual tax of other 1~~~;_ax being in lieu of the ta on the capital as provided in b Every investment company, foreign or domestic, except ational coanks and corporation not organized for profit, incorporated or uninrporated, .which shall sell or negotiate the sale of any stock'-, contracdsts, bonds or other securities of any kind or character other than of the United States, or of some municipality authorized to isson ue bonds of the State. and notes secured by mortgages 011 real !~ta te located in the State, or sell building stock or loan inv stments, a 11~ file in the office of the Ilank ommissioner. together with a fee if v ._oo, in addition to the fees required of all inc-orporations, the ~il?h~g documents: A stateme_nt showing in detail tho plan upon 1 or it~~~ p~~~~:e~~str~~w~Iit i~~~ioiesa tcg~a1tea~!i~gnt~actt ignft: contributors; a statement showing name and location of company ~dhar:,. itemized account of its actual financial condition and any other c mformation which the Bank ioner may require; if  f~  sin es an  ts  ts.  ID  or he d  a  he cb le Federal Reserve Bank of St. Louis  1855  such company be a co-partnership or unincorporated association it shall also file a copy of its articles of co-partnership or association and all other papers pertaining to its organization; if it be an Arkansas co_rporation it shaJJ file a copy of its articles of incorporation, cons~1tut1~n. and by-laws and all other papers pertaining to its organizat10n; 1f 1t be or~anized under the Jaws of any other state or territory or government. incorporated or unincorporated, it shall file a copy of the laws of such state or government under which it exists or is incorporat~d. _and also a copy of its charter, articles of incorporation. ~~~~~ut1on and by-laws and other papers pertaining to its organtThe Bank Commissioner hall examine all such papers and may admit or reject such company in his discretion: a company rejected or whose right to do business is revoked by the Bank Commissioner' ~ay, within twent_Y da:ys, !1-Ppeal to.the chancery <:ourt of any county m ~he state where its prmc1pal office is located or prmcipal agent resides. If 1t be found that the refusal or revocation was justified the co t sf!'l~fe~ paid by the company; otherwise by the state as provided by Any individual or persons, co-partnerships, corporation companies or association, domestic or foreign, which shall sell any 'building or investment contracts or like securities on which payments are to be made from time to time, shall first enter into a bond with the State of Arkansas in the sum of $20,000 for the faithful performance of its contract. . Forei~n Corporations shall, before doing busine s in the State, by its president Ole in the office of the secretary of State a certificate under the seal of the company naming an agent, who shall be a citizen of this 8tate upon whom service of process can be made. 'rhe certificate shall state the principal place of bu.·iness of the corporation· and servicf> on the agent shall bind it. The corporation mu t al o a certified copy of its charter together with a statement of its as ets and liabilities, and the amount of its capit,al employed in this state in the office of the secretary of State, and in the omce of the county where it opens an office, and must pay same fees as are required of home corporations. It must also tile a resolution of its board of ~~!~si:gtt~t}e~e~:i rA~e;!~~:t;~~sgr1tit~;~~!1~ei;:1!:egg~cf~~~~1~e~n court or removes a suit there without consent of its adversary its right to do business is revoked. Doing business here without compliance witb the Jaw subjects the corporation to a fine of not less then $1,000. These r quirements do not apply to railroad or telegraph companies that had built lines in the tate prior to Feb. 16, 1 90. It any corporation •fails to appoint an agent, service of process on the auditor of State shall bind it. ~ •o foreign corporation can sue on any contract made in this tate until these provisions are complied with. Courts. The supreme court is held at Little Rock and has jurisdiction of appeals from the circuit and chancery courts. In all countie eparate courts of chancery have been established. The ~ tates of deceased persons are entrusted exclusively to the probate courts, with right of appeal to the circuit and thence to the supreme court. Claims against counties are heard by the county court. as also matters touching paupers and the like. The jm;tices' courts have jurisdiction of matters or contract not exceeding 300, aud matters of tort not exceecting 100. Two terms of the circuit and chancery court and four of tho county and probate courts are held in each county per year. Deed . ( ee Acknowledgments and onveyances.) Depositions may be taken in the State before any judge or clerk of a court of record, justice of the peace, mayor, or notary public; out of the State before a commissioner for this tate, judge. justic of the peace, mayor, notary public, or person commi ioned by the court or by consent of parties . Descents and Di tributions. Property dpscencls to children and their descendants in equal parts; if no children, then to father, then to mother, then to brothers and sisters and their descendants in equal parts, and in default of such to the nearest Uneal ance 'tor or his  file  t?ft  ~~~ci~f;~t ~nei~!rft~~~lf~~:1ff!sino~~!f~~t~e sii:gtr:~ni::~rer;:; if legitimate. If the parents of illegitimate children subsequently intermarry and the father recognizes them as his, they shall be deemed ~~g~~~~°iid ti:r:~~f~~1ri~st~:tt~rile mg;r!ltft~e~ ~~~~i~:in1i goes to the blood of the ancestor from whom it was derived. Relations of the half-blood inherit equally. Heirs take as tenants in common. Dower. Where there are children the wife takes one-third of the husband's per onal e tate absolutely and one-third of the real ed.ate of which he was seized at any time during the marriage, for life. Where there are no children she takes in a new acquisition one-half of the real and personal estate absolutely as against heirs, 01· one-third absolutely as against creditor . If it is an ancestral e tate. she takes one-half for life against heirs and one-third for life against creditor:<. Execution from the circuit court are returnable in sixty days, those from justices' courts within thirty. They may be stayed for six months by giving bond. They are a lien on the property of the defendant in the county from the time they come to the officers' hands. The officer before levying on personal property, the title to which is doubtful, may require the plaintifl' to give him an indemnifying bond, and then suit must be brought by the claimant upon the bond. The defendant and other judgment creditors have one vear in which to r deem from the sale of real estate. In case the w1:it is returned nulla bona the plaintiff may proce d by biJI of di. covary against the defendant and examine him on oath, ancl enforce a surrender of concealed property by imprisonment. Exemption'!. Unmarried persons are entitled to 200 and man'ied person and heads of families to $500 in selected articles of personal property as exempt again t debts by contract. Persons who are married or heads of families are entitled to a homestead a. again t all debts, except the purchase-money, specinc lien.-. laborers' and mechanics· liens, taxes and clainL'> for trw t fund. converted. The home tead in the country is not to exceed 160 acres. and in town not to exceed one acre, nor to be worth more than 2,500, but the country home• stead is not to be reduced to less than 80 acres nor the town homestead to less than one-fourth of an acre, regardless of value. The homestead goos to the widow and minor children after the husband's doa1,h. The ho~estead can only be conYeyecl by deed in which tbe wife joins and which is acknowledged by her, and if the thusband neglects to claim the homestead the wife may do so. Fraud. _The _English statute of fraudulent comeyances has been re-enacted m this State. Garnishments may be sued out pending suit upon giving bond in double the amount garni ·bed, or after judgment "ithout bond. ~olldays. The following are et a1>art a11d designat d as lega ew Year's Day (Janholidays: Christmas Day (December 23th); uary 1st); July I~ourth; Thanksgiving Day (last Thw·sday in November); W~shington's birthday (February 22nd); Labor Day (first Monday m eptember); General Robt. E. Lee's bithrday (January 19th); AU general biennial election days; Birthdays, Jefl'crson Davls, Pres1d nt of the C'onfederate States of America (.Tune 3rd); Arbor Day (fir ·t Sat nrday m :M arch, a pocial day). Wh n bills become due on an,y oi: these dayS, they are payable the next busine. day, October ~2th 1s C'olumbus Day (a public holiday, but not affecting commercial paper. or the execution of written instruments nor ' interf ring with judicial proceedings). 1  'f: Federal Reserve Bank of St. Louis  18S6  BANKING AND COMMERCIAL LAWS-ARKANSAS  ---------------~--  ----nushand nnd Wife. (See Married Women.) lnJuni·llons may be Issued hy <'ircuil judges, chanrellors, or the juch?e ur any court In which suit 1,.. brought. The per,.;on applying for the injurwtion must ghe bond as the eom•1 or judge may direct. lnl<Oh'eIH'". The :-:!upreme <'ou ·t ha, hPld that t.he Federal Bankruptcy .\<"t has '-USpend,•d the Rtate insolvency laws. Interest. The legal rate of int Prest i-.; Ii per cent, hut parties m11;y contract Jn writing for not e ·cee<lirw 10 per c-rnt. lntPrest exacted m excess of 10 per cent forfeits thr dPbt. 1.n compurirw the Interest commis. ion<: paid to the airE'm of the lende- are countf!d a.c, interest Whore usury i:- ,·barged the horrower n,ay go Into equity and have the debt and seC'11ritie-; can,·elled without tendPring the amount lawfully due. Judgmrnts hrar the same rate of interest as the ol)ligatioo sued on. Judgments against <"ount ieo; bear no interest. Judgment (~ee interest) are lif'n~ upon the real ei:;tate of ~he debtor in the county where rendereu for thrf'f' years only. The hen may be renewed and continut>d for three years by sdre faC'ias. Judgments of the United States ancl other courts <·an he made liens on lands in counties other than that where they are rPndered hy flling a rertifled copy in the office of the circuit, derk. A jutlgment sur,·ives for ten years. Jurisdiction. (See <'ourti-;.) Liens. ).1echanics, builders, artisans, laborers, and others doing any work upon or furnishinii; any maLerial for any buildin11: or erection under any contract with the owner or his agent. contractor or subcontractor, shall have for such work or material furnished a lien on the building or improvement together with the land on which it stands to the extent of one acre if in the c·ountry: if in a city the lot or land upon which the erection is situated. Hotel keepers have lien on baggage and personal effects of guests. Liverymen have lien on all stock and property left in their care. Limitations. Suits for the poss s.o;ion of real estate must he brought within seven years. saving to minors and lunatic. three years after their disabilities are removed. Actions for rec·o\'ery of lands sold at judicial sales must be brought within fh'e year-,, sa, ing to minors and lunatics three years after removal of disahilit ies. Actions for the recove1·y of lands held under ta'< tit le must be hrou~ht In two years. Actions for forcible entry and detainer. on contra('ts not in ,vritlng, for trespass and for libel, within three years. Actions for criminal conversation, assault and battery, fal-.;e imprisonment. and slander, within one year. Actions on written im=truments. within five years: on judgments, wiLhin ten years: on bonds of e erutori:: and administrators, within eight years. In all cases, except al'1 ion,:; for tho recovery of lands, minors and lunatics have, after remo\'al of their di. ability, the statutory period in which to i::ue. \'erhal promises or acknowledgments do not take a claim out of tho statute. One year is allowed after dismi. sal of a suit in which to he~in a new action. No person can avail himself of a disability which did not exist at the time the right of act.ion accrued. No endorsement of payment made by the payee or on his behalf is sufficient proof to take the case out of the statute. Limited Partner hip may consist of one or more general. and one or more special partners. The latter of shall constitute in ca.'!h a specific amount as his ,:;hare of the capital, beyond which he is not liable for firm debt,s. 'fhr,se forming such partnership must make and file in oillce of circuit clerk of county, and principal place of business. a certificate showing name of firm. names of parLner;;. distinguishing between general and special, nature of business, amount of capital contributed by partner, period of commencement and torminat,ion of partnership. Business to be co11ducted by general partners and suits brought by or against them. l\1arrlecl Women. The property, rPal and personal, of married women remain· their separate estate as long as they choo. e. and may be devised or conveyed without tho husband's assent, and is not sul>ject to his debts. If she dies without making any dispo ·ition of her real estate, he is entitled to curtcsy. She may carry on any business or perform any services on her own account, and her earning.,; are hers, and she may sue alone in respect of her separate property. She can bind herself by contract only in reference to her separate estate or business. She can not enter into partner. hip with her husband. If she does not file a schedule of her personal property, the burden of proof is on hor to show that it is hers. Mine/I an<l !\-lining. Under control of commissioner of mines. All documents relating to mines rou. t be recorded in the rococder's oillce of the county; and miner· of the county may make by-Jaws regarding the time, manner, and amount of work necessary to hold claims and other rules and regulations not in conflict with law. Extensive provisions are made for the protection of the health and sarety of miners. (Acts 1 93, p. 213.) Miners have a lien on the output, machinery, and tools used to secure payment for work done. Three years' possession of a mille, with work required by law, gives possessory right. 1\-Iortgages are not liens as against any one, though such per on has actual notice of their existence, until they are acknowledged in 1 ~~~fte~vl~~ert11c~r1anct111~~~a::a ~:rt~~;;~a~i personal property in the county of tbe mortgagor's residence. If the mortgagor of per onality is a non-rcsillent the mortgage is record d In the county where the property is ituated. Sales under mort~ages and deeds of tru. t can be made only after appraisement, and tho property must bring two-thirds of the appraised value. In case it ls offered and fails to bring the required amount real est.ate may he offered again after one year and personal propert.y after slxt y days, and is then sold for what it will bring. The mortga~or of real estate has one year from the elate of sale in which to redeem. In action to foreclose a mortgai;e, it is sufficient defence that the debt (which it recites), is barred by. tatute of limitations. Chattel Mortgages may be acknowledged and filed a.'! other mortgages, or they may be endorsed "This instrument is to he filed b~t- not recorded," signed by the mortga~ee. and may then he filed m the recorder's ofllce with the same effect as though recorded. :\.Tortgages of personal property reserving in the mortgagor the power of disposition are fraudulent. Mortgages and Deeds of Trw,t may be enforced by foreclosw·e at any time within tho period prescribed by law for foreclo, ing mortgage or deed of trust so far as the property mentioned and described in such mortgage or deed of trust is concerned, but no claim or debt against the e tate of a decea..,ed person shall be probated against such estate whether securf'd by mortgage or deed of trust or not except within tbe time prescribed by law for probating claims against said estate. Power .. ot Attorney. Lands may be conveyed by power of attorney, which is acknowledged as deeds and recorded in the county where the lands lie. Probate Law. ( ee Administration of Estates.) Protests. (See Bills of Exchange and Promissory "ote ·.) Records. (, ee Acknowledgments, Conveyance , l\Iortgages, Chattel Mortgages, and Powers of Attorney.) Redemption. (See Executions and Mortgages.) Replevtn. Tbe plaintiff in replevin may Ole an affidavit describing the property, stating its value and tbe amount of damages he expects  to recover, his title, that the property is wrongfully detained by _the defendant that it has not been taken for a tax or under process agamst plaintiff. and that his cause of action has accrued within three years, and upon giving bond in double its value, the property shall be takeD from the defendant and given to the plaintiff pending the suit. unless the defendant within two days after it is taken gives a cro s-bond. Revision. The last revision of the statutes was in 1904. Taxes are a lien between vendor and purcha..,er from the first Monday in December. They are payable between the first Monday in January and the 10th of April. In case of non-pa)'.'m~nt a penalty of 2fl per cent is added. Lands may be redeemed w1~hm two yea_rs by paying taxes, penalty, _and costs, with 10 per cent wt~r~st. Mmors, lunn.til's, and persons m confinement may redeem ~ithm two years after their disability is removed. ( ee also Corporations.) Tf'stimony. ( ee Evidence.) Tran11fer of Corporation Stock. ( ee Corporations.) Tru ➔ t Companies must have a paid-up capital of $50,000, and in countiec, with a population exceeding 50,000, they must h~ve a subscrihe<I capital of not le. s than $100,000. They may exerc1Se all the power. commonly conferred on such companies. ,i·ave . No assi,,.nment or order of wages to be earned in the future to secure a loan of less than 200, shall be valid against any employer or the person making such a sigrunent or order, until such ru si;i:nment or order is accepted in writing by the employer and the said assignment or order and the acceptance of same has been tiled with the recorder of the county where the party making the a.ssignment or order resides, if a rei:;ident of the state whore he is employed. N'o assignment or order of wages to he earned in the future shall be valid when made by a married man unless the written consent of his wife to making such an a..-;sii,;nment or order for wages shall be attached. Warehou~e R<-cei1>ts and Rills of Ladin~ shall not be given except where the rommodities mentioned are received on the premises, and are under the contrill of the warehow,Pman at the time of its issuance. No warehouseman shall sell. encumber, hip, or remove any such commodity for which a reC'eipt has been given ~vi_tbout the written assent of the hr1lder of the re<'eipt. The same provisions cover owners and agents of boats and ye-.;sels. All warehouse receipts and bills of Jaclin~ arc made negotiable by written endorsement and deliYering the samP. ru hills of exchange and promi. ,ory note . and no printed or wri11en ronditions, clauses, or provisions inserted in or at tachPd t,o them shall in any way limit their negotiability or impair the ril-{hts and duties of the parties thereto, or peri:;ons jntere:-ted tberE'in, or such conditions shall be void. ,varehouse receipts given by any warehouseman or other person for goods and otl_icr commodiliei:; depo·ited. and all billi; of lading iz;iYen by any carrier, boat, vesst•I, railroad, tran portation, or transfer company may be transferred by endorsement and delivery; and I.he transferee shall be deemed to be the owner of such commodities !;o far as to give validity to any pledge, lien, or tran. fer given, made, or created thereby; and no property so stored or deposited s~all be deliyered exc·~pt on surrender and cancellation of such receipts and biU.· of ladm11:. unless uch receipts and bills of lading have the 1rnrds '_'not negotiable" plainly written or stamped on their face. A carrier may ho,':ever deliver to shipper or con. ignee goods without presentation of bill of lading upon receiving from Stt('h shipper or consignee bond in double the value of the goods conditioned for delivery to the carrier thereafter the original bill of lading (acts 1907). Penalties are denounced against any warehouseman or other person who ·ball violate _any of the provisions of this statute. So much of the act as forbids the delivery of property except the surrender and cancellation of_ the original receipt or bill of lading shall not apply to property replevmed or removed by operation of Jaw. ,vms. A will must be subscribed by the testator or by some person for him at his request in the presence of two attesting witnesses, and he must acknowledge it to be his will to each of them. He must declare at the time of his subscription or acknowledgment to the witnesses that the instrument is his will and testament. The witnesses must sign their name. at the end of the will as witnesses at the request of the testator. If, however, the entire will is in the hand-wr1tin(l: of the testator it need not be attested, but may be proved by three witnesses familiar' with the hand-writing. uch will, howeYer, can not be p~eaded i_n bar of an attest<;~ will. Wills _are r~voked by marriage and birth of 1ssue unlei:;s prov1s1on for such 1ssue 1s made by settlement. or is provided for in the will. The will of an unmarried woman io revoked by her marriage. Afterborn children not mentioned in the will take their regular di tributive share. If the testator fails to mention in his w111 any child, or its legal representatives. living at the time of executing the will. he shall, as to such child, or its representatives, be deemed to have died intestate, and such child, or its representatives, ls entitled to its regular share.  ;.1;: ~~~:te1st~ ~i~  a.  Pe de Ar in go St, foe in  an  Ur  in  die  in  1857  BANKING AND COMMERCIAL LAWS-CALIFORNIA SYNOPSIS OF  THE LAWS OF CALIFORNIA RELATING TO  BANKING AND COMMERCIAL USAGES. Revised by HENRY G. W. DINKELSPIE!' Attorney and Counselor at Law,, S!!-n Francisco. (See Card in Attorneys List.) Accounts. An account is assignable, and t1:te ass!gnee may maintain an action thereon, although the account 1s assigned merely for collection. An action to recover a balance due upon a mutu!!-1 current and open account or upon an open book account ls _barred within four Years. The cause of action on a mutual account 1s deemed to have accrued from the date of the last item. In the case of_ an open book account, each item becomes outlawed four years after its date. (See Actions and Limitations.) Acknowledgments. Before an instrument can be r_ecor?ed, f~s execution must be acknowledged by the person executmg it, or if executed by a corporation, by its president or s~cretary, or other Person executing the same on behalf of t_he corpor~t1on , or proved by a subscribing witness, or by judgment m an act1~n brought for the Purpose. '£he proof or acknowledgment of ap. 11;1strument may be made at any place within the State before a Justice or. clerk of ~he supreme court, and within the city, county, _or township for which the officer was appointed or elected, before either: (1) A Cl!Jr~ of ~ court of record; (2) a county recorder; (3) a court comm1SS1oner, (4) a notary public: (5) a justice of the peace. The ackno-w:Ied&"rnent of an instrument must not be ta.ken, unless the officer t_aking it knows or has satisfactory evidence, on the oath or aillrmat1on. of a credible witness that the person making such acknowledgment 1S th~ individual who is described in, and who executed the instrument, or if executed by a corporation that the person making s~ch acknowledgment is the president or secretary of such corJ?oration, or _otJ?.er Person who executed it on its behalf. Officers takmg and certifym~ acknowledgments or proof of instruments for_ ree:ord, must a~thent~cate their certificates by affixing thereto their signatures, also their seals of o1Ilce if by the laws of the State or country where the acknowledgment or proof is taken, or by authority of which they are acung they are required to have official seals. Acknowledgments taken 'out of this State to be used within th~s State may be taken before a notary public, a commissioner appomted b;v the _governor of_ this State, a judge, or clerk of a court of record, or m foreign c~untr1es a minister, consul, vice-consul, or consular agent o( the Umted States, or a judge of a court of record or a notary public. Actions. All civil actions are commenced by filing a complaint, Upon which plaintiff may, at any time within one year thereafter, have a summons issued. There is but one form of act10n and the Plfladings allowed on the part of the plaintiff are: 1. The complaint. 2. 'l'he demurrer to the answer. 3. The demurrer to the cross-complaint. 4. The answer to tbe cross-complaint, .and on the part of the defendant: 1. The demurrer to the complamt. 2. The answer. 3. The cross-complaint.. 4. The demurrer to the answer to the cross-complaint. Administration of Estates. Upon the admissio? of a will to Probate, letters testamentary al'e granted by th~ superior court t? ~he executor named in the will, unless he be dead or ~ncapable or unw~~g to act in which case letters testamentary are issued to an adm1mstrator' with the will annexed, appointed by said court. In case ~f intestacy, letters of administ.ration are issued to the bona fide r:es1dent of the state entitled thereto, in the following order: 1. Relatives of whole blood entitled to administer in preference to those of half blood. Surviving husband or wife, or some competent person named by either. 2. Children. 3. Father or moth~r. 4. Brothery;. 5. 8!8ters. 6. Grandchildren. 7. Next of kin entitled to share m th~ distribution of the estate. 8. Public administrator. . 9. Cr:editors. 10. Any person legally competent. Where tbe person entitled to administration is a minor or incompetent. letters must be granted to his 9r her guardian, or to ai:iy other person entitled to lett~rs of administration in the discretion of the court.. _Bonds for faithful Performance of duty are required of an . admm1strator_ aT)d of an executor unless waived by the will. Notice must be given by the ~dministrator or executor by publication to all th~ creditors to C(?me m and prove their claims within ten months after its first publication. When the estate exceeds in value the sum o~ ten !11:ousand dollars, and four months when it does not. 11. Ola.nus ansmg on contract Whether due or not due or contingent, and funeral expenses must ):le Presented within t,ime prescribed by notice to cr«':d1tors, other_w1~e they are forever barred, unless it appears by affidavit of the cred1to!s that such creditor was outside of the State an<;) e:onseque?tlY ~1d D?t receive notice. Unless claim is approved w1th~11 the time p10v1ded for in the notice it is barred, unless the claunant can prove to the satisfaction of the court that he had no notice by reason of being out of the State, in which case the claim may be present~d ?t any time before a decree of distribution is _eJ?tered. When a_cla1m ls rejected either by the executor or adip.mistrator or the Jt!dg_e, the holder must bring suit in the appropriate court thereon w1th!n three months after tbe date of its rejection. if it be th n due or withm two months after it becomes due, otherwise the claim is forever barred. No claim can be allowed which ls barre_d ~Y the Statute_ of Limitations. Claims against the estate are paid m the fo_llowmg order: 1. Funeral expenses. 2. 'l'he expenses of th_e last sickness. 3. Debts having preference by the laws ~f t]?.e pm_ted States. 4. Judgment rendered against tbe decedent m his llfet1me, and mortgages and other liens in the order of their date; and 5, all other demands against the estate. Affidavits. An affidavit to be used before any court, ju<;)ge, or Officer of this State may be taken before any oillc~r authorized to administer oaths. In this State every court, ~very Judge or clerk of' any court, every justice and every no~ary pubhc_. and every o~cer 01 Person authorized to take testimony m any action or proceedmg, or decide upon evidence has power to administer oaths and affirmations. An atndavit taken in another State of the United States to be used in this State may be taken before a commissioner appointed by the govemor of this State to take affidavits and depositions in such other ~tate, or before any notary public in another State, or bef!)re any ~Udge or clerk of a court of record having a seal. An affidavit taken 1D a foreign country to be used in this State, may be taken before an ambassador minister consul, vice-consul, or consular agent of the United States, or before any judge of a court of record having a soal, in such foreign country. Aliens. 1. All aliens eligible to citizenship may take, hold and dispose of property, real and personal, within this State. 2. All aliens not ellgible to citizenship may acquire and pos ess land i n accordance with the terlllS of any existing treaty with any foreign Federal Reserve Bank of St. Louis  country of which such alien Is a citizen, and not otherwise, and in addition may lease land for agricultural purposes for three years. 3. Any company, association or corporation composed in the main of aliens may acquire and possess land in accordance with the terms of any existing treaty with any foreign country of which they are citizens, and not otherwise, and in addition may lease land for agricultural purposes for three years. 4. When it appears in any probate proceedings wherein any alien is an heir that be could take real property except for the provision of this act, the probate court shall order the sale of such real property and distribute the proceeds to such alien. 5. For any violation of this act the attorney-general shall institute forfeiture proceedings and upon final judgment the lands shall escheat to the State. 6. When it appears that any alien or aliens are holding any leasehold interests in violation of the above provisions the attorney-general shall likewise institute forfeiture proceedings, and such leasehold interest or !ts monetary value together with the costs of such forfeiture proceedings shall escheat to the State. No non-resident alien can take by !mccession unless he appear and claim within 5 years after death of decedent. Arbitration. The submission to arbitration must be in writing, and it may stipulate that it be entered as an order of the superior court, for which purpose it must be flied by the clerk. If the submission is not made an order of the court, it may be revoked at any time before the award. All the arbitrators must act, but a majority governs. Their awa1·d must be in ·w riting, signed by a majority of them, and delivered to the parties, and when the submission is made by an order of the court, must be filed by the clerk who enters the same, after the expiration of five days, in the judgment book, and thereupon it has the effect of a judgment. Title to real property cannot be arbitrated. Upon application a State Board of Arbitration has jurisdiction over disputes between employer and employee. Arrest. In an action for the recovery of money, upon a contract, express or implied, the defendant may be arrested if about to depart from the State with intent to defraud his creditors. upon order of court based upon affidavit therefor, also in an action for money or other property embezzled or fraudulently misapplied by a public officer, officer of a corporation, or an attorney, factor, broker, agent, or clerk in the course of his employment, or by any person in a fiduciary capacity; also in actions to recover the po-;session of personal property where it hac; been concealed or removed or disposed of to preYent its being found; also in cases where the defendant ba been guilty of a fraud in contracting the debt or obligation for which action is brought· or in concealing or disposing of property; also when the defendant 'has removed or disposed of his property or is about to do so with intent to defraud creditor·s. Bail given upon arrost is liable upon judgment secured. Assignments for tho Benefit of Creditors. Assignments for the benefit of credito!'s must bo written and acknowledged by the assignor or his agent authorized thereto in writing and recorded, and must be made to the sherilf of the county where the insolvent resides, or if a non-resident, where he has property. Assignments for the benefit of creditors are void against any creditor not assenting thereto in a number of instances; for example, where they give one debt a preference over another, and where they tend to coerce any creditor to release or compromise his demand. Assignments must contain names of creditors and the amounts. Attachments may be issued at the time of or any time after issuing the summons where amount sued for exceeds $10.00. All property not exempt from execution may be attached. An attachment lien upon real property continues for three years and may be extended for two years more. Tbe clel'k of the court must issue the writ of attachment upon l'ecoiving an aflldavit by or on behalf of the plaintifi' showing, (1) That the defendant is indebted to t,he plaintiir, specifying the amount of such indebtedness over and above all legal set-offs or counter-claims, upon a contract, express or implied, for the direct payment of money, and that such contract was made or is payable m t.llis state, and that the payment of the same has not been secured by any mortgage or lien upon real or personal property, or any pledge of personal property, or, If originally so secured, that such security has, without any act of plaintiff, or the person to whom the security was given become, valueles ; or (2) That the defendant is a non-resident of the State, and is indebted to plaintiff, specifying the amount of such indebt,edness over and aboYe all legal set-offs or counter·-claims, upon a. contract expressed or implied; or (3) That plaintiff's cause of action against defendant is one to recover a sum of money as damages (specifying the amount thereof) arising from an injury to property in this State in con. equence of tbe negligence, fraud or other wrongful act of the defendant, and that the defendant is a non-resident of the tate; and (4) 'l'hat the attachment is not sought. nor is the action prosecut,ed, to hinder, delay, or defraud any creditor of defendant. Before issuing the writ, the clerk must require a written undertaldng on the part of the plaintill, in a sum not less than $200, or in Justices Court of from $50.00 to $300, and not exceeding the amount claimed by plaintiff, with sufficient sureties, to the effect that, if the defendant recovers judgment, the plaintiff will pay all costs that may be awarded to the defendant, and all damages that he may sustain by reason of the attachment, not exceeding the sum specified in the undertaking, and that if the attachment is discharged on the ground that the plaintiff was not entitled thereto, the facts required in the above not being existent, the plaintiff will pay all damages which the defendant may have sustained by rea. on of the attachment, not exceeding the sum specified in the undertaking. Banks, Savings. A savings bank may purchase or hold; (1) Real Estate, furniture, flxtures, etc., in which its business may be conducted. (2) Property mortgaged or held in trust on account of 0  0  0  ~,t~~°t~~:  ~~~o~itiobee~t/nelt~tc c~)s~)i:ct!>ui: rn~ere!t t~~~in~ of the United 8tates (2) bonds of the State. (3) Bonds of any state which ha not defaulted in payment of either principal or interest within five y · ars. (4) Bonds of any county, city or town or school, road, sewer, drainage, reclamation, protective or sanitary district, organized under the laws of the state, t,o limited amount. (5) Bonds of any county, city or town of any state of a population of more than 200,000 and an entire bonded indebtedness less than fifteen per cent of the taxable property, wher·e interest or principal has not been defaulted within five years. (6) Bonds of railroads organized under tbe state and operating exclusively therein or of railroads operating at least 500 miles of standard gauge tract, or of any railroad corff p';~!1~e~~h~~efn ~fc~1~e~hebKeihe~1~~~~c;~~~ as required by st.atute. (7) Bonds of Public Utility corporations, incorporated under the laws of the State of California, provided t,he properties ancl earnings, et.c .. a1·e as required by statute. (8) Notes or bonds secured by first lien on real estate to sixty per cent of its market value. (9) Collateral trust bonds or notes secured hy deposit of authorized bonds fifteen percent in excess of such collateral bonds or the deposit of such bonds and other securities twenty per cent in excess of such collateral bonds, provided the market value of the authorized bonds deposited equal such collateral bonds. (10) Bonds accepted by savings banks under the laws of New York or Massachusetts. (11) Cert.iflcates issued by corporations with a paid up capital stock of not less than $100,000, secured upon real estate  ~~1;;~~°of:Ii~~~~s Federal Reserve Bank of St. Louis  1858  BANKING AND COMMERCIAL LAWS-CALIFORNIA  and guaranteed in the manner required by the Bank Act. ~ ~o savings bank must loan money except on adequate security on real or personal property and such loan must not be for longer than ten years. It must have a paid up capital stock graduated from $25,000 when located in any place of less than 5,000 population, to $300,000 when the population is in excess of 200,000. Savings banks organized without capital stock must have a reserve fund of $1,000,000. The capital · stock and surplus of savings banks, must equal ten per cont to and including $2,000,000 deposit liabilities, must exceed seven and one half per cent of deposit liabilities from S2,000,000 to $5,000,000, five per cent from $5,000,000 to $15,000,000, two and one-half per cent from $15,000,000 to $40,000,000 and one per cent of deposit liabilities in excess of $40,000,000. A surviving husband or wife or next of kin of any deceased person may, w:lthout procuring letters of administration, withdraw any sum deceased may have had on deposit in any savings bank if the sum does not exceed $500.00. Banks. The business of banking may be carried on only by corporations organized for that purpose under the Bank Act. The capital stock and surplus of commercial banks must exceed ten per cent of deposit liabilities. Such corporation are classified as : Commercial, 8avings or Trust companies, and, together with building and loan associations, are conducted under the supervision and inspection of a 8tate Superintendent of Banks, to whom such banks must sub1 0 :itaa~a~t~J~1~e[;: fa~ ~r~a;t~re m~~ ~~eeif o~l!~~~ gaged in the banking busine. ·, or use the word bank, savings or trust company in connection with his business. Every bank may  £~~  ~fictcif !it~=ef~i!l 1~~i~r~1:si~fi~~~iJo ~~~~\~!1o~t!~~~~ to $25,000, or both or either departments in conjunction with a trust department if the ame amount to $125,000. If the population of a locality is from 5,000 to 25,000 a capital of $50,000 is required for a savings and commercial department and $150,000 for both or ..3ither in conjunction with a trust department. If the population is from 25,000 to 100,000 a capital of $200,000 and 5400,000 respectively, is required; if the population is over 200,000 a capital of 300,000 and 500,000, respectively, is required. Every bank must designate the character of its busine . A bank organized under the laws of another state must comply with all the requirements of the State Bank Act, set apart to its business conducted here the surplus paid up stock requiFed of California corporations, and constitute, the State Superintendent of Banks its agent for service of process. A banker has a general lien dependent upon possession of all property in his hands belonging to a customer for the balance due to him from such customer in the course of business. The same capital stock is required of commercial banks as of savings banks. (See savings banks.) With some exceptions no commercial bank can lend more than ten per cent of its capital stock on unsecured loans or twenty-five per cent upon security worth at least fifteen per cent more than the loan so secured, but a commercial banlc may buy or discount bills of lading or exchange drawn against actual value or buy and di ·count commercial paper, not to exceed twenty-five per cent of its capital and surplus. Bills and Notes. 'I'he Uniform Negotiable Instruments Law is in force. Statutes of 1917. Chapter 751. Chattel 1\-Iortgages may be made on any personal property, including growing crops and fruits, except personal property not capable of manual delivery, articles of wearing apparel and personal adornment, and the stock in trade of a merchant, provided that when said personal property refers to fixtures or equipment of a merchant. seven days' notice must be giYen, otherwise the ame is void as to creditors of the mortgagor. In the absence of delivery and cont.inued change of possession, the chattel mortage will be void as to creditors of the mortgagor unless acknowledged or proved, certified, and recorded, as required in cases of grants of real property and accompanied by affidavits of all the parties that it is made 1n good faith, and without any design to hinder, delay or defraud creditors. Such mortgages mu t be recorded in county it is situated in and if removed to another county a copy of mortgage must be recorded in county within 30 days or mortgagor must take possession. Collaterals. Are governed by the law relating to pledges of per• sonal property. A pledge is a deposit of personal property by way of security for the performance of any act. Delivery of the thing 1 f~~!gaetc~,;oi~~~t~~ ~~rt~vehi"J: ~~~ p1~di:ee i~a~~~s d!11~ !t~1~ei; in part, the pledgee may collect what is due to him by the sale of the property pledged. But before the property can be sold the pledgee must demand performance thereof from the debtor, if he can be found, and must give actual notice to the pledgor of the time and place at which the property pledged will be sold, a.t such a reasonable time before the sale as will enable the pledgor to attend, but notice of the sale may be waived by the pledgor at any time. The sale must be by public auction and must be for the highest obtainable price. After the sale the pledgee may deduct from the 11roceeds the amount due and the nece;;sary expenses of sale and collection, and must pay the surplus to the pledgor. The pledgee, or a pledgeholder, may purchase the property pledged when th;e same is sold at public auction. A pledgee can not sell any evidence of debt (collateral) pledged to him, except the obHgations of governments, states, or corporations; but he may collect the same when due. Contracts. Certain contracts are invalid unless the same or some note or memorandum thereof is in writing. ( ee Statute of Frauds.) A contract for personal services cannot be enforced for over two years. Conveyances. An estate in real property, other than an estate at will or for a term not exceeding one year, can be transferred only by operation of law, or by an instrument in writing, subscribed by the party disposing of the same, or by his agent thereunto authorized in writing. Leases of agricultural land for a long~r period than ten years and of city property for a. longer period than fifty years are void, A fee simple title is presumed to be intended to pas by a grant of real property, unless It appears from the face of the grant that a Ies er estate was intended. A grant of real property may be made in the following form: "I, A. B., grant to C. D. all that real property situated in (insert name of county) county, tate of alifornia., bounded (or described) as follows: (Here insert description, or if the land sought to be conveyed has a well-established descriptive name, it may be described by such as for instance: 'The Norris Ranch.') Witness my band this (insert) day of (insert month), 19A. B.'' The use of the word "grant" implies the following covenants: 1. That previous to the time of the conveyance the grantor had not conveyed the same estate, or any right, title, or interest therein to any person other than the grantee. 2. That such estate :Is at tho time of the execution of the conveyance free from incumbrances, done, made, or sufl'ered by the grantor. Subsequently acquired title passes by operation of law to the grantee, or hi. sueco · 'Ors. Instruments entitled to be recorded must be recorded by the county recorder of the county in which the real property affected thereby is situated. Every conveyance of real property, acknowledged or proved and certified and recorded as prescribed by law from the tlme it is filed with the recorder for record, is constructive notice of the contents thereof to subsequent purchasers and mortgag es, and every conveyance of real property other than a leruse for a term not exceeding one year is void as against any sebsqeuent purchaser or  mortgagee of the same property, or any part thereof, in good faith and for a valuable consideration, whose conveyance is first duly recorded. Corporations. Private corporations may be formed by the volun• tary association of any three or more persons, in the manner prescribed by statute not to exceed fifty years. A majority of such persons must  ~~;~~~!! Flr t!~chtt~~vi~~i;i:t~~~rra~Jlf~~~a~: t~::s8e1v~~~ The number of directors of corporations for profit, except those mentioned as excepted, may be increased or diminished, by a major• ity of the stockholders of the corporation to any number, not less than three, who must be members of the corporation. A copy of the articles of incorporation, certified by the secretary of State, must be filed with the county clerk of every county where the corporation purchases, acquires or locates property, within sixty days after such purchase or location. Upon filing the article of incorporation in the office of the county clerk of the county in wbich the principal business of the company is to be transacted, a copy thereof, certified by the county clerk, with the secretary of State, the secretary of State must issue to the corporation over the great seal of the tate a certificate that a copy of the articles containing the required tatement of facts has been filed in his office, and thereupon the persons signing the articles, and their associates and successors, shall be a body politic and corporate by the name stated in the certificate, and for a term of fifty years, unless it is in the articles of incorporation otherwise stated, or in the code otherwise specially provided. A copy of any articles of incorporation flied in pursuance of this chapter, and certified by the secretary of State, must be received in all the courts. and other places as prima facie evidence of the facts therein stated. (See Foreign Corporations.) All stocks is asse sable for the purpose of paying debts and meeting expenses but no single assessment must exceed 10 per cent. The franchise of all corporations as distinct from its tangible property is subject to taxation . Each stockholder of a corporation is individually and personally 1 ~!b~a1°~ cfe~rt~nt({! tl~t~~1bi~iJi~1i:1e~urt:!e~1i; him bears to the whole of the subscribed capital stock or shares of the corporation, and for a like proportion only of each debt or claim against the corporation, but such liability is barred within three years after the obligation is incurred. Any creditor of the corporation may institute joint or several actions against any of its stockholders for the proportion of this claim, payable by each, and in such action  !ii~JrCbf  ~~:~tt  !~~i; d~f!~1!.~t3fsc~r!t\~. t~~Jri~~~~~~ %~i~~:imm~;:le~: f~~n~::~~ against each in conformity therewith. If any stockholder pays his 0  g~o~a:;i~~c~fst~~kh~idh;r, dl;; i~r~~iet~~ 1~~~r!~~nf~1~e:ei:o~1 liabilities for such debt; and if an action has been brought against him for such debt, it shall be dismissed as to him upon his paying the costs, or such proportion thereof as may be properly chargeable against him. The term "stockholder" extends to every equitable owner of stock, although the same appears on the books in the name of another, and also to every person who has advanced the installments or purcha,;e money of stock in the name of a minor, so long as the latter remains a minor; and also to every guardian or other trustee who voluntarily invests any trust funds in the stock. Stock held as collateral security, if fact of pledge appears, or by a trustee, or in any other representative capacity, does not make the holder tbertiof a stockholder, except in the case above mentioned, so as to charge him with any proportion of the debts or liabilities of the corporation; but the pledgor, or person . or estate represented is to be deemed the stockholder as respects such liabilitie ·. In corporations having no capital stock, each member is individually and per onally liable for his proportion of its debts and liabilitie , and similar action may be brought against him, either alone or jointly with other members, to enforce such liabilities as by this section may be brought against one or more stockholders, and similar judgments may be rendered. Courts. Terms and Jurisdiction. Jm,tices' courts have civil jurisdiction: 1. In actions arising on contracts for the recovery of money, only if the sum claimed, exclusive of interest, does not amount to $300, and the jurisdiction of a justice of the peace in all cases where money judgment is recoverable is limited to 5300. 2. In actions for damages for injury to the person, or for taking, detaining. or injuring personal property, or for injury to real property, where no issue is raised by the verified answer of the defendant involving the title to or possession of the same, if the damages claimed do not amount to 300. 3. In actions to recover the possession of persona.I 0  s:rgo  ~~ :&i8~io~s tfc,~ :a~:. °te~~f~.pi~1}~~1!it~~=sngf~!~~~~gtio given by statute, or the ordinance of an incorporated city or town, where no issue is raised by the answer in olviug the legality of any tax, impost, assessment, toll. or municipal fine. 5. In actions upon bonds or undertakings conditioned for the payment of money, if the sum claimed does not amount to 300, though the penalty may exceed that sum. 6. To take and enter judgment for the recoverY of money on the confe. · ion of a defendant, when the amount confessed, exclusive of interest, does not amount to $300. 7. Also concurrent jurisdiction with the superior courts, within their respective townships in actions of forcible entry and detainer, where the rental value of the property entered upon or unlawfully detained does not exceed $25 per month, and the whole amount of damt>.ges claimed does not exceed $200. Also in actions to enforce ancl foreclose liens on personal property, where neither the amount of the liens nor the value of the property amounts to 300. Superior Court. '.rhe jurio;diction of the superior court is of two kinds: 1. Original. 2. Appellate. The superior court has original jurisdiction in all cases in equity; in all civil actions in which the subject of litigation is not capable of pecuruary estimation; in all cases a.t law which involve the title or po ·session of real property, or the legality of any tax, etc., and in all other cases in whir.h the demand, exclusive of interest or the value or the property in controversy, amounts to $300; of action of forcible entry and detainer, of proceedings in insolvency; of actions to prevent or abate a nuisance: of all matters of probate, of divorce and for annullmeut of marriage; and of all such special cru e and proceedings a are not otherwise provided for. They also have power to issue writs of mandamus, certiorari, prohibition, quo warranto, and of habeas corpu,; on petition by or on behalf of any person in actual custody in their respective counties. Injunctions and writs of prohibition may be I sued and served on legal holidays and non-judicial days. The superior courts• have appellate jurisdiction in cases ari ing in justices' and other inferior courts in their respective counties provided the appeal be taken within thirty days of the judgment. District ourts of Appeal. The tate is divided into three appellate districts, each of which has a court of appeals with three justices. These courts have appellate and original jurisdiction. The general line of demarcation between the supreme court and these courts Js the amount of money or the value of the property involved. The district , courts of appeal have appellate jurisdiction on appeal from the superior courts in all cases at law in which the demand exclusive of interest or the value of the property in controversy amounts tD $300 and does not amount to 2,000; al.·o in all cases of forcible entry and detainer (except such as arise in the justices' courts); in proceedings in insolvency, and in actions to prevent or abate a nuisance; in proceedings in mandamlL'l, certiorari and prohibitioV  BANKING AND COMMERCIAL LAWS-CALIFORNIA usurpation of office, contesDing elections and eminent domain, and  in such other special proceedings as may be provided by law (except-  ing in cases in which appellate juri5diction is given to the supreme court); also on questions of law alone in all cases prosecuted by indictment or information to a court of record, excepting criminal aid courts also cases where judgment of death has been rendered. have appellate jurisdict.ion in all cases, matter· and proceedings pending before the supreme court which shall be ordered by the supreme court to be transfer-red to a district court of appeal for hearing and decision. Supreme Court. Ha.s original and appellate jurisdiction. In the exercise of original jurisdiction it shall have power to is.·ue writ of mandamus, certiorari, prohibition,. and habeas corpus; it shall also have power to issue all other writs necessary and proper for the complete exerci e of its appellate jurisdiction. The supreme court has appellate juri diction in all cases in equity, except such as arise in the justices' courts; also in all cases _at law which i~volve the title or possession of real e tate or the legahty of any tax, 1mpo t, assess!'.?Jent. toll or municipal fine, or in whicJ?. the demand exclusive of interest or the value of the property in controversy amounts to $2,000; al5o in all such proba~e matt!)r~ as may be provicleq. by law; 1  h~:  1  :pt::d~~g;:~~ ~ri~:tl1w:;ii~~ifr~~d:;~3f rh:~~f:t~i~tc~~o diction in all ca es, matters and proceedings penclin~ before a district court of appeal which sha_ll be order~d. by the supreme court to be transferred to itself for hearmg and dec1s10n. Depositions. The deposition of a witness out of this State may be taken upon a commission issued from the court under the seal of the court upon an order of tho court, or a judge or justice thereof, on the application of either party, upon .five days' previ~u~ notice to the other. If the court be a justice's court, the comm1ss1on shall h3:ve attached to it a certificate under seal by the clerk of the superior court of the county to the efl'ect that the person issuing. tl)e same was an acting justice of the peace at the date of the commission. If is.•med to any place within the United States, it may he directed to a person agreed upon by the parties, or if they do not ~gree, to any notary public, judge or ju~tic~ of_ the. pecae or ~ommi. ·s10ner selected by the court or judge or Justice 1ssumg it. If issued to any country out of the United States, it may be directed to a minister, ambassador, consul, vice-consul, or consular agent of the United. States in such co:un_try, or to any person agreed. UJ?On by the P!lrties. The comm1ss1on must authorize the commJSS10ner to adfillni:ter an oath to the witness. The testimony of a witne~ out of tho tat~ may be taken by deposition in an action, at any trme ?-fter the. sernce of .the SUDlllJ.ons or the appearance of the defendan.t; ID a special _proce~d_mg, at any time after a question of fact bas arisen therein. Depositions must be taken in the form of question and an ·wer. The wo:rd · of the Witne must be Wl'itten down, in the presence of the witne s, by the officer taking the depo ition or by ~ome inditreren~ pe~on appointed by him. It may be taken down m short hand in whic!J. case it mu. t be transcribed to long hand by the person who took it d(?wn. When completed, it must be c?rofull)'. rea<;I to or b~ _the witness and corrected by him in any particular. 1f de. ired, by wr!t!ng, or cau ing bis corrections to be written at_the bottom of t~e deposition, and must than be ::mbscribed by the witness. Corrections must be initialed by officer before whom deposition is taken. If the parties ~~riiu~~"J.iting to any other mode, the mode so agreed upon must Depositions in this State. The testimony of the witne. in this State may be taken by depositions in an action at any time after the service of summons or the appearance of defendant, and in a special Proceeding after a question of fact has arisen therein, in certain enumerated cases. Depositions for Use out of the State. Any party to an action or special proceeding in a court or· before a judge of a sister state, may obtain the testimony of a witness residing in t~i · tato, to l:>e used in such action or proceeuing, in the cases ment!oned following: If a commission to take such testimony bas been issued from the court, or a judge hereof before which such action or proceeding is pending, on producing' tho cornmis. ion to a judge ot' the supe!'ior court With an affidavit sati factory to him of the materiality of the testimony, he may issue a subprona to the witness, requiring him to appear and testify before the commissioner named in the commission, at a specified time and place. If a commission has _not. been issued and it appear to a judge of the s~perior court, 01· a JUS~1ce of the peace, by affidavit satisfact,ory to hin1: 1. That the te_st1_mony of the \vitness is material to either party. 2. That a comn11 ion to take testimony of such witness ha not been ii:;sued. a. That ~ccording to the Jaw of the State where the action of special proc~eding 1s pending, the deposition of a ~vit~e · t~keu und_er . -~1cb c1rct1?1stance ·, and before such judge or Justice, will be i:e~e1ved m t~e action or proceeding he murt issue a subpcena requmug the w1tne. s to appear and te' tify before him at a spoci.fled t~me. and place. Upo? the .appearance of the witn~. ~• tbe Judge or JU."?tlce must cau~e bis testtmony to be taken in wr1tm~. and must certify and transm\t t~e same to the court or judge before whom the action or proceedmg is Pending, in such manner as the law of that tate reqmres. De cent and Dhitribution of Property. Property, both real and personal of an intestate pa es to his heirs. A . urviving wife succeeds to one-half of the community propert;Y, i. e., _all property ~CqUired by husband or "ife during the marria~e. "h1<;h does not lllclude property acquired by either husband or w1fe by ~1ft, bequest, devise or de;;cent which is separate property. Dower mtere t does not exist. The separate estate is distri1?utecl as follows: If the decedent leaves a surviving husband or wife and only o_no child, or the lawful i 'UC of one child, in equal :>bares to the s~1r_dvmg husband or wife and child or issue of such child. If a urn vmg hushancl or ~ife and more than one child living, or one child )iving and the l~w_ful issue of one or more deceased children, one-thu·d to the sury1vmg husband or wife and the remainder in equal shares to Urn chd~ren and to the lawful' issue of any deceased child by right of roprescnta~10n. But if there be no child living, the remainder goes to. all tho !meal descendants, and if they are in the same de~ree of kmdred to _the decedent they share equally,. o~herwise by r1gh~ or represcntat10n. If the decedent leaves no surv1vmg husband or wife, the whole estate goes to the issue--the issue of children taking by right of repre entation. If there is no issue the e tate goes one-half to the s~rviving husband or wife and the other half to the fathe1· and mother m equal shares, or, if one be dead, to the survivor; if there be no father or ~other, then their ono-half goes in equal sl:!ares ~o tho brothers and sisters or to their representatives. If there 1s no i.·sue, or lm ·band or Wife, the estate goes to the father and motbet', or the survivor. or, if both be dead then in equal shares to tho brothers anc.l. si ·ters, and to the children of any doccas d brother or istcr by right of representation. If the decedent leaves a surviving husband or wife, and neither issue, father, mother, brother, nor sister, tho whole e.~tate goe to the surviving bu. band or wife. If the decedent leaves neither issue, husband wife, father, mother, brother, nor sister, the estate Illust go to the next of kin in equal degree. Illegitimate children Inherit from mother, also from father if recogniz d in writing but can only inherit directly and not by ropre. entation. Th ·e are the Principal provisions of the law of succe ion. Tenancy by the cour~ tesy is not known to our law. If the person dies testate, all property Pas es as directed by the will. Federal Reserve Bank of St. Louis  1859  Executions. May issue any time within five years from entry of judgment and after lapse of five years the judgment may be enforced or carried into execution by leave of court upon motion, or by judgment for that purpose, founded upon supplemental proceedings. No right of stay exists except by order of the court in its discretion. Execution may issue against the property of a judgment debtor after his death, only if the judgment be for recovery or real of personal property, or the enforcement of liens thereon. Real property may be redeemed within one year, personal property not at all. Exemptions. The following property i e empt from execution: 1. Chair'. tables, desks, and books, to the value of S200. 2. , ec • sary household, table and kitchen furniture belonging to the judgment debtor, including one sewing machine, stoves, stove-pipes and furnl-  ~f{tai~~t:;~~ga~Rfi!\,~~·~:~~~~ ~1n~:tt~a~n~a~~:tf1~trt5e 1  family, and family portraits, and their noce ·sary frames, provisions and fuel actually provided for individual or family use sufficient for three months, and three cows and their sucking calves, four hogs with their sucking pigs, and food for suc-h cows and hogs for one month, one piano, one shotgun, and one rifle. 3. The farming utensils or implements of husbandry not exce cling in value the sum of $1,000; also two oxen or two horses, or two mules, and their harne s; one cart or buggy and two wagons, and food for such oxen, horses or mules for one month; also all iseed, grain, or vegetables, actually provided, reserved or on band for the purpose of planting or sowing at any time within the ensuing si: months, not exceeding in value the sum of $200, and seventy-five bee hives, and one horse and vehicle belonging to any person who is maimed or crippled, and the same is necessary in his business. 4. The tools or implements of mechanic or artisan necessary to carry on his trade; the notarial seal, records, and office furniture of a notary public; the instruments and chest of a surgeon, physician, surveyor, or dentist, necessary to the exercise of their profession, with their professional libraries and necessary office furniture; the professional libraries of attorneys judges, ministers of the gospel, editors, school teachers and music teachers and their necessary office furniture, Including one safe and one typewriter, also the musical instrwnents of music teachers actually used by them in giving instructions; and all the indexes, abstracts, books, papers, maps, and office furniture of a searcher of records necessary to be used in his profe. sion; also the typewriters or other mechanical contrivances employed for writing in type actually u.s;ed by the owner thereof for making his living; also one bicycle when the same is used by its owner for the purpose of carrying on his regular business, or when the same is used for the purpose of transporting the owner to and from his place of business. 5. The cabin or dwelling of a miner not exceeding in value the sum of $500; also his sluices, pipes, ho e, windlass, deiTick, cars, pumps, tools implement·, and appliance nece sary for carrying on any minin~ 0 i~~r1;~~is, ~~~e~~e:f~fe!~ ~l~e~!fr ~~::,~~ a;~mf<>°Jd ig~:s:!:ie for one month, when necessary to be used in any whim, windlass,  h!!  ~~~~fcit~olcti: E~mh~ntn~iisJ~!e~~~· iiin~:i~-~ Two horses, two oxen, or two mules, and their harness, and one cart or wagon, one dray or truck, one coupe, one hack or carriage for one or two horses, by the use of which a cartman, truckman, huckster, peddler, hackman, teamster, or other laborer habitually earns his living, and one horse with vehicle and harness, or other equipments used by a physician, surgeon, con table or minister of the gospel in the legitimate practice of his profession or business, with food for same for one month. 7. One fishing boat and net, not exceeding the total value 500, the property or any fl ·herman by the lawful use of which he earns a livelihood. 8. Poultry, not exceeding in value $75. 9. eamen's and seagoing fishermen's wages and earnings not exceeding $300. 10. The earnings of tho judgment debtor for his personal services rendered at any time within thirty days next preceding the levy of execution or attachment, where it appears by the debtor's affidavit or otherwise, that such earnings are necessary for the use of his family, residing in this State supported in whole  ~~~i~~r~!~  ~~r~~l.a~; ~rs ~~Trc!a~:nr~i!n~ fo~.e~t:~~~~~ i~~~!~~i~l ;Prif!~~~  have been incurred at a time when the debtor had no family residing in this State, supported in whole or in part by his labor, the onehalf of such earnings above mentioned are nevertheless subject to execution, garnishment, or attachment to satisfy debts so incurred. held by a member of a homestead association duly 11. The shar 0 1 1 0 •n~it t~!c~~!~f 0~ av~~~e~le~~ ·u~ct!~etiftri~s ~~ State. 12. All the nautical in trument' and wearing apparel ot any master, officer, or seaman of any steamer or other vessel. 13. All engines, hook and ladders, with carts, trucks, carriages, ho e. buckets, implements. and apparatus thereunto appertaining; and all furniture and uniforms of any fire company or department organized under any law of this 'tate. 14. 11 arms, uniforms and accoutrements required by law to be kept by any person, and aho one gun to be selected by the debtor. 15. All court houses, jails, and town, county, and State buildings; all public buildings, grounds, places, etc. 16. All material purchased for use in the construction, alteration, etc., of any building, mining claim, etc., not exceeding the value of 1,000. 17. All machinery, tools, and implements necessary in and for boring, sinking, putting down, and constructing surface or artesian wells; also the engine neces.·ary for operating , uch machinery, implements, tools, etc.: also all trucks necessary for the transportation of such machinery, tools, implements, engines, etc., to the value of 1,000. 1 . All moneys, benefits, privileges, or immunities ac ruing, or in any manner growing out of any life insurance  ~1 1~~  ~\;~~!t1~  ~~'i~~~!t,~~ci~ i~~~~sd~f t~t~c~ j~e ~yni>~il~~~~~:inJ ~ot~e the value of Sl.000. 20. Pen ions from the United States Government. Nb article, however, or species. or property mentioned in this section, is exempt from exe<·ut ion issued upon a. judgment rect>vered for its price or upon, a judgment of foreclosure of a mortgage or other lien thereon. (For Homestead Exemptions, see Homestead.) 0  \1~  fo~~  l!'raud. (For Fraudulent Debtors, see Arrest.) Any contract obtained through fraud is voidable. Consent Is deemed to have been obtained through fraud only when it would not have been giYen had such cause not existed. Actual fraud consists in the uggestion as a fact of that which is not true, tho positive assertion of that which is not true in a manner not warranted by the information of the person making it though be believes it to be true, the suppression of that which is true by one having knowledge of it, and promio;es made without any intention of performing, or any other act fitted to deceive. 'oustructivc fraud, consists of a.ny breach of duty, which without an actual fradulent intent, gains an advantage of t.he person in fault by mi-;loacling another to his prejudice. Actual fraud is always a question of fact. pon receiving inil,ruction in writing from the <?ai:ni hn:ient. p)a111ttff or his attorney that any person,ias in hi.· posse. sion, or under his contt·ol, any credits or other p rsonal property belonging to the defendant or is owing any debt to the defendant, the sherur must serv upon such person a copy of the writ aud a notice that uch ~redits, or other property_ or debts, a.-; the e· so may be, are attached. m pur. l!-ance of s~ch writ. All _Person having any such property at the time of sernng of uch wnt, unle , it i:s delivered up or trans- Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-CALIFORNIA  1860  ferred or paid to the sheriff, shall be liable to the amount of such credits, property, or debts, until the attachment be discharged, or any judgment by him recovered be satisfied. Homestead. The homestead consists in the interest of the claimant, divided or undivided, in the dwelling how e in which the claimant resides, and in the land on which the same is situated, selected. if the claimant be married, from community property, or the separate property of the husband. or, with the consent of the wife from her separate property. When the claimant is not married, but is the head of a family, the homestead may be selected from any of his or her separate property. The homestead can not be selected from the separate property of the wife without her consent, shown by h~r making or joining the declaration of homestead. The home. tead 1s exempt from execution or forced sale, except in satisfaction of judgments obtained: 1. Before the declaration of homestead was filed for record and which constitutes liens upon the premises. 2. On debts secured by mechanics' contractors', sub-contractors', artisans', architects', builders', laborers' of every class, materialmen's or vendors' liens upon the premises. 3. On debts . ecured by mortgages on the premises, executed and acknowledged by the husband and wife of an unmarried claimant. 4. On debts secured by mortgages on the premise , execuued and recorded before the declaration of homestead was filed for record. In cases not enumerated above, in which, after a judgment has been docketed again t the homestead claimant, and an execution for its enforcement levied on the homestead, it may be shown by an appralsement applied for to, and ordered by, the court, after proper proceedings, that the homestead exceeds in value the amount of homestead exemption. Then steps may be taken, if it can be done without material injury to the land, to divide the property and reach the excess. The homestead of a married person can not be conveyed or encumbered unle the instrument by which it is conveyed or encumbered is executed and acknowledged by both husband a.nd wife. Home teads may be selected and claimed: 1. If not exceeding $5,000 in value, by any bead of a family. 2. If not exceeding $1,000 in value, by another person upon death of either spouse if homestead is selected from community property or from separate property of spous~ joining therein, title thereto vests in survivor otherwise to the heirs or devu es of the person whose property was selected. Husband and Wife. The husband is the head of the family. He may choose any reasonable place or mode of living, and the wife mu<;t conform thereto. In other respects their interests are separate. Neither husband nor wife has any interest in the separate property of the other, and either may enter into any engagement with the other or with any other person, respecting property, which either might if unmarried. All prop~rty of either, own_ed by him or 11:er before marriage, and that acquired afterward by gift, bequest, devise or descent. i · the separate property of such person. All other property acquired after marriage by either husband or wife or both, is community property, but wheneYer any property is conveyed to a married woman by an instrument in writing, the pre:;umption is that the title is thereby vested in her a her separate property. The bu band has the management and control of the community property, with absolute power of di~posal other than testamentary, provided that he cannot make a gift of the same or convey the same without valuable con. ideration, unless the wife con ·ent in writing. Tbe community property is not liable for the contracts of the wife made after marriage, unlc ·s secured by a pledge or mortgage thereof executed by the husband. The husband is not liable for damages or torts committed by wife except in a case where be would be jointly liable with her if the marriage did not exL-.t. The separate property of the husband is not liable for the debts of the wife contracted before marria~e and the ·eparate property of the wife is not liable for the debts of her husband, but is liable for her own debts contracted before or afte1· marriage. A husband and wife may bold property as joint tenants, tenants by entreaties, tenants in common, or as a communiLy property upon death of wife entire community property goes to husband. whereas on death of husband wife gets one half of community. Interest. The legal rate of interest is 7 per cent and is due upon judgments after rendition and upon other obligations unle there ls an express contract in writing fixing a different rate. The parties may agree on a higher rate of Interest and on the compounding of same. but personal property brokers may charge not to exceed 2 (two) per cent per month. Judgments. (See Actions.) Upon filing the judgment roll, which is a record of the proceedings in the case, it must be docketed by the clerl<, whereupon it be~omes a lien UPOJ? any real property of ~ judgment debtor not exempt from execution in the county which the said judgment debtor own at that time, or which he may thereafter acquire. This lien continues for five yeai:s, unless ~be enforceme::it of the judgment be stayed on appeal. A Judgment 1s barred by the act of limitation withln five years, unless revived by leave of court upon motion or by an action upon the judgment. Judgment must first be satisfied out of property of the judgment debtor which bas been attached and in the cu..,tody of the sheriff. Liens. J.\,lechanics, material-men. contractor·. sub-contractors. artisans, architects, macbinbls, bullders, znim·rs, teamste!'5, draymen and all persons and laborers of every class performmg labor upon or furnishing material to be used in or furnishing appliances, and power contributing to the construction, alteration, or repair of any building, wharf, bridge, ditch, flume, aqueduct. well, tunnel, fence, machinery, railroad, waf!:on road, or other structure, have liens upon the property upon which they have worked or furnL':lhecl material, and any person performing labor in a mining claim bas a lien upon the same, and the works owned and used hy the owners for reducing the ores from such mining claim, for the work or labor done. 'l'be common carrier bas a lien upon the luggage of a passenger for the payment of his fare. One who :;ells real property ,has a vendor's lien thereon. Improver,; of per ·onal property, depo ·iraries for hire veterinary surgeon. , livery stable keeper and persons pasturing hors'es or stock, bave a special lien, dependent upon possession. !~actors banks, and laundry proprietors have a p:enera lien. dependent on po session, on any personal property in their hands. Seaman have general lien: independent of po. ses.,,;ion. Owners of anin1als u-;ed for propairatin[ purposes have a lien for the agreed  g~\~: aufJ'~tJ~; tf!1fe~.intrave i1f:: ti;!~e~~tfr ~h~"~~~u~~ ~u~ fgr 0  0  their personal services. Every person performing work or labor in, with, about, or upon any threshing machine or engine, borse-powe1·. wagon, or other appliance thereof, while en~aged /n threshing, has a lien tbe~eon to the extent of the value of bi:; services, for ten days after ceasmg work or labor, provided within that time, an action is brou~ht to recover the amount of the claim, persons repairing or altering af!Y personal property have a lien for the reasonable value of such service. Ltmltalion.. If real estate ls held adversely for five years, such adverse po, ·e Jon ripens into title if claim11:m I~a_ys tax~s for flye years, 1  0  it  1  1  :~;i~fe~afo~i~h~ ~i::;e~~~nr:~r ~c~?o~~/~~t~~ ~han o~\~:r~~~~f:r°; of real property, are as follows : Within five years; (I) An action upon a Judgment or decree of any court of the United States. or of any State within the L'nit.ed t.ates. (2) An action for mesne profits of real property. \Yitbin four years: (I) An action upon any contract. ubligation or liability founded upon an instrument in writing,  executed in this tate. (2) An action to recover a balance due upon a mutual open and current count or upon an open book account. ·within three years: (1) An action upon a liability created by statute, other than a penalty or forfeiture. (2) An action for trespass upon real property. (3) An action for taking, detaining or injuring any goods or chattels, including actions for the specific recovery of personal property. (4) An action for relief on the ground of fraud or mistake, the cau e of action in such case not to be deemed to have accrued un;il the discovery by the aggrieved party of the facts constituting fraud or mistake: Within two years: (1) An action upon a contract, obligation or liability not founded upon an instrument of writing, or founded upon an instrument of writing executed out of the State. (2) An action on a debt. liability or obligation evidenced by an abstract, guarantee or certificate of title; and such action shall not be deemed to have accrued until the discovery of the loss or damage. (3) An action against a sheriff, coroner, or constable, upon a liability incurred by the doing of an act in bis official capacity, and in virtue of his office, or by the omission of an official duty, including the non-payment of money collected upon an execution; but this subdivision does not apply to an action for an escape. Within one year: (1) An action upon a statute for a penalty or forfeiture, \\hen the action is given to an individual or to an individual and the 'tate, except when the statute imposing it prescribes a different limitation. (2) An action upon a statute, or upon an undertaking in a criminal action, for a forfeiture or penalty to the people of this State. (3) An action for libel, slander, assault, battery, false imprisonment, or seduction, or for injury to or for the death of one caused by the wrongful act or neglect of another, or by a depositor against a bank for the payment of a forged or raised check. (4) An acLion against a sheriff, or other officer, for the escape of a prisoner arrested or imprisoned on civil ~~~~J~ies(ib tr°o;~;f~nc!~~~5t:; ~~{;iEt~i~~~po{~figfnrii~ ~~~t';~ (1) An action to recoYer property seized by tax collector. (2) To recover corporation stock sold for delinquent assessment. To actions  g~~1~~ :~~icgi:p~u°;,eir°ia~~:~ ~~cfY~~ ~~~?e1;~dt~~;~ i!nJo~t~:  tation. If when the cau e of action accrues against a person, he is out or the ~tate. tl1e action may be commenced within the term herein limited, after bis return to the tate, and if, after the cause of action accrues, he departs from the tate, tbe time of his absence is not part of the time limited for the commencement of the action. And if the person entitled to bring the action be, at tho time the action accrued, either a minor, insane. impri ·oned for a term less than life. or a married woman, and her husband is a necessary party with her in commencing such action, the time of such disability is not a part of the time limited for the commencement of the action. No acknowledgment or promise Is sufficient to take a case out of the operation of the statuLe of limitation , unless the same is In writing, signed by the party to be charged. Part payment will not take the case out of the statute of lin1itations. ·where a cause of action bas arisen in another State, and would be barred by the statute of limitations of that 'tate, an action cannot be maintained here. There is no limitation upon actions to recoYer money or property with banks or trust companies. ( ee Accounts.) !\tarried ,von1en. \Vben a married woman is a party to an action her husband must be joined except: (1) When the action concerns her separate property including torts for personal injuries. homestead property and actions between herself and husband or when she is living separate and apart from her husband by reason of bis desertion or by an agreement in writing. A married woman may become a sole trader by the judgment of the superior court of the county in which she bas re ided for six months next preceding the application. The husband of the sole trader is not liable for any debts contracted by hel' in the course of her sole trader's business unle~s contracted upon his written con."ent. A matTied woman maY convey without consent of her htL'-band, and is not liable for the debts of her husband, but is liable for her own debts contracted before or after her marriage. She may contract as a femme sole so as to bind her separate property. The wife may make'a will of her separate property. The earnings of the ·wife arc not liable for the debts of her husband, Mechanics' Liens. (See Liens.) Mortgages. Any interest in real property which is capable of being transferred may be mortgaJ?;ed. A mortgage can be created, renewed. or extended only by writing executed with the formallties required in the case of a grant of real property. Every transfer of an interest in real property, other than in trust, made only a':l the security for the performance of any act, is to be deemed a mortgage, and the fact that the transfer was made subject to defcasance on a condition may, for the purpose of showing such transfer to be a mortgage, be proved (except a,; again ·t the subsequent purchru:;er or encumbrancer for value and without notice) although the fact does not appear bY the terms of the instrument. A mortgage i · a lien upon everything that pa.,ses by a grant of the property. A mortgage does uot entitle the mortgagee to the possession of the property. The assignment of a debt ·ecured by a mortgage carries with it the security. When a mortgage i. · sat bfled or the mortgage indebtednes.s paid, the mortgagee must atisfy the mortgae;e of rerord under penalty. a mortgagee may foreclose the right of redemption of the mortgag_ee. unless expressly stipulated the mortgage is not a personal obligat10n on part of mortgagor. Note!'! and nms or Exchange. ( ee Bills and Notes.) Pledge. ( •e Collaterals.) Powers or Attorney. An attorney in fact may be appointed for any purpo e for which an a~ency can lawfully be created. Powers odf attorney can onlf be conferred by an instrument in writing subscribe by the prinf'ipa which must particularly specify the power:; con~ ferred. If the instrument contains a power to convey or executde instrument.' affecting real property, it mu t be duly acknowledge and mu.,t IJe recorded in the county within which the real propertY to be conveyed or afl'ected is situated. ·o such instrument which bas been so recorded is revoked hy any act of the party by whom it w1>'l executf'd. u11less the Instrument containing such revocation is also acknowledited or proYed, certified, and recorded In the same omce in which the instrument containing the power was recorded. When an attorney in fact executes an instrument transferring an esta_te in real property, he must subscribe the name of bis principal to it, and his own name as attorney in fact. Probate Law. ( ee Administration or Estates, Claims agait}St Estate!< of decea-; d p r,-ons. Des<'ent and Distribution.) The ·upepor court ha Jurbdictiou of proc edings in probate. and such proceedings must be instituted (1) In the county in which the decedent was a re ·ident; (2) in the county in which be may baYE! died, leaving esta~e therein, he not being a resident of tbe State; (3) in the countY Ul which any part or the estate may be, if the decedent died out of th! tate and was not a resident. (4) In any county in which any par of the estate may be, or the decedent not being a resident of the State nor leaving an estate in the county of death. (5) In other <?1-"es where application is first made, any per ·on interested may petition for probate of a will or may contest such probate within one ye~• An mventory and appraisement i. required of the executor or adwiD· istrator within three months. Upon the return of the inventory tb1 court may set apart for use of the survi\·ing bu. band or wife, or. 0 , the minor chlldren, all the property exempt from execution includ1DJf  BANKING AND COMMERCIAL LAWS-COLORADO any homestead selected, providing the same was selected from the common property or from the separate property of the person selecting or joining in the select-ion of thf) same. If none has been selected, the court must select designate and set apart and cause to be recorded a homestead for the· use of the surviving husband or wif'.e, or of the minor children, or if there be no surviving husband or wife, t!'J.en for the use of the minor children out of the common property, 9r if there be no common property, then out of the real_ e tate belongmg to t!1e decedent. Property so set apart is not subJect to further admim'-tration. If upon the return of the inventory it appears that the value of the whole estate does not exceed $1,500, the court may set apart the whole of the estate for the use and support of the family of the deceased. Protest. (See Bills and Notes.) Replevin. There is no action of rep!evin in this_ State, but the action of claim and delivery substantially takes its place. The plaintiff in an action to recover the possession of _personal property may at the time of issuing the summons, or at any_ time before answer, claim the delivery of such property. An affiday1t must he mad_e }?Y the plaintiff or by some one in his behalf showmg that the plamtiff is the owner of the property, or entitled to its possession, that the property is wrongfully detained by the defendant, the alleged cause of detention thereof, and that it has not been taken for a tax, ~essment or fine, or seized under an execution or attachment, or if _so seized that it is exempt; also the actual value of the property. Plamtifl' must also give a bond in double the yalue of the pr_ope~ty. The defendant may give to the sheriff a written underta}.<mg m dou~le the value of the property, and retain the same1 b)-lt m c3:se he f3:ils so to do the property is delivered to the plamt1ff. Third parties ~ay upon affidavit of ownership, claim s~ch propert1 a{!,d ecure Its release under bond . The judgment m such actH:m 1s in the alternative for a return of the property or for its value 1Il case a delivery can not be had. Sale of Stock Shares. Permit must be obtained from State Corporation Commissioner. Statute or Frauds. A will must be in writing, except a nuncupative will. (See Wills.) An agreement not to be p~rformed Within a year from making it must be in writin!!':; also a special promise to answer for the debt, defraud. or miscarriage of another; also agreements made in consideration of marriage other than a mutual promise to marry. An agreement for the sale of goods and chattel<; or things in action at a price not less than $200, unles · the buyer accept and receive part of the same or any part of the purcha<;e money. No estate in land will pass other than lea.'!es not to exc~ed one year, unless in writing. An agreement authorizing or employ~ng an agent or broker to purchase or sell real estate for compensat10n or for a commission. An agreement by its terms not to be perform~d in the lifetime of the promise or to make, devise or bequeath by ~vill. No evidence is admissahle to charge a person upon repr~sent3:t1_011s as to the credit of anoLher, unless the representations be m wr1tmg. However where promisor has received property to apply. pursuant to promise or a discharge of an obligation in consideration of the promise, or where a creditor parts with value or where the n~w ~rom1se is substituted for the old debt, or where levy or execution 1s released or there is benefit moving to promise from any party or where a factor undertakes for a commission to guarantee a sale, contracts to answer for the default of another need not be in writing. Transfer of personal property capable of manual delivery, except wine in cellars and tanks. when not accompanied by delivery and change of poS! ession are deemed fraudulent as to third parties unless notice of intention of sale is recorded fl ve days before transfer is made in accordance With law. Supplementary Proceedings. When ~n execution is r~turned 1:tnsatisfled, the judgment creditor can obtarn ~n oc:der reqmnng the Judgment debtor to appear and answer concernmg Jus property_bef~re the judge or referee appointed by him, also, in case after the 1ssumg of an execution, upon proof by affidavit that the judgment de}:>~or I?,as Property which he unJusLiy refuses to apply toward the sat11:;fact1on of the judgment the judge may make the order, and instead thereof. if it appear that' the debtor is about to abscond, he may, by order of the judge, be arrested and required by ~im to ~ive sec~rity for the judgment, or that he will attend from t1~e to ~1me durmg ~he pe_~dency of the proceedings, and that he ~ill not m the me~11t1me dispose of any portion of his property, and m default of security he may be committed to prison. Ta,i:es. On the fir t lV[onday of December of each year taxes become delinquent, except the last installment <:Jf the real pro"Qerty taxes, and thereafter 15 per cent is added for cl~lmque!1cy; provided, ~hat if they be not paid before the last 1\Ionday m .April next succee~mg, 5 per cent is added for delinquency. On the l~t _Monday m April of each year all the unpaid portion of tbe remammg one-half of the taxes on all 'real property is delinquent, and thereafter 5 "Qer cent i added for dellnquency; and provided _further, tha~ the entire tax on any real property may be paid at the time tl?,e first mstallmo?t a\l above provided is due and payable; and provided further, that the taxes on all personal property, uu ecured by real pro~erty, shall be due and pavable immediately after the assessment of said personal Property is Public Utility corporations are taxed for t_he support of the State other property is taxed for county and city Purposes. _Wills. Every per. on over the age o_f eighteen years, of ~ound Inmd, may, by last will, di, pose of all his estate, real and p~rso~1al. A married woman may dispose of all her separate estate by '':Ill_ w1~hout the consent of her husband, and may alter or revoke the will m like ~anner as if she were single. Her will must be executed and pro".ed in like manner as other wills. Every will other than a nuncupat1".e W\II must be in writ,ing, and every will other than an holograp~1~ win and a nuncupative will, must be executed and attested as f(?ll0"s. l. It must be subscribed at the end thereof by the testator hnns~lf. or some person in bis presence, and by his direction ~ust subscribe his name thereto. 2. 'l'he subscription mu t be made m the 11re ence of the attesting witnesses, or acknowl~dged by _the testator to them to have been made by him or by bis authority. 3. The testator must. at the time of subscribing or acknowledging th~ san:ie, declai·e to the attesting witnes.os that the instrument is his will, !1nd 1· There must be two attesting witnesses, each of whom must sign h1s name as a Witness at the end of the will, at the testator's request, and in his presence and in the presence of each other. An holographic will is one that is entirely written, dated, and signed by the hand of the testator hin1 elf. It is subject to no other form, and lll!),Y be made in or out of this St!tte, and need not be wi~nessed. A W1tne&.;; to a will hould always write his name and residence. All devises or gifts to a subscribing witness are void unle · there are two Other competent subscribing Witnesses. No will made out of this St.ate is valid as a will in this State, unless executed according to the 0 :1~~ohnihoef tt~t~t~~eirs edg~~it~!tat tfi:g~iits d~~\t~!;.;g1~;11~ M a Will under the law of such State or country is valid in this State ~s to per. onal property. ·wms proven out of state may be recorded 1n county where testator has left over estate. Bequests for charity are void unless made than thirty days b efore death and must in no case exceed moremore than one third of the e tate unless there are no legal heirs. \Viii<; are revoked by marriage ~;~~S:r~rovision for the same or an intention not to provide clearly  r:  ti!~  118 Federal Reserve Bank of St. Louis  1861  SYNOPSIS OF  THE LAWS OF COLORADO RELATI TG TO  BANKING AND COMMERCIAL USAGES Revised by MESSRS. GARWOOD AND GARWOOD, Attorneys at Law Denver. (See Card in Attorneys' List.) Acknowledgments. Of deeds and instruments concerning rea estate may be taken as follows: 1. 'Within thls State. before any judge, clerk, or the deruty clerk of any court of record, clerk, and rec?rder of any count_y, ?r h!s deputy, or notary public, or before any ju. t1ce of the p_eace w1thm his county. 2 Out of this State and within the Umted States before the secretary of any such State or 'I'erritory, tbe clerk of any court of record, any notary public, or any commlssioner of deeds for any such fo1·ei~n Stato or Territory appointed under the laws of this State· before any other officer authorized by the laws of any such State 'or Territory to take and certify such acknowledgment: provided, there shall be affixed to the certificate of such officer, ot,her than those above enumerated, a certiflcat.e by the clerk of some court of record of the county, city or district wherein such officer resides, under the seal of such court, as to the official capacity, true signature and authority of the person certifying such acknowledgment. 3. Out of the United States. before any judge, clerk1 or deput_y clerk of any court of record of any foreign kingdom. empire, republic state' principality, province, colony, island possession or bailiwick, befor'e the chief magistrate or other chief executive officer of any province, colony, island po. essio.n or bailiwick, before ·the mayor or chief execuLive officer of any city, town, borough, county or municipal corpora.Lion, having a seal, or before any aruba'iSador, minister, consul, consuJar agent, cba~ge d'af!a.ires, commercial ageI?,t, or any vice consul, etc., or any d1plomat1c consular or commer_c1al agent or repre entative, or deputy of any thereof, of the Umted States or any other government or country appointed to reside in the foreign country or place where the acknowledgment is made, each and all certifying same under his official seal. 4. Out of the State, and within any colony, island possession or bailiwick of the United States, before any such officer as above enumerated in relation to acknowledgments in foreign countries (except ambassadors, etc.) or before any notary public, having a seal. Actions. The di tinction between the forms of actions at law and suits in equity is aboli ·hed. All actions must be prosecuted by the party in interest, and are govemed by a code of civil procedure. Admini~tration of Estates. All demands not xbibited in twelve mont.hs are barred, unless such creditor can find otner e:tate of the deceased not inventoried, saving, however, to femmes covert, persons of unsound minds, imprisoned or beyond the seas, the term of one year after their di ability has been removed to exhibit their claims. Creditors having liens on the pro[lerty of the decedent can not foreclose for one year unless permitted by the court, and in no event until tho claim has been allowed. Administration is granted to surviving husband or widow, or next of kin of an intestate. if tbey will accept or are not disqualified; if no such relative appears within twenty days after death of inte tate, admini tration may be granted to a creditor; if no creditor appears in ten days after twenty dayg from death of intestate, or if next of kin files written relinquishment county judge may select administrator. In counties having a population of more than 50,000 on default of relatives administration is by public administrator. An abbreviated form of administration is provided fore ·tat s of, 2,000 or less. (See Wills; JI usband and Wife; Descents and Distributions.) Agent. (See Partnerships.) Aliens. annot hunt or possess fir arms. Arbitration. Difl'erences may be submitted to arbitration by consent of the parties in the form prescribed by st,atute, and a judgment may be entered by the clerk of the District Court upon the finding of the arbitrators. Arrest. Imprisonment for debt, except in cases where one refuses to deliver up his estate for the benefit of his creditors, or in cases of tort or wheee there is a strong presumption of fraud. is abolished. In civil actions founded upon tort, where tbe finding is in favor of the plaintiff and the verdict state that defendant was guilty of fraud; malice, or willful deceit, execution may issue against the body or the defendant, but not where the defendant shall have been convicted in a Cl'iminal proceeding for the same wrong. Imprison- Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-COLORADO  1862  ment shall not exceed one year, and the prisoner is relea ed upon payment of the debt. The writ of ne exeat is granted under proper circumstances. (See Fraudulent Purchasers.) As bmment. Assignments for the benefit of creditors may be made in accordance with provisions of the Assignment Act. Assignments of wages not covered at the time of the assignment, or of other sums to become due to the assignor, are invalid unles recorded with the recorder of the county where the wages are to be earned, or the sums are to become due, within five days from date thereof. If the assignor is a married man or woman. residing with the wife or husband, he or she must join in the assignment. There are also provisions regulating assignments to wage-brokers and others. Attachments. In actions on contracts, express or implied, the 0  g~~iti~ ~ttibl~arie t~iiig~~~n~~:nor ~?[~YaMj!~~f~f ,~rn~~~\i; agent or attorney, setting forth the amount and nature of the debt claimed, and one or more of the following grounds of attachment: 1. That defendant is a non-resident. 2. A foreign corporation. 3. A corporation whose chief office or business is out of this State. 4. Is evading service, or has been absent from State for four months, while debt has been overdue. 5. Is about to remove his property out of State. 6. Has fraudulently conveyed, or (7) fradulently concealed or removed or disposed of his property, or (8) and (9) is about to do either, or has departed or is about to depart from this ·tate, with the intention of having his effects removed from this tato. 10. Has failed or refused to pay the price or value of any article delivered to him to be paid for upon delivery, or (11) of any work or labor performed, or for any service rendered by plaintiff, for defendant, to be paid for upon completion. 12. That the defendant fraudulently contracted the debt, or procured the money or property of the plaintifl'. In justice courts, the fact that the debt is for farm products. house rent, household furniture and furnishing, fuel, groceries and provisions, clothing: and wearing apparel for the debtor or his family, is additional ground for attachment. Garnishee process will issue in aid of attachment when money or property of the debtor is found in possession of third persons, property of non-residents and ab conding debtors can be attached as in most other States. Bank , State. Any number of persons, not less than , three, may engage in the business of banking: the capital ·tock must not be less than from $10,000 to 50,000 dependent upon population, all of which must be paid in cash before commencing banking busine , and certificate thereof filed. Generally no bank may take as security a lien on any part of its capital stock; nor take as security a lien on  :i~:  tr~t~~r p~~~Jt ~~r th~k!o~l :g~~?o1 n~K F;rr~~; tt:rs<;Ji~~l nor may it hold or purchase any portion of its own  any other bank; stock, or of the capital stock of any other corporation, unless such purchase is necessary to prevent loss upon a debt previously contracted in good faith, or in other peculiar circumstances. Stock so purchased must be sold within three years, and sooner if this can be hareholder · in done without impairing the bank's investment. banks, savings banks, tru t depo it and security associations shall be held individually responsible for debts, contracts, and engagements of said association in double the amount of the par value of the stock owned by them respectively. Any banker, bank officer or employee who receives money or property after he shall have had knowledge of the insolvency of said bank, shall be deemed guilty of a felony, and, on conviction, punished by imprisonment in the penitentiary for not more then twenty years, or hy a fine of not more than $2,000, or both, and in addition shall be individually responsible for the property received. Failure of the bank or banker within thirty day after receipt of such money or property is prima facle evidence of knowledge of the insolvency at the time of such receipt. Loans to any one individual or corporation are limited to 20 per cent of the paid in stock and surplus of the bank. Loans secured on real estate limited to 25 per cent of total interest bearing securities and to a period of three years, but further loans allowed secured by first mortgage on real e ·tate worth double amount of loan linlited to 50 per cent of o bank may engage in saving deposits and to a period of five years. trade or commerce; or acquire realty, except such as is nece - ·ai·y for its busine · or such as is necessarily acquired in the protection or sati ·faction of previously existing loans made in good faith. Any realty o acquired must be sold in five years, or sooner if po ·ible. :No director may borrow money in exce · · of 10 per cent of the capital and surplus, without the consent of a majority of the directors other than the o bank shall loan to any officer or employe thereof. borrower. ational Banks, are under the supervision of the All banks except State Bank Commissioner who examines each institution at lea.·t twice yearly. If he finds capital impaired, he requires the bank to make up deficiency, or takes posse. sion for purpo es of liQuidation, as circumstances may require. Insolvent banks may be placed in control of t-be 'tate Bank Commissioner. Usually no receiver can be appointed, nor can a bank make an assignment for creditors. Every bank makes reports of it condition to the commi 'ioner five tim . yearly. . o bank can do busine. without a certificate of authority from the commiidoner. ·aving - banks are subject to the tate banking law under a number of special provbions and re ·triction ·. Bills of Exchange. ( ee Commercial Paper.) Bills of Lading and Promi ory . . otes. (See Commercial Paper.) Chattel .M ortga~e when recorded are good for two year.- whore sum secured does not exceed 2,500; for tl ve years, when sum does not exceed $20,000, and not exceeding ten years where sum secured exceeds $20,000; but if the sum secured be greater than $2,,->00 mortgagee must annually record statement stating that the mortgage secures a bona fide indebtedne.· ·, the portion which has b en paid, and Lhe amount . till due. Chattel mortgages may be extended after maturity, but not more than thirty days after maturity, by filing an executed instrument of extension of mortgage with the county recorder. As between the parties thereto, all chattel mortgage are good until the indebtedna-;s is paid or i barred by the statute of limitations. .M ortgages of stocks of ~oods which reserve po. session and power of. ale to mortgagor, are void as against creditors and bona fide purchaser·. Di.-posing of mortgaged property is larceny. Chattel mortgagee, his agent or attorney, now allowed thirty days after maturity of deht in which to take po ·e sion of mortgaged chattels, and during said thirty days, or until pos: ession is taken by mortgagee, hb agent or attorney, the mortgagor shall have the right to _pay said debt and have mortgage dLscharged ll.! if debt had been paid at maturity. Chattel mortgages, . ecuring the purchase price of any articlo may, at any time within thirty days after the maturity of the indebtedno.·s, be extended by the mortgagee for a period not exceeding two years, and for like periods thereafter. mortgages upon household goods used by the family, when made by husband or wife re ·iding with the other, must be mado by husband anq wife jointly. ollatcral . Persons holding stocks n corporations ll.! collateral security not per.-onally liable as stockholders for corporate debt·. A pledgee of stock may nevertheless represent same at corporate meetings. Transfer of .-tock either iu pledge or otherwi!· , must bo noted on the book of the company within ::,ixt.y days or the transfer ,void for some purpo ·e ·. Commercial J>aper. To be negotiable, au in trumcnt must contain an unconditional order or promise to pay to order, or to bearer,  a certain sum of money or demand, on at a fixed or determinable time or times. The instrument may authorize that upon default of payment of any installment, or of interest, the whole shall become due, and in case of non-payment, the sale of collateral securities, or confe ·sion of judgment, or waiYe benefit of any law intended for the advantage of the obligor. An instrument payable on contingency is not negotiable. The date expressed is prima facie the ,~fe d;~flior?t;e t~  s~,~~f{~ gf~~g~f~~:g~~i;rui:u9s~t ?ea~fr~~;  g~u?/a v~~U:J?:r:;~~e~atPt~a ~a~~cl~~daet1on !af{t~4T~m~ to a bolder for value with notice. Two or more payees, unless partners. must all indorse unless one has authority for all. An instrument payable to a person as cashier or other fl.seal officer of a bank or corporation is deemed prima facie payable to the bank or corporation, and may be indorsed by the corporation or by the officer. For one to be a holder in due course the instrument must be complete and regular, and taken ln good faith for value before overdue, and without notice of any infirmity in the instrument or defect in title. Holder is deemed prima facie holder in due course; but when the title of a person who has negotiated it is shown to be defective, the burden is upon the holder to prove himself a holder in due cow-se. A qualified indorser warrants the genuineness of the instrument; that he bas a good title, and that he bas no knowledge of any invalidity. An unqualified indorser warrants the instrument valid and ub ·isting. One indorsing an instrument negotiable by delivery is liable as indorser. Except when excused, pre.-entment for payment, or acceptance, on the day when due is necessary to charge drawer or indorser of an instrument. Presentment must be made on due day, and notice of non-acceptance of non-payment given on next business day to all parties primarily liable unless one has authority for all. Every negotiable instrument is payable at the time fixed without grace. ·w aiver of protest Is deemed a waiver of formal protest, presentment, and notice of dishonor. Prote. t is required only in case of dishonored bills appearing on their face to be foreign. It is optional in case of other negotiable instruments. Bills drawn and payable within this State are inland; others are foreign. Parties secondarily liable are discharged by extension of time of payment. Payment by a party secondarily liable, unle an accommodation party, does not discharge the instrument, but he may agin negotiate it. A qualified acceptance discharges drawer and indorser unless they assent. A.- ent is pre urned after notice, unle · · they dissent. Ilold r can refuse to receive a qualitled acceptance. No pre.. entment for payment is necessary after non-acceptance. A note drawn to maker's order is not complete unle. indor ·ed by him. A check must be pre ·ented within a reasonable time or drawer will be di ·charged to the extent of the lo caused by the delay. The bank is not liable to the holder until it accepts or certifies the check. \,hen not otherwi e provided by this act, the law merchant prevails. 'l'his act applies only to instruments executed on or after July 20, 1807. All instruments falling due on Sunday or holiday are payable the next business day. In Denver. during June. July and August, .::aturday from twelve o'clock noon until twelve midnight is a holiday, but negotiable instruments falling due on Saturday are payable and protestable on Saturday or next business day at the option of the holder. The provisions concerning commercial paper in this state are practically the ·ame as in all state where the ... Tegotiable Instruments Act has been adopted. Con,·eyances. ... ·o joint tenancy in real property unless expressly declared in the deed, except in certain particular cases. Unless so declared grantees shall be deemed tenants in common, Lands ~ ot necessary for wife to join not in po · ·ession may be conveyed. in deed except in a conveyance of or a mortgage of a homestead, entered as such of record. \Yitne · es are unnece.-sary. . eals are not necessary but a printed or ink seal i advisable. Unacknowledged deeds are doomed notice from the date of filing but they can not be read in evidence unle.-s subsequently acknowledged or proved, unle · they are on record for over thirty years. ( ee Acknowledgment·; Husband and Wife.) Corporation . Three or more per. ons may form a corporation by filing a certificate in the proper offices, tating t-he name. objects for which organized. amount of capital ·tock, nwnber of bares (not Je.,;s than 1. 00 or more than 100. 00 per share), term of exiJ tence (not to exceed twenty year,;, except in particular cases), number of directors (not le· than three or more than thirteen), and names of those to manage the corporation for the first year, the place where principal office is to be k pt, and counties in which its business i,; to be carried on. If part of the company's business is to be carried on beyond the limits of tho ,. tate, that fact shall also be stated in the certificate. The c-ertiflcate shall also tatc whether or not cumulative voting shall be permitted. Fee for filing Article· of Incorporation of dome tic companie · i 20. and 20 cent · on each thousand dollars in exce.- of 50,000. Foreign corporation 30, and 30 cent· on each thousand dollars in exce ' of 50,000 represented by capital, property and as ets employed and located in olorado. Directors of a mining or manufacturing corporation cannot encumber the mines or plant of such corporation until the question has been submitted to the stockholders and a majority vote of all the hares of tock bas been made in favor of such proposition: and -uch mortgage or encumbrance umula.tive method of without such con ·ent is ab ·olutely void. balloting for directors is permitted. , tockholders are liable for corporate debts to the amount unpaid upon the . tock, except that stockholders in bank.-, avinl?S banks, trust, deposit, and security ru ·ociatiou · are indi iduallv reHponsible in double the amount of the par valyc of their ·tock. \Vnen the tock becomes fully paid up, a certificate to that effect should be filed. The directors are required annually, and within sixty day - from January 1st, to fl.le a report stating the amount of tho capital stock the proportion actually paid in. and the amount of existine; debt. , together with many other particulars. \ failure to tile such report makes all the director· and officers of tho company jointly and everally liable for all the debts of tho company contracted during the year next precerling the time when such report should have been flied, and until such report shall be made and filed, and ubJect.,; pre ident and _. -retary to a fine of not le than 1,000. ... ~o meetin · of the boarll of directors can be held out ide the .'tate unle · · so provided hy tho Articles of incorporation. Corporations may be di! olved b:r a two-thirds vote of the entire tock. A cori:ioration under the la s of olorado, maY extend it charter by ·peclal meeting of the . tockholclcrs, called orporate lifo shall be by 10 per cent of the entire> capital ·tock. renewed for entire term, not e ceeding twenty years. Foreign corporations doin bw,ine · in this 'tatc arc not allowed a longer term of corpor te exist n e than dom tic corporations of like character. but must tll ren wnl certlfl ·ate. and pay fee.- therefor in the sam • manner as <lorn stic corporation .. pruvitlod that such renewal must not ext 11d th life of th foreign corporation beyond the ter!Il fixed by the :tato wllcre it was organized. (,enerally no foreign corporation shall have or o. erci any corporat powers or hold or acquire any real or per onal property, franchi e-. rhtht . or prh·ll~~s. or be permitted to do any hu-,in · or pr ecute or defend any mt 1n thi 'tato, until it hru tiled in the proper ofUce copy of it." charter and incorporation act, and de ilmated an a nt upon whom service o! proce: · can b made, nd until all pr, cribed fee inclullin~ license tax. ·hall hav' b en paid, and until I,· uancc of a c rtificate setting forth uch full pa~'lll0Dt. In addition to all otber re~. and ta,res. every dome tic corporation shall pay on or before the fir ·t day or .May or each year, an annua1 0  BANKING AND COMMERCIAL LAWS-COLORADO State corporation license tax to the secretary of the State of Colorado, of ten dollars on a capitalization of one hundred thousand dollars or less and ten cents on each one thousand dollars or fractional part thereof, when the capitalization is more than one hundred thousand dollars, and every foreign corporation shall pay at the same rate upon that proportion of its capital, property and assets located and e~[i!~dp~~s~~~~t the Revenue bill, approved August 4, 1917, and this act regarding annual reports, assessment of tangible and intangible property, etc., too voluminous to be quoted, make it advisable that care should be exercised by both domestic and foreign corporations operating in the State to acquaint themselves fully with its requirements. (See Guaranty Companies; Trust Companies; Transfer of Corporation Stock.) . Courts. Justices of the peace have jurisdiction in matters involvmg less than 300, county courts in matters involving less than $2,000, except in the administration of estates, where jurisdiction is unlimited. The district court is the court of general jurisdiction. The supreme court is the court of final appeal, and also has some original jurisdiction, as in cases of habeas corpus, mandamus and other remedial writs. Days of Grace. Are abolished. (See Commercial Paper.) Depositions. The deposition of a witness out of the State shall be taken upon commission issued by the clerk of the court where the suit is pending on the application of either party on five days' ~revious notice to the other, which notice shall be accompanied 0  t! ~i~J  ~t!r~~';;~~i::X.!~l~P~~a~efh;°p;~iie~o~ss~~Y ~[ ~a~ Judge or justice of the peace, or to a commissioner appointed by the to take affidavits and depo itions in other States State the of governor and Territories, or to a notary public. The adverse party may file ~d have attached to the commission such cross-interrogatories as  t{;e ~!io~!f~~·oriif;~i~. ~~~na~~~~e~Yd:~t;~o~~~;i ~b~~~a~~ order of court directing it to be so taken. Depositions can be taken at any time after starting suit. Descents and Distributions. The estate of an intestate descends one-:\}alf to the surviving husband or wife, and the residue to the surviving children and descendants of children, if any; if none, then the whole descends to such surviving husband or wife. Except ashilenumerated the e tate of every intestate descends: 1. To his cth dren urviving, and the de cendants of his children who are dead, e descendants collectively taking the share which their parents wthould have taken if living. 2. If no children nor their descendants, en to his father and mother. share and share alike, and if one dead, t~en to the other; if no father or mother, then to his brothers and sthisters, and to descendants of borthers and sisters who are dead, e descendants collectively, taking the share of their immediate ancestors in equal parts. 3. If none of the foregoing living, then to the grandfather, grandmother, uncles, aunts and their dEl! cendants. the descendants taking collectively the share of their immediate ancestors in equal parts. 4. If none of the relatives above enumerated be living, then to the nearest lineal ancestor and their descendants, the descendants collectively taldng the share of their immediate anfcestors in equal parts. All posthumous children or descendants o the intestate, inherit as if born in the lifetime of the intestate, andllall children of the half blood and all legally adopted children sha .iD?erit as children of the whole blood. Illegitimate children inh er1t if parents subsequently intermarry. Dower. Common Law Dower and curtesy are abolished, as such, binut .statutory half of husband and wife in each others estate is given beu of old common law dower and surtesy. (See Statutes.) Executions. Executions may be issued where no appeal is taken, and when placed in the hands of an officer become a lien upon all pe~so)'.lal property of the debtor not exempt, in ~he county to whiqh it 1s issued, and it may be directed to the sheriff of any county m the State. Executions may issue upon judgments at any time after five days from judgment and within twenty years from the date of entr:y but from and after twenty years from the entry of judgment. it is considered satisfied unless revived as provided by law. Debtor or legal representative has sb: months to redeem land from sale under execution. Judgment creditor has three months after expiration of said six months. Judgments can be made a six year lien on real ~~a~:a~fe~i~t~r s~£u~t~r:i~ transcript with recorder of the county where 0  Exem1>tion . Homestead, consi ting of town house and lot or lots, or of any farm to the value of not to exceed $2,000, i · exempt, When such home ·tead has been entered of record as such, and is occupied by a householder the head of a family. Personal property exempt include all wearing apparel of the debtor and his family Pictures, school books and library, beds and bedding, stoves, cooking utensils, and household furniture. not exceeding '100; provisions and fuel for sb: months; tools, implement , or stock in tr~de, up to $200; one cow and calf ten sheep and necessary food for six months; wor!{ing animals up to' 200; the l!brary and impleme;its of a ~rofe ·1onal man up to 300 · one bicycle and one sewmg machine. Persons not tho heads of fanlilies are entitled to tools, working animals, and stock in trade not exceeding $300 in value. When debtor is hea~ of family, or wife of bead of family, 60 per cent of. wages d~e at time of levy under execution, attachment, or garm hment, 1s exempt, when such family resides in the 'tate and i dependent, wholly or partially upon such earnings for support. If uch wages do not exceed 5. oo per week at the time of levy, they are entirely exempt. Fraud. Parties to any fraudulent sale of any lands, goods or chattels, or who conceal, secrete, remov~ 01: dispose of any go_ods or chatt,els, or are parties to any bond, su~t. Jud~me!1t. or execut1<;>n, contract or conveyance had made, or contrived ,y1th mtent to. d~ce1ve and defraud or defeat hinder or delay creditors; are crrmmally liable. One 'who purchases goods on credit under au a,<;sumed or fictitious name with intent to defraud the seller; or having purchased goods on credit shall, with intent to defraud the seller, sell, hyp_otbecate, or otherwise dispose of them out of the usual course of busmess, or secrete himself, or abscond, shall be guilty of a mi ·demeanor. Frauds, Statute or. The following must be in writing: Contracts for leasing of land for period longer than one year or ~or the ~ale of lands or any interest in land ; every agreement wh1ch by its terms is' not to be performed within one_ year_: evefY special Promise to answer fo1· the debt, default or miscarriage of another; every agreement, promise, or und_ertaking made upon consideration of marriage except mutual prolillSes to marry, and every contract for the sale 'or any goods, chattels, or things in action, for the price of $50 or more unless the buyer accepts and receh"e part of such goods or the e,·ideuce of some of them. or the buyer at the time payg part of the purchase money. ( ee Sales of Personal Property.) Garnishment. ( ee Attachments.) llolidays. 1'he following are legal holidays in Colorado: First day of January. 12th day of February. 22nd day of February. 30th day of May. 4th day of July. 25th day of December. Thanksgiving Day, .Arbor Day, being 3rd Friday in April. Colorado Day, being August 1st. Labor Day, being first ~londay in eptember, Columbus Day, being 12th day of October. In addition to the above, Federal Reserve Bank of St. Louis  1863  Saturday is a legal half holiday during June, July and August in all -ot all cities of Colorado having a population of 25,000 and over. tho above are legal holidays for every purpose. personal real, property, separate their Husband and Wife retain and mixed owned at marriage, and any such property which shall come to either of the~ by descent, devise, or bequest, or the gift uch property of the of any person, for their own separate use. wife is. not liable for the husband's debt . Wife may carry on trade or busmess, sue_and be used, contract debts,. and execute prombsory notes, bonds, bills of exchange, and other mstruments precisely as if sole and may convey real estate without the husband joining in the deed. Any chattel mortgage upon, or sale of, the household goods used by the family, and any conveyance of, or mortgage upon a homestead, and any assignment of future wages, or sums to become due in the futurt:, _when. made by husband or wife residing with the other, must be JOJned ID by that other. A married woman may make a will, but neither husband nor wife shall devise or bequeath more than half of his or her property away from the other without the consent in wTiting of the other, executed after death of the testator or of testatrix. Marriage revokes a will previously made. 'l'he husband is liable for the debts and liabilities of the wife contracted before marriage to the extent of the real and personal property he may receive with or through her, or derive from the sale or rent of her lands. and no further. The expenses of the family and the education of the children are chargeable upon the property of both husband and wife, and in relation thereto they may be sued jointly or severally. Either husband or wife living together can , eparately declare property of record in the name of the other "A Homestead " either can mortgage by an entry of record over his or her ignature. nor convey homestead without the signature of the other. Interest. The legal rate is 8 per cent, hut any other rate may be flx~d by agreement with the exception of loan - of $300 or less upon which the maximum rate is 12 l)Cr cent. .b.:ight per cent is allowed on overdue (londs, hills, promissory 1~ott.,>s, ~nd judgments. ( 'ounty tow~ .. and. city warrants a.od other like evidences or certificates of muruc1pal mdebtedness bear 6 per cent interest from pre eotation. Judgments. A transcript of judgment may be filed in the office of the county clerk and recorder of any county in the State and thereupon such judgment becomes a lien upon all real property owned by the judgment debtor in that county. The lien holds for six years from the date upon which filed (and successive transcripts may be fl.led.) An unsatisfied judgment should be revived every twenty year·. ( ee Executions.) Limitations. Actions for the recovery of land must be brought within twenty years after accrual of right. Actions for the recovery of lands actually occupied by another under a connected title deducible of record or under tax or execution or other sale ordered by court must be brought within seven years after possession taken If title is acquired after taking pos ession, statute runs from date of acquiring title. Actual posses ion of land for seven years under claim and color of title with payment of all taxes for said period constitutes the possessor owner according to the purport of his paper title. 'rhe same is true of vacant and unoccupied lands, unless someone with a better paper title pays the taxes for one or more years during such term of seven years. Actions of debt founded upon contract express or implied; upon judgments of courts not courts of record; for arrears of rent; of assumpsit--or case founded on any contract; for waste and trespass on land and for replevin, mu t be begun ,vithin six years after the cause of action accrues. Actions against sheriffs and coroners, for liability incurred by them in their official capacity, shall be brought ,vithin one year after the cause of action accrues, also actions for assault and battery, false imprisonment, slander and libel; also actions for penalties or forfeitures of penal statutes. Bills of relief for fraud must be filed within three years after discovery, in case of a trust not cognizable by the courts of common law within five years. In actions accruing out of the State upon contract, express or implied, or upon any sealed instrument in writing, or judgment or decree of any court, more than six years before the commencement of the action the statute of limitations may be pleaded in bar of recovery. If a judgment has been rendered without this State more than three months before suit in this State, and is based on a cause of action more than six years old such cause of action can be pleaded in bar of the judgment. The constitutionality of this latter provision has, however, been attacked · and is very doubtful. (See 117 Fed. 400.) Married Women. (See Husband and Wife.) l\.Iechanics' Lien . Mechanics, material-men, contractors, subcon tractors, builders, miners, and all per ·ons of every class performing labor upon, or furnishing materials used in the construction or repair of any building, or any other stFucture o! improv~ment upon land, also all who have rendered their profess10nal, skilled service upon such structure, have a lien upon the property, also those who work or furnish materials or machinery for the working of a mining claim or mineral deposit shall have a similar lien. Liens rank in the following order: 1. Laborers or mechanics working by the day or piece without furnishing material. 2. 'ub-contractors and material-men' who e claims are either entirely or principally for materials, machinery or other fixtures. 3. All principal contractors. Laborers are allowed one month, material men two months, and the original contractor three months after the completion of the structure, within which to flle claim of lien. Action to enforce such lien must be commenced cl~i~d.ix months after completion of the building upon which it is l\lortgages. Ordinary mortgages on realty are in common use· also deeds of trust to a public trustee and to p1·ivate trustees. A trust deed to private trustee is foreclo ed as to a mortgaae. In case the public trustee is named, the property is sold by him a.c;; provided in the deed, after advertisement in a newspaper designated in the t~ust deed, and such adv~rtisement shall not be le. s than four weeks. t: pon a sale. by the public trustee, a certificate of sale is i sued. A subsequent mcumbrancer may redeem by paying the amount bid and the sum so paid shall be added to the amount of tho subsequent encumbrance. 'I'he grantor in the trust deed or his assigns may !'(:!deem from sa).e within six i:nonths. After six months, and within nme months, a Judgment creditor may redeem. After the expiration of the period of redemption the public trustee executes a deed to the propeFtY to the holder of the certificate of sale, which is assignable. gt~n from ales of mortgaged property the same as sale.-; under 0  !~~~~t1  Notes and Bills of Exchange. (See Commercial Paper.) Partne!' hips, Limited and Special. A limited partnership ~ay consist of one or more g~neral partners, jo!ntly and severally hable, and one or more special partners contributing a specified amount o~ or property, who are not liable for the debts of the partnership be;vond the amount so contributed. Only the genera[ partners ca~ bmd the firm. A certificate must be signed acknowledged, pubhshE:d, and. filed of record giving details of partnership All persons. dom~ bu. mess under. any n!lme other than their personal names, must file an affidavit showmg the real per ons repre~~~~~te~r a~J~!~~ not bring suit upon debts due, and may be Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-CONNECTICUT  1864  Powers of Attorney. Powers of attorney for the conveyance of lands must be acknowledged in the same manner as deeds, and must be recorded in the same county wherein the real property to be conveyed is situate. Protest. (See Commercial Paper.) Replevin. A writ of replevin may issue in any suit to recover  ~~:ss~?~h~f tr~~r~;~ ~wEe~id~ejinof~~e~t°i>n~ri~igi~u~1,e p~~~ se sion, wrongful detention and value of property, etc. Redelivery bond in similar amount may be given by defendant in forty-eight hours after levy. Sales of Personal Property. Every sale or assigm;nent of goods and chattels in the po ession or under the control of the vendor is void, as against creditors or subsequent purchasers in good faith, unless accompanied by immediate delivery and followed by actual and continued change of posse ion. Sales of any portion of a. stock of merchandise otherwise than in the ordinary course of trade are prima facie fra.dulent and void against creditors, unless seller and purchaser together, before sale, make inventory, showing quantity, and cost price of the various article ; and unle purchaser makes full inquiry of the seller as to names and addre es of all creditors of seller, and the a.mount due to each, and obtains a.n answer; and notifies each creditor of the proposed sale, the cost price, and tbe proposed selling price; and unless the purchaser retains the inventory and written answer at lea ·t six months after the sale. This act does not apply to sales by legal representatives of public officers conducting sales in their official capacity and there some other exceptions to this law. (See Husband and Wife.) Suits. (See Actions.) Taxes generally a lien on real estate until paid, as also upon stocks of goods induding new goods added thereto, Taxes may be in two semi-annual installments; the first on or before the last day of February, and the residue on or before the last day of July of the year following the one in which they are assessed. Tax  tt~:l~~~~o R:i  ~t1 ti:~  ~e~r~nh~t~~ rr~~~~r~; ~~~n ~:; re;;f~~~s estate sold for taxes redeemed any time until treasurer's deed issues. 1::1i~:fitt~?o~finltfrgraet~t~h°M1t~ c!~~s~:,n~:tia~~~mf~ad tt! taxes levied and enforced by sale of the property taxed in default  Ffe°J~~~~:?'  l::e~nc!~:tt~t~~re~fh:[ fl3:~~i~fon;bt~ ~!fia~~~;ti:. is 18 per cent per annum. Household goods to the value of $200 belonging to a head of a. family are exempt. WIils. Ma.Jes of the age of twenty-one years, and female of the age of twenty-one years, may dispose of their real and persona.I  0 ~~1;Yp~;o:~r ~~! ~=::~i~ee!~f;!!Yy:tr b~g;sr~l~~t~~~y~v~ E~ married persons, see "Husband and Wife." All wills, whether of  realty or personalty shall be in writing signed by the testator or some one for bim in his pre ·ence and at his direction, and attested in his presence by two or more credible witnes!Oes. Unless otherwise expressed in the will an after-born child will share in the property. Devises and bequests to witne ·es are null and void, unless the will be attested by a sufficient number of witnesses exclusive of such persons. No will can be revoked otherwise than by the subsequent marriage of the testator, or by burning, tearing, or obliterating the same by the testator, or in bis presence and by his direction and consent, or by another will or credit, declaring the same, duly signed and witnessed, or by a. formal annulment thereof. The property devi ed by will must be administered by the county court, and all property of non-re.-;idents must generally be administered to clear title to real property situated in this tate. (See Husband and Wife; Descents and Distrjbutions. Admiuistration of Estates.)  SYNOPSIS OF  THE LAWS OF CONNECTICUT RELATING TO  BANKING AND COMMERCIAL USAGES Revised by WM. A. ,vnraaT & SoN, Attorneys at Law, New Haven. Account . In all actions for a book debt, the entries of the parties in their respective books shall be admissible in evidence. (For limitation of actions on accounts, see Limitations to uits.) Acknowledgments. ( ee Conveyances.)  Actions. There is but one form of civil action. Mesne process in civil actions consists of a writ of summons or attachment, describ-  ing the parties, the court to which it is returnable, and the time and ~~etg~a~J~:~ ~°o~t~fonef~fig~ ~~~ ~1!fiPi;1'j~:dabi superior court, or judge or clerk of the court to which it is returnable. The complaint should contain a concise statement of the facts constituting the ca.use of action and a demand for relief, and legal and equitable relief may be demanded in the same action. except in actions before justices of the peace. who have no equity jurisdiction. Administration or Estates. The probate court has jurisdiction of deceased estates. Administration on intestate estates is granted to the husband or wife, or next of kin or to both. · On their refusal or incapacity, or upon objection by any creditor or heir to such appointment found reasonable by the court, then to any other person whom the court deems proper. Bond·. which must be furnished by the administrators or executors, are usually made double the estimated value of the persona.I property. Bonds of surety companie authorized to do business in tbe tate may be accepted. Where the will waives the bond a nominal bond is required, usually in double the amount of the debts of the te ta.tor. Deceased estates may be settled as soh·ent or insolvent. Not le · than six months limited for the pre ·entation of claims against deceased estates, whether solvent or insolvent. Such claims are pre·ented to tbe administrator or executor if the estate is solvent, or to commissioners appointed by the probate court if the estate is in olvent. Creditors not inhabitants of this ta.te may exhibit their claims against any e tate which bas not been repre ented insolvent, at any time within one year after order of notice, and if presented more than six months after order of notice, shall be entitled to payment only out of the clear e.·tate remaining after payment of claims exblbited within time limited. Suit must be brought within four months from the time of receiving written notice from tbe administrator or executor of a solvent e ·tate of the disallowance of a claim. Twelve months is the usual time allowed for the settlement of decea.,;ed estates. Administrators and executors may mortgao-e real e ·tate if sbo;n1 to be for benefit of the estate, after due application to and hearing in probate court. Affidavit,;. Civil action;; do not ordinarily have to be supported by afJldavits. A.fllda.vits have no weight as evidence, and are never admitted as such. Aliens. Any alien re ident of any of the United tates, abd any citizen of France, so long as France shall accorrl the same rignt to citizens of tbe United · tates, may purchase, hold, inherit, or transfer real estate in this State in as full a manner as native-born citizens. Arbitration. Parties to any controversy desiring to submit the same to arbitration under a rule of court, and having signed and sworn to an agreement to that effect, may, upon filing this agreement in the court having jurisdiction of the subject matter, have this agreement entered of record and obtain a rule of court that the said parties shall submit to and be finally concluded by such arbitration; or the ·aid parties may personally appear in court and acknowledge that they have mutually decided to submit their controver ·y to the arbitration of certain named per ·ons and may obtain a rule of court of similar purport; or in ca:·e of an action pending in court, if the partie · thereto de ire to refer it to arbitration, each may choo. e one arbitrator and the court appoint a third; and in either of the.·e three case·. the award of the arbitrators being returned and accepted by the court, judgment shall be rendered pursuant thereto, and e. ecution granted thereon, with costs. Arre t. The body is exempt in ordinary action for debts, except for money received by one acting in a. fldu<'ia.ry capacity, or where  °a.J~~~ii:  itc~:;a~~ftet~!a~~ ~; ~rvir ;rco~ad.~ ~.g 1~t~~~~~ ~~~~~A;, generally, no attachment shall be granted against the body except debtor committed to jail on civil process can be released for fraud. on taking poor debtors' oath. The debtor will not be released if his oath i overcome by rebutting evidence. A . lgnment in In olvency. Operation of this section suspended during continuance of U. . Bankruptcy Act. Attachment . Attachment may be made upon the original proce· ·. and i served by attaching the good. or lands of the defendant, or, if ufficient good be not found, the per.-on in actions where there is fraud in contracting the debt or concealing property or refusing to pay an admitted debt. Attachments may be granted upon all complaints containing a money demand. Supplemental attachment may be ordered by the court upon application at any time during the pendency of the action. If the plaintiff be a non-resident, he is required to furnish a l>ond for prosecution from twenty dollars to one hundred and forty dollars, according to amount attached. An attachment lien expires unle s execution is leYied within sixty days after final judgment upon the attached personal property, or within four months upon the attached real estate. ( ·ee Exemptions.) Banks. ( ee tate Banks and Trust Co .) Bill of E. change. ( 'ee .1. Totes and Bills.) Bills of Ladln . Uniform Bill· of Lading Act p~_sed In 1911. Chattel 1 fort age . ( 'ee .Mortgages, Conditional Sales, and Interest.) Collateral Inheritance or Succe · ion Tax. (See Taxes.) Conditional ale . All contract for the ale of personal prop• erty, except household furniture. musical instruments, bicycles, phonographs and phonograph supplies and uch property as is by law exempt from attachment and execution, conditioned tbat t}le title thereto . hall remain in the yendor after deliyery, must be in writing, de.scribing the property and all condltiow; or ale, and ackno" ledged before proper authority, and recorded in town where vendee re.-sides. Jf not made as required, they arc held to be ab ·olute sale . except as between the vendor and vendee or their personal represeutativ ·, A crime to conceal or convey personal property held on such conditional sale. Contract·. Ordinary pro\·i. ion· of • tatute of Frauds apply. Court of probate having jurisdiction of tbe . ttlement of the C! tate of any decease<l p rson may, concurrently with the courts of equltY, authorize the exu ·utor or a.dminl trator to convey the title of the deceased in any real estate to any person entitled to it, by virtue of any contract of ·uch deco: ed per on, and the court of probate in which the guardian of any minor h~ been appointed may, in like manner, order such guardian to convey the interE'-st or his ward in any real estate which ought in equity to be conveyed to another ontrac for the com·e. a.nee of lands or of any interest person. therein, may be recorded in the record. of the town in which such land - are: and such r cord shall be notice to all the world of the equitable int-0 t thu · created. Gaming or wagering contracts ~ontract of incapable person pending appointment or are void. conserrntor or of ·pendth.rift pendlnu: appointment of overseer, voidr when elect, men have filed ln town clerl 's office certified copy o application in ca-;e of incapable person, and c rtitled notice of propo ed appointment in case of ·pcndthrift. _ ·o person who receives a valuable com ideration for a contract, expr · · or implied, made on unday, hall defend any action upon uch contract on the ground that it was -o made until he re t re· uch con~icteration. The Uniform .'ale:s Act, pa. cd in l!.l07 c ver contract~ to ell. (See Sales by Retail Dealers.)  r~~tl  0  0  1  1865  BANKING AND COMMERCIAL LAWS-CONNECTICUT ss  ibnd ch he le.  ·cis  eir  to her urble  ted Vet' ahd  :ignt or orn the and reeave :that uch  urt  heir ay tion itra. d;  eing ered cept here able ions cept ased his  11. and  pply. state uitY, f the  ·rtue obate y, in ward other tere t such f tbe tracts nt of , void PY of f proceives made ound Uni· Sales  Conveyances. All conveyances of land must be in writing, signed, sealed, and acknowledged by the grantor, and atte ted by two subscribing witnesses. The word "seal" or the letters (L. S.) may be used for a seal. The acknowledgment is made by the grantor before a judge of a court of record of this tate or of the United States, a clerk of the superior court, court of common pleas, or district court, justice of the pease, commissioner of the school fund, commissioner of the superior court, notary public, town clerk, or assistant town clerk, if in this State, and if in any other State or Territory of the United States, then before a commissioner appointed by the governor of this State, or any officer authorized to take the acknowledgment of deeds in such State or Territory, and if in a foreign coUlltry, before any consul of the United States, or notary public, or justice of the peace in such foreign country. Conveyances of real estate situated in this State, exec-uted and acknowledged in any other Atate or Territory, in conformity with the laws of such State or Territory, are valid, If the land conveyed belong to the wife, the husband should join in the conveyance, if married before April 20, 1877. If the land conveyed belongs to the hushand, the Wife need not join in the conveyance. No separate examination of a married woman is required in taking her acknowledgment. Conveyances, including leases for more than one year, to be effectual against any other person than the grantor and his heirs must be recorded on the town records of th~ town in which the land lies. Corporations. Corporations may be formed under the 11:eneral laws by three or more persons for the transaction of any lawful business except that of bank, savings bank, trust company, building and loan association, insurance company, surety and indemnity company, steam railroad or street railway company, telegraph company, and gas and electric lighting, water company, or any company Which shall need to have the right of eminent domain. A certificate of incorporation mru t be filed, iiimed, and sworn to b_y all the incorporators, giving the name and location of the corporat10n, the nature of the business, the amount of authorixed <'apital stock, which must not be Jess than 2,000, number of shares and Par value of each, which shall not be less than S2/i, amount of capital shtock with which it will commence business, which shall not qe le. s t an $1,000. A certified copy must be filed in the town clerk's office. The organization fee must be paid to the State, of fifty cents on every thousand of its authorized capital stock up to five million, no payment to be less than $25. Stock may be paid for eit,her in cash or property, but if in property, a majority of the directors mm,t make and sign upon a record book a statement of the amount for which the property is received and its actual value. In case of fraud in such valuat ion, directors Personally liable. f Certificate of organization must-be signed and sworn to by a majority ~ the directors and filed in the office of the secretary of state, setting ~orth the amount of stock subscribed for. amount paid in cash and m Property names and addresse of subscribers with number of sbbares subscribed for. statement that the directors ·are officers have een duly elected and by-laws adopt,ed, name and addresses of directors, the location of the principal office in the State with the name of the agent in charge. There must be at least three directors; vacancies in directors may b e filled by remaining directors. f: No stoc-k can be issued until it bas been paid for in full. Receipts _eror Partial payments of .·t,ock may be Lsued by the trea. urer. tblflcates for fractional shares cannot be L sued. The corporat10n . as a lien on capital tock owned by any person for debts due to lt from the stockholder. The corporation may acquire its own •'~Pita! stock with the approval of three-fourths of the stockholders, given at a meeting called for that purpose. Stockholders' meetings must he held in this State. Similar corporations may consolidate. A corporation may be wound up by V<Jluntary a~eement of all stocl~holders, sie;ned and acknowledged, directors actmg as trustees to wmd up the bu iness. . Receiver may be appointed on application of stockholders OWJ:!mg one-t,enth of the stock in case of. fraud. mismanagement, or 1f assets are in danger of waste by attachment, or when corporation has abandoned its business. Annual statements must be flied in the office of the secretary of ~tate and a certiiled copy thereof in the town clerk's office. either 1D Ja~uary or July, giving tbe names and addre',es of _the offlc~rs and directors amount of outstanding stock not paid for in full with the amount due thereon the locat,ion of the principal oilke in this State with the name of 'the a~ent in charge on whom process may he served. For failure to flle annual statement the corporation may forfeit 25 to the State. osts. For case before justice of the peace, a~tual cash_ costs not less than $5; before city court. from . JO to a0, aceordmg to amount involved· before court, of common pleas or superior court, not les.s than $25: before supreme court of error . not 11.'ss than $50. Attorney's fees :riot inducted. Attorney justified in a;;king deposit of Sl5 for case in justice's court and i>O in any other court before bringing suit. (See Insurance Companies, Injunction , etc.) Courts. Terms and Jurisdiction. Ruperior court holds one _te\m Per Year in each county for the trial of ch:il ca~-;es, and has JU1:"ISdictio!J in au law and equity cases exceedmg -.>DO, and exceeding Sl00 1D those counties whero there are no courts !,)f common pleas. e"'. ~on.don, and Court of common plea.s in Hartford, Fairflel~. ew Haven counties bas exclusive law and eqmty junsd1ct1on aboYe SlOO and below 500 and cont'urrent juri. diction with the superior court ahove $,500 and up to 1.000, and in Litchfield 'ounty ha.<; ot le. s than four te_rm, each exclw,h-e jurisdiction up to $1,000. ;vear are held in each of the counties named, a11c1 there are c:-1ty !'0~1rts ID many of the cities, and a di. trict court at ,\aterhury, with lumted civil jurisdiction. also town court in many of the towns. Probate courts have jurisdiction of the settlement of the est~tes of_ de<'ea. ed, insolvent, am! incompetent persons, and are. es~abhshed _m a ~arii:e number of 1,rohato districts-one for each Justices of the Pea,c,~ have c-ivil jurisdiction up to 100. In • 'ew Haven and Ha_rtforct Jurisrli<'tion of justiee of tho peace has been tran ferred to city court, except in cases of summary process and ba.'>tardy. uays of Grace. (See otes and Bills of Exchange.) Deeds. (. ee Conveyances.) Depositions. May be taken in a civil action _by a Judge C?r ~Jerk of any court; justice of the peace, notary pubhc, or comm.c 1oner Of the superior court, when _s li~es out (?f the , tate. or more than twenty miles from place of trial. 1s over sixty year.· of age and unable to a'ttend the trial. is going to ea, or out of the • tate, or by age and infirmity is unable to travel to court, or is confined in jail. Reasonahle notice mu-;t be given to adYet'!!e party. Depon 'Hts must be cautioner! to speak the whole truth, and carefully e,amined. They nmst subsceibe their depositions and make oath before the authority taking the same, who shall attest the . ame and certify that the adverse party or his agent was present (if so), or that he Was notified and shali aJ-,o certify the reason of taking such deposition. seal it up, direct it to the court where it i. to be u.·ed, and delir.ver it, if desired, to the party at who. e reque. t it was taken. Depositions may be taken in any other , tate or country hy a nota1·y Public, commissioner appointed by the governor of thi State, or by Federal Reserve Bank of St. Louis  1 !~~ ~ar!ki:1~tge~:r;i~gfo~~;~r ~-ini!~e~ ~l~/;,~a~;t~1• le~1::l lot~.e~o~~L or vi<'e-<"onsul appointed hy the lTnited Sta, 01-o, if tak<'n out of t.he Uniter! ~tatr.s. A judg-e of the superior. c-ommon pleas. 01 di-;trlct court c-an issue a "commission" to take the <leposit inn of a J>Prson residing out of this Flt.ate. to be m e<I in a cause pendin!? t ,efore sm·h court. The superi' r court. upon petition. may allow depo--itiomi to be t.aken to perpetuare testimony C"nn<·erning th:H whi<'h may thereafter be the suhje<'t- of a -,uit. 1'he per-.;on taking depo-;itions may compel attendance or witnesses by suhprena and c-apia-; oescent and Oistrihution of rropertv in Intestate Estat.,.s. (As to the share of a surd,ing husband or wife see the title Husband and Wife.) After the share of tie surviving husband or wife, the residue of the real or personal estate i..: di:stribntecl in equal proportions among the children and the legal representatives of any of them who may he dead (children who have re<'eived estate hy advan<'ement of the intestate in his lifetime IJeing <'harged with the same in the distribution). If there be no children or leg-al represE'ntatives thereof, such re. idue shall he distributed to tJ1e pal'ent or parents, then equally to the brothers and sist,ers of the intestate of the whole blood, and tho e who legally represent, them: and if there be no such kindred, then equally to the brothers and sisters of the half hlood and those who legally represent them: and if none, then equally to the next of kin in equal degree. kindred of the whole blood to take in preference to kindred of the half blood. in equal degree, and no representatives to be admitted among collaterals after the representatives of brothers and sisters. Dower. (See Husband and Wife.) Evidence.· (See Courts, Insurance Company. Corporations.) Executions. Issue on final judgment, and are returnable within o execution issued in an action founded on contract sixty days. merely can be levied on the body of the debtor exc-ept for breach of promise of marriage, misconduct or neglect in office or professional employment, or breach of trust and cases where the rip;inal attachment is against the body. Any judgment debtor. an exe<'ut.ion against whom shall have been returned unsatiflsed in whole or in part, may be examined on oath touching his property and means of paying such judgment, and may be committed for contempt. (See Exemptions.) ExemJ)tions. Homestead, to the value of $1,000, if deC'laration to hold it as such is recorded. Of the property of any one person, bis necessary apparel and bedding and horu ehold furniture ne<'essary for supporting life; any pen. ion moneys received from the l'nited States while in the hands of the pensioner (which bas been construed to cover also such pen.,ion money when deposited in a :-avings bank); implements of the debtor's trade, his library not exceedin~ ,mo in value; sundry domestic animals not exceeding $150 in value; so much of any debt which ha.s accrued by res.son of the personal services of the debtor as shall not exceed 15, inrluding wages duP for the personal services of any minor child (but there shall he no exemption of any debt accrued by reason of the personal services of the defendant against the claim for the defendant's personal board, or for the rental of any house or tenement occupied by the defendant as a place of residence when such rental shall not exceed $25); of the property of any one person having wife or family. two tons of coal, specified amounts of food-stufl's; the horse of any physician or surgeon not exceeding $200 in value, and hi'l saddle, bridle. harne. s, and buggy, also his bicycle; one boat_ owned by one person, with rig~ing, tackle. etc., not exceeding 200 m value. used for planting or t·aking oysters or clams or taking shad; one sewing machine being property of any one person using i~. or ha':ing a famil):: 0?,0 pew being property of any per. on havmg family who ordmar1ly occupy it. and lots in any burying ground; and all benefits allowed by any association of persons in this tate toward the support of its members, incapacitated by sickne. · or infirmity, shall be exempted from foreign attachment or execution. Foreign Attachments. Good concealed in the hands of agents or debts due the defendant are rea,•hed by foreign attachment which o assignment of future earnings takes the place of garnishment. will prevent their attachment when earned unless made to secure a bona fide debt, due at the date of such assignment, the amount of which shaU be tated therein as nearly as possible, nor unless the term for which they are ~ signed shall be definitely limited in the assignment, nor unless recorded before such attachment in the town clerk'<; office in the town where the assignor resides, or if he resides without the tate, in the town where the employer resides, and a copy left with the employer. (See al ·o Exemptions.) ForeiAD Corporations. Every foreign corporation. except insurance and suret,y companies and building and loan a sociation.· and investment companies (a corporation which has power to or does sell or negotiate its own choses in action or sell, guarantee, or negotiate the cho. es in action of other per ons or corporations as investments), shall, before transacting business in this State, file in the office of the secretary of the State a cert.ifled copy of its charter or certificate of incorporation, together with a statement, signed and sworn to by its pre. ident, trea.surer, and a majority of its directors, showing the amount of its authorized capital tock and the amount thereof 111 ~:e~!I~e Ptt~n in a~~~hi,f :~J'h !t ~~:~ihsg:~~it f~:rhbit~ part,iculars thereof. • ec. 83.-EYery foreign corporation with an office or place of busine in this State, except insurance companies. surety companies, and building and loan associations, shall, before doing busine. s in this State, appoint in writing the secterary of the State and nis successors in office to be its attorney, upon whom all process in any action or proceeding against it may be served; and in such writing such corporation shall agree that any process against it which is served op such secretary shaU be of the same legal for<'e and validity as if served on the corporation, and that such appointment shall continue in force as long as any liability remain, outstanding against the corporation in this L tate. Such written appointment shall be acknowledged before some officer authorized to take acknowledgments of deeds and shall be filed in the office of said ecretary, and copies certified by him shall he sufficient evidence of such appointment and agreement. Service upon said attorney shall be suffi<'ient service upon the principal, and may be made by leaving a duly atte. ted copy of the process with the secretary of tbe State or at his office. Every foreign corporation doing bu ines.'l in thi !-Hate shall, within thirty days after an increase or reduction of its capital stock file in the office of the ecretary of the State a certiflca1 e sub. tantially like that required of dome. tic corporat.ions organized under the like conditions. The pre. ident and trea.surer of every foreign corporation doing business in this State which is not re11uieed by law to make other annual returns in this State, shall. annually, on or before the fifteenth day of February or August, make, sign, and swear to and file in the office of the. ecretary of the State a certificate similar to the cert,iflcate required of domestic corporations (See Corporations), except that such certificate need not give the name of the agent or person in charge of its principal office upon whom process against the corporation may be served. The secretary shall thereupon record such certifl<'ate in a book kept by him for that purpose and shall furnish a certified copy to be recorded in th office of the tO\vn clerk of the town in this tate in which such corporation has it. principal office or place of business, and said town clerk shall reC'ord the . ame in a book kept by him for that purpose. On the fifteenth day of March and September  :!~~  P:f Federal Reserve Bank of St. Louis  1866  BANKING AND COMMERCIAL LAWS-CONNECTICUT  the town clerks of the several towns shall report to the secretary of the tate the names of all corporations who ·e annual report have been filed for record during the preceding six months, in accordance with the provisions of this section, and the secretary shall report to the attorney-general every six months the names of all corporations  s :~  1  fiihj~t~~~~f-~!':i~r~~ ~e f~~et~:ss 3!et~J:?m tion. Every corporation whose officers shall fail to comply with the requirements of this section shall forfeit to the State $100 for each failure. The attorney-general may remit this fine. Foreign .Judgments. Not conclusive on question of jurisdiction. A foreign judgment when used by way of defence, is as conclusive to every intent, as those of our own courts. In an action on a judgment rendered in another State, evidence on the part of the defendant that he had no legal notice of the suit and did not appear, is admissible, although the record of the judgment stated that uhe defendant appeared by his attorney. Where the foreign court has a peculiar and exclusive jurisdiction. its decree is binding upon the judgment of any other court, into which the same subject comes immediately into controversy. A judgment rendered by a court in one State has no efficacy when it is sought to be enforced in Connecticut, unless such court had jurisdiction of the person against whom it is rendered, acquired either by ervice upon him of the process in the suit, or actual notice to hipi of tho suit, or at least by his having appeared in it, and thus submitting to the juri diction of the court. Jurisdiction presumed to have been properly exercised, if court once had jurisdiction. Notice presumed of re umption of jurisdiction if required by practice of foreign court. A judgment recovered in a sister State is a bar to the further prosecution of an action pending at the time in this State between the same parties on the same cause of action. It makes no dillerence that the judgment of the sister State has been appealed from, and that the appeal is still pending, where by the laws of that State, such appeal operates only as a proceeding in error, and does not supersede the judgment. Only sueh pleas are pleadable to a foreign judgment, as are pleadable when rendered. Fraud. All fraudulent conveyances, suits, judgments, executions, or contracts, made or contrived with intent to avoid any debt or <1:uty belonging to others, shall, notwithstanding any pretended consideration therefor. be void against those persons only, their heirs, executors, administrators, or assigns, to whom such debt or duty belongs. Garnishment. (See Foreign Attachments.) Guaranty Companies. (See Surety Companies.) Holiday . (See Notes and Bills of Exchange.) Husband and WUe. In all marriages contracted after April 19, 1877, neither husband nor wife acquires by force of the marriage any right to or interest in any property held by the other before the marriage or acquired after the marriage, except as to the share of the survivor in the property of the other as hereinafter stated. Wife married subsequent to April 19, 1877, may hold and convey real e tate separate from her husband. Separate earnings of the wife are her sole property. On the death of the husband or wife the survivor shall be entitled to the use for life of one-third in value of all the property, real or personal, owned by the other at the time of his or her decease, after the payment of all debts and charge.5 allowed against the estate. The right to such third can not be defeated by will. Where there is no will the survivor shall take such third absolutely, and if there are no children, shall take all of the estate of the decedent absolutely to the extent of $2,000, and one-third absolutely of the remainder of said estate. Injunctions. Any judge of any court of equitable jurisdiction may, on motion, grant and enforce writs of injunction, which shall be of force until the sitting of such court and its further order therein, unless sooner dissolved. Superior court judf.!:e may dissolve temporary injunction granted by other court. All facts stated in application for injunction must be verified by oath. Plaintiff must give bond with satisfactory surety, to answer all damages in case of failure to prosecute to effect, before temporary injunction can be issued, unless the court shall be of opinion that temporary injunction ought to issue without bond. Injunctions may be granted forthwith, if the circumstances of the case demand it; or the court or judge may cause immediate notice of the application to be given to the adver e party, that he may show cause why such injunction should not be granted; and it shall be sufficient, on such application for a temporary injunction, to present to the court or judge the original complaint containing the demand for an injunction, duly verified, without further complaint, application or motion in ,vriting. Whenever a temporary injunction is granted in any cause before the return day thereof, it may be dissolved or modified by the court or judge who issued it, by any judge of the court to which the action is returnable, or by any judge of the superior court; provided a written motion for such dissolution shall be prepared before the return day. Any person who may be directly or indirectly interested In, or affected by the granting of any temporary or permanent injunction, may ~ppear and be heard with regard to granting or dissolving the same. When in any action a temporary injunction has been granted, and upon final hearing judgment shall be rendered adverse to the continuance of such injunction, either party may apply to the court rendering such judgment, representing that he is desirous of taking the case to the supreme court of errors, and praying that said temporary injunction may be continued until the final decision therein; and unless said court shall be of opinion that great irreparable injury will be done by the further continuance of said injunction, or that said application is made for delay and not in good faith, it shall be the duty of the court to continuelsaid injunction until a final decision be rendered in the supreme court of errors. '\Vnen in any action judgment shall be rendered for a permanent injunction ordering either party to perform any act, upon similar application to that above mentioned, a stay of operation of such injunction, pending final decision of supreme court of error', may be granted for similar reasons. The court in which such case is pending may. however, if in its opinion the cause of justice shall so require, dissolve ·aid temporary injunction or remove the stay or said permanent injunction while said cause is so pending in the supreme court of errors. uspended, owing to United State· Bankruptcy Act. In olvency. Interest. Legal rate, in ab ence of expre.' agreement, 6 per cent; no more than 6 per cent can be recovered in either case after debt becomes payable. Express agreements in which 12 per cent is charged are valid and any person making a greater charge is liable to fine and imprisonment. There is no limit to the intere t charge which can be made by any ... Tational Bank or any Bank or Tru t Company, incorporated under the laws of thL 'tate nor is there any limit to the interest charge on a bona fide mortgage of real property pecial la:w. for pawnexceeding the sum of five htpidred dollars. brokers. Loan companie licensed by Bank Commissioner may charge not to exceed -12 per cent per annum on unpaid balances on all loans up to 300. Judginents carry 6 per cent interest, but are not Hens, and execution may be had at any time during the life of both parties. Judgment by default may be obtained if the defendant makes no appearance on or before the second day of the session. Certificate of judgment may be recorded by judgment creditor or hi a signee in town clerk's  office, and such judgment from the time of filing such certificate shall constitute a lien upon the real e tat,e described in such certificate, and if such lien be placed upon real estate attached in the suit upon which such judgment was predicated and within four months after such judgment was rendered, it shall hold from the date of such attachment. Such lien may be foreclosed or redeemed in the same manner as mortgages upon the same estate, and may also be foreclosed by decree of sale. Jurisdiction. (See Courts.) Liens. (Mechanics' Liens.) JI..Iechanics' liens for labor or materials furnished in the construction or repair of any building may be flied by original contractor within sixty days after completion of work; but sub-contractor must serve owner of building with notice of his intention to claim a lien within sixty days after he shall have ceased furnishing materials or render services and also file his lien within said time. Payment made by the owner of the building to the original contractor in accordance with contract shall be considered as made in good faith unless the sub-contractor has duly notified said owner to withhold payment. Jl..:Iechanics' liens are foreclo ed same as real estate mortgages. Unless foreclosure is instituted, liens expire two years after filing. {For judgment Liens, ee Judgments.) Llmitations to Suits. Open accounts and contracts not under seal, six years; contracts under seal and promissory notes not negotiable, seventeen years. Usual exceptions in favor of married women minors, lunatics, and those imprisoned. The time during which the party against whom there may be such cause of action shall be without the State shall be excluded from the computation. Title to real estate by adverse possession may be gained in fifteen years There is no limitation against judgments but the common law presumption of payment after twenty years exists. Limited Partnerships. Such partnerships (except banking and insurance) shall consi t of one or more partners, jointly and everally responsible, as in ordinary cases, to be called general partners; and one or more partners, furnishing capital to the partnership stock, whose liability shall not extend beyond the capital so furnished by them, to be called special partners. Such partner.·hips shall be condu<.:ted under a company name, in which the name of one or more of the general partners shall appear; and if any special partner's name shall be used in said company name, he shall be held liable as a general partner. No such partnership shall be deemed to be formed until the persons forming it shall make, and severally sign and acknowledge before any officer authorized to take the acknowledgment of deeds, a certificate stating the company name and names and residences of all the partners designating which are general and which are special partners, and which of the general partners are authorized to transact the partnership business and sign the firm name, and also the amount of capital furnished by each special partner and the time at which the partnership is to commence and terminate: nor until such certificate, and also a certificate of the amount actually paid in by each special partner, signed and sworn to by such of the general partners as are authorized to transact the partnership business, shall be filed and recorded in the office of the town clerk of the town where the principal busine · of the partnership is to be carried on; and a copy of such certificate shall be prima facie evidence of the matter therein contained; and the partnership shall be re ponsible only for the acts of the general partners de ignated as specially authorized as aforesaid: and copies of aid certificates shall, in like manner, be filed in every town where such partnership may have a place of busine . Terms of such partnership must be published for six weeks in newspaper published in county where business is to be carried on. Any such partnershi/?i, may be renewed by filing at any time before its expiration,  ~~~ta,  ~;thtt:et~~ecl~f•;J~rs!i<;t;!:~:1 t~~~~e~~J~~~ni~ capital has been reduced or impaired since the last certificate filed by said partnership, and if so, to what amount, and by publishing not less than once a week for two weekc; in a new ·paper published  °~  tre;=:t:~ ::!i~ i:: r~ld;:r~~::sd  tt~~ii~~g ~sp~J~~g :e'ii~~n!~c1 which are general and which are special partners. If the requirements concerning original certificate are not complied with, or false certificate be made, all special partners shall be liable as general partners. All advancements to the capital stock by the special partners shall be in cash and no part of the capital furnished by them shall be withdrawn, either in the shape or dividends, profits or otherwise, at any time while such partnership continues; except that any special partner may lawfully be paid from the assets of such partnership, each year during the continuance thereof, a sum not exceeding 10 per centum upon the contributed by him to thfl capiLal stock; provided that such payment hall only be made out of the net profits actually earned by such partnerships during o special partner shall the year for which such payment is made. under any circumstances be considered a creditor, or allowed to o special partner shall be joined as a party claim as a creditor. in any action by or against such partnership unless liable as a general partner. tarried Women. (See Husband and Wife.) :\lortgage of real estate executed, acknowledged, and recorded in the ' manner as deeds, and are foreclosed by ·trict foreclo ·ure hattel mortgages to be good against third or by a decree of sale. parties, where the mortgagor retains po e.. ion, must be executed, acknowledged, and recorded a mortgages of land, and can only be made of the following described personal property-'\\ith or without the real estate in which the ame is situated or used-namely: machinery, engines, or implements situated and used in any manufacturing or mechanical establi. hment; machinery, engines, implements, cases, types, cuts, or plates situated and used in any printing, publishing, or engraving establishment; household · furniture in a dwelling house used by the owner therein in housekeeping; bay and tobacco _in t~e leaf in any building. Piano, organ, m lodeon, and any musical instrument used by an orche tra or band. Brick burned or unburned, in any kiln or brickyard. Hotel keepers may mortgage the furniture, fixtures, and other personal chattel contained and used in the hotels occupied by them or employed in connection therewith. Chattel mortgage are foreclo ed by . ale under order of court. In all chattel mortgages there must be a particular defcription of each article of personal property. Judgment for deficiency after sale, permitted. ·ota.rie!! Public hold office for two years from first clay of February of year in which commissioned, unle. commi. · ·ion i · ooner revoked by governor. ::\lay exerci ·e their function at an:v place in State. May take acknowledgments, administer oath take doposition subpoona witne · es to give dopo ·ition. The authoriuy amt ofllciai acts of any notary may be certified to by the clerk of tho superior court of the county in which he resides, except in -ew London 'ounty, where the certification is made by the clerk or the court of common pleas. ct Note. and Bills of E change. Negotiable Instruments now in force. Power. of ttorney. "Where a deed i· e. ecuted by a power of attorney it is recorded with tho d ed. Powers of attorne,· to convey real e tate must be executed and a knowleclg d in the manner required for the execution and acknowled!l:ment of the conveyance It elf. Pril'ate Bank . ( ee end of tate Bank· and Trust omoanies.)  Pro ments and D Pro Rec in Offi( mortg: of fut1 in offi to be f ance C Red Re the p posse inwhi and t posse suffici bond of at nizan Sal an int or hat ities a pro trade, not le Sal  BANKING AND COMMERCIAL LAWS-DELA WARE Probate Law. (See Administration of Estates, Appeals, Assignments _an~ In~olvency, Collateral Inheritance Tax, Courts, Descent and DIStribution of Property, Husband and Wife, and Will .) Protest. (See Notes and Bills of Exchange.) . Records. Warranty, mortgage, quitclaim deeds must be recorded m office of to~ _clerk ~ town where land lies, also assignments of mortgage, condit10nal bills of sale, chattel mortgages assignments 9f future earnings. Certificate of trade-mark to be filed for record m office of secretary of State. Certificate of unsatisfied judgment to be filed for record in town clerk's office. ( ee Conveyances Insurance Companies, Limited Partnerships, Judgments, etc.) ' Redemption. (See Mortgages.~ Repl_evy. Replevin lies for g9ods wrongfully detained , in which the pla1:Dtiff has a _general or ~pecial property with right to immediate possess10n. A writ of replevm can not issue except upon an affidavit in which the affiant states the true value of the goods to be reple,ied and th~t he believes that the plaintiff is entitled to the immediate posse. ion of the same, nor until the plaintifl' furnishe · a bond with sufficient surety_ in a sum double the value of the property. This bond or recogruzance must be signed by the obligor in presence z!~c~ast one witness other than the authority taking the recog-  ~f  S_ale of R;etail Business. Any person (including a person having an mtere t m a barber shop, dental parlor, restaurant, shoe shining 9X: hat cleaning business?, who make it his bu.sine · to buy commod~ 1ties and sell the same m small quantities for the purpose of making a profit and desiring to sell the whole pr a large part of his stock in trade, must file a notice of such intention in the town clerk's office not less than fourteen, nor more than thirty days prior to such sale. Sales. Uniform Sales Act passed in 1907. Service. Service of a writ of summons in case of a resident i ma9-e by r_eading it and ~he complaint accompanying it in the defendants hearmg, or by leanng an attested copy in the defendant's hands or at his usual place of abode; in case of a non-resident, the several co~rts, other than courts of probate, and the judges, clerks, and assistant clerks thereof, or any county commissioner, in term time or in vacation, may, except where it is otherwise specially provided by law, m<!-ke such orders as may be deemed reasonable, in regard to the notice which shall be given of the institution or pendency of all complaints, writs of error and appeal from probate, which may be brought to or pending in any court, when the adverse party, or any per on so interested therein, that they ought to be made parties thereto, reside out of the State, or when the names or resi!fenc::es _of any such persons in interest are unknown t-0 the party mst1tutmg the proceeding; and such notice having been given and proved shall be deemed sufficient service and notice. State Banks and '!'rust Companies. A reserve fund of 12 per cent of its demand deposits and 5 per cent of its time depo its must be held and maintained in the banking office, of which 4-12 must be gold and silver coin, demand obligations of the United tates or national bank currency, or federal reserve notes and federal reserve bank notes. The remainder of said reserve fund may consist of balances subject to demand draft with reserve agents, which are members of the clearing house associations of New York Bo ton Pbhiladelphia, Chicago, or Albany, or Buffalo, or a federal reserve ank, or national banks, state banks, or trust companie . located in Bridgeport, ew Haven, or Hartford, or Waterbury, and of bonds which are legal investments for savings banks which bond shall at no time exceed at par value one sixth of the total reserve fund. o new loans or discounts may be made when the re erve is below 12 per _cent. Bank commissioners may apply for appointment of a rec~iver when the reserve falls below 12 per cent after thirty days' no~ice. "Demand deposits" shall mean all deposits payable within thirty days and "time deposits" shall mean all deposits payable after thirty days. No one person, corporation or firm may borrow more than 10 per cont of the amount of the capital stock paid in and surplus undivided profits combined, of any state bank or trust company. This does not apply to collateral loans. Penalty of 3,000 for violation of this law. Paper of execut,ive officers or clerks may not be discounted. Loans to parties outside the State can only be made when the loans and discounts in tho aggregate amount to one-half of the capital stock. Books of a bank may be examined by stockholders under certain conditions. Three-fourths of the directors must be residents of the tate. o d irector may be obligated to a bank or trust company in an amount e::rceeding 5 per cent of the capital actually paid in and surplus undivided profits combined. This does not apply to loans secured by collateral. ashier's bond of $10,000. At least five reports, verified by oath, must be made each year to the bank commissioners, exhibiting in detail the resources and liabilities of the bank or trust company ten days after receipt of request therefor from the bank commi sioners, which shall be published !n a newspaper in the county where the bank or the tru t company i s located. Penalty of $10 for each day of delay in transmitting report. Words "bank," "trust," or "savings" may only be used by banks, trust companies and building and loan associations incorporated by the United States or by the general assembly, but this hall not apply to firms or individuals doing busine · as private bankers or brokers under their own names. who deposit ,~ith the tate trea urer a bond of $10,000, or acceptable sccuritie of that amount for tho protection obf c_ustomers from styling themselve~ banke_rs ii:1 ~be con~uct of their usmess. Banks and trust compames mamta1nmg sanngs departmen~s must invest depo. its according to the laws of the , tate concernmg investments of savings banks, and must make ·worn statement. to the bank commissioners on October 1st in each :rear and oftener if required by the commissioners, of the amount of uch deposits and the securities in which they are in,ested. A tato Bank 0 r Trust Company may he incorporated under General Law as provided in Chapter 194, Public Acts of 1913. Suits. (See ctions.) urety Companies. Any corporation with a paid-up capital of not less than $250,000 incorporated and organized for the purpose of tran. acting business as surety on obligation for per ·ons or corporations, on complying with certain requirements of law ]!lay be a~cept d a surety upon the bond of any per on or corporat10n reqwred by the laws of this State to execute a bond. Every foreign corporation !:>efore transacting any business i~ this State amu~t deposit wi~h _the Ul.·urance com.mi· ioner a copy of its charter or article:; of sociation, anct sworn tatcment of the condition of its busine.· . The in.·urance cb·ommissioner may thereafter issue to such company a licen ·e to do usincss in thi<i 'ta,te. uch company must appoint the insurance conintissioner its agent on whom proce s may be served. uch comPany must flle annually on or before March 1st, with the in urance ~0 mmissioner a statenient of the capital of such company and its investmonts and risks. An annual license is granted if annual statement be satisfactory. Local agents must procure certificate of !).Uthority to act as agent from the in urance commL sioner. The msurance commissioner may also at any time examine the affairs of any suretv company doing business in the tate. A r . erve fund must be maintained equal to 50 per cent of the gro: amount of Federal Reserve Bank of St. Louis  1867  premiums received on business in force. No such company can mcur on behalf of any one person or corporation a liability for an amount larger than one-tenth of its paid-up capital stock and surplus without givin~ collateral security. Taxes. Land may be sold for delinquent taxes after due advertising, only so much being sold as is necessary to pay taxes and costs. Owner has one year in which to redeem, by paying the purchase ~one~. with 12 per cent interest. Bonds, notes, Qr other choses 11:1 action,. except bonds and notes secured by mortgage on real estate s1tu~ted m this State, may be exempted from all local taxation by paymg to the State a tax of 2 per cent on the face amount thereof for five years, or at the option of the holder thereof for a greater or less number of years at a proportionate rate. Inheritance taxes are levied on a!l property '!ithin C(?nnecticut possessed by any resident ot: C9nnecticut !3-t the time of his decease, and all tangible property withm Connecticut possessed by a non-resident at the time of his death which passed by gift, to take effect at death or by will to any p_erso1:1, corporation, _Y?luntary association or society, with exempt10ns m favor of charities and on certain particular kinds of property. Rates of the ta~es are 1 per cent of the value of all property in excess of $10,000 passmg to aJ?,Y parent,. grandparent, husband, wife, lineal descendant, adopted child, adoptive parent and lineal descendant of any adopted chil_d, up to $50,000 with l:?'aded increases; 3 per cent on property passmg to the husband or wife of any child of such decedant to any stepchild, brother or sister of the full or half blood and to any !fesce!!dant of such J:)rother or sister in excess of $3,000 up to and mcludmg 25,000, with graded increases: 5 per cent of the value of all property in excess of 500 passing to any persons other ~han those above mentioned up t,o and including $50 000 with graded mcreases. Only one exemption is allowed for each clas.. Transfer of Corporation Stocks. (See Corporations.) Trust Companies. (See State Banks and Trust Companies.) in ~hou e Receipt . Uniform Warehouse Receipts Act passed  '[o:~r7  _Wills. All_ persons of ~he age of eighteen years, and of sound mm?, may dispose of. their estate (real or personal) by will. No de"'."1se, except for pubhc and charitable uses, or for the care of cemet~nes or graves, shall be made to any persons but such as are at the time of the death of the testator in being, or to their immediate issue or descendants. Wills mu~t be in writing, sub. cribed by the testator, and attested by three witnesses, each of them subscribing in his presence, but they will be effectual here if executed according to the la'Ys of the State or country where executed. If, after the making of a will, the testator shall marry, or if a child is born to the testator a:nd no pr9vision is made in the will for such contingency, such mar: ri~e. or: birth sh.all operate as a revocation of such will. A will or codi~Il I!> otherwise revoked by burning, canceling, tearing, or obliteratmg 1t by the testator, or some person in his presence by his direction, 9r by a later will or codicil. A devise of bequest to a subscribmg witness or t9 the husI?and or wife of a subscribing witness, is void unless the will 1s otherwise legally attested, or unless the devisee or legatee. be an heir to the _testator. Wills are proved and estates se~tled m the probate court m the district where the deceased resided. Wills. of non-residents o,vning property in this State may be proved by fllmg exemplified copies thereof in district where property is located. e 1~~e~ourse sliould always be taken in order to pass good title to real Workmen's Compensation Act.  Passed in 1913.  SYNOPSIS OF  THE LAWS OF DELAWARE RELATI  TQ  TO  BANKING AND COMMERCIAL USAGES Revised by TowNSEND & BAR KY, Attorney at Law, Wilmington. ( ee Card in Attorneys' List.)  Acknowledgment. (See Conveyances.) Actions. Suit may be commenced by capias, summons, and (where defendant is non-resident) by attachment of property. Summons in justice's court may be i.·sucd r turnable in flye davs from date of service, or may be made returnable forth"ith, upon plaintitr filing an affidavit that t,here is danger of his lo ing the benefit of his process by delay. In superior court tho summons must be erved personally on debtor before court its, or by lea,ing a copy of the summons at his usual place of abode, in pre ·ence of some white adult person, six days before court its. ervice by publication allowed in the court of chancery only. Affidavit may be administered in the "tate by the chancellor any judge, justice of the peace. or notary public, and out of t,he tate by any official duly authorized to take acknowledgments of deeds. etc.; but before a notary public is preferable. The afliant must sign the affidavit. Assignment and Insolvency. There is a domestic insolvent law I?ro_viding for a full surrender and equal distribution of all property, but 1~ IS very seldom u.5e·d, and there is no provi: ion in the act for the_ discharge of the debtor upon hi: making an assignment. The assignee mu t file a schedule of property assigned within thirty days and two apprai ers are then appointed by the chancellor. Assign: ment mu t be for the benefit of all,lcreditor alike. Federal Reserve Bank of St. Louis  1868  BANKING AND COMMERCIAL LAWS-DELA WARE  court; regular terms, New Castle County, at Wilmington, on the Attachments. Domestic attachment may be issued against an fourth :Monday in March and second .:\Ionday in September: Kent inhabitant of this State, after a return to a summons or capias issued County, at Dover, third :\londay in March and third :\l or1day in ten days before the return thereof, of non est inventus, and proof September; Sussex County, at Georgetown, second .:\fonday iri i\larcb of cause of action: or upon the filing of an affidavit "that the defendant is justly indebted to the plaintiff in a sum exceeding $50, and and first l.vlonday in eptember. Superior court, and court of general sessions are held in ~ew Castle County at Wilmington the flrst i\lonhas absconded from tbe place of his usual abode, or gone out of the day in January, :\larch, :\lay, and Xovember anu third .:\lon ·ay in State with intent to defraud his C-Teditors. or to elude process, as is believed." The writ directs the attachment of property and sum. eptember, in Kent County at Dover, the first :Monday in July and the third Monday in February, April, and October, and in ::.-\ussex mons of garnishees. Attachment may be dissolved on entering security to satisfy any judgment to the extent of the property attached County the first Monday in February, April, and October and last that may be recovered against the defendant. On return of attachMonday in June in Georgetown. Oyer and terminer meets on call of judges. Jurisdiction-The superior court has jurisdiction in all ment the court appoints three persons as auditors of the claims of civil cases, but if suit be brought for less than $50, costs will not creditors; the creditor attaching is allowed a double share for his be recovered. Justice's jurisdiction, $200. New Court known as diligence, not to exceed full amount of debt. Any creditor not duly presenting bis claim receives no share in the distribution. Plaintiff Court of Common Pleas was recently created for ew Castle County. is not required to give security. \Vages are exempt from attachPresided over by one of the Judges of Superior Court. Open continuously except July and August. Jurisdiction of all cases ex conment in New Castle County except for board or lodging. Foreign tractu up to 1,000. attachment may be issued against any person not an Inhabitant of the State after a return of non est as in domestic attachment, Depositions. In any suit pending, the protbonotary, on applior upon affidavit being made "that the defendant resides out of the cation, enters a rule commission on the part of the applicant to any State, and is justly indebted to the plaintiff in a sum exceeding $50." of the State or other per on. The commission issues commi'iSioner Foreign attachment may also issue against a foreign corporation, but on ten days' notice of interrogatories filed. Exceptions to interroga in this ca e the amount of the real debt must be particularly speciflied before the commission i ·ues, and are heard be must tories fied in the affidavit, and must exceed $50. Unlike domestic attachbefore a judge at chambers. Exceptions to· the execution must be ments the plaintiff in foreign attachments bas the benefit of his own after publication. If the commi · ·ioner employ days two within filed discovery and does not share with other creditors. It is similar to a clerk, add "The clerk hy me employed in taking, writing, trandomestic attachment in all respects except as to appointment of scribing, and engrossing the said depositions, having first duly taken auditors and distribution among creditors. The court or any judge the oath assigned to the said commission according to the tenor upon petition may investigate any allegation in affidavit, except as · thereof." to the amount of the debt, and di olve the attachment if sufficient Executions are a lien upon personalty from the time the sheriff ground be not shown. Foreign attachment is otherwise dissolved by received the writ, if actual le,·y be made within sixty days thereentering special bail. By recent amendment in cases of foreign after. Priority of lien remains in force five years. Execution may attachment it is no longer nece.· ary to enter security to discharge be i sued within five years after date of judgment. An execution the attachment, before an appearance can be entered. An appearance from a jmtice is a lien from time writ is received, if levy be made may be entered without security to discharge the attachment, and within thirty days and priority of writ remains for two years. Executhe goods attached remain as security pro tanto. tion can not issue after three years without revival. Goods and Banks. There is no general banking act and but one State bank, chattels of a tenant are liable to one year's rent in preference to which was chartered by the legi lature in 1807. Banking companies execution or mortgage. In Tew Castle County wages for a month can not be formed at present, except by special act of the Legislature. the execution. There is no redemption on property sold under The holders of stock are taxed at the rate of one-fourth of one per of employes of corporations are preferred to the execution. Stay centum on the ca h value of each share of capital stock. There of six months is granted in rourts of record upon judgments recorded have been recent-ly several trust companies formed in the St.ate. for want of affidavit of defence, provided security be given within either by special act before the 1897 constitution. and by general twenty days after judement. In ju. tice's courts defendant may have corporation act since, which have been granted banking powers by six months' stay, upon pleading his freehold; nine months' stay upon special statute. Banks and trust companies are now subject to giving security. examination and inspection by insurance commissioner. By recent E.·emptions. No homestead law. Family pictures, bible, and amendment, Tational Bank may act as Trustee, Executor, Adminislibrary; lot in burial ground and pew in church; all wearing apparel; trator, or Registrar of stocks and bonds. Bank by recent amendmachines in private families; tools of trade not to exceed $50 sewing ment, prevented from loaning more than ten per cent of capital st,ock in Kent, or. 75 in ew Castle County; and to the head of a family and surplus to any one person. in~ ew C'astle County ~200 of per·onal property and in Kent County Bills and . otes. Acceptance hould be in writing on the bill. . 150, consi ·ting of household goods only. ~ To additional exemption All checks, notes, drafts, or bills, foreign or inland, payable without in Sussex. The provisions of the exemption law extend and apply time or at sight, are due on presentment without grace. to a person dying and leaving a widow, giving and .securing to such widow the same benefit of exemption that her husband would have Chattel Mortgages must be accompanied with an affidavit that had if living. \Yage · are exempt from execution at,tachment in New tbe mortgage is made for tbe bona fide purpose of securing a debt, Castle County except for board or lodging. Piano and organs leased and not to defraud creditors, and if recorded within ten days from or sold under contract exempt from execution process or distress the acknowledgment thereof, is a valid lieu for five years on personal rent, provided the lessor or vendor noti.fle the landlord in writing for property, tho possession of which may remain in the mortgagor. of tbe claim thereof. Claims Against Estates ot Decea ed Persons are paid in the Frauds. Sale of goods void as to third parties, unless for valufollowing order: 1. Funeral expenses. 2. Bills for medicine, medable consideration and the po se ion thereof be actually delivered ical attendance, nursing, and necessaries for last sickne · of the to the vendee. A promise to pay the debt, default, or misc·arriage deceased. 3. No more than one year's wages of servants in house of another to the extent of $5 is binding if proved lJy the oath or the and laborer on a farm. 4. Rent for not more than one year, either promisee; for an amount between 5 and 2,> n111s~ be proved by growing due or in arrears. 5. Judgments and decrees in e(Juity credible witne. s or some memorandum in writing ~i"ned by the one obligaother and against deceased. 6. Recognizances, mortgages, to be charged therewith; for an amount exceeding 25 there person . Contions of record. 7. Obligations and contracts under seal. must be some memorandum or promi. e in writing signed by the tracts under hand for the payment of money, delivery of goods, ale of Goods in Ilulk Law recently be charged therewith. to party wares or merchandise. 9. Other demand'.!. Administration is impo ing penalty upon seller and purchaser where requiregranted: 1. To the person entitled to the residue. 2. To one or ' amended not carried out. is creditor on notice to as ments more of the creditors. 3. To any suitable person, re ident or nonresident. Bond must be given for an amount double the value of Garnishment. All persons except public officers, attorney-, etc., deceased the against claims of givEin be must the estate. Notice are subject to summons as garnishees. \Vages are not subject to within six months from granting of letters (except claims of record), garnishment in ~ Tew Ca ·tie County except for board or lodging. or executor or administrator is protected in paying debts of a lower Holiday , Legal. January 1st, February 12th, February 22d, grade. One year i allowed for settling the estate, and until the Good Friday, :'.\lay 30th, July 4th, first :\Ionday in 8eptember, Octoexpiration of that time, he need not make distribution. nor is he 12-Columbus Day: Day of the general election as it biennially ber removed be chargeable with interest on the a. ·ets in hand. Ho may occurs. Thanksgiving Day, and Chri. tmas, and aturday afternoon upon sufficient cause. Letters granted in other states and produced in New Castle County. If legal holiday fall on Sunday the next under the seal of the officer or court granting the same, is competent day is ob erved. ~ ·egotiable paper falling due on legal holiday is authority for him to act in this State. due and payable on the next pr edim~ secular day; if falling due on aturday half-holiday, if not pre. ented for payment before noon, is Contracts are joint and several, unless otherwise expre ed. not due until the next succeeding secular day. Conveyances of Real E tate mu t be under seal (a scroll is Homestead. There is no home.·tead law in Delaware. sufficient), and should be executed before one witness at least. Deed Interest. Legal rate is 6 per cent. Any per-;on who takes more may be acknowledged out of the tate before any consul-general. the use or the loan of money hall forfeit and pay to any one suing for appointed duly tates. United the of agent commercial or consul, the same a sum equal to the money loaned, one-half for the use for in any foreign country at the places of their respective official residence; of the tate, and the other for the party . uing. before the judge of any district or circuit court of the United tates, of court. of record are liens upon all real estate of the Judjt'lnents or the chancellor or any judge of a court of record of any state, terridebtor in the county where judgment i entered from their date. for tory, or country, or the mayor or chief olDcer of any city or borough, years and may he revived and kept alhe and a lien ten of period a and certifled under the hand of such chancellor, judge, mayor. or by EI. FA. or agreement before e.·piration of ten year.· from date of officer. and the seal of his office, court, city, or borough, by certificate may be extended into either or both the other lien This entry. acknowledgment such or deed; the to endorsed upon or annexed counties. Judgments can only be obtained in this tate upon judgor proof may be taken in any such court and certified under the hand ments in other states hy suit upon a certified copy of the record of • of the clerk or other officer of said court, and the seal of said court said judgment authentiC'ated under the Act of Congrers passed in like manner. In case of such certitkate by a judge, the seal of • fay 26, 1790. Tran ... cripts of judgments recovered before justices his court may be affixed to his certificate, or to a certificate of atof the peace may he entered in the superior court and thus be made testation of the clerk or keeper of the seal. Such acknowledgment liens on real estate after execution and return by Constable on goods may also be taken by any commi.sioner of deed for this State, or of defendant. :atisfaction must be entered within :-ixty days after by a notary public of any state or territory. Wife must join in deed 00 1 0 10 to bar dower, and husband to bar curtesy. A deed by a corpora~O~ll~~ee r6~~l. !tic~ ~r ap~i:ge, k~~at/~f~ ¥ra;~c~~ttrJ tion may be executed and acknowledged by t-he president or other three accounts book and hand under not Contracts Limitations. presiding office duly authorized by resolution of the directors, trustee , years, bills and note under band ,,ix years. .Judgments and special· or other managers, or by the legally constituted attorney of such corties are merely presumed to have been paid after the lap. e of twenty poration under its corporate seal. Deeds must be recorded within year·, but this presumption may be overcome by proof to the conthree months after sealing and delivery, to avail against creditor·, trary. All juda:ments must be renewed within ten years in order notice. without purchasers, fide bona mortgagee, or to preserve their liE'n on real estate. The statute does not begin to run in favor of non-resident del.Jtor until he come into the tate, in Corporations. General Corporation Act for all purposes other such manner that he may be served with process, and if a debtor than banking. Each stockholder is individually liable for the amount remove after the cause of ac ion ha· accrued. the time of his absence of capital stock not paid in in proportion to the amount subseribe<l is not computed. On recognizance: of heriffs', admini trators', or by him. Corporation of other states may be sued in thi ,'tate, executors' bond. , within . ix year: from dat • Bond of guardian and the property of the same found here may be eized hy attachment. All foreign corporations must file with the secretary of state. wi~~~nrri~ee\\y;~jr~~af:et~e~~e~:1f ~~~n p~~~~!f~~~~;~~Y owned statement of assets and liabilities, and the name of its authorized at marriage or received from any pen-on other than the husband, agent upon whom process may be served; must pay a .:'tate tax of l\1ay receive wage: for th ir pen,onal labor, and pro ·ecut.e and defenifd SIO, and fees of secretary of state (this State tax is paid but once) suits for pr ·ervation and protection of their own property, as must file with the prothonotary of each county the name of authorized unmarried, and the rem , i. sues, and profit:~ of their ~eparate estate agent upon whom proce may be erved. are not controllable by the husband. Dower: The v.idow is entitledd Costs. Non-resident plaintiffs may be required to give ecurity to one-third part of all the land: an<! tenements ,\her of her husban for costs. was . eized at any time durin!l her marriage. unle:s ·he shall bave Courts. Terms and Juri diction. The different courts of the relinquished . uch ri~ht, for and during the term of her natural Jlfe. State are as follows: Supreme court; regular term at Dover third If her husl,and dies without i:sue or the ehildren of i. sue she takes a Tuesday in June and January. Court ot chancery and orphans, moiety instead of a third part of the real {,,:;tate. A married womaD  ¼~7  1e°J  1~1  p  se  BANKING AND COMMERCIAL LAWS-DISTRICT OF COLUMBIA  the :ent , in LrCh eral onin and  t:e~  call all not as 1ty. con~on-  reay ion ade cuand liO  nth der tay ded bin ave pon  of the age of twenty-one years and upward may dispose of her property, both real and personal, by will, wit.bout the written consent of her husband, but subject to bis right of courtesy. Two or more witnesses are necessary for a will. Husband and wife may test,ify t£.ea~~If~il actions in which either or both are or may be parties to l\:Iortgages of Real Property are executed and acknowledged like other deeds. They become a lien from the time they are lodged with the recorder. Upon foreclosure of same there is no redemption of property. A purchase money mortga~e should be recorded within thirty days to avail against a subsequen u innocent holder. Proof of Claims. The full individual names of plaintiffs and defendants, to~ther with style of doing busine s, must be stated; or if a corporation, the laws of what state under which incorporated. One of the plaintiffs. if a partnership, or the treasurer or cashier of a corporation, must make affidavit to the amount claimed, giving an itemized copy of the cause of action attached thereto. It is ~dvisable to have the affidavit made before a notary public, though 1t may be made before others. ( ee Affidavit.) Protest. (See Bills and Notes.) Replevin. The writ issues out of the superior court to obtain Possession of goods unlawfully taken or unlawfully detained. No affidavit is required. but before the officer to whom it is directed can execute it the plaintiffs or some sub tantial per on for him mu t enter into bond to such officer in a penalty of double the value of the goods to be replevined, conditioned to prosecute the suit with effect, etc. Defendant may give counter bond and retain the goods. Summons may be served on the defendant by stating the substa_nce of it to him personally at any time before the return of the writ, or by leaving a copy of it at his usual place of abode in the pres~nce of some adult person six days before the return thereof. Ag~mst a corporation may be erved on the president or bead officer, if residing in the State, and if not, on any officer, director, or manager oif the corporation or duly authorized agent named for said services. nh chancery service may be had by publication under order of the c hancellor. From a justice service must be personal if forthwith, ot erwise four days mm,t intervene before bearing. Taxes laid and imposed by the levy court of a county or by the rtate for its own purposes, are a lien upon all the real estate of the haxable upon whom they are imposed, for two year , and such lien as preference to all other liens against him. General ass~ sments are made every four years. \ViUs. Any person of the age of twenty-one years or upward, or sound mind, may make a will a« well of real a.5 per onal estate. Every Will must be in writing and signed by tbe testator, or by some Person subscribing the testators' name in bis presence and by his express direction, and attested and subscribed in his pre. ence by two or more credible witnesses, or it shall be void, A will .·hall be Ptrovhed before the regis1 er of the county in which the te ·tator re ided a t e time of his death. A nuncupative will of personal estate not arnoun~ing to over $200 and pronounced by the testator in his last itllness. 1_n the prespnce of two or more witnesse. i Yalid if reduced o wr1tmg and attested by said witne. es within three days after. fhhildren born after the date of the will of the parent are emitled to iniesst1;,1fe~ share of the parent's estate as if such parent had died  alured iage the by the  Columbia, but within the United Rtates. the acknowled~ment may be made before any judge of a court of record and of law, or any chancellor of a State, any judge or justi e of the supreme. circuit, or territorial courts of the United State,, or any justice of the peace or notary public; Provided that the certificate of acknowledgment aforesaid, made by any officer of a State or Territory, not having a seal, shall be accompanied by a certificate of the register, clerk, or other public officer that the officer taking said acknowledgment was in fact the officer he professed to be. Deeds made in a foreign country may be acknowledged before any judge or notary public, or before anysecretary of legation or consular officer or acting consular officer of the United States as such consular officer is described in ection 1674 of the revised statutes of the United , tates, and when the acknowledgment is made before any other officer other than a secretary of legation or consular officer or acting consular officer of the United, the official character of the person taking the acknowledgment shall be certified in the manner prescribed as to deeds out of the District of Columbia but within the United States. No deeds of conveyance of either real or personal estate by individuals shall be executed or acknowledged by attorney. Actions. The common law forms of actions are used except as modified by statutes. Administration. The probate court, a special term of the supreme court of the District of Columbia, has exclusive jurisdiction ?f the settlement of estates. A written petition stating the facts m the case must be filed with the register of will5. This petition is acted upon by a justice of the supreme court of the District, who sits daily. All executors and administrators and guai:dians are required to give bond with security to be approved by the court. The testator may waive the giving of bond, but the court always requires a bond su.flicient to cover the debts and legacies of the deceased not to exceed double the value of the personal estate. Ily act of Congress, certain trust companies incorporated thereunder may act as executor or administrator without bond, and corporations having power under their charters may act as sureties in all cases where individuals can. Creditors may be barred in thirteen months provided the required notice is properly published. Probate court may 01·der sale of real estate to pay debts, in case personal assets are insufficient. As.sets of non-residents in District of C'olumbia are subject to claims of local creditors for one year after death. Affidavits. Affidavits for use in the District of Columbia should be taken before a justice of the peace, notary public, judge of any court of record, or a United States ioner. Alien . Aliens may bold real and personal property in the District of Columbia, and may acquire real estate by descent. Alien corporations are prohibited from acquiring real est.ate. Corporation.;;; of which over 50 per cent of the stock is or may be owned by persons or associations not citizens of United States can not acquire or own real estate in District of Columbia. Appeals. Appeals will lie from the municipal court to the supreme court of the District of Columbia where more than $100 is involved, and in actions for the recovery of possession of real estate. Appeals may be taken from the supreme court of the District of Columbia to the c·ourt of appeals of the District of Columbia. Certain eas s are appealahl direct to the 'ourt. of Appeals. Appeals may be taken from th court of appeals to the suprenw court of the United 'tates: 1. In cases where jurisdiction of trial court is in issue. 2. Prize cases. 3. Constitutional questions or treaties Involved. 4. Where validity of any authority exercised under U. S., by an officer is in question and 5. C'onstruction of any Jaw of U. . is drawn in question. Arre t. There is no imprisonment for debt in the District of Columbia. The court has the power to imprison for non-payment of alimony in divorce cases. Attachments may issue at institution of suit or subsequently,  ~o~~ ~i!s~!h~;;~~~~h~rg~~~;J;~}• ~~e~n~~i!~t\i~e~~~e~~ and that defendant is a non-resident, or evades service of process, or is about to remove, assign, dispose of, or secrete property with intent to hinder, delay, and defraud creditors, or that the debt was fraudulently contracted. Creditor must give bond, with approved surety or sureties, to be approved by the clerk, in twice the amount of his claim for costs and damages if attachment is wrongfully sued out. Bills and ote . The common law of England relative to bills and notes, except where changed by statute, governs all cases in which they are involved. A law similar to the New York Negotiable Instru?~~~s ftw is now ip. force in this District. (See Legal Holidays and Chattel :Mortgage . To bill of sale or mortgage or deed of trust to secure a debt of any personal chattels whereof the vendor, mortgagor, or donor shall remain in poc; es. ion, is valid and effectual to pass the title herein, except as between the parties to such Instrument and as to other persons having actual notice of it, unless the same be executed and acknowled~ed and within ten days from the date of such acknowledgment recorded In the same manner as deeds of real estate; and as to third persons not having notice of it, such instrument shall be operative only from the time within said ten days when it is delivered to the recorder of deeds to be recorded. Collaterals. Tbo holder of the note as collateral security for deht stands upon the same foot,ing as the purchaser and may maintain suit thereon for his own benefit. The collateral pledged may be sold in accordance with the terms of the collateral note which w ually provides that the collateral may be sold upon non-payment of the principal of Lhe note, either at public or private sale, and in such cases the purchaser at any such sale obtains a valid title to the collateral sold. Contract . Every contract and obligation entered into by two or more por ons, whether partners or merely joint contractor., whether t;mder sea.I or not, w1itten or verbal, and y,hether expre:sed to be Joint and several or not, Is for the purposes of suit deemed joint and several. On the death of one or more of such persons, his or their executors, administrators, or heirs are bound by said contract in the same manner and to the ame extent ac;; if the same were expressed to be joint and everal. In actions ex contractu a!!ainst alleged joint debtors it is not nece ary for the plaintiff to prove their joint liability in order to maintain his action, but he i. ent,itled to recover as in actions ex delicto, against such of the defendants as shall be shown_ by the evidence to be jointly indebted to him, or against one only, 1f he alone is ·hown to be indebted to him, and judgment will be rend~red as if the others had not been joined in the suit. Any of several Joint debtors, when their debt is o,·ecdue. may make a separate composition or compromise with their creditors. Cora>orations. Any three or more pe1·sons may form a for the purpose of carrying on any enterprise or blL<siness which may be !awf~lly cond~cted by an individual, excepting banks of circulation or: discoUJ~t. railroads and such other enterprise or bu:iness as is otherWlse pronded for. . uch corporations may have a perpetual existenee. No such C?mpany 1s authorized to tran. act busine. until 10 per cent of the capital St(?Ck sball have been actually paid in. either in mon1:1y or_ property a_t its act1:1al value; and the recorder of deeds, before fllm_g any certificate of 11\corporation, must be batisfled that the entire capital stock has been sub cribed for in good faith. All of the tockhold~rs of such company are severally and individually liable to the creditors of the company in which they are stockholders for the unpaid amount due upon the shares of said stock held by them respectively.  ,i;~~~:.  SYNOPSIS OF  THE LAWS OF THE DISTRICT OF COLUMBIA RELATI. G TO  BANKING AND COMMERCIAL USAGES Prepared and Revised by JOHN B. LARNER, E::;Q. Attorney at Law, "'ashlngton Loan & Trust Bldg., \Ya.-;hington. Acknowledgment . Tho deed of a corporation shall be executed bhy having the seal of the corporation attached and being signed with tb e name of the corporation, by its president or other oflicer, and shall e aclmowledged as the deed of the corporation by an attorney  d~~t~~ei:◊in~h!!ta~r~sf11eY-~f:0Et~~d~i t~~rgor~;;~~od~~ i~ tt: annexed to and recorded with the deed. · Acknowleclgment of Deed!!. ·when any deed or contract under seal rela.Ling to land is to be acknowledged out of the District of Federal Reserve Bank of St. Louis  1869  J~~f Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-DISTRICT OF COLUMBIA  1870  for all debts and contracts made by such company, tmtil the whole amount of capital stock fixed and limited hy such company shall have been paid in, and a certificate thereof shall been made and recorde~. Every such company must annually, except insurance compames: within twenty days from the flNt of January, make a report, which shall be duly published and which report shall state the UIJ?Ol!-nt of capital and the proportion actually paid and the amount of exIStmg debts. Foreign corporations doing business in the District of Columbia are subject to service of process on their agents or on the perso:os conducting th_eir business, or by leaving copy thereof at th~ prmcipal place of !)usme s of such company, or at the residence of its ag-ent. The afl'aU"S of the corporation shall be managed by not less than three nor more than fifteen trustees, a majority of whom must, be residents of the District, to be annually elected, except for the ~rst year, by the stockholders, at such time and place as may be provided by the by-laws. The fee of the recorder for filing all certificates of incorporation where capital stock is authorized is forty (40) cents on each 1,000 of the amount of the capital stock of the et forth in its certificate, provided that no fee shall ¥,~1e~-~aw:;~ Courts in session continuom;ly throu~hout the year. Suits on contra<;ts,. accompa~ed by sufficient affidavit of right to recover, result m Judgment m twenty davs. exclusive of Sundays and legal holiday . after day of service on defendant, unle.·s defendant files an :~~ndi~;?etJ!~~ forth facts which, if true, would in law con titute  . Garni~hment._ After judgment the writ of garnishment may issue agamst specific propert~· or credits in the hands of the garnishee and on tbe return of the writ, if there be credits, the judgment or condemnation follows. The writ of g-arni hment ran not be issued again ·t tho United tates or the District of Columbia. Legal holidays are January 1st Fcbrua1·v 22d Holidays. l\Iay 30th, July 4th, first .Monday in • eptember (Labor Da\·) becem: ber 25th, or the following day when any of these dates fall' on Sunda:\:, and such day aJ may be appointed by the Presiuent of the Un1ted States for fa.~tm_g and prayer. Every aturday is a legal half and notes tailing clue on that daY arc not paYahle until hohday 1 .:\}onday, Process is not is ·ued or s rved by the marshal after 12 o clock on aturday. Husband and Wife. The wife's property is exempt from the husb~nd's debts. 'rhe husband may convey direct to his wife. The wife may all of her property of every description as fully a.<; if she were unmarried, and _may dispose of the same by deed. etc .. a.s fully as 1f she were unmarnod. 'he also ha.<; power to trade and to sue and be sued, bu_t no married woman under the age of twenty-one year· can make a valid deed or conveyance. On the death or a nrn.rriecl woman the hu.'-baJ?,d is enti_tle<_i to an estate by courtesy in her fee simple property of which she dJCs mtestate. On the death of the wife intestate her entire personal ~tate becomes the property of her husband. The bu..,band 1s not hable for the deb~ of hi. wife contracted before marri~ge. A_ husband, . who willfully neglects to provide for wife or :mmor child under sixteen years, in de ·titut.e circunl) tances, may be adjudged guilty of a misdemeanor, and may be fined, or imprisoned. Days of Grace abolished. by the court having juri ·diction. Deeds. The following form of deed is now all that is required in Interest. The legal rate of interest in the District of olumbia i the District. of Columbia to convey a fee simple title to real estate: 6 per cent, and in any suit where the contract is tainted with u.,;urv the This deed._ made this .... day of. ...... in the year ..... by me, ... . plaintifl' forfeits the whole of the interest so contracted to be rere'ived, of ...... , w1tnesseth: That in consideration of (here insert conand where usurious interest has been paid it can be recovered proideration). I, the said ...... , do grant unto (here insert grantee's vided action for such recovery be brought within one vear. In an name), of ..•.... all that (here describe tho property) action on a contract for the payment of a higher rate of interest than is l~wful in the Di.~trict. made or to be performed in any state or ................ ( eal.) Witness my band and seal. territory of the mted tat s where such contract rate of interest A deed must be acknowled~ed and recorded with the recorder of deeds is lawful. the judgment for the plaintiff shall include uch contract from the time of recording. A croll i · considered a interest to the date of the judgment and interest thereafter at the rate of Cl per centum per annum until paid. llY expr ss contract this Depositions. Depositions of witnesse to be used in any civil 1 rate may b increa ·ed to per cent. · cause whether the case be at i sue or not, may be taken under any of Judgment . Every judgment is good and enforceable bv an executhe following conditions~ 1. "\Vhere the witne lives beyond the from the date when an years twelve of period a for thereon issued tion Di~trict of Columbia. 2. Where the witness is likely to go out of the execution might first have been i! ·ued thereon or from the date of the Uruted States or out of the District and not return in time for the of the municipal court Judgments . facia scire by thereof revival last the reason any for or aged, or infirm is witness the Where 3. trial. are not liens on real estato until recorded in the supreme court of the party desiring hi._ testimony fear he may not be able to secure the same District of Columbia. at the time of trial, whether the said witne s reside within the DisJurisdiction. ( ee Actions, Appeals, and :\Iuniclpal Court.) tric~ or not. 4. If during the trial any witne is unable, by reason Limitation . Fifteen years for recover~· of land , tenements or of ·1ckne · • or other cam,e, to attend the trial, the depo ition of such executor's or administrator'· bond, five years; instruhereditaments; the at read and taken be witness may, in the discretion of the court, ments under seal, twelve years; ·imple contracts and recovery of pertrial. The deposition may be taken before any judge of any court of sonal property and damages for its unlawful detention, three years: the United , tate ; before any c mmissioner or clerk of any court of statutory penalty or forfeiture. libel, slander. a.!·sault. battery, maythe_ United tate , or any examiner in chancery of any court of the hem, wounding, malicious prosecution, fal ·e arrc. t or imprisonment. Umted 'tates; before any chancellor, justice, or judge or clerk of sual xception in favor one :mar; all other actions three years. a?Y court of any tate or Territory or other place under the soverof pe1 ·ons under disability. Acknowledgment to reYiYe aetion on 01gnty o_f t_he United States, or any notary public or justice of the tako debt out of statute. will payment }>art writing. in be must bt d tates: , United the of sovereignty the under place any peace withm Provided, that no such person shall be elig-ible to take such deposition , tarried ·w omen. ( ee Husband and Wife.) who is counsel or attorney for any party to the cause, or who is in ;\lortgai:e .·. :\Iort11:agcs are almost entirely '-Upplanted by deeds any,\ ise interested in the event of the cause. of trust, reqwrm11: no court proceeding.· to foreclose. Joining the wife is nee~- ·ary to bar dower. Do,,cent and Distribution. The ordinary rules of de cent may be stated as follows: 1. If an inte ·tate leaves a child or children, or :\Iunicipal Court. This court which takes the place of what was descendant of such child or children, his property de. cends to such formerly known as the justice of the peace court has jurisdiction child or children, or their descendant , subject only to the dower right to the amount of f)00. Thi · juri:diction is exclusive when the the to descended of the ,\idow, if there be one. 2. If the estate amount claimed for debt or dama~es or value of per.·onal property intestate on the part. of the father or mother and there be no child or does not exceed 100, and concurrent with the supreme court of the the descendant of any child, then to the brothers and sisters and their District of Columbia when it exreeds 100 and not in exce. of 500 descendants. -.i 3. Ir none, to the mother or father or the ancestor· with right of certiorari in cases of concurrent jurisdiction. of tile intestate and their descendants of the blood of the mother or Partnership . Limited partnership for the traru action of any father. grandmother or grandfather. a._ tho case may be, subject to the mercantile, mechanical, or manufacturing bu. ine · within tho District widow's dower. 4. If none. tpen to the hu band or wife and their may be formed by any two or more persons, but the number of special kindred in equal degree. equally. 5. . . ·o di! tlnction between whole partner· is limited to six. The special part.ners are not liable for and half blood on part of parent from whom e ·tate descended. 6. If the debts of the partnership beyond the fund contributed by them there be n heir, the lands shall escheat to the District of Columbia. the capital. A certificate settin11: forth the firm name; general to Personal Property: If a widow and no child or descendant • parent, nature of the bu ·in s. to be ronducted; name. of all the general brother, or sister or descendants, the widow shall have the wholo, special partners intere. ted therein, di ·tinguishing which are and in if only; of child or descendants, the widow shall have one-third general and which are . pecial, and their respective places of re ichild or descendants, but parent, brother, etc .• the widow shall have denco; the amount of capital contributed by each special partner one-half. The surplus shall go a follows: (1) If children or de ·cento the common stocl..:; and tho period at which t-he partnership is dants, to them equally per tirpe ; (2) If no child or de cendant, and to commence and terminate must, be fll d with the clerl, of the supreme a father, then to the father; (3) If no father, but a mother. then to after having be n acknowledged in the manner prescribed for court the mother; (4) If none, hut a brother or sister or descendants, to deeds. them equally per stirpes: (5) If none, to collateral relations in equal Prote t. ::\fay be made by a. notary public UI.1Cler hi. hand and degree; (6) There is no di. tinction betw n the whole and half hlood; . ea!; 01· by any respectable resident of the place wher the hill is (7) ~ 'o representation after de:-.cendant. of brothers and si. ters; (8) Beyond the fifth degree. the per ·onal estate goes to the Di ·- • dishonored, in the presence of two or more credible witne.~ ·e . "\\'here a foreign bill, appearin"' on Its face to be such, i. dishonored by nontrict of Columbia; (9) The husband on death of the wife is entitled acceptance, it must be duly prote ted for . ame; and whore such a to all her personal property in po se · ·ion without administration, but _which has no previously b en di. honored by non-acceptance. !>ill ;~i~fiJr:~~b~~d.usually resorted to for protection of parties dealing i · dishonored by non-payment, it mu t b duly protested for . ame. If it i. not protc.·ted the drawer and indorscrs ar discharged. Where Dower. A wife is entitled to dower in all real estate owned by the a bill doe: not so appear to be a foreign hill, protest ther of in case husband at the time of his death, including equitable as well as legal of dishonor is unnece.·. ar:r. The protest mu.·t he annexed to tho bill estates. or contain a copy thereof and must state the (1) time and place for pr sentment; (2) the fact that pre ·entment wa made and the Evidence. (See Deposition .) mann r thereof; (3) th cau.·e or rea.1 on for prot ting: (4) the demand Executions. Executions may be le,·iod upon all good· and chatmade and the answer given. if any, or th fact that tho drawer or tels of the debtor not exempt. and upon gold and silver coin, bank acceptor cannot be found. notes or other money, bills, checks, promiS! ory note or bonds, or Record. . The exemplification of the record under tbe hand of the certificate of tock in corporations owned by ·aid debtor, and upon keeper of the . ame. antl the ·ea! of the otTice or court where ·ucb money owned by him in the hands of the mar.'hal or of the constable may be mado, is good and ufllri n e\"ldcn e to prove any rucord leaselegal all upon also and writ, uch charged with the execution of record made or entered in anv of the. rates or Territori of the nited hold and freehold estates of the debtor tn land. Executions on judgStat s: and tho certificate tif tho party purporting to he the keeper ments before justices of the peace ma~· be super oded, according to of such record. accompanied by uch . ea!, ls prirna fa ie evidence the amount of the judgment, upon good and sufficient security being 9f th~t. faet. A copy of tbo record of any deed or other instrument entered by a person who may at the time be the owner of umcient m wr1tmg not of a. t01 tameutary character where the laws of the real property located in the District, above all liabilities and exemp.'tate, Territory, or c-ountry where the .-amc may be record d require tions, to ecure the debt, eo ·t and intere ts from one to sb:: months, such rocord, and whl ·h h~ b en re<'ordecl ag-r eably to such Jaw , but there can be no i;tay of execution for wages of servants or common and the copy of any ·ill which . aid la\li. r •quire to be admitted laborers, nor upon any judgment for le. than 5. to probate. aJ?d record, by judicial deer e, and of the deer e of the Exemptions. (Actual residents.) In addition to wearing apcourt adm1ttmg the same to probate and record, uncler the hand parel, etc., household furniture to the value of 300, implements of the clerk or other keep ·r of ·uch record and the ea! of the court of debtor's trade or busine. · to the value of 200, stock for carrying or offico in whi_ch th r cord has b en mad , i · prima faci evidence on business to amount of 200, one horse, harne and cart, wagon to prove U1e en·t nc and cont nts of .·uch deed, will or other in~t,ruor dray, and earning of married men or heads of famili ·• not to mcnt in writin~. and that it " · e.·ecuted as it purpor · to have been, exceed 100 por month for two months. Exemptions are only allowed Ta. ·e. . The rate or int •1· st is now ·ubj1• t to the ,, ill of Congress where the party claiming uch i · the head of a family or householder to be fl: ed each year as may be exp di n • At pr >sl•nt tho rat is residing in the District. 1.05 per hundred upon ll!·se · (d valu s of r al and pl't. onal property . flxf d at appro.·ima ly t" o-third: of .A.· e sm 'nt · of real cstat a uitJ may be instituted in the supreme Foreign Judgment . real value. P nalty of 1 p r c nt p r mcmth for rl fault in payment. court of the Di trict of Columbia on any jud1.nnent of a court, of record • \\ a . l' ment arc made Taxes are pa~·ablc in ,:\lay of each Yl' r. in any other jurisdiction. The declaration in any such case must be every two years for real estate (unlc .· improveuwnts ar • put on) and accompanied by a transcript of the record of. uch judgment verified every year for personal property by a perman nt Uoarcl of ,\.-s •~sorsaccording to the act of congre.·s in such cases made and provided, and Intangibl s arc taxed at th rato of three-t"nth. of ono p rrentum of judgment In due course may be rendered on such transcript as in the fair \'alue thcr of. any other case.  sls.  :~i~~t\:~fct  0  ge  ca  d Fe  Pl:  th  BANKING AND COMMERCIAL LAWS-FLORIDA Trust Companies. Trust companies can be organized under the general provisions of the code on that subject. No tru.. t company can be incorporated with less capital stock than $1,000,000. May do a storage business with a capitalization of not less than Sl,200,000. Foreign companies desiring to operate in the District must first comply with the provisions for the organization of trust companies under the laws of this District. Wills. All wills and testaments must be in writing and signed by the testator, or by some other person in his pre. ence and by his express directions, and shall be attested and subscribed in the presence of the said testator by at least two credible witnesses. No will, testament, or codicil is effectual for any purpo e whatever unle · the person making the same be, if a male, of the full age of twenty-one years, and if a female, of tbe full age of eighteen y ears, and be at the time of executing or acknowledging it, of sound and disposing mind and capable of executing a valid deed or contract. Any will executed after January 17, 1887, and before January 1, 1902, devising real e ·tate, from which it shall appear that, it was the intention of the testator to devise property acquired after the execution thereof shall be deemed, taken and held to operate as a valid devise of all such property; and any will hereafter executed. which shall by words of general import devise all of the estate or all of the real estate of the testator shall be deemed, taken and held to operate as a valid devise of any real e tate acquired, by said testator after the execution thereof, unless an intention shall appear to tbe contrary. '\Vhere a devisee or legatee dies before the testator, leaving issue, such i ue stands in the place of the deceased devisee or legatee unle a contrary intention appear from the will .  r  e  SYNOPSIS OF  THE LAWS OF FLORIDA RELATING TO  BANKING AND COMMERCIAL USAGES Revised by  HALEY  &  HEINTZ,  Attorney at Law, Jacksonville, Fla.  Accounts. Open accounts are barred in three years. AcknowledgIDents must in every instance be under o!Jicial seal. If made in the Rtate of Florida, may be made before any judire, justice oft_he peace, clerk or deputy clerk ofa court of record, or notary public; or !f made out of the 'tate, and within the United State·, before a. United States Commissioner of Deeds appointed by the governor of this State, or before a judge or clerk of any court of the United States or of any state territory or djstrict, havjng a seal, or hefore a notary PUblic or justice of the peace of such state, territory or district, ha\'lng abn official seal, and the certificate of acknowledgment or proof hall e Under the seal of the court or officer as the case may be. If made out of the United States, before any commissioner of deed· appointed b Ybthe governor of the . tate to reside in such country, or any notary Pu lie of such foreign country, or before any minister charge d'aJiaires, consul-general consul vice-consul, commercial ag-ent, or vice-comgiercial agent of the United State appointed to reside in such country.  die~~efua~;:f e~faii~~sfb~ er;.~';:Jl:d ~ f~~~~n~i i!h;o~t:~~~g:S real estate. A wife's acknowledgment must be taken separate and ~art from her husband. Officers must certify that the grantors are nuown to him. The following is the usual form adopted, -viz:  gf  0  e  Coun~;a~t ~~ ~-l~~i~_a.' .... } Before the subscriber personally appeared ............. . ...... and his Wife .......... known to me to be the individuals de.-;cribed in and who executed the foregoing instrument who acknowledged that they executed the same fo. the uses and purposes therein expre ed &nd the said .............................. wife of the aid . .... . ·fromb~~~gs~i1 ~t~sl~~e~c~~Ji~::d e:;cffe~1a~:ga[£ii shhe executed tbe same freely and voluntarily, and without fear, appreension, compulsion, or constraint of, or from her said husband, and for the purpo e of renouncing and relinquishing all her right, of whatsoever kind, in and to said property. ?_i~~n under my hand and seal official this ........ day of ....... . 19  anci" apart  ,....  otary Public.  ,.viy COmmission expires. . . . . . . . . . . . . . . . . . . . . . . . . . . ( ee notaries.)  Action . Suits shall be begun only in the county (or if le than 1100 in justice district) where the defendant re ides, or where the Federal Reserve Bank of St. Louis  1871  cause of action accrued, or where the property in Jit.igation is. If brought in any count,y where defendant doe>S not reside, the plaintiff, or some person in his behalf, shall file with the precipe or bill in chancery, an affidavit that the suit is brought. in good faith and with no intention to annoy the defendant. This latter provision does not, apply to suits against non-residents. Where there are joint defendants suit may be brou1?;ht in any court (or justice district) wher · any one of the defendants resides. or where the cause of action accrued or where the property in litigation is. Corporations (domestic) can only be sued in a county where they keep an office. Foreign corporations may be sued in any county where they have an agent, or where the cause of action accrued or where the property in litigation is. Adrnini tration of Estates. Upon the death of a person inte.<;tate or having made a will but appointing no executor, the county judge appoints an administrator, preferring fu•st the next of kin; but if none such apply, then, upon notice given by publication, any creditor or suitable person. No minor can be appointed. If no one applies for letters of administration within sixty days after death, the probate court may order the sherifl' to act. 'l'he administrator appointed by the court must give bond in amount to be fixed by the probate judge, respect being had to the value of the e tate. The sheriff when acting as administrator is liable upon bis official bond. Claims against an estate are barred after two years from date of notice given by administrator to present same. Debts due more than five years prior to death are barred, saving to married women, minors and per ·ons non compos mentis, imprisoned, or out of State, three years, after removal of disabilitie.5. The compensation of the administrator is determined by the court and. in addition to compensation for his ordinary duties, not to exceed 6 per cent of money received for ales made of personal and real property. Administrators must make annual settlements before the first day of June each year or forfeit commi sion . The Circuit Court is empowered to authorize administrator or executor to carry on deceased ·s trade or business for a reasonable time. Affidavits may be made before any judge, clerk of the circuit and supreme courts, ju, tice of the peace, or notary public. Aliens. No distinction between any citizens, except that they are not allowed to vote. Appeals. Appellate proceedings for the common law side are by writ of eITor, which must be sued out within six months from the date of the judgment. The record must be fl.led in appellate court on or before the return day of the writ, under penalty of dismissal. Questions of fact can only be taken up by bill of exceptions, which must be presented within the term of the court unle. by special order the time is extended. Appeal in chancery may be taken within six months and the law governing writs of error as far as it relates to filing of transcripts of records and proceedings thereon and filing assignment of eITors, the duty of appellate court in giving judgment, in causing execution of its decrees and quashing writs of error, are applicable to appeals in chancery. Notice of appeal in chancery must be filed with clerk and recorded in minutes. This gives appellate court jurisdiction. Arbitration. Parties to the controversy may make a rule of court of any arbitration to which they may desire to submit by flling a statement of agreement of the matters they desire to arbitrate in writing with the court having jurisdiction, which statement shall include the names of the arbitrators and the umpire. An award upon such arbitration can only be set aside for fraud, corruption, gross negligence. or misbehavior of one or more of the arbitrators or umpire, or evident mistake acknowledged by the arbitrators or umpire, who made and signed the award. Arrest. No arrest for non-payment of money unless it be for nonpayment of a fine lawfully imposed. As ignrnents and Insolvency. Assignments by insolvents are provided for by law. Preferences are not allowed. All property, except that which is exempt, must be surrendered to the assignee. Assignee gives bond and winds up estate. Attachment process may issue upon affidavit made, setting forth that amount is actually due; that plaintiff has reason to believe defendant ,viU fraudulently part with his property before judgment can be recovered or is actually removing his property, or is about to remove it out of the State, or resides beyond the limits thereof, or is actually removing or about to remove out of the State, or absconds or conceals himself or is secreting property or fradulently disposing of same, or actually removing, or is about to remove, beyond the judicial circuit in which be, she, or they reside. Attachment may also issue for a debt not due, upon affidavit stating that the debt is actually existing, and that the defendant is actually removing his property beyond the limits of the State, or is fraudulently dispo, ing of his property for the purpose of avoiding the payment of his just debts or demands, or is fraudulently secreting his property for such purposes. Proof must also, be exhibited to the officer by affidavit other than that of the plaintiff, of the existence of the special ground. The maldn~ of the_ a~davit causes all debts to mature for the purpo e of the smt. Plamtiff must give bond, with two securities in at least double the debt or sum demanded. Service of notice of the suit may be either personal or by publication where attachment is levied and property is not retaken by defendant. No arrest allowed in civil actions. Writs of garni hment may be issued at commencement of suit or at any time afterward, provided the plaintiff, his agent or attorney, will make affidavit that the debt for which the plaintiff sues is just, due and unpaid; that the garni5hment applied for is not sued out to injure either the defendant or the garnishee; that he does not believe that defendant will have in his possession after execution shall be issued visible property in this state and in the county in which suit is pending upon which a levy can be made sufficient to sati ·fy the amount of plaintiff's claim, stating the amount, and, except in cases in which plaintiff has had an attachment or obtained his final judgment, he, his agent or attorney, must enter into bond payable to defendant in double the amount of the debt, conditioned to pay all co t. and damages which defendant may sustain in consequence of plaintifr's improperly suing out the writ. Banks. o banldng company shall be organized with a capital less than $50,000, except that banks with a capital of not less than $15,000 may with approval of comptroller, be organized in any city or town containing not more than 3,000 inhabitants, and that banks with a capital stock of $25,000 may, with the approval of the comptroller, be organized in any city or town of not more than 6,000 inhabitants. avings banks may have not less than 20,000 capital. Banks are formed as other corporations are, and can not begin busines until authorized by the comptroller. The comptroller of the State may inspect and supervise the business of tbe bank, except national banks, and inspect and examine its books, papers, documents, minutes, and everything pertaining to the acts of the bank. Banks are required to make full and complete reports wheneyer called for by the State Comptroller in such form as he may prescribe, and advertise in January of each year amount of stock, property, and contractual indebtedness. Before organization the whole of the capital stock must be paid in cash. Stockholders are individually liable to the extent of their stock at the par value thereof, in addition to the amount invested in said shares. Directors must be citizens of the United States, a~d own t~n shares of tock of 100 per share. The comptroller, with the aid of the courts, winds up the affairs of insolvent banks. Private bankers are subject to all penalties of the State Federal Reserve Bank of St. Louis  1872  BANKING AND COMMERCIAL LAWS-FLORIDA  devises, etc. No person is excused from testifying or producing documents in trialc; for bribery, burglary, larceny, gambling, or illegal sale of liquors, on ground that it may tend to convict him of crime but no such person shall thereafter be prosecuted or subjected to any penalty on account of anything concerning which ho may so testify or produce evidence. Executions. Executions can be issued immediately upon the entry of the judgment and within three years thereafter, and are a lien upon real estate from date of entry, and upon personal property from the time the sheriff receives them. They can be renewed any time within twenty years from entry of judgment,. Both real and personal property are subject to sale under execution. Executions are returnable when sat,isfled, sheriff reporting progress at each term. Sale day o redemption of propfirst Monday in each month. No stay law. erty sold under execution. Exemptions to every head of a family residing in the tate homestead of 160 acres of land, and improvements, if in the country; onehalf acre of ground, if in an incorporated city or town, together with $1,000 worth of personal property. The exemptions in a city or town shall not extend to more improvements or buildings than the residence and business house of the owner. No property is exempt from sale for taxe. or asse ments, or for obligations contracted for its purchase, or the erection or repair of impro,·ements thereon, or for house, field, or other labor performed thereon. The wages of every laborer who is the head of a family residing in the State, are exempt from garnishment. Foreign Corporations. Commercial corporation.,;; can do business in this State without restriction upon complying with requirements as to foreign corporation, provided its name is not the same or so nearly similar to any domestic corporation as to cause confusion. (See Service of Process.) Foreign Judgments. Judgments obtained in the several courts of the State, may be recorded in any county and have same force and effect as if originally obtained therein. Judgments obtained in other States or countries, merely evidence, and have to be sued upon to be made effective as judgments. Fraud. ( ee Limitations of Actions.) Obtaining money or property under false pretense or by falsely persona ting another, are punishable criminally. Garnishment. ( ee Attachment.) Guaranty Companie . Guaranty Companies are permitted to become surety upon bonds for all purposes after complying with certain statutory requirements. Holidays. Defined by statute are: Sundays, January 1st, January 19th, February 22d, April 26th, June 3d, July 4th, First .Monday in September, second Friday in October, Thank giving Day, Christmas and Shrove Tuesday or ~Iardi Gras in cities where there is a Carnival Association organized for the purpo e of celebrating it. Husband and ·wue. The husband has full control of wife's property and i. not chargeable by the wife with the rent and profits. Must be joined with wife in sales of her property. Homestead can only be alienated by their joint deed. Husband not liable for wife's antenuptial debts. Ha no interest in her separate earnings, Has action for negligence C'ausing her death; wife's property not generally liable for husband's debts. ,vife may sue with respect to separate igr\~!o~tatfh~~\e~~eie°ef ~2 1~o:S e;;i: \1'oig/~g~~i~J:;o~~5cf.ay(~~: estate without. husband joining. Infant wife may join husband in sale of her real estate. Service of Process.) Costs. Non-resident plaintiff required to give $100 bond to secure Injun<·tions. Injunctions are granted without bond upon afficosts. The defendant may have suit dismis.<sed if bond is not given. davit of inability to give bond, and upon proof satisfactory to the that such affidavit is true, and that the statements of the bill judge Courts. Circuit courts hold two terms a year in each county, are true. Injunctions are granted to stay proeeedings at law; to except in twelfth where four terms are held and in first, ninth, eleventh the sale of property under execution or decree ohtained against restrain have and year, a terms three and fourteenth circuits where they hold one other than the owner of the property; to restrain the destruction original jurisdiction in all equity cases, also in all cases at law not of timber by cutting, boxinit, or otherwise; to restrain a levy upon cognizable by inferior courts. County courts have juri diction of exempt property; to prevent the claiming of exemptions upon property amounts not exceeding $500. County judges, at all times open for not legally exempt; to preYent the removal from the State or mortprobate busine s, have full probate power , have also civil jurisdiction personal property, and to abate bawdy houses and gambling gaged to extent of $100. Justice's jurisdiction. $100. dens. judgto re<luced is claim Creditors' Blll may be brought before Statutes suspended by national hankruptcy law. Insolvency. ment, but suit at law must be flrst brought and judgment must be Insurance Companie~. Foreign and domestic, are placed, by obtained before decree can be rendered. statute, under control of tate treasurer. They muc;t annually file Days of Grace are abolished. a statement with. and obtain from tbe tate treasurer, a certificate before being authorized to do busine s. Certiflt·ate may be revoked Depositions may be taken upon commission when witness resides If company refuses to pay judgments which have been legally obtained out of the county, or is bound for se)\, or ls about to go out of the against it. State to remain until after the trial of the cause, or is very aged or infirm; or when oath is made that a material part of the ca.-se or defense Interest. Eight per cent is allowed on judgments and contracts depend,;; upon the testimony of uch witness. The time for the suing where interest is payable but no rate i specified. Contract for more out of the commis.<:ion, the names of the witnesses, and the name of than 10 per cent i usurious, and all interest forfeited. one comrois.c;ioner must be given to opposite side a reasonable time Jud~ment of a court of record are a lion for twenty years upon before commission is is. ued. Printed instructions for the guidance of real e ·tate of debtor within the county where rendered, and may be commissioners usually accompany commis, ion. Fees of not le than extended to other counties hy recording certified tran ·cript of judg$5 a witness are to be taxed as costs by the clerk and paid by losing ment in any county where a lien i. sought. Judgments of jm,tice of the party. peace may be made a lien upon real e tate by recording in the office Descent and Distribution ot Property. Property descends: 1. of clerk of circuit court. To the children and husband in equal shares. 2. lf there be no Liens. In order to ecure a lien by !is pendens, a. statement must children then all to the husband or wife. ;3, If there be no children, be filed with the clerk of the circuit court, and recorded by him in a husband or wife, then t,o the father and mother in equal shares, or to book kept for that purpo e, setting forth the name of the parties. and survivor. 4. If no father or motlrnr than to the brothers and i ters the nature of the relief ·ought, and the de. rription of the property and their descendants. 15. If there be no brother or sister nor their tatut-0ry liens are given to upon which it i desired to obtain a lien. descendants, then the estate shall be divided into moieties, one of laborers and material-men. Property for which materials are furwhich shall go to the paternal anrl one to the maternal branches in liable to person. not in i done, boen has labor which upon ni-.;hed the following course: I. To grandfather. 2. To grandmother, uncles privity with owner to the e.·tent, of the unpaid balanre of debt due and aunts. 3. To great-grandfathe~. 4. To great-grandmother. amount. , tatutorY like in liable personally Owner contractor. to brothers and sisters of greaHtrandfathers. etc., passing first to nearliens upon real estate. in order to he available as ac:ain t subsequent e t lineal male and then to lineal female ancestors and their descendrerorded, and suit be t mu. notice, without lienors or purchw·ers no leaving issue, without if decedent, infant an or ant . The estate mu,;t he brouid1t within twelve months after tho furni. ·l1ing of the husband or wife, shall descend: 1. To father or infant. 2. :VI other of material, or the performance of the labor. Liens upon per:;onal infant. 3. Brothers and sisters of infant. 4. In ca.<;e no father, mother, property exist only while po.· ·e.· ·ion is retained by lienor. brothers or sic;ters or their descendants surviving, then it descends according to thll general rules of descent prescribed by statute. Half'ivil actions <'an only be commenced Llmita tion of Actions. children as bloods inherit only one-half. Adopted children are treated within the following periods after the cau. e of action . hall have of blood. Bastards inherit and transmit through mother's side, as to wit: Actions on Florida judgments, actions on conif legitimate. ;\liens have same right as citizens. There are no ' accrued, tra~ts or obligations in writing and under ·eal twenty (20) years: entailed estates nor right. of survivorship. actions for the reL·overy of real property, action on judgments of Dower. Deceased may not by will cut off his widow's right to courts of the -nited tates or any other state or territory seven (7) dower. If dissatisfied with terms of will, she may di.·sent within years. On contracts in writing not under ·eal, five (5) years. On one year after probate of will and she will then be entitled to one-third all actions not herein and specifically mentioned, four (4) years. of the real estate for life, and, if there are two or more children, to 1 Tr ·pass to realty, action upon liability ereated by statute other one-third of the personalty in fee simple; if there are no children, or thau a penalty of forfeiture. taking, detaining or injury to chattels, he may only one, she will be entitled to one-half the personalty. for relief on the ground of fraud, upon contract not founrled upon within one year elect to take a child's part in lieu of dower. If the instrument of writing, inC'lucling an action open acC'ount for goods. ware:- and merchandise, three (3) year:;. Actions for libel, slander, husband die inte.·tate, without children, the wife takes the whole a ·sault, battery, false impt·i ·onment, or an action by another than the estate, or dower, at her election. State upon a tatute for a penalty or forfeiture two (2) years. .A<·tions Evidence. ,vitnes.o;;es not disqualifled by rea.c;on of interest. In for wrongful death of a child, action,~ agaifu railroad companies for civil cac;es, husband and wife may testify for or against eac·h otherkilling cattle, and any action by the . 'tate for a statutory penalty or lo suits by or against lunatics or personal representatives. heirs-at. forfeiture, one (1) year. law, next of kin, a.c,signee, legatee. devisee, or survivor of a person deceased, no evidence of a transaction or communication between tarried ·women retain their property, real or personal, owned such lunatic or de<·ea.c;ed person and the opposing party or those under at marriage or acquired thereafter I.,y gift, devi e, descent, or purchase, whom he claims, can be given by the opposin~ party, unless such eviand it is not liable for husband's debts except by her written consent dence Is first offered in behalf of such lunatic re;>resentatives legatees executed according to law rogul· ting conveyance· of marrio<l women banking laws and to the supervision and control of the State Comptroller. No new private banks permitted after June 4, 1915. It is a misdemeanor to make wilful and malicious derogatory statements affecting banking institutions. Bill~ of Lading. Bills of lading are evidence against the carrier of the direction by which freights are to be received, carried, and delivered -collector or holder of commercial paper, attached to a bill of lading not a warrantor of the quantity or qualif,y of the goods represented thereby, except by expres.-s contract in writing, and the officers, agents, and employes of the carrier are requied to comply with the terms of the bill of lading under penalty of criminal prosecution. Chattel Mortga~es and Deeds or Trust. All conveyances intended to secure the payment of money are mortgages. Chattel mortgages must be recorded or the property delivered to mortgagee to make them affectual against. bona flde creditors and purcha.c;ers for value. Injunction will be granted against the removal of mortga!.?ed personal-ty from the State; can only be foreclosed by bill in chancery unless under 5100, and upon personal property, when a common law action may be brought in justice of the peace court, and mortgage flied with precipe. The form and effect of trust deeds have not been disturbed by statute. It is a criminal offence to mortgage personal property more than once without the conc;ent of first lienor. Chocks and l)ratts. It is a felony to obtain money or goods by drawing and uttering check or draft having insufficient funds on deposit to pay same, provided the check or draft is presented in due course and drawer fails to pay same, or return the consideration received, within twenty-four hours after written notice of dishonor. Collateral Security. Tt ic; a misdemeanor to sell, pledge. loan, or in any way dispose of collateral security without the consent of pledgor. A written agreement may be made at the time of making the pledge for the sale of the collateral in such manner and upon such terms as the parties may desire, but notice must be given to pledgJr ten days prior to sale. Contrac:ts. Statute of Frauds. In order to bind an administrator personally, or any one for the debt or default of another. or one upon an agreement made in consideration o~ marriage; or upon contracts for thesaleoflands .tenements.or hereditaments or any uncertain interest therein or for any lease thereof for a period longer than one year; or upon an agreement not to be performed within one year, there must be an agreement, note, or memorandum thereof in writing signed by the party to be charged, or some one lawfully authorized by him. Contracts for the sale of personal property must be in writing or the property must be delivered or earnest money paid. Newspapers and periodicals must either be subscribed for or ordered in writing. Conveyances. (See Acknowledgments.) All conveyances of real estate, or any interest therein for a term of years of more than two years, must be by deed in writing, signed, sealed and delivered in the presence of at least two subscribing witnesses; and in order to be effectual against subsequent grantee or incumbrances, must be recorded. The wife's eparate estate can be conveyed only by the joint deed of heraelt' and husband, and confirmed by her acknowledgment, taken separate and apart from her husband. Words of limitation unneceassy. Husband may convey direct to wife. Corporations may be organized for any lawful business under a general law. Stockholder liable only for amount unpaid upon sub-  B  w  tt h1  1 a1  tt w  in  b b b  a  w  h  a. b  j  ti  BANKING AND COMMERCIAL LAWS-GEORGIA Husband must Jorn in all sale , transfers, and conveyance of the wife's property, except when he bas been adjudged insane for more than a year. Wife may sue concerning her real estate without joining her husband with her in the suit. Widow takes as dower a life e tate in one-third part of the real estate of which her husband was seized a~na~:?;u;~u~t :£11~J>g}s!ft~~~~;~{y~i~e !~;inftb~~rcg;iri~rf with the children of the husband, and if there are no children she will inherit all the property, real and personal. Minors. Both sexes a.ttain their legal majority at the age of 21 years. Minors who deposit in savings banks may control, transfer or withdraw the money so deposited. All other contracts made by them are voidable, except for necessaries. Marriage removes disability of non-age of male minor. Mortgages of real estate must be executed and proved or acknowledged in the same manner as deeds, and they, likewise as ignments thereof, to be effectual against creditors or bona fide purchasers, must be recorded. Are foreclosed by bill in equity in the circuit property is court. Chattel mortgages must be recorded unle delivered to mortgagee and remains in his possession; becomes subject to debts of mortgagee if left in bis possession more than two years without the mortgage being recorded. Notaries. Both men and women over twenty-one years may be appointed notaries public. They must renew commissions every four years. May administer oaths, take acknowledgments and perform marriage ceremony. $500 bond is required to be given. Certificate must show date of expiration of commission. Notes and Bills ot Exchange. Form and interpretation defined by statute. No requirement that it shall be made payable at a bank or any fixed place. 5 per cent damages are allowed on foreign commercial paper protested in this tate. Negotiable instruments falling due upon a holiday (see Holidays) are payable on the next ucceeding business day. Instruments falling due on Saturday are to be presented for payment on the next succeeding business day, except that instruments payable on demand may, at the option of the holder, be presented for payment before noon on Saturday unless that entire , day is a holiday. Partnership, Limited, and Special. Mone. Powers of Attorney. Any contract or conveyance may be made by power of attorney. A conveyance of a married woman's real estate by power of attorney In order to be valid the power of attorney must be acknowledged by her separate and apart from her husband, and the acknowledgment must state that she executes it freely and voluntarily, without compulsion, fear, apprehension, or constraint of or from her husband. The husband mu t join either in the deed or powers of attorney. Powers of attorney for the conveyance of real estate must be recorded. Probate Law. (See Administration of Estates.) The county Judge has original jurisdiction of all matters relating to the administration of estates of decedents. Protest. (See Notes and Bills of Exchange.) Records. Records of deeds and mortgages are kept in the office of the clerks of the several circuit courts, and the original must be recorded in the county within which the property lies. Wills are required to be recorded with the several county judges and may be probated in any county in which the deceased left property, if be dies out of the State. If death takes place within the tate, then in the county in which he has bad residence, house, or other place of abode at the time of his death, and if he had none such, then in the county wherein he died. Redemption. None, excepting tax sales. Replevin lies for good'> or chattels wrongfully taken, except when taken for taxes, or under execution, or at suit of defendant when the Property was originally replevied from defendant and has been delivered to plaintifl', or when plaintiff is not entitled to possession. Affidavit must be flied, de. cribing property sought to be recovered, and stating that it was not taken for any tax, fine levied by virtue of any law of the State, nor seized under execution or attachment against the goods and chattels of the plaintiff; liable to execution and bond in double the value of the property with two sureties given before the Writ is issued. Defendant may release the property within three days by forthcoming bond. Seal. A scrawl or scroll, printed or written, affixed as a seal to any Written instrument, is effectual. Service ot Process. Out of circuit court, made by the sberifl' or his deputy. Out of county judge's or justice of peace courts, may be ervice in civil actions may be made made by sherill or constable. eit1?,er upon the person of the defendant, or by leavini?: a copy at. his residence with some person over fifteen years of age. Proce agamst a domestic or foreign corporation may be served upon any oftlcer or business agent of said corporation residing in Florida. If defendant corporation is doing or has done business in the tate, and the sheriff makes return that he cannot serve the process because of the corporation's failure to elect officers or appoint agents, the court will make an order requiring defendant to appear and defend upon a rule day after four weeks' publication of the order. Suits. Actions at law are commenced by filing a precipe with the clerk. Personal service is required except in suits by attachment and garnishment Writs are returnable on the next rule day, provided ten days intervene· if not then on the rule day in the next succeeding month. If no appearance of defendant, default i · entered forthwith. Default may be entered for want of plea or other pleading on rule day, next after appearance day. Taxe . Taxe are not due and payable until the first day of November, and if not paid by first day of the following April property may be sold. Owner has two years· within which to redeem. Taxe are a lien from the first day of the year of the a. e . ment. ai:id have the force and e.trect of a judgment upon which execution may J.SSUe. Testimony. (See Depositions.) tqck is tran ferable in the manner prescribed Transfer of Stock. o stock can be transferred until, aft-er all pre,ious in the by-Jaws. asse.~<iments thereon have been fully paid. The transferee succeeds to all the rights and liabilities of the prior holder. Warehouse necctpts. Uniform ·warehouse Receipts Act adopted, and effective after July 31st, HJl 7. Wm . Any person over twenty-one years old an,~ of ound mind may make a will This includes married women. "ills or real e ·tate must be signed by testator or 1:,ome person in hi pre. ence and by his express direct,ion and must have two witne.· es who must ubscribe In tei;~ator' · pre ence. Wills of personal prop_erty mw t be in writin_g and signed by the testator or ·ome one ID h1 pre.·ence. and by bis ·uncupat,ive wills are good ru to personal property. express direction. RevocaUon may be by subsequent will or codicil atte.-;t •ct like the original, or by burning, cancelling, tearing or obliterating the same by the testator or by his dlr ct,ion and consent, or by the act and operation of Ja.w. WJIL-, must be probated before ~dmittance in evidence. .l<'oreign wills, when duly probated accordmg to law of the State, where made and duly recorded in this tate, are as effective as wills executed in tllls State. Foreign wills are construed according to law of tate where they are executed.  1873  a:t!1~  n  e Federal Reserve Bank of St. Louis  SYNOPSIS OF  THE LAWS OF GEORGIA RELATING TO  BANKING AND COMMERCIAL USAGES Revised by RANDOLPH & PARKER, Attorneys at Law, Atlanta. (See Card in Attorneys' List.) Acknowledgments. (See Deeds.) Actions. All distinction between suits at law and in equity 1s abolished. Equitable relief can be had in superior courts of law. Administration of Estates. Letters of administration issue in the line of preference, first to the hlL-,band or wife, second to the next of kin, relations by consanguinity are preferred to those by affinity. If there are several of the next of kin in the same degree, preference is given to that one selected in writing by those most interested in the estate. If no preference is expre. · ed the ordinary exercises his discretion. If no application is made by next of kin a creditor may be appointed, and if no application is made the ordinary will vest the administration in a county administrator, an officer authorized by statute for that purpose. Administrators must give bonrl in double the value of the estate. Out of the estate of each deceased person, the first charge, after funeral expenses, is a year's upport for the family, to be laid ofl' by co=issioners according to the condition and standing of the family. Foreign administrators may act in this State on giving bond to the ordinary where they qualify. The bondsmen must be residents of this State. A citizen of any other State may act as executor of the will of a deceased citizen of this State when he has the same interest and will give the rune bond as in the case of {i~:ifil1a~d~fg;\~~he !8i~~f \1'?~~rif o1t~! c~~\~stom;hi<~~~u1ft is brought, a properly authenticated copy of their letters of administration. Affidavits. Pleas and defenses in the courts of this State which are required to be under oath, may be made before any official of the State or county where the oath is made, who is authorized by the laws of such State or county to administer oaths. Prima Facie the official attestation of the ollicer is evidence that he was authorized to act. Any non-resident seeking equitable relief, when called on to verify proceedings, should be sworn before a commissioner of this State, or a judge of a court of record where the oath is made, with the attestation of the clerk of such court that the signature of ~~~tu~rr~o~~~uine, and that the court over which he presides is a Alien . The subjects of governments at peace with the United States and this State are entitled to the rights of citizens of other States, resident here, in so far a~ they accord to them the privilege of purchasing, holding. and conveying real estate. Appeals. (See Courts.) Arbitration. Under the law of Georgia disputes and controversies relating to rights, or property, may be submitted to arbitration. Arrest. The constitution of Georgia declares that there shall be no imprisonment for debt. But in an action to recover personal r~~t~m~irnfou~1i~~~o~~;i;:~:~ct~~~ ~~~n~Itnt,:~~~trr:~ti~ g; jail unless be shall give bond and good security, or deliver up the 0  Ef~~~!!ar i~ ~~du~~ f~e satisfaction of the court that it is without Assignments for the benefit of creditors are perAttachments. A summary process of attachment will lie in the following. cases: 1. Where the debtor resides out of the State. 2. Where he 1s actually removing, or about to remove, without the limits of the county. 3. When he ab ·conds. 4. When he resi~ts a legal arre ~- .5. Wher_e he is attempying to remoYe his property beyond the hm1ts of this State. 6. \\ here he has disposed of or threatens to conceal. his property, liable for the payment of his debts or shall make. a fradulent lien thereon to avoid paying his debts'. Attachment will he to recover the purchase money of an article sold when the d~btor i still in the pos. ession of the property. Attachments may is ue upon affidavit by the plaintiff, his agent or attorney who must swear tilat one of the state of facts exists which authorize an at~ac~ment, and also as to the amount of the claim. Bond and ecurity. m double the amount sworn to, must accompany the affidavit on-resident corporations and t!Je officers require personal security. are liable to attachments, and one non-resident may attach the ~~~E:dt~iito~fit~est~ie~-resident in this State, except for wages  mitt'!:'J~ments. Federal Reserve Bank of St. Louis  1874  BANKING AND COMMERCIAL LAWS-GEORGIA  Bank . Any number of pen:-ons, not le: ~ than three, may form • a corporation for the purpose of carrying on the business of banking. ::luch corporations, when organized ha\·e power to have continual succession for thirty years, with right of renewal; to sue and be sued; to have and use a common seal; to appoint officers and agents; to make by-laws; to hold, purchase, dispose of, and convey such real and personal property as may be nece · ary for it' uses and business; to discount bills, notes, or other evidences of debt; to receive and pay out deposits, with or without interest; to receive special depo its; to deal in foreign exchange; to lend money upon personal security, or pledges of bonds, stocks, negotiable security; to take and receive securities by mortgage or otherwise on property real or personal. The business of the corporation shall be under the management, and control of a board of directors, to consist of not less than three or more than fifteen of the members of the corporation, who must be owners and holders of one or more shares. ~ o bank shall be chartered without a capital subscription in good faith of at least $25,000, of which not less than 20 per cent, and in no case less than $15,000 must be paid in before filing the declaration wit,h the secretary of tate. The corporation shall be responsible to its creditors to the extent of its capital and its assets, and each stockholder shall be individually liable for all debts of the corporation to the extent of his unpaid shares of stock, and shall be further and additionally liable, equally, and ratably (and not one for another as sureties) to depositors of said corporation, for all moneys deposited therein in an amount equal to the face value of their respective shares. All corporations doiug a banking business In this state shall make to the State bank examiner, under oath, statements showing the resources of the bank or corporation, at the close of business on any day specified by the bank examiner. No bank shall loan to its officers any money without good collateral, or other ample security, and when such loan exceeds 10 per cent of the capital stock it shall not be made until approved in writing by a o bank or corporation doing majority of the board of directors. banking business shall reduce its cash in hand, including amount due by banks and hankers, aud the value of all stocks and bonds actually owned and held, below 25 pee cent of demand deposits. ,_ ·o bank or corporation doing a banking business hall loan to any one person, unless such loan is amply secured by good collateral security, more than 10 per cent of its capital stock and surplus. Banks may charge same rate of interest as individuals and the rules of bank discount, that is to say, taking interest in advance within the lawful rate , have 'o dividend shall be declared by any bank been held not usurious. except from tbe net profits, nor ·hall the capital stock be applied to the purchase of its own share . If the a sets of a bank are insufficient to pay its liabilities, a receiver when appointed, shall bring suit against the stockholders in his own name for their unpaid subscriptions. In the absence of a contract. expre' ed or implied, to the contrary, the bank taking paper for collection i liable for tho defaults of its agents and correspondents to whom the paper has been entrusted for collection. If any insolvent bank or banker. with notice of such insolvency, shall receive money or general deposits, and fail to pay the depositor within three days after demand, such banker or officer in charge of the bank receiving the deposit shall be punished as prescribed in the penal code. The St.ate has a . pecial lien for all public money depo ·ited. State banks are authorized to become members of the Federal Reserve Bank. Bills of Lading and Prom is ory • 'otcs. A bona fide a. signee of a l>ill of lading of goods will be protected in bis title against the seller's ri~ht of stoppage in tran ·it. 1t will not be necessary to protest prombory notes in order to bind the endorser except, in the following case: 1. '\Vhere the paper is made payable on its face at a bank or banker's omce. 2. Where it is discounted at a bank or banker's office. 3. Where it is left at a bank or banker's office for collection. Accommodation endorsers, sureties and endorsers may be sued in the same county and in the same action with the maker, drawer or acceptor. Bills of exchange must be accepted in writing to bind the acceptor. A contract to pay attorney's fees cannot be enforced unless the debtor when served ten days before suit is filed with a written notice of intention to sue with amount and term of court to which suit will be brought, shall fail to pay such debt before return day. A waiver of homestead in a promissory note is a bar to such a claim as against the collection of such note. Promissory note.-; and contracts containing reservation of title to personal property must be executed before a notary public. justice of the peace, or clerk of a court of record, and must be recorded as mortgages to hold such property as against third parties or innocent purchasers. Checks. (See Notes, etc.) Collaterals. The holder of a note as collateral security for a debt stands upon the same footing as the purchaser. Property left in pledge or pawn may be sold at public sale to the highest bidder. upon thirty days· notice. Corporation . Power to create corporation in tbi. State is vested ·aid courts may in tbe general assembly and the superior courts. grnnt charters to all corp rations except hanking. insurance. canal, navigation, express, and telegraph companie and railr9ads. The Secretary of State may grant charters for the corporations abo\'e enumerated in manner prescribed by law in the particular case. A charter for a private corporation is obtained by a petition to tho superior court, setting fort:h, the 0!Jject, parqcul?,r busine.· ,-. c~rpor~tion name capital. place of bwuness, time for which mcorporat 10111s de. ·ired, not e~ceeding twenty years. The petition and order granting the ·ame constitute the charter. In such corporations t-he liabilities of the stockholder is ineasured by the amount of stock imbscription due by him. In tbe chat·ter of many hank now org-ani.-:ed tbe rule of personal liability varies. In ·ome bank· tockholders art; liable as partners: In others liability exists w1uer the g~neral rule, nz.,. to. ~he extent of twice the arnow1t of stock held, and ID some banks hahll1ty exists only to the e.·tent of stock and unpaid sub -criptious thereon. The payment of 10 per cent of the capital stock is nece.·sary before commencing busine.·s. General power:s of corporation· are conferred on all corporations organized in this state. All corporations or •anized under the laws of the 'tate or doing busine.· therein are required to register with the ecretary of 'tate and pay a graded license fee, with a minimum of . 10, maximum 2UIJ. \'oluntary di. .. olution of a corporation ma:i,: be .:-:ranted ~Y the Superior C'ourt u~on petition flied by the Corporation it authorized_ by two-th1rd_s _of cap1t~I sto_ck. Lost stock certillcates must be ertabhshed by pet1t1on to uper10r Court. Cost . A deposit of 10 i · re~uired iJ? courts of r0<:ord fro!'n non-resident; plaintiJis before the filmg of smts and a deposit of G 111 all divorce cases. Court ·. The term, jurisdiction, etc., of the several cour~s or the 'tate are as follows: J 'TICE 'OCRT~' hold monthly session-; and have ('ivil juris<lictiou up to 100. In crimin, l matt, rs they ar:o only committing courts. ~;O_ ~T.' OF ORl_H ... 'AR\ .~old_the1r sessions monthly and have Jur1. d1ct10n over will,;, adm1m trati(!n of estate.,. and of the conduct of administrators, executors an_d guardian~. COU ~TY 'O HTS ha\·e moutbly and quarterly se.·s1ons. The•~ IT\ jurisdiction is limited to controversies not exceeding aoo. COURT · hold four e ion. per annum, but the city court of Atlanta has ·ilc terms. The jurisdiction of city ~0~1rts i.' unlimitt;d exce1>t. in matters of di\'orce, titles to land and adm1111strat1on of eqwtable relief. The municipal court of Atlanta., recently established, replace. tlle Ju<;tices Cnurts. Its juri. oirt ic,nal limit is 500. It holds two terms each month. SUPERIOR COURT,' have jurisdiction of all ·uits  and controversies and have exclusive juri ·diction in equity powers, divorce cases, and suits involving titles to land, and on the criminal side exclusive jurisdiction of all cases involving life or imprisonment in the penitentiary. Deeds. Deeds to real estate in Georgia must be in writing, and should be executed in the presence of two witne ·ses. one of whom shall be an officer authorized for that purpo e. They should be recorded in the office of tbe clerk of the superior court of the county where the land lies, and all deeds, mortgages and other liens, should be recorded immediately to be available against third parties and innocent purchasers. To authorize the record of a deed to realty, it must be attested by or acknowledged before, if executed out of this State, a  f:?rfnY~c.sf!i: r~~gr~~di/~r c~~u1:ai: ~~~g~~~g~~~in:r (the certificates of these officers under their seals being evidence or 0  0~  the fact). When the deed is executed out of this tate before a notary public, the attestation should be under his hand and official seal. In case of acknowledgment it is better, as a matter of precaution, always to have two witness ·. besides the officer who takes the acknowledgment. If executed in this State, it must be atte ·ted by a judge of' a court of record of this tate, or a justice of the peace, or notary 1 ;;;egfig~e:: o%J~~ ~~~i~~1Iv~~~~olf ::rr°~:~rn\~':~~~rtPres~t~~~ quent to its execution the deed is acknowledged in the presence of either of the named officer·, that fact. certified on the deed by uch officer, shall entitle it to be recorded. (Act or 1 93.) Deeds to secure loans are in more common use than mortgages because they have been held to pass the absolute title and protect against year's support and dower, the equity of redemption remaining in the maker, can not be levied upon until the debt secured by the deed has been paid ofl'. Under the law of Georgia these deeds can not be foreclosed as mortgages, the note, they are given to secure must be sued to judgment, the land must be re-conveyed to tbe grant.or, and then levied on, but the lien of the judgment relates back to tbe date of the conveyance. In the Federal court.s, however, foreclosure can be made in equity as in the case of ordinary mortgage·. Usury will, however, void such a conveyance, only as to the interest paid on such debt. Depositions. Testimony is taken in this iate by written interrogatories where the witness is a female, or where the witness does not reside in the county where tbe suit is pending, or by reason of disability is unable to attend court. In all counties within this tate, depositions may be taken upon five days· notice to the other party of the tin1e and place at which the witne · is to be examined. 'rhis latter  r~~  N~i~~iti~;~~~:ieu ~~e~ ~At1f:gr \~i1~~r~h~u~1~:. ~~tt~~t '~~:~ mission, before a nof,ary public or any officer authorized to issue attachments. If within the state or if taken without the state, before any omcer of the state or county where taken, authorized by laws of' Georgia to atte t deeds or take acknowledgment , npon 10 days' notice to opposite party. In takin11; answers to interrogatories, which must be authorized by a commission is.sued for uch purpose 'ommi. · ioner · must by the court here, two commissioners must act. be disinterested and not related to either party, or coru1ected with the case: attorney· of the parties are incompetent. ~~one of the parties to the case, nor their agents or attorney·, can be present when the commission is executed. 'l'he witne · can only write bis answer in tbe presence of the commi. sioners. It i usual. and the better practice, for one of the commissioners to ,nite the answers of the witness as they are given. Depositions may be written with the typewriter, and commissioners ma:r adjourn their sittin~s from day to da:r. The following iru tructions for taking te ·timony are important: Instructions for taking answers to interrogatories: 1. Insert the commissioners' names in the commission; any two respectable citizens will do. 2. State the case as you find it. Then comes the caption, thus: (Hore insert the county and State State of. . . . . . . . . . . . . . County or .•........•... ss. where the commission is executed.) By virtue of a commission from the .......... court of .......•.. county, we have caused the person in said commi.. ion named to come before us, who being duly sworn true answer:s to make to certain interrogatories thereto annexed, depo. eth and answereth as follows: (Ilere insert answer· of the witne. ·e · to each interrogatory in order 3. Let the witne sign tbe answers; tben ay: "~wered, sworn to, and sub cribed before w. this .•.. da:r of. ......... 19 .... " Then sign your own names, adding the words .. Commissioner (L. .) " after eal all up together. using two wafers, each comeach name. 4. missioner WYiting his name with · · Commissioner'' across a wafer or seal. 5. , tate the case on the package, a.nd addre.· · it to the clerk of the court is.suing the commfr ·ion. 6. U it i · to go by mail, get the postmaster to receipt on tbe package. "Received from one or the commissioners (giving hi· name) the within interrogatories. to be forwarded by due course of mail." naming his po ·t-o.tilce. Testimony thus taken must be ent by mail, or by some person specially authorized by the commissioner to carry it to the court. De cent and Di trlbutlon of Property. The husband is the sole heir to his inte tate vife, unle.· she leave children. and in tbat event the husband and children shall inherit per capita, but the descendants of children shall take stirpe. Ir a man die without children, or the descendants of children, leavin" a wife, the wife is hi · sole heir. If there are children, or tho~e representing deceased children, the wife hall take a child's part, unle:,:s the share exceed five in number, in which ca,;e the l\-ife shall haYe one-tlfth part of the estate. I! the wife elect · to take her dower, ·he has no further interest in the estate. Children stand in the first degree to the intestate, and inherit equall)·. Po tbumous children tand upon the same footing with other children. Lineal de t·endant of children stand in the place of their deceased parent , and take per ·:tirp , and not p~r capita. Brothers and si. ter . taud in the 'econd degree and inherit if there be no widow or children, or rcpresentatiyes ot' children. The half-blood on the paternal :,;ide inherit equally with the whole blood. The father. if living, inherits equally "ith brothers and i.·ter ·, and stands in the same dec:ree. If there be no father, and the mother is ali\'e, she ball inherit in the ame manner as the father would. Heal es ate de ·ccnds direct to the heirs, and p rsonal e. tate to tbe administrator. But real estate is ubjec~ to administration ,for the purpose of paying debts. aud if nece · ·ar:r. for dbtributiou. Dower. In this t te the wife ls entitled to an e.·tate for !ffe in onethird of all lands of which the hu.·band dies 'eized or po. ·e.·,.,ed at the tnue of his death, or to which the bu band obtained title in right of his wife. There i. no necei;.sity for renunciation of do,, er in this state. and a married woman, on that question, need not join with her husband in conveying land, except inc, e · where. b fore 1 flu, he obtained real estate belonging to his wife, hy virtue of the marital relation. E. ·ccution . . Iu. t folio, the Judgment or d cree from which they i. sue. They are good for seven year· and may be renewed for a like period by entry nulla l>ona. nder the constitution and la~·s Exemption and Home tend . of Georl(ia, each bead of a family or guardian, or trustee of a fan~1IY of minor children, or of an a"ed or iullrm pc1-son. or a person hanmz: care and upport of dependent female:· of any age, who Is uot the head of a family, ball have e.·emption of realty, or personalty,. or both, to the ac:gregate or $1600. 'l'be d btor shall ha, e power to watYe or renounce, in writing, hi. right to the benefit or e emption al>o\tb'e stated, except as to wearing apparel and not e.·c eding 300 wor  of or sa de Up or  an  co th de. w  COi  po co an po fo ar iss wl re or ad 0\  ca lll  co  5.  pr  7.  in bu or 8.  0  1  for Stat dee X sory  Pay  BANKING AND COMMERCIAL LAWS-IDAHO of household and kitchen furniture, and provisions. The homestead or exempt.ion may be sold by the debtor and hi'> wife, if any, "ith the sanction of the judge of the superior court of the county where the debtor resides, or the land is situated. The proceeds to he re-invested upon the same uses. A general waiver in writing, of the homestead, or exemption, is good. Foreign Corporations. All corporations, except those chartered and organized under the laws of this State, are held to be foreign corporations. Such corporations are recognized by comity only; they are subject to attachment, but have all the rights of replevy and defense. They cannot exercise any corporate powers or privileges which by the constitution and laws of Georgia are denied to domestic corporations or the exerci e of which would be contrary to the public policy of this State. There is otherwise no restriction upon foreign corporations except in the case of insurance companies and building and loan associations, which are required to make deposits. All corporations are subject to license fees for doing busine and all are liable for taxes on property owned or held in the State' ( ee Corporations.) Fraud. Contracts, awards, marriages, judgments. sales, and wills are void when they are brought about and procured by fraud. Promissory notes when procured by fraud are void in the hands of the holder, who so procures them. The statute of frauds, as of force in Georgia, requires the following obligations to be in writinv, signed by the party, or his authorized agent, to be binding: 1. A promi ·e by an executor, administrator, guardian, or trustee, to answer in damages out of his own estate. 2. A promise to answer for the debt, default, or miscan·iage of another. 3. An agreement made upon consideration of marriage, except marriage articles as otherwise provided. 4. Any contract for the sale of lands, or any interest in or concerning them. 5. Any agreement that is not to be performed in a year. 6. A promise to revive a debt barred by statute of limitations or bankruptcy. 7. Any contract for the sale of goods, wares, and merchandise, in existence or not in esse, to the amount of $50 or more, except the buyer shall accept part of the goods sold and actually receive the same or give something in earne t to bind the bargain or in part payment. 8. An acceptance of a bill of exchange. Garnishments. This process may be invoked in any ca::--.Ie. Garnishment may be dic;solved by giving bond and a third party may claim a fund held up under garnishment and may release the fund by giving bond. Any person may claim exemption from garni bment as to wages to the extent of 1.25 per day and one-half of the remainder. llolldays. January 1st ( ew Year's Day), January 19th (Lee's Birthday) February 22nd (Washington's Birthday), April 26th (l\Iemoriai Day), June 3rd (Jeffer on Davi • Birthday), July 4th ndependence bay), First Monday in September (Labor Day), ecember 25th (Christmas Day), Thanksgiving Day. Interest. The legal rate of interest in Georgia is 7 per cent, but 8 per cent is legal when contracted for in writing. Parties charging usury forfeit the exce s if u ury is set up. Usury has no pre ·ent penalty in Georgia, except forfeiture of all interest paid upon the debt. Judgments create liens from their rendition upon the real or personal property of the defendant; all judgments at the same term rank equ~Uy, and property sold by a debtor _after judg~ent is ob~ained agamst him is only discharged from tbe lien of uch Judgment, if ,eal estate, after four years' posse sion by the vendee, and in cases of peronal property after two years'. Judgments, whether in the United tates court, or in any State court, obtained in any other county than that in which the defendant resides have no lien on the property of the defendant in any other county, unless the execution thereon is recorded in the county of the defendant's residence. Unless such execution is recorded as so required within thlrty days. its lien will only date from the time of record. (See Actions.) Jurisdiction. (.. ee Title Courts.) License. No licen. e is required of commercial travelers. Itinerant traders must pay license fees. Liens. Under the laws of Georgia mechanics, material-men, D?-aCbinists, employes of steamboats, millwrights, builders of go~d D?-llle machines, stone-cutters, and marble works laborers have special li4:Jns on property improved or worked on. Landlords have a general hen Which takes effect from the levy of distress and a special li~n on ~ops for rent of land on which they are raised. Common law hens of mnk!'lepers, factors, pawnees. carriers, attorners and others are recognized. Vendor's lien on land bas been abolished. Attorney· _hav~ a special lien on papers in their hands and on property recovered m swts brought by them or successfully defended by them. Limitations. 'uits on open accounts are barre~ after four year , on promic;sory notes and bills after six years .. op instruments under seal after twenty years, on suits for personal mJury after tw_o years. Seven years' adverse possession of real e tate under <;olor o~ title, and tw4:Jnty years' adverse po session witho1;1t c~~or of title, will bar the claims of all person<s not laboring under d1sab1hty. Infants have se, en Years to assert their rights, after becoming twenty-one years of ag_e. l\1arrted. Women. The wife may contract and sue and be sued m her own name in respect to her separate estate as a femme ·ole, except that she can not bind her separate esta~e by sll!-"etys"\liP for any one, and any promise to pay her husband s debt 1s void. She cannot sen to her husband or trustee for any purpose, except by order of the superior court. A wife or her heirs may sue and reco~·er from any Person money or property used by her husband to pay his d~bt where t~e creditor takes with notice. All the property of tl?-e wife at the tune of marria"e and all she may acquire by gift, inheritance, or purchase, hall vest 'in and belong to her, and shall ~10t J?e liable ~or the !lebt, default, or contract of hc.>r bus band. The wife with her children, if any, is entitled to twelve months' support out of the e tate (?f h~r decea~cd hu band. The husband is bound to supp_ort and ma~n!arn the wife, and his con ent is presumed to hez: agenc:y JD the pur hw,;e of necessaries. The wife's separate property 1s not _hable for deht;; contracted by her as a"'ent of her husband in the ordmary suppor~ of h rsetr and children but by special contract in her own capacity, and not a· agent for her husband, she could bind her separate estate, ~or that purpose. A manied woman can dispose of her property by will. l\fortgagcs. Mortgao-es are only security for debts. They may elll))racc property in the "'mortgagor's po session,, or to which he J; !'I- right of possession. 1'hey may cover a stock m bulk: but changm_g 1n Peciflcs, and after acquiring propertr. o pa~1c~ar for~ IS necessary, but it must be cleared that the mstr_ument wdicates ,ien, dci.cribes the property and specifics the debt 1t_ ·ecur ·. :\Iorw~ages on land are not goocl against dower, and a wife cannot waive her !1owe1· as against this lien. Mortgages must be executed and attested ID the same manner a deeds, except that in morte;ae;e on_ personal Property, only the official witness is ncce sary. ::--.Iortga" ~"1th power of .sale are valid in Georgia. Homestead and exemption may b_e Wawed in the mortgage. All mortgage on persol}al property mu, t be recorded in the county whcr the mortgagor re 1de;; ~ud the property is located. Mortgages on land must be recorded w the count.y Where the land is situated. Notaries. ommercial notaries, male or female, are appointed for four years by the superior courts, and for the state a~ large by the State Librarian. They must have seals and are au~horized to atte t deeds and mortgages and make prote. t of commercial paper. Xote and Bills Fxcb.ange. ( 'ee Bi_lls of Lading and Promissory Notes.) Promissory notes are negotiable by endorsement of Payee, or holder. notes payable to bearer are transferable by delivery  g  t e  t ·s d d  of Federal Reserve Bank of St. Louis  1875  only. Bonds, specialties, contracts, bills or lading, and warehouse receipts, are negotiable by endorsement or written assignment in the same manner as bills of exchange and promissory notes. Endorsements may be limited by express restrictions. Acceptances of bills roust be in writing. Transferers of negotiable instruments warrant that they are the lawful holders, have the right to sell, and that the instrument is genuine. Bona fide purchasers of negotiable paper aking the same for value before due, and without notice, are protected against any defense, except: 1. Non est factum. 2. Gambling, or immoral or illegal consideration. 3. Fraud in its procurement by the holder. Maturity gives notice of dishonor. No days of grace are allowed. Any draft, bill of exchange or check, drawn upon an institution or person with which the drawer has not sufficient funds on deposit to meet same, subjects the drawer to criminal liability unless the deficit is made up within 30 days. Probate Law. (See Administration of Estates, Deeds and Mortgages.) Prote ts. (See Bills of Lading and Promissory Notes.) Records. (See Deeds and Mortgages.) Redemption. There is no redemption in this State under judicial sales except in case of sale of property under tax execution where parties may redeem in twelve months if improved land and wild land within two years. Replevy. All property seized under attachment, distress, or other similar process, may be replevied. Prop~rty seized under process and claimed by the third party may be delivered over upon bond and security for its forthcoming to answer final judgment of decree. Revision. (See Courts.) Sales. Sales may be made to pay debts, but any sale of stocks of goods in bulk is deemed fraudulent unless the seller delivers to the buyer a list of all creditors and the amount due each. It shall then be the duty of the buyer to notify the <'reditors of his purchase. This notice must be mailed five days before completion of the purchase. Taxes. Taxes are a lien upon all the property of the debtor, real or personal, and its lien is preferred as stated in section herein relating to distribution of the estates. ales of property for taxes are conducted in the same manner as other judicial sales. One year in which to redeem is allowed. Wills. All persons of full age and sound and disposing memory, including married women, may make wills, and dispose of their estates. Wills must be executed in the presence of three witnesses, all of whom shall be present, must be called by the testator as witnesses, and must sign, and shall certify that they signed, in the presence of the testator, and in the presence of each other. Wills must be in writing, except nuncupative ,vills. Wilie; of citizens of other States, where executed according to the laws of the tate, and probated in solemn form in such State, which dispose of real or personal property in Georgia, may be admitted to probate in this State, when an authenticated copy of the will is presented, accompanied by a certificate of the governor of such State, under the seal of the State, that the official of the court where sucl:I__probate was made, had original jurisdiction of the subjectmatter. Wills art-l probated in the court of ordinary in the county where the testator resides at the date of his death. All wills executed out of this State by citizens of this State to dispose of property in Georgia must be executed according to our law. A foreign will, executed according to the law of Georgia, will constitute a muniment of title to real property without being probated in this State, when recorded on the record of deeds in tho county where the land lies. together with an exemplification of record admitting it to probate in another tate, certified according to the Act of Congress.  SYNOPSIS OF  THE LAWS OF IDAHO RELATI 1 G TO  BANKING AND COMMERCIAL USAGES Revi. R1cnARD0 & HAGA, .Attorney. at Law, Boise. in Attorney '  ee Card  Acknowledgment . All conveyances and other instruments required to be acknowledged in tbis tate must be acknowledged, if within the State, before a judge or clerk of a court of record, a county recorder, a notary public, or a justice of the peace. If without the State, but within the United tates, they must be acknowledged before any uch officer. or a commissioner of deeds for this State, or before any officer authorized by the laws of this State or_Territory..to_take Federal Reserve Bank of St. Louis  1876  BANKING AND COMMERCIAL LAWS- IDAHO  such acknowledgment. If without the United States. they must be acknowledged before a minister or charge d'afl'airs of the United States, resident and accredited in the country where the acknowledgment is taken, before a consul of vice-consul, a judge of a court of record, a duly appointed commissioner, or a notary public. The certificate of acknowledgment, if made before a justice of the peace, when used in any county other than that in which be resides, must be accompanied by a certificate, under the band and seal of the recorder of the county in which the justice resides, setting forth that such justice, at the time of taking such acknowledgment, was authorized to take the same, and that the recorder is acquainted with his handwriting, and believes that the signature is genuine. Proof of the execution of an instrument may be made though it has not been acknowledged. Form of married woman's acknowledgment the same as that of a single person. (See Conveyances.) Actions. There is but one form of civil action in this State. As action is commenced within the meaning of the statute when the complaint is filed with the derk. Every action must be prosecuted in the name of the real party in interest. Affidavits are used only to verify pleadings, to prove service of summons, notice, or other paper. to obtain provisional remedy. Aliens. Code provisions as to holding property by aliens have been repealed. (Bess. Laws. 1913.) Arbitration. Persons capable of contracting may submit to arbitration any controversy which might be the subject of a civil action between them, except a question of title to real property in fee or for life. Arrests. The defendant may be arrested in a case for the recovery of money or damages on a cause of action arising upon a contract, express or implied, when the defendant is about to depart from the State with intent to defraud his creditors; also for money or propertl' embezzled or fraudulently misplaced by a public officer or any person in a fiduciary capacity, or when the defendant has been guilty of fraud in contracting the debt, or in concealing or disposing of personal property, for the taking or conversion of which the action is brought; or when the defendant has or is about to remove or dispose of bis property with intent to defraud his creditors. Assignments and lnsolvenc:y. An insolvent debtor may be discharged of his debts by executing an assignment of all his property, real and personal, which, with a sworn inventory of property and schedule of creditors, must be filed in the district court. At a creditors' meeting, held after thirty days' notice given, one assignee is appointed, and claims proved. Court will be set aside property exempt, and issue order for direct payment of money, where no mortgage or pledge had been given, or where such security, if given. has been rendered neugatory by act of defendant. Assignee must furnish bond, with two sufficient sureties. Attachments. The plaintiff at the time of issuing the summons, or at any time afterwards, may have the property of the defendant attached as security for the satisfaction of any judgment that may be recovered. unless the defendant give security to pay such judgment. Defendant in a ciYil action for recovery of money or damages, under a contract, express or implied, may be arrested, when about to depart from the State with intent to defraud, or when the debt or obligation was fraudulently contracted. Banks and Banking. Idaho has a full and complete law upon the formation and regulation of banks and the formation of banking corporations. o banking corporation can have Jess than five directors. All banks, other than national banks, are under the . upervision of the Commissioner of Commerce and Industry. The banker has a general lien, dependent upon pos ession, upon all property in his hands belonging to a customer for the balance due him from uch customer in the course of the busine · . (Compiled tatutes 1919, secs. 5205-5304, Laws 1921, p. 55.) Bills of Lading. Uniform act recommended by the American Bar Association. Blue Sky Law. Idaho has a blue sky law governing corporations, unincorporated associations and partnerships, domestic or foreign, dealing in stocks, bonds, and other securities, excepting United tates bonds. State or municipal securities in Idaho, and Idaho real estate mortgages. This law requires the filing of various statements, accounts and other papers, and makes it unlawful to do business in the State without compliance. (Compiled Statutes 1919, secs. 53055324, Laws 1921, pp. 29, 297, 375.) Collaterals. No statutory regulation. Community Property. All property acquired after marriage other than by gift, bequest, devise, or descent, is community property. The personal earnings of the wife and the income from her separate property are her separate property. Contracts. A written instrument is presumptive evidence of a consideration. Conveyances. Real estate is conveyed by instrument in w.riting, subscribed by the party or bi<; authorized agent in writing. The community property can be conveyed or incumbered only by husband and wife joining in the execution. During the continuance of the marriage the wife bas the management, control, and absolute power of disposition of her separate property, and may bargain, sell, and convey her real and personal property, and may enter into any contract with reference to the same, in the ame manner and to the same extent and with like effect as a married man may in relation to his real and personal property. Separate property of wife not liable for debts of her husband, wife is not liable as surety unless tbe obligation is for her benefit or benefit of her separate property. An instrument purporting to grant real property to take effect upon condition precedent, does not pass the estate upon the performance of the condition. uch instrument is merely an executory contract. (See Acknowledgments.) Corporations. Private corporations may be formed by three (3)  ~i  1tw~e gf~~-ns•s~~~ea:Jrg~:ag~:h~mfor:1~!~ b~: ~~~~un~~ r:~t1~: of incorporation, containing: 1. The name of the corporation. 2. The purpose for which it is formed. :3. The place where its principal business is to be transacted. 4. The term for which it is to exist (not exceeding fifty years). 5. Tne number of its directors or trustees, not exceeding fifteen, who must be tockholders of the corporation. 6. The amount of the capital i;tock and the number of shares into which it is dividect. 7. The amount actaully subscribed, and by whom. The articles may provide for the election of one-third of its direct.ors annually. Railroad, wagon road, telegraph and telephone corporation: mu t state also in their articles: 1. The kind of road, telegraph or telephone line intended to be constructed. 2. The estimated length of the road or line. 3. They may provide in their artir.les the number of directors which shall constitute a quorum for the transaction of business, the decision of the majority of such quorum to be a valid act. 4. Whether meelings of the hoard shall be hE1lcl within or without the ,:tate. 5. Whether . to,·khol(.]ers shall be individually liable for debts of corporation. Railroad coq1oratio11s must have subscribPd, before filing artic'les. $1,000 per mile: Wa.!(on road corporations, $300 per mile; telegraph corporations, $100 per mile, and the articles mu. t be verified by affldavit of president, secretary, or treasurer named in article'>, that such "tock has been subscribed. All articles of incorporation must be filed in the office of the  county recorder, in which the principal place of business is located, and a copy thereof certified by the recorder, flied with the Secretary of State. All corporations, except insurance. non-productive mining companies, co-operative telephone and irrigation companies, must gay between July 1st and , eptember 1st of each year, a license fee  $~~1 ~nf!r1~~~~J~ ~~~~~itf~~:~e~~~~• l~rtn~fJt:tp!~~l~~ of SlO, and a failure to malrn payment by November 30th entails a loss of charter for domestic corporations and a loss of the right to do business within the State for foreign corporations. Between July 1st and September 1st, all corporations must make an annual report, and a failure to do so takes away such exemptions as are mentioned above. Corporation, Foreign. Foreign corporations desiring to do business in this State, may have all the rights and privileges of like domAF:tic corporations, by filing with the secretary of State, and In the office of the county recorder of the county wbere the principal place of business of such corporation is to be conducted, a copy of their articles of incorporation, and the designation of some person residing in the county in which such principal plare of business is to be located upon whom process issued hy aut-hority of or under any law of this State may be served. De ignation of agent must be filed with Clerk of District Court instead of County Recorder. Courts. Terms and Jurisdiction. The judge of the district court of each of the judicial districts of the State must annually fix the time for holding the district court in the several count.lei" of his district; and he may hold such special term"> as he deemc; proper and necessary. District courts have original jurisdiction in all civil cases. Probate court<; are held in each county continuousl:i,, and have jurisdiction up to $500, in civil cases and concurrent jurisdiction with justice's courts in all criminal cases. Justices' jurisdiction, $300. Curtesy does not exist. Days of Grace abolished by statute. Depositions may he taken before any judge, justice of the peace, notary public, or United tates commissioner, or any other person agreed upon by the parties, upon notice served upon the opposite party, stating the court, action, timA, and place, and before whom the same will be taken, or they may be taken upon commission issued by the judge with interrogatories attached. Devolution of Property. (See Succession.) Dower does not exist. (See Curtesy and Community property). Employers and Employes. All persons employing mechanics or laborers in working mines, erecting or repairing buildings, con.<:tructing canals, railroads, etc., must make, record, and publish a statement, under oath, setting forth the following: The name of the owner of the premises where work is being done or upon which it is 0 0 ~t~~d!iJ c~~f~;l~~~; !~;:g~: gf ~h;rEe~p onn °;"u~imgr~~i;e~~a1t~ conditions under which such person or corporation is prosecuting the work as agent, owner, etc .. the principal office or the owner and the agent in this tate; the time and place where payment of la.borers and mechanics will be made. A copy of the statement must be posted at the place where work is prosecuted. Employer's Liability Law. Provides for damages not to exceed $5,000 for injuries to employe caused by employer's negligence. (See Workmen's Compensation Act). Executions issue at any time within five years after Judgment. The only stay is by appeal, with secured bond. One year allowed for redemption from execution and foreclosure sale. Exemptions. Homt>Stead, not exceeding $5,000, if declaration of homestead is duly acknowledged and recorded: office furniture and library, $200; nece~ ary household and kitchen furniture not exceeding in value 300, and provisions for family for six months; certain farm animals, etc., with food for six months; and water right of 160 inches, when actually used in irrigation; al'lo crop" growing or grown on fifty acres of land, leased. owned or po essed by person cultivating the same; tools or implements of mechanic necessary for his trade of the value of 5500: all instruments of surgeons, etc., also all professional libraries; miner's dwelling of value 500, and hi pipes. cars, etc., of the value of S200; pack animals and equipments, not exceeding 250; team, wagon, etc., of drayman; < per cent of the personal earnings of a debtor within thirty days  ~r:tet~::~~::-~~~lct~/;~~Uiheu.teu?1~f;;:1~irc1  r::1~d~fs rt~~~ Association to the value of Sl,000; provided. such per·on has no homestead; all benefits ari ing out of life insurance, represented by an annual premium of $250; all property of fire companies. All the above property may be sold under foreclosure of mortgage, which includes same or execution issued on judgment for purchase price. Garnl hment. Any personal property or credits In the hands of another, belonging to the defendant, i. subject to garnishment, a.s are debts owing to him from another if due. Guaranty, Title and Trust Co. May furnl. b abstracts. act as surety, trustee,• fiscal agent. Paid up capital of 25,000 required. Capital deemed security for the performance of their duties. Holidays. January 1st. February 22nd, May 30th, June 15th, (Pioneer Day), Fourth of July, first Monday in September (Labor Day), October 12th, Thanksgiving Day, Christmas, undays and any day on which a general election is held. Hu band and Wife. All the property of the wife owned by her before marriage, and that acquired afterwards by gift, bequest, or de ·cent, or that which she shall acquire with the proceed-. of her separate property and her per onal earnings and the income from her separate property, . hall remain her ole and separate property, to the ame extent and with the same effect ~ the property of a husband similarly acquired. The wife has the management, control, and absolute power of disposition of her separate property, to the same extent and with llke effect ao;; a married man may have in relation to his real and personal property. The separate property of the wife i not liable for the debt,, of her bu ·l.Jand, but i · Iial.Jle for her own debts contracted hefore or after marriage. Tbere is no estate hy courtesy or in dower. • larriage ·ettlements are provided for. and when ihoperly executed and recorded may vary the statute 0 ~i~b~~infrino'i-s r~!~ ~e~teh~~~fJ1~!~r1ag~i~eet property In tne t. Where there is no express contract in writing fixing a definite rate of intere 't, the rate i · 7 per cent per annum. Parties may agree in writing for interest at a rate not to exceed 10 per cent per annum. Judgments bear lntero-t at the rate of, per cent per annum, compound interest allowed. Judgments are liens on all real e.·tate or debtor within the county. from time of docketing, and may be extended to other counties bY filing transcript in recorder':s o!lice. Lien cont lnues five years, Ju.·tice's court judgments become liens when cerWtled and recorded. 1 lay be revived by l:suing execution within limitation. I.lens, ::uechanlc '. Every person performing labor upon or f!-11'· nishing materials u ed in the construction or repair •of auy rnirung claim, building. or other improvement, has a lien thereon. Farm la.borers have lien upon the crop and product thereof, upon which they bestow labor. All liens must be se, forth by a statement in 1  i~~:~~ug  C 0  C  a  re ill Os  er  01'  a  es  "a  co to  it hn co1  • ow Wit ni, t,h  th ses ~  Cia  ~  are  Siu,  ~  cac  l>Ol' l"Cll  con  SUtJ  the 'J  at Yea  BANKING AND COMMERCIAL LAWS-ILLINOIS writing showing the amount, due. the facts connected with the matter, that there are no credit,s due on the claim, or o:fl'sets against the same· which statement must he verifled by the claimant, and recorded in the office of the county recorder, if on claim of original contractor. within ninety days, if on claim of other persons. within sixt.y days from the time of the completion of the structure the completion of the tahor, or the furnishing of the materials. Lien must he enforced by suit within six months, unless credit is given, expire a1, all events in two years. Lilnitation to Suits . Contracts not in writing and open accounts, four years· instruments in writing, five year.'; judgments and decrees, six years. ' Revivor: Only by instrument )n writing; part payment docs not. :\tarried \Vomen. All property. real or personal , a cquired before marriage and acquired after marriage, by gift. l>eque. t , dev ise. or descent, and her pe1-:,;onal earnings and the income from her separate property are the ,,ife 's separate property; all other property acquired after marriage , common property; "ife must record inventory of separate personal property. " o estate as tenant by courte. y allowed the husband nor dower to the wife. l\lines and l\lining. (Pt·incipal regulations under United States tatutes.) Quartz locations may be 1,500 feet long and 300 feet on each side of the middle of loclo. }.Ionuments must be established a.t all exterior angles of claim. Claim should be tied to some natural or permanent monument. Copy of location notice must be posted at di coven' within three days after discovery. ~ Tot ice of location must be recorded within ninety days after location; within sixty days ten-foot shaft must ho sunk or its equivalent. Location notice must contain name of locator, name of claim, date of disco\·ery, dimensions, distance from some permanent. natural, or artificial objeet,; name of mining district, county, and state. Placer loc-at.ions marle in same manner as quartz locat.ions. except that within fifteen day. after making location, locator must excavate not le.· than 100 cubic feet for purpose of prospecting claim, and must record notice of location within thirty days aft,er making location. J.\,[ortgages. A real estate mo!'tgage must be acknowledged and certified, and recorded in like manne.c as con--veyancos and deeds of real prope1·ty, and is foreclosed by action in the district court. Chattel Mortgages must be acknowledged as real estate mortgages and sworn to by tho mortgagor that the ame is made in good faith without any design to hinder. delay, or defraud credit,ors. ~ lust. be filed and a minute record made by recorder, unless mortgagee has Pos.·ession. Survives ru long as the debt. :\lortga2;es are di. charged hy a satisfaction duly executed and recorded, or I y entiT on margin of the record. witnessed hy rec-order. Tegotiablc Instruments. Negotiable in. trum nts are 1:mverned by the rules of the Uniform egotiable Instrum nt Law, as recommended by the American Bar Association. ( eo Laws 1903, p, 3 0.) Notaric , when requested, to demand acceptance and pa::rmenti of foreign, domestic, and inland bills of exchange or promissory notes ancl protest the same for non-acceptance and non-payment; exercise . uch othe1· powers and duties as by the law of nations and commercial u. age, or bY the laws of any other Territory,. tate, government, or country may he performed by notaries. ttach acknowledgments or proof of power of attorney; mortgage., deeds, grants, transfers, and other instruments of writing executed by any person. Give certificate of such proof or acknowledgment, to take depositions, aflida\it , and admi1Jister oaths and affirmations in all matters incident to duties of the office. To keep a record of all official acts; when requested, and upon payment of his fees therefore, to make ancl give a certifted copy of any record in his office; to provide and keep an official seal, on which must be engraved his name, the words " .. -otary Public," and the name of the county for which he i. commissioned. To authenticate with his oflicial seal all official acts. The commission is good throughout tho State. J>ower of Attorney. Powers of attorney fo.c grant· of real e-;tate and to execute a mol' must be in writing, subscribed, acknowledged or proved certHled and recorded as other instrument.<; affect,ing t·eal property. l'owors of attorney which have b en recorded ~ust he revoked by revocation in writing, a~knowledged, proved, certified, and recorded the same as origi1ml power. Probate La.w. Probate courts have jurLdiction to open and receive proof of "·ills and admit them to proof; Lo g-i:ant letter:l testamentary and guardianship and revolce same; app 111t appraisers of estates, compel executors. etc., to render accounts; order sale of property of estates and minors; order payment of debts due from estates, order and regulate di ·tribut ion of property _or estates: compel_ a1tendanre of ,vitne.<.! es and production of all mstruments pertammg to estates and pro 1 erty of minors, and make such o~der · as m~y be necessary to exercise all powers conf rred .. Proc_eec,lmg of .this co_urt_ ~re construed the same as courts of general Jur1 d1ct10n and hko fore e gn en to its records. Protest. ( ee otaries.) Uccords. All deeds, mortgage , real and chattel, and in. truments affecting the title to lands must be recorded. Inventory of the seJ_)arate personal estate of a married woman when recorded, IJe~omes Pl'lma facie evidence that the property therein ei umeratcd 1.· her ;;eparate property. In case of le,·y of attachrnen upon r al estate, a copy of the writ. with a copy of the notice of leyy attached thereto, must be filed in the omce of the count~· recorder. Ucdemption. Property may be redeemed within one year aft~r 8 !1,le, on payin~ purcha ·er amount paid 011 sale auc~ 10 per ("ent. add1tu_m~l. Property may be rc,Ieeme<l: hy succ •:-·1~· redc1_npt10ners W1thm sixty clays from last rcdcmpt10n, and wit lll one ~ ear from sale, by paying an adtlil ional l per cent. In case· of ta.· . ales, the owner may redeem in three J·cars Replcvin. Action of, must be brou~ht within.three ;.vea1: fro~ ti!Ile !t accrues. Plaiutill may sue for the poss~ss1on w1th~ut cla_mung 11nmediate possession, or ho may claim immed1a~e posscs--101~ a~ t1!De of commencing suit or aflenHu·cl. .Aflltlavit show1n~ t_ha.t plamt1!f 1s the myner, the detcnt.ion, the unlawfulness of ~he detent10~. etc .. and bond With sureties required to ol>l,ain immechate J?Oss~ss1011. Defo~dant may execut,e undertakin" "'ith approved. sureties, !or the ret entJ()n of the property and tlmt it' will be forthcoming, subJect lo t~e order of tho court in· \~hich the action is pending, and thereupon retam the possession of the pi·operty involved. . S:iles. Uniform sales Act recommended by American Bar Association. Se:Lls. The distinctions between sealed and unsealed instruments a_re abolished. Writt,en contracts presumpti\ e eYidcnee of c nsictcration. Succession to J>roJ)crtv. If decedent leave spow,e and one c• ild each entit.Ied to one-half of decedent's ~evarate propPrty, hoth r!•al ~ nd . I>ersonal: if more than one child, sm·v1vmq spou.~c gets one-th11'd and 1' ntainder in enual shar s to surviving children. In the 1·a•·e of com_11111nity property, the ·ur\"iving _spou:,E:: take., all th_e property Ul>Jer-t to t.he rig-ht oft stamontary dispos1t10n of one-hall thereof by the decedent. (See ·wms.) 'I'axe.. All property must be assessed with referenc to it.· Yalue at twelve o'clock noon on the second }.!onda}' of January of each Year at its full cash value, and the owner or other claimant of the  119 Federal Reserve Bank of St. Louis  1877  property shall have the same listed for taxation, and such taxes are a lien from and after that date. If taxes are not paid by the fourth Monday in December they become delinquent, but half of t,he ta:e,, may be paid before said date and the remaining half before the fourth Monday in June without delinquency. A penalty of 6 per cent is added on all delinquent taxes. Delinquency <"ertiflca,tes issued to the county for all delinquent taxes dated as of the second J\Ionday in January, bearing interest at 12 per cent, whic-h are assignable. For taxes levied for 1917 and subsequent, year. the owner must, redeem 1 0 ~\~sltf~se~~I~e~v,;!f!~ ~r~~e d;i~ehi~f ~f~'1\Wi~tt> Ii;gi~eio ~~~i~~c1~~ tax deed on record owner of land and person in posse.· ion at least three months and not more than five months before the expiration of three years, and on holders filing aflidaYit for record showing compliance. and after expiration of three years. he is entitled to tax deed conveying absolute title to the land.· . (( ompilcd Statutes l!Jl9, chapter 14 L ) Trust ompanies. (See Guaranty Companies.) \Varehouse Receipts. The Uniform Warehouse Receipts Act, recommended by the .i-unerican Bar Association. \\'ill . Every person ovei· the ag-e of ighteen years, and of sound mind, may make a will. E,·ery wiJl, other than a nwicupative will, must be in writing, and every will other than an olographic and a nuncupative will, must be executed by the testator subscribing thereto or some person by his direction, which must be done in the presence of two attesting witne ses, each of whom must sign his name and state that the testator reque ·ted him to witne. · the testator's signatw·e, and the testator must also declare in the presence of the witnesses that such is his last will and testament. One-half of community property may be disposed of by will to his, her or their children, but not to exceed one-fourth to a parenG 01· parents of either spouse. ·work1ncn's Com1lensation Act. See ( hapter 236 Compiled Statutes 1919, amended Laws 1921, p. 47-!,)  1  SYNOPSIS OF  THE LAWS OF ILLINOIS RELATING TO  BANKING AND COMMERCIAL USAGES PrPpan cl .ind HcYised by ".\Icssrs. :\I 1 ,-,c;n , E. 0PPE'>HEnr. - [ rK1-.1,, ~.R , · L1pp1.·, · 01T, Attorneys at La". Chica~o. ('-Ice ard in .\ttorne)·'s, List.) Acknowled~rncnts. Of deeds of real estate and other instruments, may be taken before the following omcer ·: \Vithin this State before a ma..,ter in chancery, notary public, nitod , tates commissioner, county clerk, ju-;tice of the peace, any court of record having- a seal or any judge, justice, or clerk thereof. 'Without, this State, and within the United States, its territories, dependencies. or the District of C'olumhia, before a justice of the peace. notary puhlic. master in chance1·y, nited F\tates comrnico ioner, commissioner to take acknowledgmei1ts of deeds, mayor of a city, clerk of a county, or before any judge, just ire, clerk or deputy clerk of the 1:mpreme, or district court of the l'nited States. or before any judge,, clerk or deputy clerk, prothonotary, surrogate, or rciistrar of the supreme, circuit, superior, district, counLy, common pleas, probate. orphans or surrogate court of any of the St.ates, 'Territories, or dependencies of the United States. In any dependency of the United States, such aclmowledgment or proof may also be taken or made before any commissioned officer in the military service of the 'Gnitecl Stat s. When such acknowledgment or proof is made hefore a notary public, United tates commissioner, or commLsioner of deeds, it must be cert,ified under his seal of office.• If taken before a mayor of a city, it must be certified under tho seal of the ri1y; if hoforo a clerk, de1mty cle1k, protht,nor ·1 ry, registrar. or surrogate, under tho seal of his court; if before a justice of tho peace or a master in chancery, there mu t be added a certitlcate of the proper clerk under the seal of hi office setting forth that such per. on was a justice of t,110 peace or ma ·ter in chancery at the time of taking such acknowled11;mo11t or proof. An acknowledgm nt or proof of execution may he made in conformity with the laws of the , tate, Territory, dependency, or district where it is made. Without the United tates, before any court of any republic, dominion, state, kingdom, empire, colony, territory, or dependency having a eal Federal Reserve Bank of St. Louis  1878  BANKING AND COMMERCIAL LAWS-ILLINOIS  or before any judge, justice. or clerk thereof, or before any mayor or chief officer of any city or town having a seal. or before a notary public or commissioner of deeds, or any amhassador, minister. or secret&.ry of legation, or consul of the United States, or vice-consul, deputy consul. commercial agent, or consular agent of the United State·. The acknowledgment of a conveyance by a married woman may be made and certified as if she were single. An acknowledgment taken by any one interested in the con \'eyance is void. Actions. Forms of action ancl pleadine:s are substantially as at common law except in ju tice courts and the municipal court of Chicago, wherein the practice has been much simplified. A non-resident is required to give a bond for costs. Administration or Decedents' Estates. Letters testamentary Issue to executor named in will, if he be a resident. If there be no will, or no executor named, or the executor is disqualified, or refuses to act, administration is granted to surviving husband, or wife, .next of kin. or some competent person. The surviving husband or wife, or the person nominated by him or her, has preference. If none of the above named applies within sixty days from death of decea'led, then administration is granted to the public administrator oft-he proper county. The administrator must be a resident of the :-:rate. A foreign executor or administrator, within the t:'nited States, may prosecute suits to enforce claims or to sell lands to pay debts. The Uniform Foreign Probate Act is in force in 11Jinois. The executor or administrator must file an inventory , itbin three months from the date of his appointment and mlL'>t fL"C upon a term of court, within six months from the time he qualifies. for the adjustment of claims, and publish notice thereof. The claimant should produce and flle his verified claim, which, if not objected to, may be allowed without further evidence. 1f objected to, the claim is srt down for trial. If the claim is not presented at the time fixed upon, it may afterwards, within one :rear, from the date of the issuance of letters of administration, be filed with the clerk, whereupon a summons issues against the executor or administrator, and the matter is beard at a sub~equent term. All claims not exhibited within one year from granting of administration are barred. Claims are classified a<; follows: 1. Funeral expenses and cost of administration. 2. ".idow's or children's award. 3. Expenses of last illness, other than physirian·s bill, and demands due household laborers or servants of deceased for lat.or. 4. Debts due common school or town ·hip fund'i. 5. Phy. i<'ian's bill for la t illness. 6. Trust funds. 7. All other debts. '!aims have priorit,y of payment in the above order. Atnd:n-its. Within this State oaths and affirmations may be administered by any judge, justice of the peace, master in chancery, clerk of a court, police magistrate, or notary public. in their respective jurisdicLions. Without the State the oath or afiirmation may be administered by any officer authorized by the laws of the particular State, and if such officer has a seal, his certificate under his ofllcial seal is received as prinie facie evidence of his authority. Aliens. The present law went into effect July 1, 1~97. It does not affect the rights of aliens as to personal property, who still take the same as citizens. Its provisions are subject to treaties made by the United States with foreign countries. All aliens, subject to certain restrictions mentioned in the act, may acquire and for a limitf.'d time hold real estate situated in this 'tate by deed, deviso. or descent, and may transfer devise or encumber it. Arrest and Bail. .. o person can be imprisoned for debt unless upon refusal to deliver up his estate for the benefit of his creditors in such manner as shall be prescribed by law, or in cases where there is a strong presumption of fraud. Assignments. The operation of the 1llinois Act relating t-o voluntary assignments for the benefit of creditors has been suspended by the national bankruptcy law. Attacb1nc11t,1. A creditor, resident or non-resident. who e claim is due. may bring attachment in a court of record if the amount exceeds 520, and in ju tice court for any amount not exceeding 200, on any of t,he following grounds: 1. ,vtere the debtor is a non-resident, of this 8tate. 2. \Vhere the debtor conceals himself, or stands in defiance of an ofiicer o that process can not be .·erved upon him. 3. Where the debtor bas departed from this Htate with the intention of ha·ving his effects remoYed from this tate. •1. Where the debtor is about to depart from this State with the intention of having his effects removed from this State. 5. Where the debtor is about to 1 0 ~~m~te1:I;" t£~ J;b~~r fi;~~ i~a~.~~/~J~ctfntt~~ i~i£~eg/\~~ affidavit required, fraudulently conveyed 01· assigned his effects. or a. part thereof, so as to binder or delay bis creditors. 7. Where the debtor bas wilhin two years prior to the filing of such affidavit framlulently concealed or disposed of bis vroperty . o as to hinder or delay his creditors. 8. '\\'here the debtor is about fraudulently to conceal, assign, or otherwise di'lpose of his property or effects so as to hinder or delay his creditors. 9. Where the debt sued for was fraudulently contracted 011 the part of the debtor, provided the statement.· of the debtor, his agents or attorney, which constitute the fraud, shall have been reducell to writing, and his signature attached thereto by himself, agent. or attorney. The creditor must give bond in double tho amoun.; of the claim. Real estate or personal property may he attached or funds p;arnished. The property or funds may be released by the ctebtor giving a forthcoming l>011d, or entering into a reeognizance in court to pay tho judgment. Banks and Banking. Under the state constitution stockholders have a double stock liability, and every bank mu ·t make, under oath, and publish each quarter a full and a<'curate tat.emcnt of its alfair ·. An Act to revise the law in relation to banks and banking was passed and approved June 23, l!)W, aud ratified by referendum at the election of November 2, 1920. Banks may be formed under the statute for the purpose of di<,count, and d<•posit, buying the selling exchange, and doing a general ba.oking busine. s, except tl,e b. uinp; of hills to circulate as money; may loan 011 both personal and rt'al estate secw·Hy. and may accept and e. ceute trusts. An a.s oda ion of persons, not less than three. may organize a bank by fllinf.?: a statement with the Auditor, giving the place of !Ju. ·inc.:,,, amount of caµital, name and duration, whereupon the Auditor i. · ·ue,- a permit to org, nizo. Tbe shares shall be $100 each. After the permit to organize i i uccl and the stock fully ub. cribed, the toddwlde1 meet, llx the numb 'r of directors and elect the director:; who shall manage the corporation for one year, or until their successor. arc elected. At the election of directors. stockholders have the right of curuulati\·e voting. The directors elect one of their number President. appoint the uece. ary ofllc-ers ancl cmploycs. fix their alaries and ma! e by-laws. had1 director shall file v.ith the ·tate Auditor an alt dadt tl1at !Je will faithfully perform the duties of bis o!llce in accordance 1'ith Jaw; that, he is the owner in his own right, of ten. bares or the stof'k of the bank, free from incurnbrance. Tbe directors must cause suitable books to be kept and tlle with the Auditor a lbt of stockholders ancl a copy of any other records the Auditor may requin,. l:nles another day i · fixed by the by-laws of the • ociation, tho stockholders ·hall meet the tirst l\londay in January and elect director::;. Yacan ies are filled by vote of two-third:: of the director... .Each director must own ten shares of the stock of the bank and tlle a certificate or certificates thereof with the Cashier, to be held during his terru as director. A quorum of the directors must meet once each month. Any olilcer. director or employe who shall make a false tatement to any oillcial authorized to examine the affairs of the bank, upon conviction shall  ~~ii!\~~  be punished by imprisonment of not I~·s than one or more than ten years. When the State Auditor is satisfied on examination that the bank has been duly organized and its stock fully paid, he issues a certificate that the bank is authorized to commence business, which certificate must be flied with the Recorder of Deeds of the county in which t!J.e bank is to carry on its business. The double liability of stockholders applies to all debts contracted while they hold stock in the bank and is not relea-;ed by an assignment of the stock. The President or Cashier must, within thirty days after organization fl.le with the Recorder of Deeds, a complete list of stockholders and their holdings and record thereafter a certificate of all transfers ,vithin ten days after such transfers. A statement of the resources and liabilities of the bank mlL'lt be flied with the State Auditor when required by him. The Auditor must call for such report at once each three months. This report must be published in a newspaper of the city or town where the bank is located. The State Auditor shall appoint a suitable per.-on, not connected with tbe bank, to make a thorough examination of the affairs of each bank once a year, and report the same to the Auditor. A bank may hold only such real estate as may be necessary for a banking house or such as may be acquired in tho collection of debts. Real ertate acquired for debts must be disposed of within flye years. The total liability for money borrowed of any person. corporation or firm (including the members of the firm) to any banking associat.ion shall at no time exceed 15 per cent of the capital and sw·plus (not including undivided profits) of such bank and shall in no event e.-ceed ao per cent of the capital stock actually paid in. Pro,·ided, however, that money borrowed within the meaning of the Act shall not include (1) the discount of bills of exchange drawn in good faith against actually existing values; (2) the discount of commercial or business paper actually owned by tbe person negotiating tho same; (3) the purchase of or loaning money iu exchange for, evidences of indebtedness which shall bo secured by mortgage or trust deed upon productive real estate, the value of which. exclw;ive of buildings, as ascertained by the oath of two disinterested appraisers, i double tho amount of the principal debt secured; and (4J the purchase of, or loaning money in e.·change for, evidences of indebtedne~ secured by a wl'iuen pledge covering live stock, the president, vice-pre, ident or ca.-;hier or such bank or association certifying at the time of ·uch purehase or loan that tbe -value of such live stock is doui.Jle tho principal debt secured; but in no event shall the liabilitie · of any . ucb per>,on, coFporation or firm to such ban.I;: exceed the amount of its capital stock. or 25 per cent of its depo ·its. Directors are made personally liable for any violations of thi. provision to the extent of tho loss occasioned thereby to the bank, its st.ockholders or any other party. • ro loan shall be made to the Pre,.,ident, \ ice-President or any empl oye or the bank Ulltil the loan shall have been approved by t,he Uoard or Directors. '1 be minimum amounts provided for the capital stock of banks are as follows: In cities, towns and villages that l!ave 1101, e:ceeiling five hundred inhabitants, 10,000; bot.wen five hundred and fifteen hundred, 15,000: between 11fteen hundred and five thousand, :!5,000; between five thousand and ten thousand, 50,00U; between ten thousand and fifty thousand, 100,000; tJcrncen tt•n thou at d ant lifty thousand .. 50.000. pruvi ed de~osi ,., hall not o. ·co •d :mo 000; over fifty thousand 100.000. Upon impairment of the eapital stock, the Auditor may require a se. ·sments of stockholder· or a reduction of the capital. If be shall deem the bank is being conduct,ed in an unsafe. fraudulent or illegal manner, be may fl.Id a bill for an injunction, di ·olution and rcech er, but such a bill can be maintained only in the name of the .Auditor. Upon defkieucy of asset , the coun ma:r require, in such :i suit, that the receiver proceed against the stockholders on their stock lia1Jility. There are provisions for consolidation, change of 11ame and voluntary dissolution. AU banking a ociations heretofore organizi:d by general or pecial Act, are made subject to all the provisions or tnis Act. After January 1. H.121, no natural per:.on or natural persons, firm or partnership shall transact the busine:s:s of bankiug or the business of receiving money upon deposit. or :hall use tho word "ilanK" or "Banher" in connection i u said btL-;mc.· ; pro, it1td, that nothing herein contained shall be constru ·d to JJrobioit ba11t,s in · rµurated under the law of 1, is ·tato or of the united tate. from appointing natwal persons as agents to receive deposit' of aviug:s in am! tnrough the pubtic schools. Any person viulating the ct b guilll of a misdemeanor and is subject to a tine not exceeding l ,OUO, or imprisonment in the penitentiary for one year. A banker is liable to Hne and iJ.nprisonruent if he recehes a deposit after Le lmow:s the bauk bas become insolvent and thereby the depositor suffers lo.s. One drnwing aud delh ering a check, draft, or order on a bank with intent to defraud, and knowing at the time that, he bad nut sullicient fw1ds in or credit with the bank to pay the c11eck, draft or order in full is guilty or a misdemeanor and is subject to a 11nc ot · 1,ouo or impri:sonment for oue year, or both. llills of Lading. '1 be niform Bills of Lading Law is in force in Illinoi ·. IUue Sky Law went into effect Juno 10, 1919, governing the sale ot stock:s of corporatiou.s. Securities are di\ idetl into four classes. Certain securities can L,o sold ouly after a lull tatemunt Ill regard tl1ereto ba:s been flied "ith the ~ccretary of tat• amJ a JJermit i:ssued 'J he law i-; :stringent. ' Copie:s of the law and forms for 1.1.-.e thc.i·euncter cau lie obtained by writiug to the ollice of the ocrelary of . tat~: pringfleld, Ill. 'l lte act is entiLled "1 he lllmo e~uritie Law. C hattcl l\lort •a •c • ~ 'o mortgage, trust dccrl, or other i;onve~ance or personal proµerty ha, in!:I" tl!e effect of a mortga u or lieu, 1s valid against third person:s, u11l · po..,,_-,es;:.ion b•3 deli,er •d to, a:nd remain \\lllt the gramce; or tho iu ·trume11t 1,rovidc;; for tuu po. sess!Ofl or the vroperly to remain witl1 the grautvr, and the inst1·u111011t tS ad,110\\leuged anti rei;ordcd. 'J. he in.-.trumcut rum t be acl no 1!edged, in countle:, havin • a po1,1ulation of le: than t, o h nc.1red t 1ou ·and, before a JlLs;tice uf tbu poa,·e, police magbtrat.o. a cler or ueputy clerk of a municipal court, , r county jud"e ot the ·ount,l, in w.t.111.: 1 tile morligagor re i< e.s; in counties bavlu, a population of 200,u O. or more. belore a ju tie oft 1e peace of the to\\n r precinct, or if there~'-: nalo jw ti ·c or tue _pea ·e, telure tho clerk or deput:i, cl r.K of the mu111c1p. court, in the dt:strict re the morL.,,a •or re i e . lf the mortgago_r i8 a nou-re iuent of u,c ate. Lho mongage rnay l)e ac llO\\ lecti;ou oelodre auy olJJcer authorized by la · to uu,.e ac1<n01\ledgmen of dee. s. .Attcr ackllO\ le mcnt the instrument mu,-t be tiled tor rucord v1th the re ·vrder or tlio county in \\ bicb the mortga •or reside ,, hen tll8 i11strument is o. ccuted, or. in c; e of a uon-r~c ent ol tl.le taw, t_ben iu the county 1, here the property b • ituated. '!'he mortga •e 1s a valiu lien tuitil t e m, tUritY of rho entire cbt or ot1li,,at1011, not e. cectlin • tJu•ce y •ar:, from i.ho ft!Jng of tho mortha •e, allll uiaY be reno,1 t'< for one .i, oar. note _ cured b.i, c mttcl mort •a'~ tnusli state 011 its fa ·e that 1t i o ecuro , otllen,J.S • u10 mort a..,o 1:s vol~mortgagt: may Ger I a, •u on tl.le mar Jiu oft.lie record. or IJY a rele3l?e deod. A mort •ag on a. Lock of ~ood.s permlttm mort.;agor to retai.d po. c sion ami ouy and :sell i void as to creditor,-. Cornmercil l l'a1>c1·. l~ce 1 ·e otiaule Instrument .) Uonditional , ate and like ugreemenL-., inclu< iw•. generallY, lease , re en ing title or lien in eller who part \\_ith po .. lon, 3 not ~a.lid in this 'tate a tu purcilas rs or part1 a· 1U1r111g 11 e while the property remains iu the po e, ion of tue vo.ndee or Iessee - d (.;011,.ii.'Dn1cnt ·. . gruomeut to sell on co11 ·i~1uuc11t are va11 • If a couunission merchant, or party ·elling- on comm! 1 11, convertS the property consi!{ued. or after demancl faib to ac ount. tor the proceed.·, lie is subject, to flue ancl impci:onruent, and Iiat,lu fo: double the value of the property o conve1·ted.  !:  amc  cast  flea the Pai on by the lzed Stat  st  terr n1 ex.c hold St of ti then heh F(  Pecu  sure1 befo1  Wgi  In tt not 1 Pora·  copy  sta.te the .t  had.  BANKING AND COMMERCIAL LAWS-ILLINOIS  re,  uo pal !' is  ore Lis, itb t.lle  en  Conveyances. (See Deeds.) Corporations. Corporations, except for charitable, educational, penal, and reformatory purposes, may be organized only under general laws. (Const. art. XI, 1.) In all elections of directors every stockholder has the ri~ht to vote, in person or by proxy, for the number of shares of stock owned by him, or may cumulate his votes. (Const. art. XI, 13.) A new act relating to corporations for profit, became in force July 1. 1919. Corporations may be created under tne act for any lawful purpose, except for banking, insurance, real estate , brokerage, the operation of railroads, or the business of loaning money; and may be organized also, for any one of the following purposes: ( 1) ' ' building corporations," for acquiring, owning, erecting, leasing, or operating only one building and the site therefor of not more than 80,000 square feet of land; (2) ''agency and loan corporations," for the purpose of acting as agents for others in the purchase, sale, renting, and management of real estate and leasehold interests in the operation of an insurance agency business, in the negotiation of loans on real estate and leasehold interests, of lending money on bonds or notes secured by mortgages or trust deeds on real estate or leaseholds or on tlle mortgage bonds of industrial or railroad companies or of any public service corporation or on any State, municipal, or quasi-municipal bonds, or for the purpose of buying, selling. pledging, mortgaging, or otherwise dealing in any of such securities; (3) "real estate improvement coeporatiom1," for the purpose of owning land, erecting residences thereon, and selling or lea' such land or residence , which land so owned shall be situated only in the county in which the corPoration 's principal office is located. Corporations under the act have the following rights, powers, and Privileges: (1) succession; (2) to sue and be sued in its corporate name; (3) common seal; (4) capital stock, with or without a par value, and divided into classes (under a ruling of the Secretary of State any class of stockholders by a provision in the certificate of incorporation may be deprived of the right to vote); (5) to acquire, and to own, Possess, and enjoy so much real and personal property a,; may be necess.ry for the transaction of the business of such corporation, and to lease, mortgage, pledge, sell, convey, or transfe!' the i;arue; (6) to ~wn, purchase, or otherwise acquire, whether in exchange for the issuance of its own stock, bonds, or other obligation or otherwise, and to hold, vote, pledge, or dispose of the stock.<:, bon<ls, and other evidences of indebtedness of any corporation. domestic or foreign; (7) to borrow money at such rate of interest as the corporation may determine without regard to or restrictions unuf'r any usury law of this State and to mo!'tgage or plfldge its property, both real and personal, to secure the payment thereof: (8) to elect officers, appoint agents. define their duties and rtx their compensations; (9) to lease, ex~ihange, or sell all of the corporate assets with the consent of twothirds of all of the outstanding capital stock of the corporat10n at any annual meeting or any special meeting called for that purpose; (10) to make by-laws not inconsistent with the laws of this State for the administration of the business and interests of such corporation: (11) to conduct business in this State. other States. the District of Oo~urnbia, the Territories, possessions, and dependencies of the U n1tecl States and in foreign countries, and to have one or more otnces out of this State, and to hold, purchase, mortgage, and convey real and personal property outside of this State necessary and requisite to carry out the object of the corporation: (12) in time of war to transact any lawful business in aid of the United States in the prosecution of war to make donations to associations and organizations aiding in war 'activities, and to loan money to the tate or Federal Government for war purposes; (13) to cease doing business and to surrender its charter; (14.) to have and exercise all the pow~rs necessary and convenient to cart·y into effect the purpose for which . such corporation is fot•med. The right of a corporation to hold the stocks of other corporat10ns is restricted to cases where the effect thereof shall not be in restraint of tra;de, to lessen competition, nor 1:0 create ~ monopoly. No ~orporation, except as specifically provided herem, shall be orp;amzed Under this act for the purpose of acquiring or <?wning real e;o;;tate. ~o Corporation under the act shall, except as provided. by any i!Dplicat1rm or 1:onstruction, be deemed to possess the power. of carrymg on the busm~ss of discounting hills, notes, or ot!Jer evidene:es of debt,. or r<:ceivmg deposits of money, or foreign coms, or bul:rng and sellmg bills of exchange, or issuing bills, notes, or other endences of debt for circulation as money; but corporations created, ~r to be .created Undei: the provisions of the art, to buy, sell, or otherwise deal m notes (~o~ mclucling the discounting of notes), open accounts, and other snnilar evirlences of debt (not including biJls of excban~e), shall not be considered within this prohibition . . No corp~rat10n sha!l be created under this act to deal in commercial paper m the exercise of the functions of bank discount. 'I'he board of directors must consist of at least three persons. wb_o Shall be stockholders and one of whom must be a resident of ~his State. Tho directors oxet·cise the corporate powers of the corporation. 'rhey rnay hold meetings and transact business outside of this St11:te. They elect omcers adopt by-laws and may appomt an executive comrnittee. The name of a corporation must indica1<; tl:at it is _a If the name of a person or copartnersl11p 1s used. 1t corporation "incorpor~ted:" ~ 1 1:tst_ be followed by the word "corporation.'_' limited," or their abbreviations. The corporation must mamtam an olli~·e or pla<'e of business in this State, with a reside1_1t officer or agent in charge. The secretary of State must be_ kept mforrned of any change of address of such office or place Qf busmess. share of stock when i.·sued shall have stamped ther~on tJ:ie amount actually received by the corporatiou fo_r - uch st.ocl~,. either 1~ cash, property, ::;e1·vices rendered, or expenses m,·m-red. l~ach certificate must contain a statement of rights of the hold~r, whether thE? stock has been fully paid, and if not what per cont of 1t ~as been Paid. ·when additional payments are made they mu.·t be stamped on the certificate. Shares without par value :shall be repre ·ented by certiflcates which shall st,ate the number of shares,. th~ name of ~he holder and the total number of shares the corporat10u 1_s ~uthO\'I~ed. to issue. All stockholders· meetings must he held \~·1tl11n tins 8 tate. Directors are elected at the reg-ular annual rncetmg of the To stock can be voted which shall haYe tieen transstockholdot·s. ferre<_I on the books of the corporation within ten day:s ynor to S)JCh ll1eetmg. No proxy is good after eleven months from 1t · e e ·ui10n, except where the stock is pledged as security for a <lebt to the pe1son . holding the pro.·y. Sto<'kholders are liable to creditors. after exbau. t10n or the a<;sets or tho corporal ion. only to the amount _uupai<l_ on ~ho_ -.hares held hy them. An assignee of unpaid stock, with notwe, 1s !table a~ tl~oua;h he had been the original subscriber; but only t.he real owner 1 • liable. l<'oreign Corporatlom,1. Each foreign corporation organized for Pecuniary prollt (except. banking, insurance. buildi_ng a_nd loan, and surety companies), not now licensed to _do 1?usiness 111 th~s St:3:te,,sball before it transacts any business or mamtams an oflice m tWs ~tate, proc_ure_a certificate of authority therefor f:om ~be Secr~t.ary of S_tate. ~o iore1gn corporation shall enga~e OT'. contrnue man~• kind of h1;1•m1e~s in this State. th,~ transaction of which by dome.·tJ corporat1011s 1s not PermiUcd by the laws of this State. Eaeh licensed foreign corporation shall keep on file in the office of the ecretary of , tate a copy of its charter and all amendments thereto; and al.'o a verified shtaternent giving the location of its principal office in this State and t e name and address of an agent on whom service of process may be o foreign corporation doing business in this State without a had. Federal Reserve Bank of St. Louis  1879  license shall be permitted to maintain any suit at law or in equity in any of the courts in this State upon any demand, whether arising out of contract or tort; and all such corporations shall be liable by reason thereof to a penalty therefor of not less than $250 nor more than $1,000, to be recovered in any court of competent jurisdiction, in a civil action to be begun and prosecuted by the Attorney-General. Each corporation including railroads, domestic and foreign, other than homestead associations, building and loan associations, banks, religious corporations, insurance companies, and corporations not for pecuniary profit shall make a report in writing to the Secretary of State between February 1 and l'.'.Iarch 1 of each year for the calendar year ending December 31, preceding, on forms to be prescribed and furnished by the Secretary of State. Such report shall give the address of the corporation, officers and directors in this State by street and number; and also shall disclose such facts as necessary to enable the Secretary of State to asceetain the proportion of its capital stock represented by business transacted and tangible property located in this State and such other information as may be necessary or appropriate in order to assess the annual license fee or franchise tax. Fees and Taxes. To the Secretary of State on filing a cerWlcate of incorporation one-twentieth of 1 per cent upon the amount of authorized capital stock, but in no event less t.han $20. If the stock has no par value, for the purpose of fixing the fee the shares are con sidered as having a par value of $100 each. A like fee upon any subsequent increase. Upon the filing of a certificate of amendment additional fee of $20. A foreign corporation, other than an insurance company or building and loan company, upon o btaining a certificate to do business in Illinois pays the same fees upon the amount of its capital i;tock repeesented by business transacted and tangible property in Illinois as similar domestic corporations pay upon incorporation. If the stock of a. foreign corporation has no par value, for the purpose of fixing fees and taxes the shares are considered to have a par value of $100 each. .t\ domestic corporation or a foreign corporation  1~  0  1  i~!~~~i·et!~~ ~~~te~r! re~~i~~tiis~~/~~~~:1 C:e~~i~t.i:~~t~~~ of State an annual license fee or franchise tax amounting to 5 cents on each $100 of tile proport.ion of its authorized capital stock represented by business transacted and property located in this State, but in no event shall any such license fee or franchise tax be less than $10 for any one year. If it appears from the annual report that the corporation has no tangible property located in this State, and is transacting no business in this State, the following franchise tax must be paid annually: on capital stock of $50,000 or less, $10; between $50,000 and $200,000, $15; between $200,000 and $500,000. $20; between $500,000 and $1,000,000, $fi0; between $1,000,000 and $10,000,000, $200; over $10,000 ,000, $1,000; Rtoclc of no par value being considered to have a par value of $100 per share. The franchise tax is payable on July 1 for the succeeding t~velve n::ionths. _Tf a corporation fails to make an annual report withm the time reqmred. the Secretary of State assesses a franchise tax on the best available informalion, adding a penalty of 10 per cent on the amount of such assessment. In case a corporation fails to file an annual report or pay its franchise tax as required by tlrn act, the Att,orney-General may take proceedings to forfeit its charter. No. corporation reQuired to pay a franchise tax or fee under the laws of tlus State shall transact maintain any a_ction at law o_r suit in any busine:,;s in this State equity, unless such corporation shall have paid such franchise ta~ or such fees when the same become due and payable. Corporat10ns are taxed on their tangible property, real and personal, within the State, and also upon the fair cash value of their capital. stock,_including franchii;es, over and above the assessed value of their tangible property. Shares of stock of domestic corporations, whose ta_ngible property or capital stock is taxed, are not subject to taxation m the hands of owners. A corporation organized for the purpose of accepting and executing trusts may be appointed assignee or trustee by deed, and executor, guardian, or by will, and any court may appoint such c_ompany receiver, assignee, guardian, conservator, executor, admmistrator or other trustee, provided such appointment apply to the estate' only and not to the person. Such corporation is ~o~ gener!'tllY required to give bond for the performance of a trust. but it 1s reqmred to deposit with the Auditor of Public Accounts $200,000 in bonds of the llnited States, or in municipal bonds of this Stat.e_. or real es~ate mortgages and to make a statement, and file reports with the Auditor annually. ' Tbere are special acts also .a.~ to the orga!11zation of corporations not for pecuniary profit, religious. corporat10ns, loan associations, co-operative associ~tions for prory.t, ins~ra~ce, etc. CorporaLions, foreign or domestic, under certam restnct10ns, may do a surety business. Courts. Supreme court (seven j!J.dges); four 3:ppe~late cour~ (intermediate colU't of appeals, three Judges each); circmt courts (m Cook County also superior court of equal jurisdiction); criminal courts; count,y courts (which also exer<·ise prob3:te juris~ict,ion. in counties having less than 70,000); probate courts (lll counties havmg over 70,000); municipal courts (Chica~o has a municipal court with a chief justice and thirty assaciate judges and special practice); and jw,;tice courts. Jla.ys of Grace are abolished. (See Negotiable Instruments.) Deeds conveying land should be signed, sealed, and acknowledged by grantor. Scrawl seal is su!Iicient. No subsc~ibing_ witnesses are required. Statutory forms of warranty and qu1t claun deeds and mortgages are provided. The words employed are (ll conveys and warmnts, (2) conveys and quit claims, (:3J mortqages an_d warrants. No deed releases the right of homestead unless 1t coota111s a clause substantially aH follows: "Hereby releasing and waiving all rights under and bv virtue of the homestead exempt.ion laws of the Rtate or Illinois." ln which case the certiflcat.e of acknowledgment, should contain the dause, "including the relea'rn and waiver of tbe ri~bt of homest.ead." To release dower the htL<;band or wife must join ln the conveyance. except in the case of a mortg-age for purchase money; othen,ise the hni-hand and wife may convey as unmarried. Deeds and other instrument:,; affecting real,e should be recorded in the county where tho real e:,;tate is situated: until so recorded they are void as to creditors and subsequent purehasers without notice. Depositions. In chancery ca-,es if the witness resides in the county, depositions may be taken on fl ·e days' notice; otherwise on ten days' notice and one clay in addition for every fifty miles. At la\\, on like t-en days' notice, ,vhere the wi ness resides in another county or is about to depart from the state. ,vhere the witness resirles out of the c·ounty or state, the deposition may be ta.ken before a notary public or commissioner on a commission is,;ued on ten days• notice·, either on written or oral interrog-atories; one day additional notice of the time and place of taking the deposition being required for each one hnnllred mile . If a wit.ness subpoenaed to give his deposition before a notary public or other officer under cornmi:slon issueLi by a court of this State. or of any other State or country, declines to appear or testify he may be cited before the circuit court of the county where he reside. and be compelled to appear, testify, and produce documents. Des<·ent and nistribution. Property in this State, real and personal, of residents or non-residents dying intestate, descends and is distributed as follows: 1. To the children and their d~cendants equally, the descendants of a deceased child or grandchild taking the share of their parents in equal parts. 2. When there is no child nor descendant of a child, and no widow or surviving husband, then  or  1 Federal Reserve Bank of St. Louis  1880  BANKING AND COMMERCIAL LAWS-ILLINOIS  to th~ parents, brothers, _an~ '.'isters an_d their descendants equally, action of their clients, after the service of notice upon the adverse allowmg to. t,he parents, 1f hvmg, a child's part, or the survivor a party. Cont_ractors and sub-contractors, including architects, :superdoubl_e portion; anc~ if there is no parent living, then to the brot,hers mten~ents. _tnnekeepers, etc., have liens on any real estate, interest and s1stlrs a.nd tbe1r descendants. 3. \Yhen tl1ere is a widow or surtherem. or 1mproveme_nt ther1:on, for all kind · of labor and services vh ing husband, and no child or descendant of a child, one half of perfornJed, and matcnals furmsbed for the erection of any building, the real estate and the whole of the personal estate goes to the widow or the improv~m~nt of an~ real estate, or thing connected therewith. or surviving_husbaud absolutely, and the other half of the 1·eal estate A person furmshing material, apparatus, fixtures, maclliner:v or labor desce_nd. as m other cases where there are no children or descendant to a contractor for a publir: improvement. has a lion upon tile money, of ch_1ldren. 4. \Yhen there is a widow or suniving bu band. and also b~nds or warrants due or to become due under such contract: Proa child or descendants of a child, the widow or surviYing husband vuled, the claimant erves upon the municipality a notice of his claim receives one-third of the personal estate ab olutely (see Dower and before payll'!ent be made to such contractor; but the lien attaches only Curtesy). 5. If there is no child or descendant of a child and no to the port10ns of the money. bonds, or warrant:, against which no parent, br?ther, or siste_r,_ or descendant of parent, brother, or sister: ;g~~~e~i;t~!~f~t'idence of indebtedness b~ been issued and deliYered and no ,udow or survivmg husband, the estate descends in equal parts to ~he next of kin in e_qual degree (computing by the Civil Law), Limitatio~s. In personal actions as follow : Libel and slander there bemg no representat10n among collaterals, except with descenone year; act10ns for damages for injury to persons, two years (where d~ts of IJrothers and sisters, and no di.·tinction being made between re. ults, one year after death); for false imprisonment, malicious death kindred of the whole and the half blood. CL In case of a \\idow or pr_o -~cut10n. for a. statutory penalty, for abduction, 'eduction, or survivi1_1g_ husband, and no kindred, the whole estate goes to the widow C(?nversat10n, two years; actions on unwritten contracts crunmal or survrvmg husband. ~xpress or implied, on award: of arbitration, to recover damages for ~ower. A surviving husband has dower (i. e., life interest. in a lDJury to property real or personal, to recover pos. e.·,-;ion of personal ~bird. part of a_ll lands _whereof deceased was seized of an e. tate of prop~r~y, or: damages for tJ?e detention of conversion thereof, and mhentance durmg marnage) the same as a widow. Equitable estates, all civil acti?US not otherwise provided for, five years; actions on and land contracted for before death, are subject to dower. Dower bonds, prorrus ory no~e , bills of exchange, wi-itten leases, written may_ b_e barred by jointure assented to; by devise, unle s widow or contracts, or other evidence of indebtedness in writing, ten years· surviving husband renounces benefit of devi. e within one year from bu~ any payme_nt or new promise to pay in writine: renews the right of date_ of letters of administra~ion; by d_ivorce a· to the party in act10n OJ?. ucb m. trume;nt_ for ten years from the time of such payment fault, ~nd by abandonment coupled with adultery. Tbere is no rf~~~i:n c:u~t°~r°r!~~l~~~f~~e~~its~ court Of record, twenty years; dower m land as against a purchase-money lien. The husband or ~e may ren'?unce any devise under the will of the other and take Pai:t~ership. There are statutory provisions as to the L~ted if there be children, dower and one-third of personal estate or if no ~~=-~~"ino~n\ii~~;~d partnerships, but such partnerships are not children, one-half of both real and personal estate absolutely'. ' Executions. (See Judgments and Executions.) ~tarried lVom.en . . A mar~ied woman may sue. be sued, or defend, as if she were unmar:rnd._ ,, hen the husband de erts, the wife may Executors and Administrators. (See Administration.) pro ecute or defend m bis name. The hu band has the ame right Exemptions. There is a homestead exemption to the extent of The husband is not liable for t e UJ?OI~ the desertion _of the wife. $1000. _ It may be extinguished by conveyance joined in by hu band :wife s torts_ exceT?t m ca ~s where he would be jointly re ponsible and wife properly_ acknowledged. ( ee Deeds.) The following if the marnage did not exist. The husband or wife is not liable for p~rsonal property 1s exempt: 1. The necessary wearing apparel the debt of the other incurred before marriage_ or for the separate Bibles, school books, and family pictures. 2. One hundred dollars debts of each after marriage, except that the husband and wife are worth of other property, to be selected by the debtor, and in addition, jointly_ and severally_ liable f9f the. expenses of the family and the when the debtor is the head of a family and resides with the same education of their children. Ihe '\\ife may contract as if unmarried $_300 worth of other l?roperty, to be selected by the debtor. Exemp~ except that she can not carry on a partner hip busine s without the t1ons can not be clauned out of partnership property. The wages consent of ~er husban9-. u~less he has abandoned her, or is insane, of a wage earner being the head of a family and residing with the or C?nfined m the pem~entiary. She may recei\ e and use her own same are exempt from garnishment to the amount of 15 per week. e~~wgs free from the mterfer~nce of tlle husband or bis creditors. writing: in be should contracts following The of. Frauds, Statute either the husband nor the wife can recover compen. ation for any I. A promise of an executor or administrator to an ·wer anv debt or !abor performed or seryices rendered for the other. 'be may own damages out of his own estate. 2. A promise to answer for ·the debt, her own right real and per onal property obtained by descent, i~ default, or miscarriage of another. 3. An agreement made in congift, or purchase, and manage, ·ell. and convey it to the ame extent sideration of marriage. 4. An agreement not to be performed within the husband can property belonging to him: but no transfer of that intere.,;t one year. 5. Any contract for the ale of lands, or any per,onal property between the husband and wife lh'ing together is therein for a longer term than one year. 6. Express trusts relating good as against third persons, unless ack,10wledged and recorded as to real e tate. "A contract to ell or a ale of any 1?ood or cho. es chattel mortgao-es are re<iuired to be. A married woman who without in action of the value of five hundred dollars or upwards is not enher fault lives apart from her husband may maintain an action for forcible by action, unle the buyer accepts part of t.hc; ~oods or choses reasonable support and maintenance. The wife may insure ber in action so contracted to be sold or sold, and actually receiyes the he may husband's life.. he m~y become urety for the husband. same, or gives something in earne t to bind the contract. or in part; ~x:jirw:. will, if over eighteen years of age, at which age be attains the of writing in payment, or unless some note or memorandum contract or sale be signed by the party to be charged or bis agent in Mortgages. Real estate mortgages should be executed and acthat behalf. T.he act applies to sales for future delivery and to goods knowled_ged the same ru deeds. The wife must join to bar dower, to be obtained or manufactured by the seller, but, not to sale of goods except m mortgages for purcha. ·c-money. Trust deeds are often to be manufactured on special order if they be not suitable for sale prefe~red to ~ortgage · becam,:e_ of the facility in the transfer of the to others in the usual course of bu ine s." security and, m ca 'e of non-resident creditors, in obtaining a release Garnishment. The funds or property of a debtor in the posses.,;ion the tru tee generally being a re:ident. Real estate mortgages may of a third party may be garnished in an attachment suit, or in a separate be releas d upon the record or hy relea e deed. ::\lort"ages and proceeding after judgment has been obtained against the pri11cipal tr~st_ deeds must be foreclosed by scire facias or by regular foreclosure debtor. (See Attachments.) smt m a ~ourt of chancery. In extreme case·. wh re the mortgaged Holiday , Legal. January 1st, February 12th, February 22d, property 1s clearly of fes value than the debt ecured and the mortgagor is insolvent, there may be a strict foreclo,ure which cut o:tr the May 30th. July 4th, October 12th, December 25tll, first l\Ionday in right of redemption, in "hich case the mortgagee take· the property September (Labor Day), Thanksghing Day, and Tue.days next after the first Mondays in November in even years (election days); al ·o in discharge of the debt. In other cams. after decree of foreclosure, the of!lcer designated to execute the decree delivers a c·ertillcate there every Saturday from 12 o'clock noon to 12 o'clock midnight. Where of to the creditor and files a copy thereof for record. The debtor ma.y holidays fall on Sunday, the day following. redeem within twel...-e months, or if no judinnent creditor redeems, Husband and Wife. (See l\Iarried 'Women.) ~hen within f}fteen months; at the end of which time the real estate lntere t. Extreme contract rate. 7 per cent; legal rate. 5 per cent. IS old ~o sat1Sfy the decree and costs, with six per cen~ interest. The !merest is allowed at the legal rate on money after they become duo holder m due cour:se of a note secured by a mortgage or trust deed on on any bond, bill, promissory note, or other instrument in writing; real estate in Illinoi stands in no better position, so far as the enforceon money loaned or advanced for the use of another; on money due ment of hi security L· concerned, than the payee or original holder; on the settlement of an account, from the date of ascertaining the but this doctrine doe· not apply to corporate bond. payable to bearer. withretained and another, of use the to recohed balance; on money e~otia1,le lnstru~·e~otiahle In..,trurnents. The ·· Tuirorm out t,he owner's knowledge; and on money withheld by an unreasonn cnts La\\" is in fort· in lllinoi.. a to all comnwreial paper <'.X(•cuted able and vexatious delay of payment. Judgment· or decrees draw J. 11 l'romis ·orY modification followiup; th· \\ith l!l07, 1. .July aftt•r interest at ;; per cent. Penalty for contracting for more than 7 per ·ot ·, Bonds, Due Bills, and other in trum •nt in "ritin". "herctJY cent is the loss of the entiro interest. and only the principal sum can of personal artil'i1· or •. mou of um any. pay to es. agr or promises one this in made, be recover d. A written contract. ·where\ er payable 1>ropcrty, or any sum of mom•y in per.·01L"tl prop rt), <)I' ackno\\leclges State between citizens of this State and of a foreign State (or secured a.nY stun of money or artic_le of per,·onal property to be ctue, are negoby a morwage on lands in this State) is controlled by the law of thi. tia.ble. Except a. to Pron11:sory .. ote.· payable in money due diligence tate as to the rate of intere.~t, and the penalty for usury. Usu1·y must be used by the holder ai?;ain. ·t the maker. if be be a r •ident must Le specially pleaded. But corporations cannot claim a forsolvent, hy suit at fi1•st t rm of ourt after matu1·ity. in order to and feiture of legal interest on account of usury. In all computations hold the endorser. 2. ccommodation paper ma.y IJe i:sued after of time, and of inter st and discounts, a month is considered to mean if such wa · the intention of the accommodnting party. maturity, a calendar month. and a year twelve calendar nont.b . and a day 3. The addition of word of a . hnm1ent or ~uaranty to a blank indor. ethe thirtieth 1rnrt of a month. A foreign corporation is subject, to not affect the .·ignature as an indor:-ement unless othen,ise does ment !::Hate. this of citizen a the same penalties for usury as expressly stated. -1. The defense,:, of fraud ant! <'ircumveniion in Judgments and 1:xecutions. A judgment is a lien on real the execution of ne::wtiable paper. or that the consideration arose estate ·ituated in the eounty where the jwl"ment is rendered, for out of a gambling transaction prohibited by . octions 130 131 and seven years from its date. If an execution is not i.·.·ued on a judgment 13G of our Criminal <. ode may be a.<. ·erted ru against a hoider in due within one year the judgment cea ·es to be a lien. A transcript of a cours . 5. The fact that a depositor make his not paYable at a judgment in anotl er county may he flied and thereupon become.· a bank does not authorize the bank to pay it ou of his rund, on deposit. lien upon real estate of tl,e def ndant in the county where filed, and U. An alteration of an in trument avoid· it c,nly , hen it is material or execution may issue thereunder. ., n e ec·ution hccomes a lien on fra1;1dulent, a_nd made by the hol~ci:. 7. A promi in writing to accept per onal property from the time it i · delivered to the ofllcer to be a bill made either before or after It 1s drawn is deemed an actual acceptexecuted. All goods and cl'lattels, including money and tock in a . ·ection a!1ce as to the l?er,,on rT C'eh·_ing the bill on the faith thereof. corporation, may be levied on. Per_-onal property may be .·old under 1.37 of t,\1e Umform i egouahle In. trumcut · Law. providing that the execution on ten days' notice. A forthcoming houd ma:v be gh en destruct10!) by the dra we of a bill of e. ·change left with bim for acceptby the defendant t,o the omcer. A third party elaiming the property ance, or lus refusal to return tne samo ,,ithin t,·cntv-four hour· after levied on may have a trial as to the right of property in the county delivery to him or within such further period a· ·the holder might court. Judgments may be confessed by a debtor 01· his authorized 1 rH~~i~.,~~t_ld be deemed an ac ·eptance of the bill, is omitted frorn tbe attorney without process in term time or , acaiion. Liens. A landlord ha a lien for rent upon crop growing on the nifor!D Li!!{e~r1r:~~"r::;Jph~\c~n~~~ry~ }:;~~n1~'4:Win!i;;~ and the demised premises. Hotel, inn. and boarding-house keepers have a lien upon baggage and other valuables of e;uests. Stable-keepers have Probate Law. (, ee .\dministration of Estate:·.) a lien upon horses, carriages, and harncs · for the keeping thereof. Re<·ording Act. . In countie having a population or less thall Garaae keepers are entitled to liens on automnbiles. part · and acc~·60,000, the clerk of the circuit eourt i. ox officio the r>cordcr. ID sories, for keeping, repairing, materials furni-;hed thereto, and the countie · a "record •r of de •d " i elected. As to nhat instruother expPnses bestowed thereon at the request of the owner. or the person ments must be 1·ecorded .. ee resp ctiYe titlc:s. having the possession thereof. Agisters and persons keeping-, yarding, T,!J.e action lie· for per onal property wrongfully deJ?:cple\in. and feeding domestic animals bani a lien therefor. All persons furnish~amed. rbe act1011 may be brought in any county wher the propertY ing supplies, or doing work for any railroad organized under the laws Before 1. , or wh r.e any of the d fendants re. idt:l or may he found. of this State, necessary for the construction, maintenance, operation, the execution of the writ, the plaintitr, or om one in his behalf, or repair of tho road, have a lien therefor on all the property of tbe roust give the officer a hond with sufficient ecurity (a real estate company, which is good as against mortgage and other liens acquired owner of the county is generally required) in double the value of tbe after the commencement of the delivery of supplie.. or the doing of property. the work. Attorneys have liens on all demands, claims, and causes of  gf  1  i  BANKING AND COMMERCIAL LAWS-INDIANA  1881  Sales. The Uniform ales Act has been adooted in Illinois. and if upon claim of non-resident creditor. within two years of the settlement of the estate. Sales ln Bulk. Sales of the major part or ~11 of a stock in trade, chattels or flxtw·es not in the ordinary course of busines , are frauduAffidavits may be taken before any omcer qualifie<l to take acknowledgments (see al)ove). Date of expiration of officer's commission lent and void as to directors unless the buyer obtains from the seller must be cert iflecl l>Y the oflwc>r himself. an affidavit giving a list of his creditors with addresses and amounts due each, and the buyer, five days before payment, gives notice to Aliens. Resident aliens w.11O have declared their intention to each creditor personally or by mail of the contemplated purchase. become citizens, may acquire, hold, and enjoy real estate. and may devise, mortgage, or otherwise encumber the same, in like convey, Taxes. Al_l real and persona:! property in this State, including manner and with the same effect as ciLizens of this State. Aliens, moneys, credits, bonds, stocks, mvestments, bare of stock in corwhether resident or not, may own real estate not exceeding 320 a<-Tes porati9ns (see Corporations), and of banks doing business in thi. tate. lands in excess of that amount they must convoy within five years or 1s subJect to taxation. Real and personal property is listed with the suffer escheat as to such exce . County Assessor and asses ed between April 1. t and June 1st as of Arrest for Debt. Defendant in a civil action may be arrested and ensuing the April 1st. The taxes are payable on or before ~ lay 1st of held to bail in the amount claimed, at any time before judgment, or year; after which time penalties arc added. There i. an Inheritance affidavit that he is about to leave the State, takinl? with him property TaX; Law, the rates varying accot·ding to the relationship of the heir, subject to execution, with intent to delay or defraud the plaintiff dev1s_ee, or legatee, a!1d the amo~nt of the legacie~, ranging from 1 per Bond is required of plaintiff. cent m the case_s of widow and children, as to legacies exceeding Sl0,000 Assignments and Insolvency. Any debtor may make a general and not exceedmg $50,000, to 15 per cent on large amounts bequeathed assignment of all property in trust for benefit of all bona creditors to persons not related to the deceased exceeding s.noo. trust is administered under the direction of the county court. This Warehouse Receipts. The Uniform Warehouse Receipt Law Dividends are allowed on all claims allowed by the trustee or court. is in force in Illinois. Debtor is not discharged from his liabilities. Wills. Every male over twenty-one, and female over eighteen Attach1nent may issue against the property of a non-resident or is competent to make a will. It must be signed by the testator or foreign corporation, and against any who may have disposed of, or be by some person in bis presence and by his direction, and attested in about to dispose of, property, to cheat, hinder or delay creditors, or his presence at his request by at least two witnesses. The witnesses again t a creditor who conceals himself so that summons can n0t be should be disinterested. A de;-ise to a witness is void unle s the will served upon him. An affidavit is 1·equircd, and a bond to pay dambe otherwise duly attested by two witnes. es exclw,iYe of such per on. ages if the proceedings be wrongful 01· oppressive. f'reditors who file ·where the subscribing witne. es are dead, secondary e, idence of the under the original attachment, before final judi:rmcnt-, are required execution is admissible. '.rhe will is proved, after notice 1,0 b irs and to furnish a like ailldavit and bond, and all share pro rata in the legatees, in the county (or probate) court, and may be contested, in , proceeds of the attached property. The wages of a resident housechancery, within one year after its probate. Will!· or authenticated holder. not exceeding one month at any one time. are exempt so long as copies, afl'ecting estate within this , tate, duly proved out:,;icle of this debtor remains in such employment. It is a misdemeanor to send State, in accordance with the law of the State where executed arcomclaims out of the State to be collected by attachment, or garnishment, panied with a certificate of the proper officer of that fact, 'may be when creditor. debtor, and person owing for earnings intended ta recorded here. Wills executed and publi" bed out of this State may be reached are all wHbin the jurisdiction of the court of this State. be admitted to probate in any county iu this State where the testator The collection of claims o sent may be enjoined. bad lands or personal property upon like proof a'> if executed and pub'Banks, Private. Act of 1907 (in eil'ect Dec. 1, 1907), regulating Ii hed here. whether or not the will ha! been first probated in another private banking applies to any one w.ho mav use t11e word "hank" state or county. The niform Foreign Probate Act is in force in bi business. Capital must be at least 10:000. not more than onein Illinois. All or.iginals wills, after being filed, must remain in the office third of which may be invested in the bank building. All real estate of the county (or probate) court. Children may be di;;inberited. must he held in name of bank. Bank cannot, in v~~st in real estate except in realizing on doubtful claim. Statement must be flied with state auditor showing copy of articles of partnership acknowledged (one of the partners to be resident of the state); location, amount of capital, net worth of partners to be double capital paid in, names of officers. List or omcers must be posted in hank. Two reports or re ources and liabilitic · are called for each year bv auditor and pubJi .hed in local newsnaper. Examination · of ba11k made at least annually by auditor. - tatement of property held in trust by bank must be flied in county recorder's office. Depositors have lien on asset. . Jurisdiction over all persons interested is obtained by process served on officer in charge. Banks can not commence business SYNOPSIS OF until chartered by State Charter Boa.rel. Banks cannot establish branches without first having obtained a cha:·ter from tho State Charter board. Banks, Savings. Governed by a general . tatute which regulates in minute detail the investments and conduct of business. Savings banks may purcba. e, bold. and convey real estate for the following purposes, and none other: For the location of banJ-ing house; real RELATING TO estate mortiraged to it in good faith for money loaned, 01· upon which it shall have purchased a mortgage; real estate taken upon judgments and decrees on behalf of the bank, or purchased to pl'event loss on claim held by the bank. BANKING AND COMMERCIAL USAGES Ba ks, State. H(•gutatecl by a general hanking la". The state depart nwnt of banking appomts a bauk examiner who shall not be a director or other officer of the bank, and shall have power to make Prepared and Revised by Mc srs. PICKENS, MooREs, DA\'IDSON a thorough examination into all the affairs of tho bank, and, i.J1 doing AND PICKENS, Attorneys at Law, Indianapolis. so, to examine any of the officers and agents thereof on oath. The ( ee Card in Attorneys' List.) examiner reports in detail the condition of the bank from time to time. 'rbe state banks must make not less than five reports each Acknowledgments. All conveyances of real estate, except leases year. verified hy the pre ident, or other managing agent, which for le.·s than three years. must be in "Titing, and acknowleclg d and reports mu t exhibit the resources and liabilities at tho close of bu">irecorded at once, or thoy will not bind third parti s. Wilhin the ness on any past day to be by the auditor specified. The report so State acknowledgments may be taken before a judge or clerk of a required must be published in a new ·paper where the bank is estahcourt of record, justice of the peace, auditor recorder. notary public, or, if there is no newspaper in the place, then in one publi.hed, member of the p;eneral assembly, or mayor of a city, and in other lished nearest t,hereto in the same county or an adjoining county. states and territories before the like officers, or a commi · ·ioner of The auditor may require special reports from any hank, whenever deeds for Indiana. In any foreign country, before a diplomatic or in bis judgment, it , hall be necessary in order to a full knowledge of consular officer of the United St.ates. If such acknowledgment or its condition. Any bank failing to make such report shall be subject Proof is in some other than the English language, or is 1_1ot attested to a penalty of $100 for each day that it delays to make and transmit by such olficial seal, it must be accompanied by the certificate of an the same. All banks are empowered to execute trusts and act as ?fflcer of the United States, to tho efl'ect that it is duly executed acrordtrustees. tng to the laws of such foreign country, and t,bat the officer has legal On eptembcr 30, 1920 all duties, power and authority formerly authority to certify to the proof or acknowledgment and the meaning vested in the auditor of State as to banks of all kinds buidling and :\Tifc must join in of his certificate if made in a foreign language. associations, morL~age guarantee rompanies, rural loan and saving loan deeds and mortgages of hu hand's lands in order to carry her inassociations, will bo lodged in a Banking commis.sioner appointed by 'o separate acknowlchoate one-third interest in husband's lands. and said Commissioner will be at the head of the DepartGovernor the interesti inchoate her convey to ~dgment of wife necPssary in order ment of Banking a separate branch of the 8tate Government. All 111 husband's lands although . he must acknowledge. The certifying laws relating to above named companies remain ill full force and efl'ect. officer _.hould state'the date when his commission expires. -o grace is allowed. Bills of Exchange and Promissory otes. Actions. Tbc distinctions between law and equity are aboli,.hecl. Damages for prote:t on bills upon any person at any plaee out of The statute provides but one form of action. Pleadi.J1p;· are governed this tate, but within the United States, 5 per cent on bills drawn by code. 1.: on-resident plaintills must give bond to .·ccure co ·t ·. upon any person at any place without the nited States, 10 per cent. Administration or Estates. Exe pt in ~Iarion County, which The Tniform. ·cgotiahle Instrument La11 his h1 en in force in Indiana ~n.,;;_ a separate probate court, the circuit court has exclu~he prob?te since IDI:3. (Hee ·egotiable Instrument.-.) JU1·1sdiction. In cases of intestacy letLer~ are _granted m followm,g Blu(' Sky Law ([Cnacted 1921). Whol'Y r offers or a(hcrtis s order. 1. Widow or widower. 2. Next of km. 3. Largc~t- resisecurities for sale must, fllo with the , ccrotar ., or 8latci his afildaYit dent creditor. Letters of administration shall b!:3 granted m the set t_ing forth: addresses of director.~. otncl'r s. all partners, and all county. 1. ,vhere intestate was inhabitant at time of death: 2. ag-ents proposing to sell it securities, aucl the 11atui-e ot' the interest here Wb~re, not, being inhabitant of the State he I~ayes a. ets. of ach. an 1_ntestate, not being an inhabitant, shall die out of _the State, The location of applicant' principal oflice and l)J'indpal ofliec in leavmg assets in seYeral counties, letter· may be granted m any one the state, general haracter of applicant's businl'ss. rlas,-es of property of the counLies in which such assets may be at time of death, and to h d 'alt in and the purpose of proposc1 l is ·ul'. \JI itemi:wd statethe administration first lawfully granted shall exten<:1 to all of the ment of the financial condition with balance shct t of a ·st't · and liabiliestate. Letters cannot issue t-o a married woman w1th?~t her _bu t-ie ·. plan of pro])oscd business, and approximate prke of seeurities b1!,nd's consent in writing. Such consent, makes husband Jomtly !table of sccui-ity itself, copy of publicity matter, stawrncnt of applicants copy d!')eedent a of_ utor exe foreign to given is Preference wife. With income and expenses and fixed chargi:s for past year. amount of com!1°t an inhabiLant of State, if, before letters are gra1Jted ill this tate mi ·sions to bo paid for sale of securities and how. detailed statement 1t appears that proper letters have been granted_ ill an9ther sta~e. of ca ·h. prnpcrty, Sl'n-ices, patents, and good "ill and any other conex_eept 1'1ere be rc.~ident, crcdit01·s. lcp;atoes and b~1r · en!1tled to di. id ration for whiC'h securities haYe he< n or are to b' bisued in paytr1bution who are inhabitants of the State. _ o action . hall be · ment, amount of promotion stock set apart. but decedent: the against claim any for estate an brought iip;ainst Cop_y of artidcs of partner:h~p or incorporation a11cl by-laws, copy t~e holder thereof, whether the claim be due or not, shall filo a sucof all mstruments of tl"ust. certified copy of cha1·tcr and authority to cmct and definite statement thereof in the office of ~he cl~rk of the do business in lncliana and in it,s own state. court, setting forth all credits to wblc!'t tbe es_tate 1s entitled, and Fon'ign investment companies must, file> writ.ten consC'nt to he suocl accompanied bv u10 alliclavits of the cla1mant, hts agent, or attorney, Indian~ f!)l' matters growing out oft ho v_iola( ion of the Blue Hky Law in_ a by d sccur t.hat the claim 'is just and wholly unpaid. Ir claim l?O ~?~t-~>rov1s10ns for scrnce and process on its agent or the Hecretary of h~n. _the lien shall be particularly set forth .. pie cla~m mus~ be filed w1th10_ one year from the of _the adnnmstrator. app~nntment, .\. slate scc·uritics commissioner is authorized to P\amine into tho or claimant must pay cost. ; and 1f not !lled at least, thirty day affairs of anr concern falling \\ithin the provisions of the law ancl before the final settlement of the estate, it -~all be barred, except suspen~ tl?e hC'C'nse to sell ::;c ·urilies upon a sho,, ing that the eertiflcate that heirs, clevis s and distribntees shall )Je lial~le to the. xtent of bo~cl ·r 1s 11.1solYC>nt. has YJOlat!'d. any provisions of th, law, has been the Property received bv them, to any unpaid creditor who six months gu11tr _of d1,-honesty or fraud, 1s i? bad business rcput , or in unsound Prior to the final settiement was insane, an infant,, or out of the cond1t1on. .\.gent .. must cc·m·c license from state. State,-suit to be brought within one year of removal of di ability,  THE LAWS OF INDIANA Federal Reserve Bank of St. Louis  ,v Federal Reserve Bank of St. Louis  1882  BANKING AND COMMERCIAL LAWS-INDIANA  The law extends to domestic as well a;, foreign investment companie;;, but exempts the following securities: municipal bouds, bonds suJ.,je ·t to regulation by the l'ublic Hen·ice Commission, bonds sold at judicial or probate sales, bonds and notes secun·cl by first mortgage on real estate "here the entire issue is sold at one time, securities of corp(>rations regulated by the U.S. Government, ·ecurities listed on respon, ihle stock e. change approved by the state, ecurities i. sued by corporations !'or benevolent purposes. and securities pledged to hanks. Tho ar.t clues not apply to disposal of securities to a corporation, to tbe con veyanee or real flstate, for disposal of one's own pro pert~-. for tbe owner's account, when made in the r·ou1·se of a single transaction by the mn1cr. to notes given in the ordinary course of business, for goods purchased, to commercial paper running le.·s than twel\•e months, unrler certain conditions, to di posal of proverties made by trustee pur~uant t.o law. to pledges in the ordinary course of husines.,, to the issuance of' securities under Lbe corporation laws of the state, in good faith, for the sole account, of tho issuer, without commission. at an expense of le ·s than one per cent of t c purchase, and where no part of tJie is,me is in payment of patents, en ice. goocl will. trademarks, lea es, c:op~•rights, proe .:s, formulae, or other intangible a.<;s • ·, or for property loc-ated outside tbe stato, to securities sold by Indiana corporations or by foreign corporations having seventy-flye per c-cnt of 1heir a.5scts within the state and authorized hcrure Au!sust 1, 1!)20. The act regulates ri~idly as to advertisements and publicity of such sales and imposes penalties. Chattel l\lortgages. Chattel mortgage on personal property left in the hands of the mortgagor with power to sell must stipulate that the money received by tbe sale be applied to the payment of the mortgage debt, and should be drawn in the form of an absolute hill of sale. mu. t be acknowledged in the ame manner as prescribed for the aclmowledgments of deed. and recorded within ten days from execution, and in the count.y where the mortgagor resides. An assignment of goods, by way of mortgage. where such goods are not delivered to the mortgagee, shall not be valid against any other per on than the parties thereto, unle ·s such mortgage shall be acknowlede:ed, and recorded within ten days after the execution thereof. )\'here delfrery of the chattels to the mortgae:ee occurs at the time. record is unnecessary. A morte:agee of household goods can not sell mortgaged property except under a judicial proceeding in the circuit or superior court. For certain restrictions on the lending of money on mortgage of household goods, see the statutes. Con,:eyances. All conveyances, mortgages or leases for more than three years shall be recorded and take priority according to time of filing as against good faith purchaser, le see or mortgagee. Lands in this State may be taken, held, conveyed, devised, or passed hy descent, hy or from any citizen of the United States; or by or from any alien (see Aliens), with some provided exceptions as to cle:-:cent · or devise. Lands which may have come by descent, or purchase to the wife of an alien. ma~· be held, conveyed, devi<;ed and passed by descent by and from her, notwithstandine; the fact of' her residence with her husband in a foreign state or country. Except bona-fide leases for a term not exceeding three years, conveyance of lands, or of any interest therein, must be by deed, subscribed, and acknowledged by the grantor or by his attorney in fact. The joint deed of a husband and wife is sufficient to pa ·s the lands or the wife. Except in cases of mortgages, conveyances in trust, conveyances to husband and wife, and cases of estates vested in executors or trustees, as such, and so held by them in joint t,enancy, all conveyances and devises of lands, or of any interest therein, made to two or more persons, shall be con trued to create estates in common, and not in joint tenancy, unless it shall be expressed therein that the grantees or devisees shall hold the same in joint tenancy and to the survivor of them, or it shall manife tly appear from tenor of instrument, that it was intended to create an estate in joint tenancy. A deed of release or quit-claim shall pass all the estate which the grantor could convey by a deed of bargain and sale. If it be the intention of the grantor to convey any lesser estate it mu. t be so expressed in the deed. Liability on lineal and collateral warranties is expressly abolished; a covenant or agreement of any person leav~ heirs and devisees answerable thereon only to the extent of property descended or devl 'ed to them. Any conveyance of land worded" A. B. conveys and warrants to C. D. (here describe the 1iremi'es) for the sum of (here insert the con. ideration)," or" A. 13. quit-claim· to C. D. (here describe the premises) for tbe sum of <here in ert the consideration),"-the same being dated, and duly signed and aclrnowledged by the grantor,-shall. in the one case, be a conveyance in fee simple to the grantee, his heirs and a.<.signs, with covenant from the grantor for himself and bis heirs and personal representatives that ho is lawfully seized of the premi~es, ha.,; good right to convey the same, and guarantees the quiet pos. ession thereof. that the same are free from all incumbrances, and that he will warrant and defend the title of the same against, all lawful claims; and shall, in the other case, be deemed to be a good and sufficient conveyance in quit-claim to the grantee, his heirs and assign·. Any mortgage of lands worded - " A. B. mortgage. and warrant to C. D. (here describe the premh·es) to secure the repayment or (lrnre recite the ·um for which the mortgage is granted or the note or other evidences of debt, or a description thereof, sought to be secured. also the date of the repayment "-the same being dated and duly signed and acknowledged by the grantor -is a sufficient mortgage to the grantee, his heir:s, assigns, executors and administrators, with warranty from the grantor and bis legal representatives of title perfect and unincumbered in the grantor. When a deed purports to convey absolutely any estate in lands, but is made, or intended to be made, defcasible by force of a deed of defeasanee, bond or other instrument for that purpose, the original conveyance shall not thereby be defeated or affected as against any person other than the maker of tbe defeasance, or hi heirs or clevu·ees. or persons having actual notice thereof, unless the lnstrumen of defeasance shall have been recorded, according to law, within ninety days after the date of said deed. Every conveyance or mortgage_ of lands, or of any interest therein, and e\·ery lease for more th, n three years, shall he deemed fraudulent and void as against any suboequent purch~·er, leasee or mortgagee in good faith and for a Yaluable consideration. unle ·-s rePorded in the recorder's ofllce of the county where such lands are situated. (See Acknowledgments, :Married Women.) Wben either the husband or wife is of unsound mincl the party with the sound mind can either join in the guardian's deed or make his separate deed and the effect would he the same as a joint deed of husband and wife both of whom are of ound mind. Corporations. Domestic Corporations. Corporations are created 1 ~~lci~ri~~~ ~fe°ciet;!u~tf~~tse:cret~s of stif!~ a~ ~i~a~:ci:d:ti~ ~'1ei! of the county, as provided by statute. The liability of tockbolder. varies according to the nature of the corporation in question and the law under which it was organized. In the corporation. which were in existence • ovember 1, 1851, and which accepted the terms of the act of March 6, 1883, stockholders are liable, in case of insolvency, for a sum at least eoual to amount of stock held at time the debt was contracted. In most corporations, stockholders who have paid for their stock are not liable for debts of the company. However, there is liability In some cases for labor and services of employcs. Shares of capital stock in a private corporation are subject to attachment. Annual reports must be flied In June with the Secretary or State. A new code regulating the incorporation of companies for profit has been enacted (1921) which supplants many existing statutes creative since corporations.  Foreign Corporations. Agents of foreign corporations, before entering upon the duties of their agency in this State. hall deposit in the clerk's office of the county, where they oropose doing business, the power of attorney, or appointment, under which they act. They shall also file a duly aut,henticated order, resolution or other sufficient authority of the board of directors authorizing citizens or residents of this State having a demand against such corporation arising out of any transaction in this tate with such agents to maintain a action in respect to the .·ame in any court of this State of competent jurisdiction, and authorizing service of process on such agent, and that such service shall authorize judgment and all other proceedings against such corporations. By act of 1913, foreign corporations must file with auditor of State certified copy of vote of directors consenting to accept service of summons on auditor of State as summons on corporation. If forci!O} corporation bas no agent within State, summons may be served on Auditor of State, wllo shall notify corporation. Contracts made by such agents shall not he enforced in any court of th! State until there has been a compliauee with the above provision'. Failure of a foreiITTl corporation to comply with the ·e provisions will not bar-but wilJ abate ·uch action. Any person who shall, directly or indirectly, receive or transmit money or property to or fo1· ·uch corporation. or make any contract, or transact any business for or on account of any such corporation. shall be deemed a~ent. This provision does not apply, however, to persons actine: a-; agents for a special or temporary purpo e or for ' purposes not within the ordinary busine s, nor doe. it apply to attorneys at law. 1 ny person acting as agent of a foroign corporation, who shall neglect or refuse to comply with the foregoing provisions, is liable to a fine in any sum not less than 50. In 1879 it was enacted that: Every foreign corporation now doing or transacting, or that shall hereafter do or transact, any busine ·s in this State. or acquire any rig-ht, title or intere ·t in or lion upon real e.·tate in State. that shall tran. ·fer or cause to be tran. ferr-ed from any , court of this State to any court of tbe United ta.te ·, save by reii:ular course of appeal after trial in the State courts, any action commenced by or ae:ainst such corporation in any court of this tate by or against any citizen or re:·ident thereof; or that shall commence in any court of tbe United . tates in this State, on any contract made in this  ~~ ~:~~~\ft ~'n~:ds~~f!eb~' I~~ra~~~\~!uai~~~btgi~~r!ita~Il right and authority to do or transact bu.'ine!·s in this State, or hold real property or liens thereon, and all contrar.ts between such corporations and citizens and residents of this . tate made after the passage of this act shall be rendered void, as in favor· of such corporations, but enforceable by such citizen at bis elertion. The provisions of the foregoing section are made conditions upon which such corporations may be authorized to do business, or hold titles to, or liens on, real estate In this State. Ily the act of 1901, foreign corporations are required to dcsi:rnate an agent In this ~tate upon whom legal process may be erve<}; to have an office where proper books of account may be kept. By act of 1907 foreign corporations desiring admission to state must make verified statement to Secretary of State showing: articles of incorporation, lmsiness intended to pursue, capital stock, proportion of its business carried on in this State, amount paid in on capital stock, and answers to other interrogatories propounded by the Secretary of tate, and . hall pay a fee of 25 on first 10,000 of a.< ·et.5 used in Indiana, 10 for each additional Sl0,000. Annual report must be flied in .January and fee of 51 paid. Foreign corporations may not hold real eslate except , such as may be necessary for proper carrying on of its legitimate business.  ~At!:n  Courts. Terms and Jurisdiction. The circuit court is tbe only court of original general civil jurisdiction in the State. It has full probate powers, except in Marion County, where there is a separate uperior courts have been e.·tablished in many probate court. counties. Justice's jurisdiction, 200. Party may confe.·s judgment before a justice of the peace for 300. 1\11en a written obligation for money binds more than one party the justice of the peace may issue process to con table of any county in the tate where party resides. 'I'he supreme court has no original juri~diction. It sits at Indianapolis. The appellate court bas final juri.·diction in many ca ·es. Days of Grace are no longer recognized. Depositions. Depositions may be taken anywhere in the United States without a commission, before any judge, justice of the peace notary public, mayor, or recorder of a city, clerk of a court, of record, or commissioner appointed by the court to take deposition·. Person taking depo:ition must not be of kin to either party or intere. ted in the action. When taken outside of the l'nited ~tate they hall be taken pur ·uant to ·an order of the court, under a com mi. ion, witb such reasonable notice of the time and place of tal,inJl the same as the court shall require, and they shall be certified and returned bY the commissioner in such manner as the court shall direct. ,. otlce 8  g~r\~e o~a~~ga~~~~eey,d:g~Jg~~gs~gf~~ee, !~e~~~t°~r t~:h,~~1~1~1 trial, the time and place of taking, and the names of t.he witnes es. Reasonable time shall be allowed for the attorney so ·erved to communicate with the client, and for traYel to the place of taking, exclud· ing tbe day of service, of the taking and intervening ..:undays. The dedponent shall be first. worn according to law. Ile 'hall then he examine by the party producing him, aud then hy the adver. ·e party, and then bY the officer, if he see catL e. The depo ·it ion. hall be written down by the officer, by the deponent, or by some disinterested person. in tbe presence and under the direction of the officer. and after the same bas been carefully read shall be ubscribed by deponent. The following factst shall be stated in a cert.illcatc to be annexed by the officer: 1. Tha the deponent was ·worn according to law. 2. Dy whom the depo-d sition wa written, and if written by deponent or some di. intereste person, that it was written in the presence and under the direction of the officer. 3. ·whether the adYerse party attended. 4. 'fhe time and place of taking, and the officer. hall sign and attest the cortiticat1?, and . eal tbe same, ff be have a seal of office. If he have no . cal, h1S certificate shall be authenticated by the certificate and seal of thhe clerk or prothonotary of any court of record of the county in whic certificate shall be authenticated by the certificate and ea! of tbbe clerk or protbonotary of any court or record of the county In which the officer exercises the duties of his office. The officer taking t e deposition shall . eal the same in a sufficient envelope and himselfh, post, or exprCJ , or deliver the . ame to tbe clerk, of the court in whlc the action is pending, endor ing on the envelope the name of tne parties and of the court and of the witnesses whose depositions ahre enclosed. Adjournments may be had from day to day after t e deposition has been begun, and for longer periods, upon written con· , sent of the parties, which written consent must be attached to tge deposition. Adjournments bould be noted at the place in t Ae deposition when tbey occur. A narrative fonn may be used. witness identifying a written in. trument should attach It to hlS depositio making It a part of his answer. Descent: The real and personal prop<:rty or any int0l tate. shall descend to his or her children equally; and po thumous children inherit equally with tho. e born before the death of the ancest0r·8 Children of deceased children take the share which would h&.V descended to the father or mother and grandchildren, and mor8 remote descendants, and other relath·6! , lineal and collateral, inberlt by the same rule, excepting that if the heirs are all grandchildr8 0  BANKING AND COMMERCIAL LAWS- INDIANA  or out of any contract relating to transportation, and for injuries to persons or property: also to employes of any corporation as against any of its corporate property or earnings for labor done; also to keepers of Jiyery stables and all persons engaged in feeding stock, for the food and care bestowed upon the same. also to blacksmiths; also to contractors, sub-contractors, mechanics, journeymen, laborers, and all persons performing labor or furni t ing material or machinery for erecting, laboring, repairing or rem) lug any house, mill, manufactory or other building, bridge, reservoir, system of water-works, or other structure, known as a mechanic's lien; also to bailees and trade.-.;men for their valid and reasonable charges in the construction, repair, or alteration of any article of value; also to the bailee or keeper of personal property for any feed or care bestowed by him upon such property; special lien for stora""e or repair of motor vehicles; also to forwarding and commission merchants on goods which may have remained in store for one year or more: also to all persons, firms and corporations engaged in the business of storing, warehousing and forwarding, goods remaining in possession of such person, firm or corporation for more than six months may be sold at public auction to pay amount of lien. Persons storing, furnishing supplies or repairing a m(\tor vehicle or garage owners have lien on motor vehicle which can be foreclosed within one year from failure of owner to pay charges. Judgments rendered in any county in the Rtate are a lien upon the real estate situated in such county for a period of ten years from the rendition thereof, and judgments rendered in the federal courts are a lien upon any real estat,e in the State for the same period, Provision is made by statute, however, for the filing in tile county where the real estate i · situated of a transcript of any judgment rendered in the United States courts. The office of the clerk of the circuit court in each county contains a public record known as the !is pendcns record, in which notice of the filing of complaints to enforce lien.<; are required to be recorded. and alro in cases wllere real m,1ate is seized by attachment or execution. Unle. so recorded the bringing suits does not operate as a constructi ·e notice. Lilnitations to Suits. Actions for injury to person and character, and for statutory penalty or forfeiLUre, two years; against public officers relating to their official duties, and on public improvement assessments, five years; open accounts and contracts not in writing, for use, rents and prnflts of real estate, injuries to and cletent.ion of property, recovery of personal property and relief against frauds, six years; upon promissory notes, bills of exchange and other writ,tcn cont,racts for payment of money, ten years; actions not limited by statute, fifteen year::;; other written contrac s, judgments of courts of record and real actions, twenty years. Revivor: part payment or new promi.~e in writi..t1g. Except in favor of suretic , the statute of limitations does not run a<Tain ·t, the State. l\larried ,11,·on1en control their real and personal property. The husband is liable for the wife's dehts contracted before marriage to the extent of the personal property he may recciye from her, and no further, and her lands are liable for such indeb1,edness. A married woman mav elm, ise her separate estate; may sell and transfer her. ·eparate personal property; carry on any busine . labor, or service, and receive the earnings accruing therefrom; enter into any cont.ract in regard to her separate personal est.ate business, labor, or service, and her separate estate, real and personal, be liable therefor, the same as a femme sole: and her husband is not liable for such debts, nor for indebtedness created by the wife for improvement of her separate real estate. She can make leases of real estate for terms of three vears or less and execute mortgages to secure purchase money, without husband' joining. She is bound by covenants of tit.le in conveyances of her separate real estate. Her deed conveying her real estate, he may sue as a femme her husband not joining, is ab ·olutely void. he is bound in solo for any damage to her person· or character. like manner as principal on ber official bond. Disability a to suretyship has heen abolished, therefore. in making loans to married women it is not necessary for her to make an affidavit that the money used is for her own benefit. She is entitled to hold as exempt from execu-  they inherit equally. "'here there are no heirs as aforesaid, onehalf of the estate goes to the father and mother as joint tenants, or to the survivor, and the other half to the brothers and . ister·, and to the descendants of such as are dead, as tenant in common. If there he neit,ber father nor mother, the brothers and sisters, and the other descendants, take the estate as tenants in common; or,  it: 1~n~bl;gJ1 ir:::::~r  ettl?i~tw~!~af1~ -~f ;nheur;b~Y!: ~~~J~~~t~r blood in property purcha.'led by the ancestor; otber,,i.·e, as to property acquired by gift, devise, or descent. lllegitirnate children inherit from the mother same as if they were legitimate, and vice versa. Tenancy by the curtesy and dower are abolished. and widows take one-third of the real estate in fee simple, unle · the property is worth over 10,000, in which ease, as against creditors, she take one-fourth only; and where the real estate is worth over 20,000, one-fifth only as a!!;ainst creditors, but as against other heir:s slle takes one-third in fee simple, regardless of value, except where there is but one child, in which case each inherits one-half. A second or subsequent wi.fe, however, takes only a life estate iu her bu band's lands, if there be a child or children by a previous marriage, and none by such widow. Other spedal provisions of the statute arc too extensive to set out. The estate of a person dying inte tate without kindred capable of inheriting will escheat to the State for the support of the common schools. Dower. (See :;\[arried Women.) E. ·ec•ution may issue at any time within ten year judgment and are returnable in 1 'O clays. From a court of record may i!!sue to any county in the State. Are a lien on personal property within the county from the time they are placed in hands of officer. The liens upon personal property attach in the order in which the hen levy is upon real estate the dates of omcer receh cs them. the judgment control the right to participate in the proceeds, and they mu ·t be applied according to their priority. Personal property taken in execution may be left with execution defendant by t,he giving to tbe oIDcer of a delivery bond with uflicient sul'ety; debtor may, by giving sufficient freehold surelies, have a ·tay of exe<'ution on an~" sum exceeding 100, for six months. "\'{here the sum is less than $100. the stay is not so long, varying with amount of judgment. Lands sold under execution may be redeemed "ithin one year by the ow11er, mortgagee or person having a lien thereon, thP. owner retaining posses•,ion during the redempt.ion year and being liable for reasouahle rents and profits in case of failure to redeem. Exemptions. Propert,y up to 600 is exempt in uitl on contract Where debtor is a resident householder. Resid nt hou eholder is entitled to exemption as well when in transit, with his family and Property as when permaneut,ly sett,led. The dP-btor must file a schedtle of all of his property, and select the property claimed, which is then appraised. Contract waiving exemption is void. Pension money in tran:it to pensioner is e.·empt, but when received by him and invested in other property is no more so than any other property. One month's wages also exempt if the debtor i still employed. Fraud. Assignments, in writing or otherwise, of any property made or suffered with intent to hinder, or defraud are Yoid as to the fi1~~l,defrauded. The question of fraudulent intent is a question  ·ted ace rd, erted hail itb  as  bY  uce  r:-.e 1 of  ses.  omuddened  bY  the  nee  een cts  bat  poted of  illlO  te, biS the icb the icb  the  elf, icb the are the onthe the  A  hiS  all  ren or. ave ore erit ren  Frau cf. -statute of. 'rhe following con tracts. if enforceable in court, must be in writing and signed by the party to be charged: 1. To charge an executor or administrator, upon any .·pecial promi e, to answer damages out of his own estate. 2. To charge any person, upo1_1 any special promise, to answer for the debt, default, or miscarnage of another. 3. To charge any person, upon an.· agreement or pro mi. e, made in consideration of marriage~ 4. Upon any contract for the sale of laud (except loan not exceeding the term of three years). 5. Upon any agreement not to be perform d ~ithin OJ?-e Year from the making thereof. 6. Sale of goods exceedmg $50 m value, unless part payment or part delivery be ruade. 7. Up'?n any repre. ent.ation made concerning the character, conduct, crecht, ability, trade or dealings of any other person. Garnishment. (See Attachment.) Garni. hment is a remedy in aid of aLt.achment.. Upon any per.·onal action arising out of contract any person may he summoned as a garnishe_e defendant upon an affidavit, that offidal has good reaso~ to. beheyo ~hat any perso_n named has properiy of the defendant m his po 'e . 1011 or under hlS control, or that he is inctehtcd to tbe defendant, or h~ control or age~cy of money, property, credits, or.eti;ects; that he lu~s any share or mterest in the stocl{ of anv associat10n or corporation. and all morwy •>r property in tl1e hand·· ol the garni. b4::e defendant is bound from the time the summons is served upon lnm. He !dent householder.· are entit.led to an exemption or GOO in garui ament proceeding., as in all other case.,;. Wages of non-residents, to the amount of ~25, and of resident householders to the extent of one month's ~ages, are exempt from excC'utiou so long as _the defendant, remains n the employ or the p;arnisbee. Indiana cl_a11ns can n?t l_el?a!IY be sent or taken out of the Siate for prosecution, and .·u1t.· mst1tuted elsewhere in violation of this prohibition may be enjoined and the o1Iender he criminally prosecuted. Holidays. (See Legal ITolidays.) Husband and Wife. (See Married Women.) Inheritance Tax. (. ee '!'axe .) Interest. The legal rate is O per cent, but interest ll}aY he taken o agreement to pay a higher rate 1s Yalid unlCS!· the In advance same be in· writing and in such case it is not Ia, ful to contract for more than 8 per cent. ·when a greater rate is contrar.t~d for .. the contrart i. yoicl as to all interest in exces of 6 per cent, 1 u ur1ous and illegal, and the e ·ccss may be recou~ed. b;r the d bt«:>r whenever it has been re.·ervecl or paid before the brwgm!s of tile sutt. Interest on judgments runs from the date of the verclic~ or finding, at the rate S))ecifled in the original contract, not exceedmg G per cent, and if no contract has been made 6 per cent is allowed. Judgment~ of courts of record are a lien upon all real e tate of defc•ndant within the county for ten years. Judgment may be Obtained at the first term of the court, after proce. s has b6<:n ~erv_ed on debtor ten days prior to the first day thereof. Judgment: m Justice court becomes a lien on real estate of judgm1;11t ~efendant from ~ime Of llling a transcript in ofilce of the clerk o~ c1r~utt court. A cert1_fled copy of any judgment rendered by the c1rcmt court of the mted States for district of Indiana may be filed with tile county clerk. Legal Holidays as to commercial paper are as follow : The first day of the week, commonly called Sunday; the 1st day of January; the 4th day of July; the 2:;th day of December; any day appointed by tho pre.'>ident or governor for public fasting or thanksgiving; 12th day or I~ebruary; 22d day of February; 30th day of :'.\I:-1Y: tlrst :'.\fonday of September; 12th day of October; and any election day; when any holiday (ot,het· than Sunday) comes on Sunday the ~londay next succeeding shall be the legal holiday; aturday afternoon is a legal half-holiday In t110 city of Indianapolis and may be made so by act of bankers in other cities of over 35,000 population. Liens. Liens are granted by statute to attorney·: to per ·ons holding claims against watercraft on account of upplie furnished or work done; also for demands for damages ari ing out of freight contracts, or for willfulness or negligence of the master, owner, or agent, Federal Reserve Bank of St. Louis  1883  ~f h~t~!~~~~S°i;~~b~ll~~: ~~~r~~i~~ $i~0~ee, !n'cti1~~ fl~~i1~~~=t~f1)l from all demands of creditors, where thee tate does not exceed SI0,000;  1  one-fourth, if under 20,000, and one-fifth, if above that amount. She also takes a child's interest in the personality where tbe number of children does not exceed two, and where there are more than two, her interest shall not be le. s than one-third of t,he whole of personalty after payment f debts, and in all cas takes .500 without a~counting, and may occupy the dwelling of forty acres of her husbands land for a year, rent free. But t,he one-third of he: real ~state which, the widow takes in feo, can not. upon her marrymg agam, be effectn'ely conveyed or mortgaged by her, if there be a child or children, or their des •endants, alive ·by the previous matTiage. Real estate which husband aud wife hold by title made to them as husband and wife, is held as an estate by entirety; it cannot be taken for the debt of either; is not, subject to the lien of a judgment against either, except in case of the death of either or upon divorce granted, when the estate is destroyed and becomes subject to levy and sale; and a mortgage thereof by them both for a debt of the husband has no legal validity. :\Jorti,:ai::e:. (See Conveyances.) ,. ·e~otiu h• Instru1nenb arc defined by hapter 63 of the Acts of rn1:1 \\hich is the mform ... Tegotiable Instrument Act. ~oction 1 pro, ines t11al an ins nunent t,> be negotiable must conform to the . following niquiremcnts: 1. It mu ·t be in writing and signed b:r tho maker or drawer. 2. ::'\lust contain an unconditional promise or order to pay a certain sum in mone)·. 3. Must be payable on demand, or at a fixed or determinable future time. 4. !-,Just be payable to order or to bearer. 5. \Vhere the in ·trument is addre.'>sed to a drawee, he mt1St be named or otherwise indicated therein with rea onable certainty. Its negotiability is not alfected by a provision which authorizes the sale of collateral securities in case the instrument is not paid at maturity, or authorizes a confession of judgment if the instrument be not paid at maturity, or waives the benefit of any law intended for the advantage of the oblie;or, or 1:1;ives the holder an election to require something to be done in lieu of the payment of money. To charge indorser notice of non-payment must be given to him at once, unless waived by him. Every negotiable instrument is payable at the time fixed therein without grJ1.ce. Where day of maturity falls on Sunday or a holiday, instrument is payable on next succeeding business day. Instruments payable on Saturdays are to bo pre.'lcnted for payment on next succeeding busine. day, except that demand instrument may be presented for payment before noon ~ aturday when thatentire day is not a holiday. In any case not provided for in the act the law merchant governs, and all laws in conflict are repealed. Act does not apply to negotiable instruments made and delivered before April, 1913. Power of Attorney must be executed and acknowledged, and (iJ for the conveyance of real estate, or to affect real estate) recorded, in the same manner that deeds are made. Probate Law. (See Administration of Estates.) Protest. The statutory damages on such protest are 5 per cent on the principal of a bill of exchange, if drawn or negotiated within this tate, upon any per on, at any place out of this State, but within the United 'tates, and 10 per cent if upon any person, at any place without the United States. Federal Reserve Bank of St. Louis  1884  BANKING AND COMMERCIAL LAWS-IOWA  Reple,in. ·when any personal property is wrongfully taken or unlawfully detained. or, if taken on execut-ion or attachment. i · claimed by a third party, the owner or claimant may bring an action for possession thereof. He may claim immediate delivery upon affidavit th refor, whereupon the neriU takes po.session of the properLy, and if delivery bond is given on behalf of the defendant within twenty-four hours. the property is retm·ned to him, otherwise the plaintiil' may give bond and take the property; failing to do so it is returned to tho defendant. The plaintiff has twenty-four hour· in which to file bond. Justice of the peace have jurisdiction in replevin suits involving property worth $200 or lo . Procedure is same before justice of the peace, except t-hat t-he plaintiff must file bond in all such cases. Heplovin may also be had without bond, by allowing defendant to retain possession of property pending suit. Suit·. ( ee Actions.) Taxes. State, county, town hip, municipal. school, and road taxes attach as a lien on real estate on )larch 1st of each year, and penal tie attach on first, Monday in .c\lay in the next year. One-half of all taxes may be paid without penalty, if paid before first :\Ionday of ... lay; other half. if paid before first )lonclay of • ~o..,-ember provided that all war taxes charged shall be included in the first in. tallment. ales of real estate for truces are held on the serond ::\Ionday of February, and all lands on which truces are delinquent for two years are oll'ered. Owner has two years in which to redeem, by paying the amount set forth in the certificate of purcha. e \\ith all subsequent taxes paid, and 10 t-o 25 per cent upon the whole sum, with legal interest from the date of purcha<;e or payment. Lands are sold for one year'. delinquency, but the following year's tax (not yet delinquen:,) is embraced in the amount of the sale. An inheritance tax, graduated in amount according to the amount involved, and the relation of the beneficiaries to the decedent, is levied upon all intangible or tangible proper of re ident decedent, and upon tangible proper of non-resident decedent. Tax applies as well to gifts made in anticipation of death, to t.ake effect at that time. Inheritance taxes do not apply to the transfer of the estate of any decedent leaving an estate of less than g25,ooo, dying or who has died while in the military or naval forces of the nited tates during the "·orld 1' 'ar or ,,ithin one year after the termination of the war. (Revi ·ion of the tax laws made by 1010 Legislature and for further information reference should be made to the Act 1919.) uncupative wills, whore property of more than the value Will . of 100 is bequeathed, are not valid, except as to the personal property and wages of oldiers and sailors in actual service. A nuncupa.tive will must be reduced to writing within flrteen days after it shall have been declared and proved by two competent witne. ses who shall have heard the testator request ,ome of tho e present to bear witness o will in writing is valid uni ss signed in the presence of thereto. two or more witnesses by the te tator. or by ·ome one for him in his pre. em·c. with his con ent, and attested and subscribed by two or more witnesses at his request, and in his presence and that of each other. ·wrn made before marriage become:s void on marriage.  SYNOPSIS OF  THE LAWS OF IOWA RELATL"G TO  BANKING AND COMMERCIAL USAGES Revised by B. J. c.~VA,•.-1.GH, Attorney at Law, Des :\Ioine'. ( ee Card in .Attorney·' List.) Account and Claim of. Statements of account, for use in court or for proof in the settlement of estate. of deceru·ed and rn guardianship matters. must be itemized and verified. A statement of "balance," or "goods," or "merchandise" is not sufficient. 11 instrument.,-; affecting real estate, inrludAcknowledgments. lng mortgage·, deeds of tru. t, powers of attorney relating thereto, and leases for more than ono year, mu. t be acknowlecle:od or the execution thereof proved. and the in truments mu ·t be recorde(l in the proper ofilce, as so to afrect third parties. 'l'bo .-ame i. also true as to hills of ale, absolute or conditional, and chattel mortgages relating to personal property. Articles of incorporation mu t also be acknowledged and recorded. Tho forms of acknowledgment and the officer . within and without the tate, before whom uch acknowledgments may be made are prescribed by statute. Action. . The common law forms of pleading are not w·ed, although the common law forms the basis of procedure. Pleadinp:, practice, and procedure are tatutory, and accord, in the main, \\ith what i · known a· the reformed, or code procedure. Administration of E ·tatt•s. "\Vhere an executor is not appointed by wrn, administration shall be granted: 1. To the spou e of th deceased. 2. To the next of kin. 3. To creditors. 4. To any other person whom the court may select. C'laims against the estate of a decearncl person are payable in the following order: 1. Debt entitled nit d , tates. 2. Public to a preference under the laws of tho rates and taxes. 3. <'laims filed "ithin six months after the llr.·t publication of the notice given by the e ·ecutors or arlminbtrators of their appointment. 4. All other debts. !i. Lee:aci · and distributive shares. All claims of the fourth of the above clw ses not filed and allo,ved, or if filed and notice thereof not served within twelve months from the giving of the noti<- of appointment are barred, except as to actions ag-ain.-t doc dent pending in the di trict or supreme court at the time of hi · death, or unle · · peculiar circum·tances entitle the claimant to equitable relief. Affidavit. . Affidavits may be taken before any person authorized to administer oath· in the tate where taken. If taken , ithout the tate of Iowa, the official character of the officer administerin~ the oath ,should be evidenced in the same way a.i; the ollicial character of an ollicor taking depositions. ( ee Depositions.) Affidavits may bo taken within the Htate for any la,,-ful purpo. o, of one unwillin~ to voluntarily make an a!Jiclavit, by Olin~ a petition with an officer autho~-  1  ized to administer oaths, who may cause the person to come before him and make allida,·it. This proceeding is statutory and must conform st1·ictly to the statutes of Iowa. .Affidavits for proving account and form: • tate of ............. . County of. . . . . . . . . . s, I .......... being first duly sworn, on oath depose and say that I am (a member of the firm of .......... and that said firm is) the owner of the account hereto attached, marked exhibit A, and made a part hereof, that the same is correct in all particulars and that the articles named therein were . old and delivered to said .......... at the prices and times ther in named and agreed upon, and that said articles were reasonably of the value charged, and that the aid ccount is due and unpaid. That there i no legal set ofl' or credit to he same or any part thereof e:rcept as herein stated. Subscribed and sworn to before me, by the said . ........ . this ... . day, etc. Aliens. J. on-resident aliens or corporations incorporated tmdor the laws of any foreign country or corporations organized in this country, one-half of the stock of which i, owned or controlled by nonre.·ident aliens are prohibited from acquiring title to or holding any real e tate in Iowa, but the non-resident aUen widow. heirs, or devisees of an alien or naturalized citizen may hold the .-ame for twenty years, and if not sold within that time, e cheat · to tho talc. .\liens may acquire property of any kind within a city or town or lan<ls not exceeding 320 acres or stock in any corporation for pecuniary profit and may alienate or devise the same. but this law does not affect personal property. A lien holder may acquire title to the property embraced in such lien but real estate so acquired must be sold within ten years after title is perfected in an alien, otherwise it will oscheat to the tate. Arrest. ... -o per on can be imprisoned for debt on either mesne or final proce.· . unless in case of fraud. Dehtor·. however, may be ordered to appear before a court of record wherein a jud"ment has been rendered, and if the debtor is about to leave the State, or conceal himself, he may be arre ted and compelled to give bond to appear before the court for examination, and in the meantime, not dispose of his property. (. ee upplementary Proceedings.) A signments and Insolvency. General aJ signments not valid unless for benefit of all creditor·, when a. ent of creditors is presumed. The debtor mu t annex to the instniment of a signment a sworn inventory and li t of creditori;; and sueh instrument must be aclrnowled~ed and all of the papers recorded like a deed of real estate. The assignment vest in the a signee title to all propert.y of the debtor. A· ignee must give bonds, prepare a verified inventory and valuation, and notify creditors by mail to fl.le claim.- within throe months. All claims not filed within three month.· after notire published or within uch extended time as the court grant·, not exceeding nine months, including claims not yet due. C'an not be paid until all clain1s fi)prf within said time are paid. An a;·;;ignment does not di. charge the debtor from bi· debt and liabilities. but only entitles creditors to share equally in his estate. All clain1s flied must be itemized and sworn to. Attachment . An attachment, auxiliary to the main case, may be sued out upon any one of twelve (12) statutory grounds for a debt, which is past due; or upon any one of four (4) statutory grounds for a debt on contract, not yet due. .\ bond must be flied for three times the a.mount claimed, if the action is founded upon contract, otherwise. in a sum to be fixed by the court. if the action I not founded upon contract. Garnishments may be effected under the writ of pecial attachments are permitted, to attach specific attachment. personal property, in a few pre cribed cases. Banks. The banks organized under the laws of Iowa are respectively designated as a.vings banlc and . tate banks. , aviug · banks mu t have a minimum capital of from 10,000 to $50,000, according to the population of the city or town in which each is located. Each share must be of the par value of 100. The ·tatutory provisions mus be consulted concerning the manner of organization. the i. uance of and payment for capital . tock, the board of directors, quonim, voting by proxy, limitation of deposits, and the inve. tment thereof, the loaning of funds, the cash reserve required, and the di.- ·o!ution of uch bank.. State bank. mu t have a minimum capital of from . 25,000 to 30,000. according to the population of the city or town in which each is located. Each share mu t be of the par value of 1oo. The .·tatutory provi. ions mu t be consulted for the particular above referred to on the ubject of savings banks. Banks and loan and trust companies may obtain power to act as executor, administrator, guardian, receiYer, a.·signce, trustee, or in ·auonal Banks may exercise the same other fiduciary capacity. powers when authorized by ~\ct of Cong-re s. .\n~• Iowa State or .'avings Bank or Trust Company may become a rucmher of the Federal Re ·erve bank s:n,tem. Bill-. of Exchange. The ne~otiable in,-,"trum nt law re<'ommcnded by the interstate commis. ion on uniformity of law has b •en ena(·ted and i. now la,, in Iowa. (For Grace, :ee Day· of Ura<'e.) .\. pro, ision for the payment of exchanc:e, in addition to th amount of pl'incipal ancl intere·t, doe· not render a bill of exchange non-negotiable. Bill"! of Lading. The uniform Bill of Lading law has been adopted in Iowa. Chattel :\lort~ai:e . . '"o .-ale or mortgage of personal proJ)ertY, where the vendor or mortgagor r tains actual po.·. e: sion. is Yalid against exi ting creditors or ·ubsequent pur baser.- witnout notice. unless a written instrum nt con,·eying .·ame, be execut rl acknowledged like conveyances of real e ·tate, and filed for record with the recorder of deeds of the county \\·here the bolder or the property reside:-. o encumbrance of personal property which may llo exempt from execution by the head of a family if a r ident of tho tate shall be of any validity uni · the ame be by written in ·trument and unJes,; the hu. band and wife concur in and ign the. joint instrument. Collateral ecurltie . There are pocial tatutory provi ions concernin" the pledging of corporate .-tock. a. . ecurity; a11d also upon the subject of ales of collat.eral.· by action in court and judicial ale. Otherwise the subject i · governed by the common law. 'o sale, contract, or lease wherein the Conditional ale"I. transfer of title or owner-hip of p rsonal propcrt)" is made to depend upon any condition, shall b ,·alid a"ainst any creditor or purchaser of the vendee or 1 · · in acwal po ~ .. ion, obtain d in pur.manco thereof, without notic . uni · the . ame be in \Hiting, exeeuted by th vendor or le. or, acknowledged and re..ord d the same as chattel morti-tage . Con,·eyances. No particular form is nee,· ·ary for conveyances or mortga~es. The name of tho parti s, the de cription or th' propertY , the con.-ideration, the date, signature, and acknowled11:nwnt, is al 1 that is nee• ary; as between the partie · they are valid without heinJ!' r c·ord d. Th "ife mu. join ,·ith h r hu hand in <·om·cyance.._d.. and a conveyance of th horn stead i.: of no ,·nliclity unle. · l,u:b3:u and wife concur in and .-kn th .-am joint in:strument. A corporation al, except when~ executes conveyances under its corporate uch com eyance mu. t be s1gne c-orporation ha· not adopted a ,'eal. in the name of the corporation by the oill ·ors authorized o to ct o, by the Art.icl · of Incorporation, or By-Law·, or by resolution du1Y entered of record in th minut s of the corporation. and duly acknowledged by such ofllcer.·. a. the ar.t of the corporation. i  i  tbs  BANKING AND COMMERCIAL LAWS- !OW A e  r  s  to ch he ve as in 18  or he ed ed on al ed  1\d  <'e, ed er e ·. ID  be ess  nt.  ns lso ial he  nd ser ce ed  as  ces  ~)i  ut, •es, nd iOil  the ed do, ulY wl-  Cori>orations. Private corporations, sole or a~gregatc, may he formed for any lawful purpose. But there are special statutory provisions which must be complied "ith for the organization and government of insurance, banking, loan and tru,;;t, building and loan , and railway corpora,t.ions. In all cases, the articles of incorporation must be acknowled!rnd ancl reeorded, in the manner provided by law. and approved hy the ' ecre tary of state. With a few exceptions, an incorporntion fee of . 2.'>, plus $10 for each thousand dollars of capital in excess of 10,000 must be paid, upon the organization or i·enewal of a private corporation. The general term of the life of a private corporation is twenty years, renewable for a like term. Railroads, savings banks, and a few others may last fifty years, also renewable. Foreign Corporations are required to pay a similar incorporation fee before doing business in the State. ba; ed, however, upon the property of the corporation, within the State of Iowa. Foreign public , ervice corporations, other than steam railroads, doing busine s in Iowa, and holding companies controlling the-st,ock of such companies, are made subject to many of the laws of Iowa affecting similac domestic corporations. Courts. Terms and Jurisdiction. The district court has jurisdic~ion of all actions, civil and equitable, and has criminal and probate Jurisdiction. Superior courts may he established by the vote of the people in any city of 5 ,000 inhabitants. It has juri. diction to try all violations of city ordinances, and the same criminal juri. diction a~ justice of the peace court . It ha jurisdiction to try and determine civil and criminal appeals and civil writs of error from justice, of the peace, situated in the township where the court is located. IIas the same jurisdiction M the district court to try all suits in law and equity, except grant divorces, alimony, and separate maintenance, 1:tnd it has no probate jurisdiction. Transcripts from . uperior and Justice's courts must be flied in di ·trict court to create a lien on real ~state. and are then enforced as judgments of the district court; Justice's jurisdiction, 5100, or. by writ,ten consent of parties, 5300. 'l'he supreme court has only appellate jurisdiction and holdi'. sessions a_t Des Moines, January to l\1ay, from May to September (le s vacation), and from September to December. . D::iys of Grace. Every negotiable instrument is payable at the time fixed therein without grace. ])~Jlositions may be takon wit.11in the 8tate, on notice. and within or without the State, on commission, issued after notice by the clerk of the proper court. \'\71en to he taken on commis ion, defendant m ay elect, in writinl!', duly served. to cro examine orally: thereupon P 1amtiil' may also elect in writing to examine orally. Exceptions nbiust be filed within three (3) clays, after the fllinir of the deposition, ut objections may neverthele. s be made on the trial for competency, materiality, and relevancy. ne,ll'ent and Distribution of Property. Subject to rights of ~ower and other charge· thereon, and burdens impo. ed during the hffetime of the decedent. and in the absence of a valid will. the estate o .one cleceased shall descend in equal shares to his children. The heirs or any deceased child shall inherit in same manner a though stuhch child had outlived his parents. If the inte.-;tate leave no i sue e whole of the estate to the extent of 7.500 after payment of debt an_d admini.·tration expense, and one-half of the e tate in exces of said • 7,500 goes to the surviving spouse and the other half to the parents. If no suniving spouse, the whole thereof shall go to his parents or the survivor of them; and so on through a,;;cending ancestors and their issue, if both parents be dead. Per ·onal property nhot necessary to pay deht. is distributed to the ame person , and in t e same proportion as though it were real e. tate. . Dower. Dower in Iowa is abolished, but the surviving spouse ~s entitled to one-third in value of all the legal and equitable estates m real property posse sed by the deceased spouse at any time during ~he maniage, which have not heen old on execution or any other JUdicial sale, and to which ·uch urvivor has made no relinquh-hment of r~ght. A spouse, heir or devis e feloniously takin~ or procurini; the tal~mg of the life of the othel' spou. e, or decedent. cannot have dower or mherit power or take under the will of the decedent. ( ee Limitations.) Employers Liability. Employers liability and workmen's compensation is governed by statute. Executions may be stayed, according t,o their amount, for ninety days o~ six month'. with a few specified exceptions. and the issuance.of execution may he prevented by filing an appeal bond. Otherw1 e ~xecution may issue immediately after rendition of judgment. The Judgment is a lien on realty within the county where rendered, or by transcript, it may be made a lien in any other county. Execution be.come liens on personal property on~y from. the time of th~ levy_ a~d seizure. Real estate is sold on execut10n subJect to redemption withm  :tr:~~~  1  gpt~ga~e:~;eg; }~ ;_ppe~l:Ji£i~~e~~~ ';~J~:!h1r:~ew~ ;a:!i ~onths ancl before nine months fl'om date of sale. Per ·onal property ts old without redemption. Exemptions. The bead of a family i entitled to a homestead of ~rty_ acres or le s of farm land, or half an acre or le:-ss in cit;1: or town. ens1on money, its proceeds, wages of the head of a family for 90 days pa t, and numerou items of pez·sonal property are exempt by ratute. There are statutory provisions concernin!{ the creation of iens on exempt real or p rsonal prop~rty, and the. a. ·i~nment of exempt wages. ,\s to alimony there 1s no exemption unle·s the Pat·ty in whose favor rcnclel'ed remarrie . Fraud. In actions for fraud, heretofore. olely cognizable in a cow·t of chancerv tlio cause of action shall not be deemed to hav' accrued until. the fr,{ud c-omplained of shall )l~Ye been di.·co\:ered by the party l!,ggr1eved by the exercise of due d1hgence. In a •(1011. brought by a l,Udgment creditor to set aside a fraudulent conveyance of property ti:om one spouse to the other and to subject said property to execution, eJiher husband or wife may be compelled. to testify again t the other. C,ross fraud is puni habl by fine or impnsonment. Garnishments. (See Attachment.. ) IIusbancl and ·wife. (Ree Married Women. lloli1la:vs. The first day of the week, January 1, February 12, rebruary 22, l\fay 30, Jul.v 4 , the first ::V1onday in ept_ember, DecemJer 2.i, the day of general elec_Lion and any day appomtcd or rec?mmend d by the governor of this State or the Pre ·1dent of the mie<l 'tates as a day of fa.sting or thanksgiving are hoHda~· ·, for all purpose relating to the pr sentation for payment or acceptance. and for the protbesti~ and giving notice of the dishonor of bill' of exchange, drafts, ank checks, orders and promissory notes. per cent. Interest. By written contract, maxinlum legal rate, Judgments draw 6 per cent,, or such rate as is fixed by the contract per ou which the judgment or deer e i rendered, not exce ding cent per annum. Open accounts draw 6 per cent aft r sbc months from date of last item; mou y loaned. money due, money due on settlement of accounts, boar int,erest at 6 per cent per annum. Contract for more than 8 per cent forfeits all interest, and costs. Judgment· in the district and sup rior courts may be obtained at _flr:-st term after suit commenced, if undefended; an equitable action, except one for for closure of mortgage, or mechanic's lien or for divorce, is t,riable at the second term after the ca. e is at i. sue. J udgments of the district court are liens on r al e tate owned by Federal Reserve Bank of St. Louis  1885  tbe debtor at the time of rendition. if the lands lie in any other county, from the time of filing therein an attested copy of th judgment. Lien also covers all lands which defendant may acquire within ten years from date of judgment, or upon which a levy is made afLer ten or before twenty years from the date of the judgment, but this lien dates only from the time of the levy. Judgments of superior courts and ju,;;tice of peace courts become liens on real estate by filing transcript in district court within county where obtained, and become lien · in other counties in the same manner as if rendered in the district court. Liens. These are mainly created by stat,ute and are enforceable in equity. In a few cases, and under peculiar circumstances, equitable liens on real estate are established and enforced in equity. Limitations. Actions, according to their subject matter, have various period of limitation, fixed by statute, extending from three months to ten years after the cause of action accrued. Actions upon judgment8 rendered in courts of record have a limilation of t1'·enty years. Dower right. and mortgages existing or created prior to January 1, 1~ 5, are barred, unless now properly preserver! in the recorder's ofiice. Imperfect deeds by executors. administrators, trustees, or guardians made prior to January 1, 18 5, are confirmed in favor of grantees in pos ession. l\Iarried ,vomen may own in their own right. real and personal property, and may manage, sell, convey, and deYise the same by either husband nor wife i. liable for the debts or liabilities will. of the other incurred before or after marriage, nor are the wages, earnings, or property of either liable for the separate debts of the, other. Contracts may be made by a wife, liabilities incurred. and enforced by or against her, as if unmarried. Both husband and wife are liable for the expenses of the family, and the education of the children. Ioratorium. Soldiers and sailors and other persons in the military or naval service of the government or who may hereaft,er enter such service during the present war are exempted while in such service and for a period of six months after the termination of the war or of said service or death, from payment of any bill of exchange or of any negotiable instrument, or of any other payment in pursuance of any contract or from any writ of attachment or execution. Any such person who is or hereafter may be a party to litigation may on request have same continued until the termination of such service or deat,h. The statute of limitations against such persons is toiled for the same period. '.\lortgages must be subscribed and acknowledged by the pa~ties creating the lien and recorded same as deed, are foreclosed by equitahle action. The wife should join in the in trument, except morti;ai::es for purchase money, and mortgages upon non-exempt personal property. The mortgagor bas one year in which to redeem real e. tate after execution sale, except as tated under the sub-title" Rxecution , " '\\'hen a mortgage is paid off, satisfaction thereof must be made on margin of the record, or by satisfaction piece, acknowledged and recorded. If no satisfaction is entered within thirty days after request in writing, the mortgagee forfeits $25. (See Chattel Mol'tgages.) (See Limitations.) • Ton-residents. Action may be brought against non-re iclents to enforce liens on any property within the state; to enforce any debt against a non-resident where action is aided by attachment on property found within the State. Personal judgment cannot in any case be rendered against defendants, not appearing, unless personal on-residents service is had on such defendants within the State. may not sell at auction unless reciprocal legislation exists in the state of their residence. Notarl~s. These officers are appointed and commissioned by the governor, upon filing a bond and paying the fee required by law. They have power to administer oaths, take depositions. and the usual power of such officers concerning presentation. demand, protest, and notice of protest of negotiable commercial paper. Partnerships, Limited and Special. Limited and special partner ·hips are permitted, but not favored. The statutes on this subject must be strictly compiled with. A certificate bowing prescribed  ~ct~!~~ :~~  g1!~Ni1  ~r  0  t~;~e~ou~fk~} ~~; th! gfn~~eoF~1t~~!~lf on!~~ county in which the principal place of business is situated, to be there recorded and similarly recorded in each county where such partnership has a place of busine . There must be an affidavit that the amount stated in the certificate has been actually contributed by each separate partner. Publication mu t be made of the certificate and affidavit for ix weeks in two newspapers in each senatorial district in which the partnership is to transact business. Powers of Attorney. A power of attorney to convey, or in any manner affect real estate, must be acknowledged and recorded. A revocation of such power must be acknowledged and recordoJ in the same office wherein the original power of attorney is recorded. Receivers. In distributing property in the hands of a receiver there shall be paid in the following order: 1. Taxe or debts due the United . t,ates. 2. Taxes or debts due the State. 3. Debts owing to employes for labor, not exceeding $100. Records. All instruments conveying or creating liens upon the real or personal property, all conditional sales and articles of adoption of a minor child, must, after having been signed and acknowledged, be recorded in the office of the recorder of deeds in the proper county or counties where the property conveyed is ·ituated, or the minor child is. Unle so recorded, such instruments are invalid as to a bona fide purchaser or encumbrancer or a articles of adoption. Redemption. Redemption from a herifl''s . ale of real estate. whether sold under a general or special execution, may be made by a creditor who has a lien on the property old, at time after six months from date of sale by paying to the clerk of the court the amount provided by statute, being generally, the amount of the pm·chaser's bid, with interest at the same rate that the judgment bears. \'Vithin the time 11amecl creditor· may redeem from each other. After nine months, and within one year from the date of sale the owner of the real e. tate sold has the exclusive right to redeem from such sale, and, in so doin!!, the debtor must pay· otr the c•laims of judgment creditors, who have made redemptions as herein above stated, in addition to the amount originally bid. Replevin. In actions for the recovery of per. onal property, the petition must be verifiecl; and if plaintiil' desire· immediate delh'ery of the property, he shall execute a bond for douhle the value of the property sought to be recovered. The defendant may stay all proceedings and retain the property by executing a bond to the plaintiff with sureties to be approved by the clerk. ales. This State has a uniform sales law. ales. including exchange and assignSales of Good in Bulk. ments, of the whole or major part of a stock of goods, or fixtures, or stock of goods ai;d fi".'tur_es, i~ _bull~. is p~esumptively fraudulent, unl~ss seven days. notice m wntmg 1, pr~".10usly sent by regi ·tered mall to ea ·h creditor of the eller, clescribmg in general terms the propert! ~o _be s?id, ru igned or ~eliv~red, and the part,i . thereto. Bot~ pa~tie must, eYef! day' pr-i_or to the . al or transfer make a detalled mventory; showm~ quantity and co. t of price to seller and ~~~1:~~t. must furni h under oath a Ii. t of bis creditors and the amount Federal Reserve Bank of St. Louis  1886  BANKING AND COMMERCIAL LAWS-KANSAS  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ----- -  - - - -- - - - ~ - - - - - - - - - - Security for Costs. Non-resident plaintiffs may, on motion of will, unless administration upon the estate has been granted in this defendant, be required to file a bond with sureties to be approved for State; provided ;that at the time of such conveyance an authenticated security of costs either in justice court or district court. copy of such will bas been recorded in the office of the probate court in the county in which the land is situated. Statute of Frauds. No evidence except in writing and signed by the party to be charged or by his authorized agent, is competent Affidavits. Affidavits may be made in or out of the State by the relative to the following contracts: 1. In relation to sale of personal same authority and with like authentication, as depositions. property. when no part of the property is delivered and nopart of Aliens. Law prohibiting aliens from inheriting or holding rea.} the price is paid. 2. In consideration of marriage. 3. Wherein estate, repealed 1901. (See Foreign Corporations.) one promises to answer for the debt, default or miscarriage of another, Arbitrations. Persons having controversies may submit them to including promises by executors to pay the debt of decedent from their the arbitration of any person or persons mutually agreed upon and own estate. 4. For the creation or transfer of any interest in lands, may make such submission a rule of any court of record in the State. except leases for a term not exceeding one year. 5. Those not to The parties may enter into arbitration bonds conditioned for the be performed within one year from the making thereof. faithful performance of the award. Stocks and Bonds. The sale of stocks and bonds is governed by Arrest. A defendant may be arrested in a civil action upon filing what is termed a "Blue Sky Law." an affidavit with the clerk of the court that he bas removed or begun Supplementary Proceedings. When an execution has been to remove his property out of the jurisdiction of the court with returned unsatisfied, plaintiff may have an order for the appearance !ntent to defraud his creditors; or has begun to convert his property and examination of the judgment debtor; or such order may be mto cash, for the purpose of placing it beyond the reach of his creditors; obtained after execution has issued upon proof by plaintiff's affidavit or has property which he fraudulently conceals; or fraudulently conor other proof that debtor has property which he unjustly refuses to tracted the debt. apply to the satisfaction of the judgment. If any property be found Assignments and Insolvency. Assignments must be for the by such examination it may be levied upon; if in the hands of others benefit of all creditors and only discharge the debtor to the amount the court may require its delivery to satisfy the judgment, and of payments made. appoint a receiver of debtors property, forbid the sale thereof and order Equitable interests in realty to be sold. Attachment. At or after the commencement of an action an attachment may be had by plaintiff. The affidavit of the plaintiff, Taxe . Real est.ate is assessed every odd year; personal property his agent, or attorney must be flied, stating the nature of the claim, is assessed every year. All property is assessed at its actual value. that it is just, the amount afflant believes ought to be recovered, and taxed at twenty-five (25) per cent of the assessed value. All and the existence of some one or more of the following grounds: 1. road taxes and one-half of the other taxes levied are payable without That defendant is a foreign corporation or a non-resident of the State interest or penalty before April 1st; the balance is payable (but in this case for no other claim than a demand arising upon conbefore October 1st. Delinquent taxes bear interest at the rate of tract. judgment, or decree. unless the cause of action arose wholly 1 per cent per month. Taxes upon realty are liens thereon; taxes within the limits of the State). 2. That the defendant ab,;;conded upon personalty are liens upon the owner's realty, except the homewith the intention to defraud bis creditors. 3. That the defendant stead, and may be continued at such liens. if the statute is complied has left the county of his re.<.idence to avoid a service of summons. with, from year to year. Taxes on personalty are liens on the personal 4. That he so concealed himself that summons can not be served property on Con-residents, stocks of goods sold in bulk, and buildings or additions made after the assessment for taxation in the odd years. ' upon him. 5. That he is about to remove bis property or a part thereof out of the jurisdiction of the court with the intent to defraud Personal property may be levied on and sold for taxes by distress his creditors. 6. That he is about to convert his property or a and sale. Real estate is sold for uupaid taxes, after notice by publicapart thereof into money for the purpose of placing it beyond the tion, on the first Monday in December of each year, subject to redempreach of his creditors. 6. He has property or rights in action which tion in three years from the date of sale. he conceals. 8. Has assigned, removed, or disposed of, or is about Trust Companies. Domestic trust companies are organized under to dispose of his property. or a part thereof. with the intent to defraud, and governed by the general corporation laws of the State. Foreign hinder, or delay his creditors. 9. Or fraudulently contracted or trust companies doing business in this State are governed and conincurred the debt on which the suit is brought. 1O. ~r that the trolled by the general statutes concerning and relating to foreign suit is brought for damages from the commission of some felony or corporations doing business in Iowa. (See Corporations.) misdemeanor. 11. Or that the debtor has failed to pay for any Trust Deeds. They must be executed and foreclosed, and considarticle or thing delivered for which by contract he was bound to pay ered as mortgages. That is, the power of sale on notice is aboli hed, upon delivery. A bond in double the amount of plalntilf's claim is and they must be foreclosed by equitable action. required except where by the attachment affidavit defendant i · shown to be a non-resident of the State. Warehouse Receipts. Any person, firm, or corporation desiring Banks and Banking. There is no constitutional pr°';sion relatto issue elevator or warehouse certificates (or receipts must file a ing to banks, except banks of issue. Other banks are organized written declaration with the recorder of deeds in the county where under a general act. The charter, in addition to the requirements his or its elevator or warehouse is situated, setting forth the particuof the law relating to corporations, shall contain the names and lars required by statute, which declaration must be recorded by the places of residence of the stockholders and the amount of stock subrecorder of deeds. Thereafter he or it may issue certificates for scribed by each, and may contain such other provi.ion. not inconcommodities actually in such elevator or warehou e, but the certifisistent with law, as the stockholder mav deem proper and shall cates must conform to the statutory provisions. A register of be subscribed by at least flve of the stockholders of the proposed certificates issued must be kept by the parties issuing them. A bank who are residents of the State of Kan a . Board of directors violation of these provisions, issuing double certificates for the same shall be not less than five, nor more than thirteen. a majority of whom property, or selling or encumbering property included in any warehouse receipt, is made a criminal offense. There is also a criminal 1 ~;f~h ~t/~~~~~tslo~!:.t!~~ c,¥~~t:oiJ fh;iY't1:iti:1~~ejh/;t t~ statute against issuing false warehouse receipts or certificates. title. The full amount of the capital stock must be subscribed before Wills. Any person of full age and sound mind may dispose of the charter is filed. The bank shall transact no business, except the his property by will, subject to the rights of homestead and exempelection of officers. the taking and approving of their official bonds. tion created by law and the distributive share in his e tate given and the receipts of payment· on account of subscriptions to its capital by law to the surviving spouse, except sufficient to pay his debts stock, until it has been authorized by the bank commi.. ioner to and expenses of ad1ninistration. ·wms, to be valid, must be written, commence busines ·. The capital stock must be paid, in full, in cash witnessed by two competent witnesses, signed by the testator, or and shall not be less than 10.000. No bank. hall employ its money by some person' in his presence and by his express direction. ubdirectly or indirectly in trade or commerce by buying and selling scribing witnesses can derive no benefit from a will, unless there be goods, chattel·. wares, and merchandise. and hall not invest in the two competent witnesses besides them. ·wms executed outside of stock of any bank or corporation, nor make any loan on the secui·ity Iowa, in accordance with the laws of the State where executed or of the shares of its own capital, nor be the purchaser or holder of of the testator's domicile, if in writing and subscrihed by the testator any such shares. except to prevent loss upon a debt previously conare valid in Iowa. If probated in any other state or country they tracted in good faith. All such property coming into the possession shall be admitted to probate in thi - tate on the production of a copy of the bank in the collection of debts shall not be considered as ets of such will, and of the original record of probate thereof, authenticated after the expiration of six months. Banks must have on hand in by the attestation of the clerk of the court in which such probaavailable funds the following sums: In citie having le.-s than 5,000 tion was made or of the probate judge, under seal, if they have one. population. 20 per cent of their depo.·its; in cities having over 5,000 All wills must be probated before they can be effectual. s~~u;;i~ng~~ ~~rv~~~\~:Sh~~af!d":~lc~Ol~~rg~~s~-,:nf!rsb!1:sc:i such other points as the bank commissioner may approve. The other half shall con. i. t of actual cash. Ollie r · are per. ·onally liable SYNOPSIS OF for paying overdrafts. ~rot more than 15 per cent of the capital stock and surplus can be loaned to any one person. company or corporation. Penaltie are provided for fa! ·e ·tatement · and for receiving deposit when the bank L· in a failing condition. Private banks are subject to the provisio~ of the law. The bank commi. ·sioner or deputy, must make examination of each bank at least once a year. Four reports per annum are required. and the commLsioner may call RELATI TG TO for others. Banks may purchase, hold. and convoy real estate under certain conditions to the extent of one third of their caJ)ital and surplus. Shareholders are additionally liable for a sum equal to the BANKING AND COMMERCIAL USAGES par value of stock owned and no more. Depo ·it Guaranty Fund. Any bank havin~ an unimpaired surplus equal to 10 per cent of il<; capi al, may participat in the guaranty fund act. .~uch bank mw,-t depo it with the ate trea ·urer moneY Revised by KRAUTHOFi\ ~ IcOLINTOCK & QUA."T or bonds of the United 'tate., tate of Kansas, or of any township, Attorneys at Law, Kansas< ity. school di.-trict, hoard of education or city within the tato, to the (See Card in Attorneys' List.) amount of !iOO for each 100,000 of its average deposits eligible to guaranty (le;·s It. capital and surplus). It hall al o pay in cash an a.mount equal to one-twentieth of one per cent of its average deposits Acknonledgment . (See Deed'.) eligible to guaranty (le:,s it· apltal and. urplu. ,. Actions, Civil actions are conducted a required by a code or In January of each year tbe commi. loner .·hall mal·e 8.! ~essments procedure. ecuriLy for costs must be given or resident plaintiffs of one-t.wentieth of one per ceut of the aYera.,z:e guaranteed deposits may deposit 15 in Heu of bonds for cost. Non-re ident plaintliis of each bank until the cash fund accumulated amounts to 300,000. may be required to give bond for costs. The commissioner may make additional 8.!. ment of the same size not more than five in any one year. If a bank fail.·. the bank commisAdministration of Estates. Probate courts in each county have sion •r takes charge and wind up its affair • Ile !.:sue to each jurisdiction of estates. Demand. against the estate are di\"ided into deposit-Or a certilkato bearing li per cent interest. ny balance due the follo\\ing classes: I. J:t'uneral expenses. 2. Expenses of the after a. sets are exhau tcd i.-; payable out of the guaranty fund. last sickness; wages of servants; demands for medicines and medical Depo. its otherwise cured do not participate, r10r a bank':s obligation attendance during the sickness and exoense of adminh,"tration. ru indorser upon bill. re-di cow1ted, not bill payable, nor moneY 3. Debts due the State. 4. Judgments rendered against the borrowed from it corr1 pondeut or others. deceased in his lifetime; but if such judgments are liens upon real Banks ar prohibited from advertising that deposit are ~uaranestate and the estate be insolvent, such judgments shall he paid teed by the State but are permitt 11 to advertl e that depo its are without reference to classification, except the first two which have guaranteed t,y the Bank Depo ·itors' Guaranty Pund. precedence. 5. All demands wit.bout regard to quality which shall be legally exhibited against the e tate in one year after granting Bills of Exchange. ( ee ~ ~ote and Bills of E:-;change.) letters of administration. 6. All demands thus exhibited after the ' Bills ot Lading. These are governed by the common law. end of one year and within two years. Demands not e.rllibited within Bulk Sale. "The sale or dispo ·al of any part or the whole of a two years are barred, except as to infants, persons of unsound mind stock of merchancll e or the fixtures pertaining thereto, otherwise or persons imprisoned or absent from the United States, who shall have one year after the removal of their disabilities. Foreign ex- , than in the ordinary cour e of his trade or business, shall be void as against the creditors of the . eller, unless the purchaser receives frOID ecutors, and administrators with the will annexed, may sell real the seller a list of the names and addr es of the creditors of the estate in this State in accordance with the power contained in the  .!ifjil~~!  THE LAWS OF KANSAS  BANKING AND COMMERCIAL LAWS-KANSAS  is  ,d  rt  le  seller certified by the seller under oath to be a complete and accurate Dce,ls of Trust in the nature of mortgages are not used so far 88 list of his creditors and unless the purchaser shall, at least seven days sale by the trustee is concerned. (See Trusts, etc.) before taking possession of the property, or before paying therefor, 0 notify in person or by registered mail, every creditor whose name pa~;~os6~~~:· ar~!fs~s~~1~~rt~:dti~e~Pgg::i~ ~g~~is~~o~~~s and address is stated in said list, or of whom he has knowledge, of depo itions. The depositions may be taken before any person authorthe proposed sale." ized to take acknowledgments. Each witness must sign his own In lieu of notice may give bond twice amount debts shown by deposition. The notice must be attached to the depositions and sellers affidavit signed by two resident sureties, who justly for propinclosed with them. The depositions should be commenced on the erty in excess of the obligation of the bond the bond to be approved day named, and some portion of a deposition taken on each succesby and filed with the clerk of the district court of the county where sive day. Sundays and national holidays not being regarded. If the property sold is located. taken by interrogatories and cross-interrogatories, under agreement Chattel Mort~ages. A mortga&-J of personal property. where the or otherwise, each interrogatory and cro -interrogatory mu t be property is not immediately delivered to the mortgagee who retains put to each witness and answered so far as he can answer it, and the actual and continuous possession thereof, is void as against creditors answer written down. If the depositions are taken before the mayor, of the mortgagor and as against subsequent purchasers and mortgages in good faith, unless the mortgage, or a copy thereof is filed in the office :J>~~·d~; h1~=!1°s~~). ap&~~l;~ !1~/J~~:~i~ott~~fse:~: of the register of deeds in the county ,vbere the property is situated, a seal. a certificate must be annexed, under the seal of the county, or or if the mortgagor is a resident of the state, then of the county of the great seal of the State, that the officer by whom the depositions which be is at the time a resident. A mortgage so filed is in valid were taken was. at the time of taking the same, such officer as he after two years unless within thirty days next preceding the expiration represents himself to be in his certiflctae. This should be attached of such two years and each two years thereafter the mortgagee, his to the certificate of the officer (not pos essing a seal) who took the agent or attorney, makes an affidavit exhibiting the interest of the depositions. mortgagee in the property and showing the balance unpaid on the Descent and Distribution. The homestead is the absolute debt, and flies the same in the same manner as the mortgage. In property of the widow and children-one-half in va.lue to tbe widow, case of default the mortgagee may sell in the manner provided in the and the other half to the children, when both survive. Tbe homechattel mortgage. stead can not be divided or sold by an act.ion for partition until all A mortgage of exempt personal property is hn·alid unless executed the children attain majority. One-half of all real estate owned by jointly by husband and wife where that relation exists unless it be husband during: coverture, and not conveyed by husband and wife, given for the purchase price of the mortgaged chattel. nor sold at judicial sale. and not nece .. sary to pay debts goes to the Collaterals. Governed by the common law on Bailments and wife in fee simple; except of land sold by husband whose wife never Pledge. before sueh conveyance resided in the State. Remaining real ·tate Conditional Sales. Conditional contracts, by which the ownergoes to the surviving children, and living is. ue of prior deceased ship remains in the party proposing to sell unt,il the purchase price children, children taking per stirpes, in equal shares, or, if none, the is paid, are treated as chattel mortgages and must be filed in the whole estate goes to the widow. For want of wife or child or living office of the register of deeds in the same manner as such chattel issue of deceased child the whole estate goes to the parents. Tbe rules mortgages but remain in force without the renewal affidavit required applicable to widow of deceased husband apply to hm~band of deceased in chattel mortgages. wife. fllegit.imate children inherit from tbe mother, and also from Contracts. All contracts which, by the common law, are ~oint the father, if his recognition ha.s been general and notorious, or in writing. When a child would inherit from either pa1·ent, such parent only, shall be construed to be joint and several. The use of private seals in written contracts (except seals of corporation) is abolished, ,\ ill inherit from the child. Pe1-sonal property descends in the same way as real e ·tate except exempt household furniture is sole property a?~ in suits upon written contracts, as to the performance of conof surviving spouse. Property descending by law or will is subject to ditions precedent, it is sullicient after setting out the contract to an inheritance tax, varying in percentage according to relationship and allege generally that plaintill has fully performed the contrnct. amount. (See Exemptions.) Conveyances. (See Deeds.) Dower. Dower is abolished by law. (See Descent and Distri- • Corporations. Corporations are formed under a general statute. bution.) Prospective corporations must apply to the chart1::r b9ard for a charter. Evidence. (See Testimony.) A $25 application fee must accompany an application. barter fee is one-tenth of one percent of its aut,horized capital stock upon the Executions may be ordered as soon as judgment is obtained if stay first Sl00,000: one-twentieth of one per cent _on all in exce. · of $100,000. has not been granted or supersedeas given. Executions rwming to Forms for applications and charters furmshed: by the S~cretar_y ~f the shcrilr or the county where the levy i.~ tn be made, may be levied State. Every corporation must commence active operat10ns. within on property in any county of the State and issue only out of court one year after filing its charter with the secretarr of state; failure to where Judgment obtained except where abstract or transcript of justice do so works its dissolution. Duration of charter 1s fifty years. <?r less, judgment flied in district court of same county as that of the justice as m~y be specified in the charter. No corporation (ex~ept ra1lrC?a~. court, execution will issue on said judgment only out of said district bank1!1g, and building and loan), can ~ommence _buune: ;> until it court. There is no stay of execution in the district court except by file with the secretary of state an affidavit made by 1ts pre~1dent 11:nd supersodeas bond which may be given on appeal. In justice's courts, secretary setting forth that not less than 20 per cent of its capital by filing bond, stays of execution are granted as follows. On any stock has been ·paid in actual cash, or property equivalent theret?, judgment for $20 and under, thirty days; over $20 and under $50, but a corporation de facto exists if the 20 per cent bas been paid sixty days: over $50 and not exceeding 100, ninety days: over $100, even though the affidavit has not been filed. The name adopted one hundred and twenty days. Real estate is only subject to execumust indicate the nature of the business. The corporate name must tion issued out of district court of county wherein judgment rendered begin with the word "the" and end with the word "corporation." or abstract or transcript from justice of the peace filed. Executions "company," "association," or "society," but thi docs not apply are liens on personal property only from time of levy. Real estate to banks, benevolent or religious societies. There mw,t be at least sold on execution or order of sale, giving the debtor eighteen months five directors, three of whom must be resident· 9f the State. The in which to redeem. The debtor is entitled to posses."ion of the annual statement shall be made by each corporatwn for profit or on property and rents and profits, during the period provided for redempbefore Ma1·ch 31st of each year, showing a complete detailed statetion, except in case of waste. Receiver may be appointed to present ment of the condition of such corporation, on the 31st day of December waste and may use so much of rents and profits as are necessary to next preceding. Pailure to file this report within ninety days from repair waste and pay costs of receivership. Surplus if any to be paid time fixed works a forfeitw·e of the charter, and a penalty _of $-'> for to judgment. debtor free from the lien of any judgment. each day the report is delayed. Tl_10 capital can be mcrea.s~d Exe1nption . Homestead of lG0 acres of farming land, or of one to an amount not exceeding throe tunes the ongmal an;1ount fixe~ m acre within an incorporated town or city, with buildings thereon, the charter and to any further amount of bona fide paid up c~p1tal. appurtenant to the u.·e of the propert:r as a homestead, lmlimited in pap ital stock may also be decreased. !'referred. s;ock can be 1 · ued value. .All household goods and wearing apparel; two cows, ten lf all the holders of common stock consent .. Dn·1dend:s can not be hogs, one yoke of oxen, and one horse or mule or in lieu of one yoke declared from any source other than that which re:·ult from profl~s. of oxen and one horse or mule, a span of horses or mules, and twenty The corporation can borrow money not to exceed the amount of its sheep ancl their vool; necessary food for the support of such stock for capital stock. one year, one wagon, two plow·. drag, and other fa:r1ning utensils, not Cost~. (See Actions). Corporations (except ba~ks, insurance, exceeding . :lO0; grain, meat, vegetables, groceries on hand, etc., building and loan companies and t!1ose not ~r!{amzed lo: -~rofi,t) m~t necessary for the family for one year: the tools and implements of Pay an annual franchise tax on paid-up capital as foll'?'\ :s. ~ ot _over anv mechanic. miner, or other person, kept for the purpose of carrySl0,000, IO: over $10,000 and not over 25,000, .• 2.,: over $2u,000 ing ou his busine: , and in addition thereto stock-in-trade not exceedand not over 50 ooo 50· over 50 000 and not over 100,000, SlO0: ing S-tOO in value; library, implements, and office furniture of any over 100,000 and not o;er $250.000, 125: over 250,000 and _not professional man necessary for carrying on such trade. Also personal over Sfi00,000, . 250: over S500,000 and not o er SI,000,000, ;,0o: earnings of the debtor earned during three months preceding the over $1,000,000 and not over $2,000,000, 1,000; over 2,000,000 garnishment or attachment, and three months' pension money, where a~d not oyer S3,000,000, $1,500; over 3,000.000 and not over such earnings or pension money is necessary for the support of the $0,000,000, $2,000; over $5,000,000, $2,500. debtor's family, but 10 per cent of such earnings may be required to I.Je paid in and applied on the judgment. Courts. Terms and Jurh,diction. District. cour~ ·,. hol~iDf:!: t~vo_ to ~hree terms a year in every county, have general original Juri.·d1ct19n Foreign Corporations. A foreign corporation doing business in 1D law and equity. Regular terms of the probate co!lrt are _held m this State IlllL'-'t file a certified copy of its charter or articles of ineach "0Unty on the first. Iondayiu each m~ntb and pe, 1a.l o~ a<lJo~~d corporat,ion with the secretary of state and pay to the tate treasurer t~rm:s may be held as busine"· may reqmre. ,, Ju_ t1ce JUr~s~lct1on_ m the same fees upon the amount of capital invested or used in this civil actions for the reco •ery of money, .... oo. w recO\eI specifi:c sLate as a domestic corporation, when it receives a certificate authorPersonal property not valued in excess, ...,300. The supremo court 1s izing it to do business and is then subject to substantially the same pro, isions, judicial control, restrictions and penalties as a domestic the court of last resort. corporation. Annual statements must be filed on or before March Creditors' Bills. creditors may bring an action in the nature of 31st. giving condition on the 31st of December preceding. If a a creditors' bill to marshal assets or set aside fraudulent conveyances foreign corporation fails to file with the secretary of state the stateas in 01,her states. ment requir d by law within ninety days after the time provided for, Days of Grace. Abolished. • it ri.,ht to do business in the State i · thereby forfeited. A penalty Deed. . No particular forms of coll\·e)'.ances. are pre.·c~ibed. As is imposed of 5 for each day this report is delayed. Foreign cora rule the form used in other Siate:s 1s su!lic1ent. .As between porations must pay an annual franchise tax on that portion of their tho parties conveyances are v~lid wit~iout bt:mg rcco,rded. Deeds capital represented by its property and business in Kansas on the 1;1ay be valid as against attachmg cred1t_ors without I?. ing recorded. same basis as domestic corporations. Failure of foreign corporations 'I he wife should join with her husband m t!1e conve~ anc.e,_ an~ any who transact business in Kansas, other than interstate commerce conveyance or mot·tira~e of the hon_iestead without her Ul}ltmg m the to comply wit.11 this law renders. them subject to ouster and receiversame i absolutely •oid. If the wife has never re ided m the , t.ate ship prm•ecrlings on tllo part of i he State hut does not, now affect t,he her signature is not nece sary. Grant~rs need not attach an:, . eal right of such forei!?n corporation to sue in the court of this 'late. or scroll to their si"nature ·, and no w1tne. ~ are ncce,,. ary unle s Fraud. ("'ee Attachments. Arrest, and A:signment<;.) f,,'l'antor· are unable ~to write. Corporations con, ey by dE;f]d, sealed Garnislnnent in District Courts. At or after the time of With the <"orporate seal and si~ned by pre. i<lent, vice-pr ·1dent. prebeginning an action to recover damages founded upon contract, ~iding memher, or trustee. The ackno":ledr;mcnt mu~t b_e before a judgment or decree, or after the issuance of an execution and before Judge or clerk of the district c,mrt bavmg a seal. a Justice of the it is returned, if the plaintiff cause to be filed with the clerk an affidavit Peace, notary public, county clerk, regi.-ter of deeds, mayor. or cJe_rk stating the amount of his claim over and above all offsets, that he o_f an incorporated city. Every_ no~ary pub~lc shall 3:d<.! to bis ofl1c1al believes that some peri-;on, naming him, indebted to, or has property signature tbe elate of the e.·p1rat1on of his co_muu 1011 as notary in his possession or unde1· his control belonging to the defendants, and public. In cases where the acknowledgment 1s made out of the State It must be made before a court of record, a clerk, or other that such defendant bas no property liable to execution sufficient ofllcer having the seal thereof, a commission r of deed for ransas, to satisfy his debt, and that tbe indebtedne · or property so held is justice of the peace or notary public, or before any consul of the , not by law exempt from seizure or sale upon execution, the clerk United State. resident in any foreign country or port. Deed. and sball issue a garnishment summon.. In justice courts the affidavit mortgage must be recorded in the office of the register of deeds of differs from that acquired in dist,rict court actions only in that afflant the county in which the land is situated, or they will be void as to states that plaintiff i. in danger of losing his claim, in lieu of the subsequent grantees in good faith without notice. allegations that the defendant has not property subject to execution  fJ'~~=  g~\f!hiff  us tY eY  ip, he to an its ts its  o.  ize is-  cb ue id. on eY  1887 Federal Reserve Bank of St. Louis Federal Reserve Bank of St. Louis  1888  BANKING AND COMMERCIAL LAWS-KANSAS  :.\Torti;:-ages. A mortgage of real estate, to be valid as against suh:;equent hona-flde purchaser · without noLice. must he duly acknowlectrwd and re<"ordecl in the ofll<'e of the register of deeds of the county where the land is situated. :\Iort!!'.ae;es may be Yalid as against attaching creditors without rerording. :'.\Iortgages may be di"ehargcd on margin of record by mortgagee or attorney or assignee by duly acknowledged power of attorney or assignment in presence of reg-istPr, or by . atisfaciion entered on the instrument when copied on the margin h:,.' the register ; or hy an independent release duly arknowledged and recorded. l\'ife must join in all mortgages except those for purchase money, except in cases where .. he has never heen a resident of the State. Mortgages are fl wclosed by suit only. By an act of the Legislature which took efl'ert :'.\clay 18, 1893, real estate sold under foreclosure of mort1,r nge is subject to eighteenmonthsredemption. Ir the mortp;age foreclosed is on abandoned property or not occupied in good faith and the court so finds, six month only is allowed for redemption. Thi act does not apply to morte;ap;es executed prior to the date the act took effect. \Yhen a mortgage is a,;;signed the a. signment should be acknowledged and recorded. If the a.%ignment was executed prior to l\larch 15, I ·99, it can he recorded whetller acknowledged or not. and under the laws must be recorded within four months from that date or payment to the recent owner of the mort::rage without notir-e of the outstanding assignment, will be a romplete defense to an action thereon. (For Forms, see Deeds; see Executions.) ( For Mortgages on Cb at tels, see Chattel :'.\Iortgages: see Executions.) Notaries. Notaries are appointed by the novernor and serve for four years. They give bond in the sum of 1,000 and are required to affix the date of the expiration of their commission to all certificates. Notes and Bills of Exchange. Uniform ~ •egotiable Instrument Act took effect June . 1005. Partnerships. Limited or special partnerships may be formed for any le:zal purpose except hanking or in urance. Huch partnerships may consist of one or more persons who are general partners, and one or more who contribute a ·pecific am01mt of capital and shall be called special partners. The . pecial partner are not liable for the debts of the partnership beyon<t the amount contributed by them respect,h·ely but the name. of the special partner;; mu.·t not, be used in connection with the business. Such a partnership is formed by executing a certificate stating the name, the nature of tbe business, the names of the general and special partners. and their place of residence. and the amount of capital contributed by each special partner, and the period when the partnership is to commence and when it will terminate. The certificate must be acknowledged and filed and recorded in the office of tbe cotrnty clerk. Jurisdiction. (See Courts.) Power of Attorney. ( 'ee Deeds.) Probate Law. ( ee Aclmini ·tration.) License. Agents of insurance companies are required to take out licenses from the superintendent of insurance. Cities are authorized Protest. (See Notes and Bills.) to enact license ordinances and certain cla ses of business are required R<'cords. (See Deeds.) to take out a !icon e. Redemption. (See ~Iortgages.) Repte, in. The plaintiff in an action to reco\·er the possession of Liens. Mechanics, material-men, and laborers, both original conspeciflc pPrsonal property may claim the immediate delivery of the tractors, and sub-contractor , and laborers of sub-contractors are same by filing affidavit and givin~ bond double the sworn value of entitled to obtain lien upon real estate for labor performed or material the property. Property replevined be held by the officer taking worn statements furnished in tbe erection or repair of any building. it twenty-four hours, during which time the parry from whom the itemized as fully as practicable as to the amount of the claim, for property is taken may give bond to the plaintiff for not le ·s than what and when it was rendered and by whom, giving names of condouble the amount of the value thereof conditioned for the return tractor and owner and description of property and date of last material of the same or its ,·alue in case it shall be adjud~ed the plaintiff is furnished, must be filed in the office of the clerk of the court. Original entitled thereto, and thereupon may ha\"e tbe property returned to contractor's lien claim must be fl.led within 4 months from date of him. last materials, or labor furnished and others entitled to lien within sixty days aft,cr last materials or labor fllrnished. Lien claimants Senice. AJI sen·ice of proce. is made by the sheriff or by conother than original contractors, must give immediate notice of filing stables. or by ome one specially authorized in any particular case, of lien claim to owner or person in possession of the premises, where and must be issued in the name of the state with the ·ea! of the officer that may be done, otherwise must po ·t notice on the premise . i suing the ame affixed. Supreme court has rendered notice almost unnece sary. Action to Suits. (See Action .) foreclose lien must be begun within one year after filing claim. LiveryTaxes. One-half tbe annual levy for ta.·e,, become. due Decemstable keepers, forwarding merchants and common carriers have liens. 20, and if not paid the "bole amount becomes due and there is a ber hand in funds and papers on lien have Attorneys (See Judgments.) penalty of five per cent added. If the whole amount is paid there for general balance of compensation and have lien on moneys in hands is a rehate of ,5 per cent on the lru t half. If not paid by June 20 of clients adversary due client in any matter, action or proceeding, in which the attorney was employed for service therein from the time , the succeeding year, another 5 per cent penalty is added. ·when tho tax upon real e tate is delinquent it is old for taxes on the fir t of service on the adverse party. in the manner of a summons, of Tuesday in eptember following. After sold it bears interest at the written notice of the lien. rate of 15 per cent per annum and the ame rate upon subsequent Blacksmiths, horseshoers, wagon makers and garage proprietors taxes paid and indor ed on the tax certificate. The tax lien attaches given lien for material and labor in their work perfected by filing to real estate on Tovember l, in the year in which the tax is levied. statement of lien within sixty days after the services in the office After land is sold for taxes, it may be redeemed wiibin three years of the register of deeds of the county where performed-foreclosed from date of sale. The interest of a minor may be redeemed at any in same manner as chattel mort!!"age. time within one year afl,er he attains hi majority, and idiots and Li ns similar to ordinary mechanics lien arc girnn by statute for insane per ons may redeem within five years after the ale. materials and labor furnished on oil leases in their development, and are foreclosed in like manner. Trust Companie . Trust companies may be orgamzed with a Limitation of Suits. An action for the recovery of real property, capital of not Jes. than 100,000, and may receive money" iu trust sold on execution or by executors, administrat.ors, or guardians, and execute any trust committed to them, either by any person or brought by the execution debtor, or the heirs, ward, or guardians. by order of any court, and may execute or guarantee any bond required within five years after the deed is recorded. Other actions for , by law to be given in any proceeding in court, and act as ag-ent for recovery of real property, within fifteen years. On official bonds the investment of mone)', and for the purpose of i.~suim~. registering, and contracts in writing, five years. Contracts not in writing, three transferring or count rsigning certificate of stock, bonds or other years. 'l'respass, detinue, replevin, injuries not arising on contract, evidences of debt, act as guardian and guarantee the fidelity aud perand relief on the ground of fraud, two years. Action for libel, slander, formance of duty of persons holclin::r public offices or private trusts, malicious transaction, or false imprisonment upon a suit for penalty and certify and guarantee title to real estate and sell all kinds of or forfeiture, one year. Action for any other relief not before negotiable paper, and receive depo-;it · from banks and other trust companies or public omcer ·. 'l'bey are required to keep on hand 25 provided for, flve years. In any case founded on contract, part payment, or an express written acknowledgement or promise, renews per c nt of deposits subject to check and 10 per cent. of time deposits. onin the same manner as state banks. Each direcror musL be a stoclcthe contract. The statute runs from the date of uch renewal. tractual limitations differing from the statutes are void. holder in the sum of not Jes,· than 1,000. companies are under the supervision of the bank commissioner and subject to his l\larried ,vomcn. The real and personal property owned by a examination. woman at the time of her marriage, and any property which comes Trust. and Power . All tru. ts concerning lands must be created her except person to her by descent. devise, or bequest, or gift of any in 11Titimr except ·uch a ari. e by implication of law. husband, remains her sole and .·eparate property notwithstanding her marriage. and is not subject to the dispo al of her husband or liable \\'arehou e Receipb. Practically tlle Uniform "Warehouse for his debts. ~1arried women may soil and convey their real and Receipts Act." personal property and enter into any contract with regard to the Any person of full age a.nd sound mind and memory. haYWills. same in the same manner and to tlle same extent a,;; a married man ing an interest in real or per.·onal property, may giYe and deYise the 'he may sue and be sued in the may in relation to his property. person by last will and te ·cament lawfully executed. any to same or trade any on carry same manner as if she were single. Rho may subject. neverthele.-;.s, to the rights of creditors and t-he estate giyell business, perform labor or sen·ices for her separate account, and her a spouse by statute. Will. · mu. t be in writing, signed at the end bY earnings or proceeds from labor, trade, or busines.,;; remain h rs parate the testator, or a.not her in his nresence and h;\' his express direction. and subscribed in his pre. enc aud at his r quest hy t ,, o or more ff~f~rJ[ria~~dis~~~ J!b~ 1~r 1~e~ 1~b!!tt~c~>lre~ei~ i~e~~~P~~i\enr,g~t \\ itue. ·st•~ \\ ho saw him sul>. ·rilJC' or lwarcl him ac·kno\\ Iccl~l' com111'tent ness undertakings by virtue of the marria~e relation. , he may also it. \\·ills ext>eutc(i ,,ithout the .~ tate in th• 11m1111Pr pre c·rihed l>Y tlld contract with her lmsband with the same efiect, as though the married the place ,,h •re execut d or of thl' tl'stator·s domicile or of oithcr law relation between them did not exist. ofth HtatcofKansa · arcdt•clarcdlei..:all)· c ecutPcl. <' om1,liancewi~h requiremputs should appear in tho ,litnP.,..,ing c-lau e. A \\Jlfl th1• ].\,fine~ and :\lining. The law provides for the appointment of a. ex ·ute I, pr,wP1l, and allow d in anoth r State, in t!Je court o mine inspector with authority to require mine owners to provide original probate. a t·cording to the law· of that :tall', may, rl'lati\C certain facilities for the health and safety of per. ons employed and to property in thi, Hta.te, he a1lmit t d to re .. ,,rd in the proha.te court compel proper ventilation, regulate excavation. , air courses, etc. of the eounty in wl kh .·uch propl•rty L· s ,twltt>cl , by prnduC'in~ an This !av, is quite elaborate and violations of the safety provi ions of the act--resulting in injury to employees, usually re ·ults in li,1.hllity authenticated c-npy of tlte will and orclt: r o prob.ill' admittln!s it.t~ even where the l{ansM "-'orkm(•n's Oompensation Act doe not prohato by the pro1 E'r C'ourt of the cc unty au<l . tatl or '"l11cf apply, on the part of the mine opera.tor to t.he employees because of i~ i:\~~~;1ilfi~:te~l the positive duty resting on the operator to C'omply with uch statutory provisions. the pro Late cn1rt and r •~orde I. sufficient, to satisfy the debt. In the district courts bonrt in double amount clairnecl is required on garnishments hefore jucl!m1cnt. P ·<'ept whore defendant is a non-resident. No bond required in justkc courts. Guaranty Companies. ( cc Trust Companies. ) Holidays. The following are legal holidaYs : Januarv 1st. known as .,.ew Years Day. February 12th, Lincohi's Birthday. February 22nd, ·washington's Birthday. May 30th . 1\lemorial Day. July 4th, Indepem1ence Day. First Monday in Reptcmber, Labor Day. O<'tober 12th, <'olumbus Day (but does not affect commercial paper). Deeember 25th, Christmas Day. If any of these days fall on Sunday the next secular 01· business day is a legal holiday. Legal or business proceedings had on a holiday, excepts Sundays, are valid. Husband and Wife. (See Married Women.) Injunction . Injunctions may be granted by a district court or by the judge thereof at the beginning of an action or afterwards. in his discretion. A bond must be p;iyen to protect the defendant against any loss in case the injunction is wrongfully obtained. ln the absence of the judge from the county the probate judge may grant temporary injunctions. Insolvency. (See Assignments.) Interest. Legal rate, 6 per cent, but IO per cent may be agreed upon. Excess of 10 per cent is forfeited, and in addition thereto there shall be deducted from the amount due for principal. with lawful interest, an amount equal to the intere t contracted for in excess of 10 per cont. The legal interest originally contracted for continues until the debt is paid, and no additional interest can be charged by way of penalty for default except from date of default. A purchaser of a negotiable note in due cour ·e take · t.he note ftee of the usuriou~ taint. Judgments. Judgments of courts of record are liens on tbe real estate of the debtor wit.hin the county from the first day of the term at which the judgment was rendered; but judgments by confession and judgments rendered at the same term during which the action was commenced are liens only from the day on which the judgment was rendered. Judgments lose their priority over subsequent, judgments unless execution is issued and levied within one year after judgment. A certified copy of the judgment appearing of record in tbe district court may be filed in the office of the clerk of the district court of any other county and the judgment will then be a lien on real estate in that county. Abstracts or transcripts of justice court judgments may be filed in the district court of the same county, aro liens on real estate in such county from the date of filing. after which executions i ·sue only out of. aid district court on such judgments.  ~~1!~~~1:~·,1 1:~,1~'.ro~~feP!~~iftt~ON1 -~t 0r-::i i1t0:~0or  BANKING AND COMMERCIAL LAWS-KENTUCKY  SYNOPSIS OF  THE LAWS OF KENTUCKY RELATING TO  BANKING AND COMMERCIAL USAGES u-  or ed  "fl-  nt ed ps nd all be m ed by ss, of ial nd nd  Prepared and Revised by MooRMAN & WooDWARD, EsQ., Attorneys at Law, Louisville. (See Card iu Attorneys' Li t.) Acknowledgment . Deeds executed within the tate may be acknO\vledged before the clerk of a county court or a notary public, or may be acknowledged before and proven by two ·w itne. es. Deeds executed wit,hout the State and within the United ' must be acknowledged before the clerk of a court or his deputy, notary public, mayor of a city, secretary of state commissioner of deeds, or judge of a court; if executed without the United States must be acknowledged b erore a foreign ministe1·, consul, or secretary of legation of the United 8 tate. , or the secretary of foreign affair. , or judge of a superior court, obf the nation where the deed shall be executed, attested in either case Y the officer's eal of office. "\: hen the acknowledgment is taken, thI?-e officer may simply certify that the deed was acknowledged before un, and when it was done. Actions. Actions are commenced by filing in the clerk's office of ~he proper court a petition setting forth the cause of action and causon-resi~g a summons 01· a warning order to be i ued thereon. and corporations, other than banks, created by laws of this setnts ate, are required to give security for costs. Administration of Estates. Personal estates of deceased persons must be administered by the executors named in the will, or if these ref:iise to qualify. or none are named, then by an administrator apP0t_nted by the county court of tne county in which the decedent resided at the time of his death. Administrators and executors are required to give bond for the faithful performance of their duties and ,wit,h surety unless otherwise directed l?Y _the will. They are required to file an inventory of the estate within three months and to make settlement within two years from the date of qualification. Affidavit. . An affidavit may be read to verify a pleading, to prove the service of a summons, notice, or other proce s, in an action; to obtain a provisional remedy, an examination of a witne s, a stay of proceedings or a warning order; or. upon a motion. An affidavit ~ay be made: 1. In this State, before a judge of a court, or a JU~tice of the peace, notary public, clerk of a court, or master-commissioner. 2. Out of this State, before a commissioner appointed by the governor of this State; or before any other person empowered by a commis. ion directed to him by consent of the parties or by order of the court· or before a judge of a court, a justice of the peace, a mayor of a city,' or notary public. Appeals. Appeals ma.y he taken from a justice's court to the quarterly court reQ;ardless of the amount in controversy; from the quarterly court to the circuit court when the ·\'alue in controversy, exclusive of interest and cost , exceeds ,.25; from the circuit court to the court of appeals as a matter of right in all c~ es in which the title to land, or tbe right to an easement therein, or the right to enforce a ~tatutory lien is directly involved, and in all cases when the value m controversy exclusive of interest and co t , amount to 500 or more, but when such amount in controversy exceed · 200 and is less than 5500, the party deserving the appeal, may upon payment of the tax and filing the record in th clerk's office of the Court of Appeals, 0  ted use  avthe ted. ·yen  bY  ion. JOI'!'  (I"(' [11~  c or dth "ill  t of th·e  ourt an it (0 J1ich eof. e or y  0  0  ri1:i~; ~ ili°e r~~tJh3/P!eea~~ee :;~~~~d~ho~1Jhioi ~~t g~~grer;~ motion shall be overruled without a written opinion. and no petition for a rehearing will be entertained, but if the court. hould be of opinion the ends of justice require the judgment be reversed then the appeal will be granted and a written opinion will be flied. • ·o appeal lies to the court of appeals from any judgment of a quarterb'. city, police, fiscal or justice's court, nor from any judgment of the county court. ;1\rbitration. All cont,roversies which might, be tho s~bject of a suit may be ubmitted to the decision of one or more arbitrators, or two and their wnpire. Tho submi.. ion may be in writing or by entry of record, and the agreement of ubmi ion shall _be binding ou the Parties thereto, if it stat s t,he matter to te subm1tte<;1 an~ who are to be the arbitrators. Each arbitrator and the umpire, 1f one b~ chos n, shall take an oath to decide \he !natter in contr~ver y fairly and impartially according to law, Justice and the equity of the whole case. The award must be in writing signed by each arbitrator and the mnpit· , if any, and shall be a anal eLtlement of the C?ntroversy between the parties. A copy _of. the award must be given within a reasonable time and shall be bmdmg upon both. Arre t. An order for the arrest of the defendant. shall be made by the court in which the action is brought or pending, at its commencement. or at anv time before judgment. if an affidavit of the Plaintifl' be flied in hf office showing: 1. The nature of plaintiff's claim. 2. That it is just. 3. The sum or value, which the afflant helieves the plaintitr ought to recover. 4. That the a!Iiant believes, !'}ithcr that the defendant is about to depart from thi · State and with mtent to defraud his creditors has concealed, or mo,·cd from this State, hi property or so much thereof that the proc ss of the court after judgment can 'not be executed; or that the defendant bas money, o~ securities for money, or evidences ?f debt, in the po ...ession of himself, or of others for his use, and 1s about to depart from this State without leaving property therein sufficient to sal.i:fy plaintiff's claim. Assignments and Insolvency. 'ubject to -'- ·ational Bankrupt ~aw. Every voluntary assignment made by a debtor to any person m trust, for his credit.ors shall I e for the benellt of_all the creditors of the assi~nor, in proportion to their respective claims. after the payment or the expenses of the tl'ust; except that property con eyed by the deed of assignment, and upon which there is a Yalid lien, shall be applied first to the di·charge of the lien debt: and except that debts due by the assi~nor as guardian, committee, tru tee of an expre. ·s tru t · created by deed or will, or a pe1 onal representative shall be paid i11 full hofore the grneral c1·e 1iitor,; r eiYe anvthino-' 'l'he intent of the a. signor in making the deed of as. ignment s:ia1i Federal Reserve Bank of St. Louis  1889  not invalidate the dee , unless he be solvent, and it appear that the assignment was made to hil1der or delay crotlit,ors. The deed vests in the assignee the title to all tbe estate, real and personal, belonging to the assignor at the time of making the a. ·sigument, except that property exempt by law shall not pass unless embraced in the deed. lf the assignor, before making the deetl, shall have made a preferential or fraudulent transfer, conveyance, or gift of any of his property, or fraudulent purchase of any property in t.he name of another, the property so fraudulently transferred, conveyed, or purchased shall vest in the assignee, and it shall be his dut.y to institute such proceedings as may be necessary to recoYer same. If, upon demand, he rel'w;es to do so, any creditor may, and t,he property so recovered hall become a part of the estate, and be distributed as other a.-;sets. If creditors representing one-half in number and two-thirds of the amount of debts against the estate shall so request in writing, the court shall remove the assignee and appoint another in his stead. Attachments. The writ may issue against a defendant who is a foreign corporation or non-reisdent of the State; or has been absent from State four months; or has left the State with intent to defraud credit,ors; or has left his county to avoid service of summons; or so conceals himself that summons cannot be served; or is about to remove, or ha remoYed his property or material part out of the State not leaving enough to satisfy claim of plaintifl' or defendant's creditors; or has disposed or is about to dispose of or sell his property, or permitted t,o be sold or disposed of with fraudulent intent ot cheat, hinder or delay creditors. Also in action for money due upon contract judgment or award, if defendant have no property in State subject to execution, or not enough to satisfy plaintiff and collection will be endange1·ed by delay in obtaining judgment and return of nuJla bona. Abo in action for personal property ordered to be delivered to plaintiff which as part thereof has been disposed of. removed, or concealed, o that order of delivery can not be execut~d. Affida'\'it as prescribed by civil code and bond required, except no bond required in action upon nulla bona return. Banks. It is unlawful for any person or persons, either as individuals or co-partners to engage in or conduct the business of private banking in this co=onwealth.. Corporations may be organized to conduct both a banking and trust company business. The boards of directors of banks and trust companies doing business in this State have full power and authority to flx the hours of opening and closing of said banks and trust companies, _and may provide that on at,urday of each week such hour of closmg be as early as twelve (12) o'clock noon. A Depart,ment of Banking, providing for a Banking Commissioner, deputy commissioner and examiners of State banks, and pre cribing their duties and for the examination of all financial institutions organized and doing business under the laws of the State was created by a law effective July 1st, 1912. Chattel l\.lortgages and Deeds or Trust. No deed of trust or mortgage, conveying a legal or equitable title to real or personal estate, shall be valid against a purchaser for a valuable consideration, without notice thereof or against creditors, until such deed shall be acknowledged or proved according to law, and lodged for record. It is a penal o:fl'ense, puni,;hable by fine and imprisonment, for any person to sell any personal property, on which there is a mortgage of record, with the intent to prevent the foreclosure of the mortgage and a sale of the property. Checks. The issuing of checks in this State upon banks where the drawer bas not sufficient funds on depo it to pay same is now a criminal offense. If amount under $20.00 it is a misdemeanor, and the penalty 100.00 or jail confinement one to thirty days, or both such fine and imprisonment in discretion of the Court or Jw·y. If the checlc be for $20.00 or more, it is a felony and confinement in penitentiary for not less than one or more than two years, but if the drnwer of the check shall pay same within twenty days after receiving notice of the dishonor of the check, he shall not be prosecuted; or if the prosecution bas been begun, it shall be dismissed at cost of the maker of the check. Contracts. A seal or scroll is in no case necessary to give effect the upon stand writings to a deed or other writing. All unsealed same footing with sealed writings, having the same foree and e1Iect, and the same actions may be founded upon them. The State or county seal, or the seal of a court, corporation, or notary to any wrilb1g has not, however, been dispensed with. Con,•o;yances. (See Aclmowledgments.) Corporation . Formed under the general laws for transaction of pecial regulations prescribed for foreign corany lawful business. porntions doin~ business in the State, and for banking, building and loan, trust, insurance, and railroad companies. Cumulative voting pre ·cribed. Stockholders in banks, trust companies, guaranty companies, investment companies and insurance companies are liable equally and ratably, and not one for the other, for all contracts and liabilities of corporation to extent of the amount of their stock at par value in addition to amount of suer stock; but persons holding stock, a.s fiduciaries, are not personally liable, but estates in their hands are in same manner and to same extent as other stockholders, and no transfer of stock operates as a release, of any such liability, existing at time of t,ran fer. provided action t,o enforce the liabilit,y be commenced within two years from time to the transfer. Articles acknowledged and TC'corded like deeds in county in which principal place of businef<S is situated. and a copy thereof fited and recorded in the office of the secretary of State. After uch filing and recording, and payment to tate of license tax of one-tenth of 1 per cent on its capital stock, corporation is deemed organized; but, before tran acting business other than with it own st,ockholder , at least 50 per cent of stock must in good faith be subscribed, payable at such time· as board of directors may require. In 1!)20 Kentucky adopted a "Blue Sky" law prohibiting the sale of stocks or securities ( named exceptions) until approved by t,he State Banlcing Commissioner, who requires full information on blanks furnished by his office. Courts. General civil and criminal juri diction is vested in circuit courts which hold terms in each county as provided by statute. Credits. By an Act approved March 14, 1!)14, it is provided that a person who shall h-nowingly in per on or through any agency make any false statement in writin~ with int.ent it shall be relied upon, respect,ing I?-is fina~cial co_ndit.ion, or means or ability to pay, for t,he purpose of procurmg delivery of personal property, the payment of, the making of a loan or crctlit.. or extension of credit and procures upon faith thereof either or any of the things or benefits mentioned, ~hall be g~lty. of a felouy ancl upon conviction, shall be confined m the pemtentiary not less than one nor more than five years. Dass of Grace. ( ee Notes and Bills of Exchange.) Depositions may be taken in all equitable acUons, and in ordinary or common law actions, where witness resides twenty miles or more from place where court ~s held, or is absent from tate, and in many other <;a.:-;es enumerMed 1r.i the statute _where the witness is privileged. Depos1t1ons are taken either on notice to oppo ite party or upon wri~ten interro~atories. The ?rdi~ary method of taking i upon not~co, but where place of takmg 1s more than one day's travel by orJ1_na_ry m thorls and morC' than one hun<lrerl miles from the l)lac-e of s1ttmg of comt, _the party rE:ceiving !'~tice may require deposition to be taken upon mte1Togatones by g1vmg notice to that effect to Federal Reserve Bank of St. Louis  1890  BANKING AND COMMERCIAL LAWS-KENTUCKY  adverse party or his attorney upon same day, or day following one Up!)n which firs~ notice was sened. Except in divorce cases, depos1t1~ns are required to be taken upon inten·ogatories, if all parties agamst whom they are to be read have been constructively summoned and have not appeared, or be dfendants, or under di--ahility other than coverture or infancy and coverture combined. lb several other. <;ases enumerated in tb_e civil code, the court may require depositions to be taken upon mterrogatories, and they may always be so taken by consent of all parties. Officers authorized to take depo ·itlons in ~his. St~te: f\n examiner appointed by judge of circuit court of t~1s district,. a. Judge or clerk of a court, justice of peace, or notary pubhc. Depositions may be taken out of this State before a commLsioner appointed by governor of this State or before a judge of a court, a justice of peace, mayor of city, notary public, or any ot,her perso~ empowered by a commission issued to him by conse~t of the parties qr by order ?f court. If deposition is taken upon mterrogator1es neither party 1s allowed to be present, either in pe1·son or hy agent attorney. The officer's certificate must state when and where the deposition was taken; that the witne was duly sworn before giving It, and that it was written and subscribed by ~im in officer's presen<'e, or was written by officer in presence of witness and read to and sub cribed by witness in presence of officer. Descent and Distribution of Property. The real estate of a person dying /ntestate sl1all_ descend in parcenary to bis kindred, male and female, m the followmg order, viz: (1) To bis children and their de cendants: if none, then (2) to his father and mother equally 1f both be living; if either be dead, the whole estate descends to the one living; if both be dead, then (3) to his brothers and sisters and their descendants; if none, then (4) one moiety of the estate shall pass to the paternal and the other to the mtarenal kindred in the following order: (5) to the grandfather and grandmother, or'whichever may be living; if both are dead, then (6) to uncle>" and aunts and tneir descendants; if none, then (7) to great grandfather and great grandmother, and so on in other cases without end passing to the nearest lineal ancestors and their descendants. (8) ' If there is no kindred to one of the parents, the whole shall go to the kindred of the other. If there is neither paternal nor maternal kindred, the whole shall go to the husband or wife of the intestate, or if he or she be dead, then to bis or her kindred as if be or she had survived the intestate and died entitled to the estate. ·when anv or all of a class first entitled to take are dead, leaving descendants such descendants shall take per stirpes, that is to ay, by representation, the shares of their respective deceased parents. Collaterals of the half blood shall inherit only half so much as those of the whole blood. In making title by descent, it shall be no bar to a party that any ancestor, through whom he derives his descent from the intestate, Is or has been an alien. Dastard can inherit in the descending line only from the mother and her kindred, and can· tranc:mit inheritance in the ascending line only to the mother and her kindred. Dower. (See Husband and . Wife.) Executions may issue upon judgment any time until collection of it is barred by limitation, but no execution shall issue on any judgment, unless ordered by the court, until after ten days from rendition. Execution constitutes lien on property of debtor from time it reaches hands of proper officer. Execution may be replevied for three months, any time before sale under same, by defendant giving to the officer an obligation (replevin hond) payable to plaintiff, with good security for the amount thereof, interest and costs. A judgment to enforce a lien cannot be replevied. No replevy allowed upon judgment against any collecting officer, attorney at law, or agent, for a delinquency or default in executing or fulfilling duties of bis office or place, or for failing to pay over money collected by him in such capacity, nor against a principal by his surety, nor upon .a debt due by obligation baying the force of a judgment, nor upon judgment for specific property, or for the property, or its value. If land sold does not bring two-thirds of appraiser's valuation, defendant and his representati"ves have ri~bt to redeem within a year from tne day of sale, by paying purchaser or his representatives original purchase money and ten per centum per annum interest. Exemptions. The following property of persons with a family resident in this Commonwealth, shall be exempt from execution, attachment, distress, or fee hill, namely: Two work beasts, or one work beast and one yoke of oxen; two plows and gear; one wagon and set of gear, or cart or dray; two axes, three hoes, one spade, one shovel; two cows and calves; beds. bedding and furniture sufficient for family use; one loom and spinning wheel and pair of cards: all the spun yarn and manufactured cloth manufactured by the family necessary for family use; carpe1ring for all family rooms in use; one table; all books not to exceed seventy-five dollars in value; two saddles and their appendages; two bridle ; six chairs; or so many as shall not exceed ten dollars in value; one cradle; all the poultry on band; ten head of sheep, not to exceed twenty-five dollars in value; all wearing apparel; sufficient provi ions, including brea<.lstutl' and animal food to sustain the family for one year; provender suitable for live stock. if there be any such stock, not to exceed seventy dollar.· in value; and if ucb provender be not on band, such other property as shall not exceed such sum in value; all washing apparatus, not to exceed fifty dollars in value; one . ewing machine, and all family portraits and picture : one cooking . tove and appendage . and other cooking utensils not to exceed in value twenty-five dollars; ninety per centum of the salary, wages, or income earned by labor, of every person earning a salary, wages. or income of seventy-five dollars or Jess per month, provided that the lien created by ser·rice of garni hment, execution, or attachment, shall only atrect ten per centum of such salary, wages, or income, earned at the time of service o! process; of the salary, wage', or income earned by labor, of very person earning a salary, wages or income in exce. · of seventy-five dollars per month, sixty- ·even and one-half dollars per month and no more shall be exempt. Tools of a mechanic, not exceeding one hundred dollars in value libraries of mini ·ter. of the Go pel, professional libraries of lawyers proresi-;ional libraries and instruments of physician. and sur1-reon , not to exceed in value five hundred dollar·. In addition to personal property there is for actual bona fide bou. ekeeper with a family resident in this Commonwealth a homestead exemption of so much land including the dwelling house and appurtenances owned by debtor as shall not exceed in value one thousand dollar·. This does not extend to a mortgage on or purch~ e money due for the land or for debts or liability existing prior to the purchase of the land, or of the ere<'tion of the improvements thereon. Per ·onal property or monev on hand or in bank to the amount of $750.00 shall be exempt frorri di. tributlon and . ale and ·ball be set apart by the appraisers or the estate of an intestate to his widow and children, or, if no widow, to his Infant children or child i-;urviving him. The appraisers shall ·tate in their appraisement the money or the articles and value of each set apart by them to the widow, or infants, separately to the articles apprai.;;ed for sale. but if the widow be pre ·ent at the time of the apprai. ement, or any one authorized by her in writing, she may make her selection out of the property apprai ·ed to the amount of. aid 750.00 and said apprai. ers hall so report. The provisions of this section shall apply to cases where the bu. band dies testate, and toe widow renounces the provisions of the will in the time prescribed by law. Holid ays . 'l'he 1st day of January, the 22d day of February, the 30th day ot May, the 4th day o! July, the first Monday in September  !-  (Labor Day), the 12th day of October (Columbus Day), the 25th day of D~cember of each year, and all days appointed by tne president of the Urute~ ~tates, or by the governor of this State, as days of fasting and thanksg1vmg are declared holidays, and shall be treated as Sunday. If any of tho. e days named as holidays shall occur on Sunday the next day thereafter shall be observed as a holiday, • Busba~d ~d Wife. By an act which took effect June 12, 1894, the followmg important changes were made in the common law of coverture which theretofore prevailed in Kentuch-y. Marriage gives to_ t-';1e husband during the life of the wife no interest in any of the wifes property. She has full power to contract and to bind herself and her property, except that she can not bind herself to answer for the debt, default, misdoing of another, except as to property set apart for that purpose by mortgage. She may sell and dispose of personal property as if unmarried, but may not sell or convey real estate unless her husband unites in the contract, or conveyance unless empowered to do so by decree of court, in case of Insanity conviction of felony, or abandonment by the husband. After the death of either hu ·band or wife the sun-ivor shall have a life estate in one-third of all the realty of which the decedent wa<; seized in fee simple during the coverture unless such right shall have been forfeited or relinquished. Such survivor bas also one-half the personalty of the decedent. left after the payment of debts. Abandonment and living in adultery by either party, or divorce works a forfeiture of these rights. Interest. The lawful rate of interest i' 6 per centum per annum, and contracts for a greater rate are void as to the excess of interest. . Ju~gmcnts. A judgment does not constitute a lien on property m this State. All judgments bear interest from their dates. (See Executions and Limitations.) Limitations. The following are the periods within which actions must be brought, the time commencing to run from the accrual o! the.cause of act.ion. Fifteen years: Actions to recover real property; actions upon Judgments and written contracts, except negotiable instruments. Seven years: Actions by senior patentees against junior parentees, who have held posse. ·ion for seven years. Five years: Actions upon verbal contracts; upon a liability created by statute; actions for trespa<;s to real or personal property or for damages for withholding same; for the specific recovery of personal property; actions upon negotiable instruments. though as to the makers of an undiscounted note it is fifteen year and as to sureties seven years: actions upon a('counts between merchants, and actions for relief from fraud or mistake. Two years: Actions upon merchant's accounts for goods sold. One year: Actions for injury to person or character and for breach of promise of marriage. J.\,lerchandise in Bulk. An Act of the 1!)20 Legislature provides that when any one who shall buy any stock of n-oods in bulk or tlxtures before he shall deliver to the vendor the purchase price or any promissory note therefor shall obtain from the vendor a verified written statement of all the creditors of the-vendor ton-ethcrwh,h their addresses and the amount of indebtedness due to each, also an aerurate inventory of the stock or fixtures to be pur,·ha. ed and making it the duty of tho vendor to furnish such statement under oath. Upon recei-ving such a. statement the purchaser shall notify. per.sonally or by registered mail, each of the creditors of said vendor a. appear on t:J:I~ list, of the proposed sale, the price to be paid therefor, the condit10ns of the sale and a copy of the statement, furnished bv the vendor. This notice hall be giyen or ent at lea..;;t ten davs before the completion of the sale. If any such purcha er fails to obtain a verified statement from the vendor or to give the notiee to the <'reditors as above or to see that the proceeds of the sale are prorated among creditors according to dignity of their claims then su<'h .ale or transfer shall be fraudulent and ,·oid and shall operate as a i;teneral assiimment ~1r th~es~ff ~~toi~i~l~e o<(f ~~Jli;~tevg~1)f i~et ~r~h1~: the fair , alue of all property so bought or sold, provided, however, such suit must be brought within four month • Notes and Bills of K"\'.change. An act relating to negotiable instruments became a law June 13, 1904. Section 1 declares that an instrument to be negotiable mu t conform to the following requirements. (1) It must be in writing and signed by the maker or drawer. (2) • Tu t contain an unconditional promise or order to pay a certain sum in money. (3) • lust be payable on demand, or at a fixed or de_tenninahle future time. (4) ~ tu t be payable to the order of a specified per.son or to bearer. (5) Where the instrument is addressed to a drawee, he must be named or otherwise indicated therein with reasonable certainty. Days of grace are abolished. The signature of any party may be made by an a~ent duly authorized in writing. Every negotiable instrument is payable at the time fixed therein; when the day of maturity falls upon ~unday, or a holiday, the instrument is payable on the next succeeding busine. day. Powers of Attorney. Powers of attorney to convey real or personal property may be acknowledged. proved and recorded in the proper office in the manner prescribed for recording conveyan('es. If the conveyance made under a power is required by law to be recorded or lodged for record to make the same vahd against creditor· and pur~ chasers, then the power must be lodged or recorded in like manner. Prote t. ·where any ne~otiable in trument has been dishonored it may be protested ror non-ac('eptance or non-payment as the case may be; but protest i .. not required, except in the ca..5e of foreign bills of exchange. It is the safer practice to prote·t in aU ('ases, because in all cases notice of dishonor is nece sary to charge parties secondai·ilY liable. Taxation. Taxes due the State by banks and tru 't companies are payable diro<'tly into the tate trea.,·ury on or before the tlr~t day or July succeeding repor by their chief officers required to be made to auditor of public account , and taxes to couutie,;, citie , towns and di tricts are paid at the time fixed by law for payment of like taxes. Will • Any person of , ound mind and over twenty-one year. of age may make a will. Wills mu t be in writing with the name o! tho te. ta.tor . ub.·crlhcd thereto either by hinll elf or by some other 1 1 0 E~rrg~ t~~t~t~lt~~e c~~~ i~K r:;ttd~~e~~i~- or tb! ~ill by the testator in the pre ence of t o witn ses, who hall subscribe their name in the pr ence of the testator. '1 be ·ill of a per ·on domiciled out of th!· State i valid as to pe onnlty, if executed according to the law of the domicile; but to be valid a to lands, it must be executed as required by the law of this State. The county court has e. elusive ol'i•.,.inal juri diction over the probate of wills.  g~t  ~~b  1i!g~  Ri~~l~~if  1~~.1~~,;r~~i;:~  BANKING AND COMMERCIAL LAWS-LOUISIANA  1891  --------~  SYNOPSIS OF  THE LAWS OF LOUISIANA RELATING TO  BANKING AND COMMERCIAL USAGES evised by Messrs. r1ERRICK & SCHWARZ, Attorneys at Law, Orleans. (See Card in Attorneys' List.)  ears the the the 'fled .• as  ong sfer 1ent hall for ver, able tan irer or r to  perthe  It  •  rded pur-  r.  ored case billS ause rilY  .L  ew  Accounts. (See Acknowledgments.) Acknowledgment of deeds executed within tbe St.ate may be before a judge, notary public, parish recorder or his deputy, in the presence of two ·witnesses. These witnesses mu t be over fourteen years of age. In other States, before a commissioner of Louisiana, or any otiicer authorized t.o t.ake depositions in the tate where he re.'-ides, but the official character of such officer must be properly verified. A Louisiana commh;sioner may certify to tbe official position of any public officer in the , tate for which he i - appointed. A deed to be authentic and to be admissible in a court of justice without other proof of signature, must be acknowledged and signed before a notary or conunissione1· of deeds. In other states any oath or acknowledgment made before a notary public, duly appointed in such state·, when certified under the hand and official seal of such notary, s~1all have the same force and efl'ect without further proof of the signature, seal and ofTicial character of such notary, as if taken or made by or before a Louisiana commissioner residing in such , tate. Act 140 of 189G. In foreign countries every deed, conveyance, mortgage, sale, etc., made or taken before any ambassador. minister, charge d'afl'aires, secretary of legation, consul-general, consul, viceconsul, or commercial agent. and every acknowledgment, atte. tation, or authentication of any of said inst,ruments, oaths, etc., made by any or said officers under their official seals and signatures shall have the full force and effect of an authentic act executed in this State. No Witne ·es necessary. Party appearing before any of said'officers need not be a resident of the place where said officer i located. Notarial copies of original when deposited in this state in a notary's office h ave full force and etfect of authentic copies of acts executed in this State. [Act 1G4 of 1898.J Actions. Commenced by petition setting forth cause of action, articulately in numbered paragraphs, signed by plaintiff or his attorney and duly sworn to. Plaintiff must give re ident security for costs or make deposit to cover same if demanded. (, ee Act 300 of 1914 regulating pleadings and practice.) After filing of petition, defendant is cited to appear ten days after receipt of citation in District Courts and Justice of Peace courts outside of city of New Orleans. In city courts of New Orleans, defendant must appear three day after receipt either day of service nor day on whlcb answer must of citation. be filed is included in delay. If defendant fails to appear, judgment by default is rendered against him. In district court such judgment is confirmed two judicial days after preliminary entry of default. In Justice of Peace courts judgment of default is confirmed the same day as that on which default is entered . Administration of Estates by executors, administrators, or tutors who are ex-officio administrators-also by dative executorswhere there is no heir present or agent of heir, public administrator takes charge. A non-resident executor of a will must in all cases give bond; a resident does not unless required by creditors. Administrators and executors of other states must open succes,,.ion of deceased in the com-ts of this tate, and be recognized at sucb here before they can sue or be suecl or transfer property in this tate. Stock in local corporations may ho transferred by non-resident, executors, etc., Without the necessity of securing an order from the local court, but no transfer can be made unt,il the Inheritance tax is adjusted. No debts can be paid by administrator without authorization of probate court. The administrator or executor presents to the court an account or tableau of distribution setting forth the payments and disbursements he proposes to make. Partie · interested are notified by publication to show cau e within ten days why the account so ti.led should not be approved. Any part.y intere.-ted may oppose the account by opposition in writing a~ any time within the said te~ days In ab ence of opposition account 1s homologated upon production of sat,isfactory evidence by administrator '?r e. ecutor, and the funds ordered distributed ill accordance therewith. Olaims against estates should be presented in ,niting to the administrator or executor. Should he approve the sa~e i_n writing, no further action is required except to see that the claim 1s placed upon his account when med. Hhould be decline to recognize the claim, <:reditor may file suit against succession represe!]t!ltive _and obtain a ~udgment t.o be paicl in ordinary_ course of ad!Jl1m_strat10n. If there is no danger of prescription, creditor may await fllmg of account and then oppose same of claim, not included. Amda,·its. (See Acknowledgments.) Alien.. There is no law excluding them from buying or holding lands. '.rhey are only excluded from voting. Arbitration. Agreements to submit t~ arhit'.:i.tion. recogni?'.ed_ by law. Arbitrators nnvt be sworn. otherwise dec:1s1or} is not bmdu~g. State board of arbitration of labor trouhle established. [Act 139 of 1894.J Arrest for debt may be made on affidavit that the debt is really due, and that petitioner verily believes tha_t de_bt(?r l · D;b'?ut to remove f1•om the State permanently, without leavmg m 1t. ul,lc1ent_pr~perty to satisfy his demand; and that he does not take !ns oath with mtention of ve ing debtor, but only in order to secm:e _Ins demand. Dcb~or may be discharged by disproving farts; by ~n:mg bond: by ruakmg surrender, by delh·ering to :sheriff prop_erty sufl1cient to, at1 ·fy cleman_d. Arrest of the debtor only secures Jus pre. ence to _ans\\ er the . mt; he cannot be held for the payment of the de!Jt. ::\Imors, mterd1cted person and women not subject to arrest for debt. As. ignn1ent and In olvency. State insolvent laws superseded by Tational 13ankTuptcy act. Attachment. Writs of attachment i. ue on application of creditor, under oath, when the _deht?r resides out of the State; ,\h1;11 he conceals himself to avoid bemg cited; when ~e ha. m?rtgaged, 11:· s1g11ecl d1:po.·e of h1l> propor disposed of, or is al>l>Ut to mortgage, a...;s1gn, e1:ty, righ1,s, or credits, or i;'?me part thereof. with intent to defraud his creditors or give an unfair preference t,o ?me of them.: and when he has converted, or is al~out to convert .. h1.· property mto mone_y or evidences of deht with mtent to place 1t b yond the reach of his credlto,s or if debt not due. is about to remoYe his property out of the State. Creditor must furnish bond equal to the amount claimed to be due, with at least one solvent surety, residing within the jurisdiction of the court, conditioned for payment to any party Injured by issuance of writ of all damages u ·tained by him in case it is decided that the attachment was wrongfully obtained. (Act No. 7, 1888.) Bond for $250 is sufficient if debtor re ·ides outside of Federal Reserve Bank of St. Louis  or  state but bond may be increased to amount of claim upon order of court at demand of debtor. Garnishment may be had as an accessory either to a writ of attachment or fleri facias. Attachment may now is ue for an offense, quasi offense or tort if defendant is non-resident (Act 215 of 1920). Banks. 13anking corporations organized under banking laws adopted in 1855, amended in 188 , in 1892, and in 1902. Savings deposit, and trust companies provided for by Act 150 of vear 1888° amended by Act 95 of 1892, which is now amended by Act 189 of 1902_. The nu~ber of persons organizing must be five or more. No special act of mcorporation can be passed. , By Act 189 of 1902 the general banking act of 1855 and the amendatory acts of 1888 and of 1892 are amended as follows: 1. Period of time must be fixed in act not to exceed ninety-nine year . 2. Banks can not bolo real estate for longer time than five year , except such as necessary for the transaction of their busine s, or except that held as agent or trustee. 3. All managers and directors shall be citizens of Louisiana. 4. Safe deposits and trust banks without power to issue bank notes may J?e orga_nized under this law with a capital of $50,000 or more: of which capital at least $10,000 shall he paid up before commencing busine. s. In incorporated towns with less than 20,000 inhabitants must have cash capital of not less than $30,000, which must be paid up before ~an commenc!=) business. It may be made a receiver, trustee, assignee or syndic, and execute trusts of every description. Money or other valuables deposited by married women or minors may be drawn out without the authority of their husbands or tutors. Under Act 45 o! 1902, }?anks organized to do a savings, safe deposit and trust bankmg busmess must be composed of more than five persons, may be organized for not longer than ninety-nine years may not. hold real estate for longer period than ten years, except sue~ as ~s held as agent or trustee, or necessary for transaction of therr busmcss; may accept and execute trusts or agencies of all descrip~ions, may be. appoin~ed by any per. on or by court executor, administrator, syndic, receiver, curator, tutor, trustee or assignee. Capital stock considered as security for faithful performance of duty though court may require other security, and may require the state examiner of banks to investigate the affairs and management of the bank. Such banks can not issue notes and must have a capital not less than 100,000, which must be paid up in cash. ( ee Act 121 of 1910, amending Act 45 of 1902 as to capital required in cities of less than 30,000.) (See als.o Act 170 of 1902, and amendment thereof, Act 140 of 1906 and amendment thereof. Act 152 of 1910 and amendment thereof. Act 96 of 1912.) Act 238 of 1910, amending Act 45 of 1902, pro,;des for branches. Act 112 of 1910 creates a State Banking Department having supervi ion over all state banks. Amended by Act 48 of 1912. Chattel Mortgages. A provided for by Act 198 of 1908, any kind of movable property may be mortgaged for debts, for money loaned, future advances or to guarnntee contractural obligations. The act of mortgage must be pa sed before a Notary Public and two witnesses and must be recorded in Parish where property is situated and Parish where mortgagor resides in order to afl'ect third persons without notice. Chattel so mortgaged cannot be transferred from one parish of the State into another without written consent of mortgagee. Collaterals must be delivered to be effectual. Act 9 of 1914 makes it a felony for a customer of bank to wrongfully dispose of collateral security pledged to bank. Uniform Bills of Lading law obtains. (Act 94 of 1912.) Conditional Salo. Act 119 of 1918 makes lawful a conditional sale of tank cars providing for retaking of car by conditional vendor without right of redemption being given to vendee, all payments of such date of retaking being forfeited. Conveyances. All agreements affecting real property must be in writing, and transfers and mortgages, etc., must be recorded in the place where the property is situated to affect the rights of third  g:ro~~~  nR::tp~htc~~dtti~~!;eE~~v;lt:~g~!t~~;s~t b t ; : e:;d~~ and vendee sign, though signature of vendee is not essential, as any act of acceptance will answer. The notary in Parish of Orleans preserves the originals of deeds pa.ssed before him and certiOed copies given by him are received as evidence in the courts. Every notarial deed should contain (1) date of act and place where it was pa.<;sed, (2) names and surnames and qualities of contraeting parties, (3) description of the property, etc., (4) price of transfer and terms and conditions. (5) The marital status, of all parties must be given. When a married woman executes a deed she must be authorized by her husband. The husband acts alone in the sale of community property; the signature of the wife being unnecessary. Corporations. Any number of persons, exceeding six, may form themselves into corporations for literary, scientific, religious, and charitable purposes; for works of pu!Jlic improvement, and generally all works of public utility and advantage; and any number of persons, not less than three, may form them.selves into a corporation for the purpose of carrying on, mining, or manufacturing business except distilling or manufacturing intoxicating liquors, with a capitai not less than $5,000 or more than $1,000,000. Any number of persons, not less than three, may form themselves into a. corporation on complying with the general corporation laws, for the purpose of carrying on any lawful bu iness or enterpri e not otherwise specially provided for, except stock-jobbing. Fifty per cent of capital stock must be subscrihed before filing articles of incorporation and 50 per cent of all stock subscribed must he paid in before corporation engages in business and the remainder in twelve months under penalty of dissolution. The legislature can not pass a special act conferring corporate powers. Corporation committing a trespass or damage may be sued at place where it occurred. (Act 22 of 1894.) All corporations hereafter organized must have their charters, etc., recorded in the office of the secretary of st,ate. (Act 59 to 1898.) (See act 154 of 1902 for formation of corporations for works of public improvement.) Act 120 of 1902 provides for organization, etc., of local and foreign building ancl loan or homestead associations. Three or more per. ons may form a corporation to carry on any business specifled in charter that would he lawful for any individual to carry on. :\Tay carry on any named business or different branches of lmsfoess, whether related or not. l\Iust have capital of not les than . 3,000. ( \ct 78 of 1904). No corporation can declare dividends out of its L·apital stock, under penalty of forf iture of its charter. Meetings uf corporations must be held at. domicile (Act 63 of 191'l). T<'orei~n Corporations may be licen. ed and taxed by a mode difl'eren t from that provided for borne corporations. No domestic or foreign corporations shall do any business in tWs State without having one or more known place of business and an authorized agent or a_gents in the tate u~on whom p_rocess ma;v _be served. All corporations (except mercantile corporations) dom1c1led out of the • tate and flling with tbe secretary of doing business _in the State in d_efault stat,e a declai:atwn of tpe place of its locality or domicile together with the name or its agent m the State upon whom service of process may t1£e~i~tt• ir!~t~en sf~~e~?on any caw;e of action in any parish where Foreign corporations must file in office of ecretary of state a written declar!ltion setting forth and cont.aining the place or locality of its domicile, the places in the State where it is doing business, and the  or Federal Reserve Bank of St. Louis  1892  BANKING AND COMMERCIAL LAWS-LOUISIANA  name of its agent or other officer in thi. State upon whom process may be sened. (.Act 54 of 1904 amended b:,· Act 284 of Hl08. Act 284 of 1008 amended by Act 243 of 1912. ee Act 194 of 1912.) Act 267 of 191-1 relating to corporations repealed several previous acts and undertakes to embody in one act all essential details with respect to the organization, power and duties of tradin~ corporations, forei~ and domestic. (As to nontrading corporations see Act 259 of 1914.) Courts. Terms and Jurisdiction. In pari hes other than Orleans; Just-ices' courts-exclusiYe jurisdiction up to $50, and concurrent with the district courts, between 50 and 100. 2. District courtsconcw-rent with justices' courts, between 50 and $100; exclusive for all civil matter over $100, and in all probate matters and appellate jurisdiction in all civil matters in justices' court . In Orleans parish; 1. City courts-exclusive jurisdiction up to $100. 2. Civil district courts-exclusive over $100. Justices and city courts open at all times. In parishes other than Orleans, district courts shall hold continuous session during ten months of tbe year. In parish of Orleans, civil district court sits from October 15th to end of June, but shall remain open on all legal days during the whole year for granting interlocutory orders, issuing writs, trials of rules to quash same, trJing proceeclings instituter!, or on appeal therein by a landlord for the possession of lea ed property, partition proceeding , and for such special probate and insolvency busine s, as the court en bano may by rule determine. On all amounts up to $2,000, inclusive, an appeal may be taken to the court of appeals, from tho city and district courts respectively, and on all amounts over $2,000, to the state supreme court. An appeal lies on both law and facts. Appeals from the city courts shall be tried de novo. Days of Grace. Abolished. Depositions. To take testimony of witne residing out of parish or State it is necessary to file motion duly sworn to showing non-residence and materiality of evidence. Written interrogatorie are prepared and served on opposite party, or hi counsel, who has thre~ days in which to cross. Commission then issues, directed to some proper officer, with interrogatories and cross interrogatories annexei, who must cause witness to appear before him to answer under oath the direct and the cross interrogatories. He hould reduce answer to writing, read same to witness and cause witne.. to sign same. The officer then prepares a process verbal of the whole, attaches it to the commission, interrogatories, etc., and should return same to the court issuing the commission within the time fixed therein for taking the deposition. The deposition of a fugitive from justice is not admissible in evidence. (Also see Act 176 of 1910.) Descent. If one dies leaving no descendants, but a father and mother and a brother and sister, or de cendants of these last, tbe succession is divided into two equal parts, one goes to father and mother, the other to brothers and isters or their descendants. If either father or mother of deceased dies before him, the portion which would have been inherited by such deceased parent foes to the. brothers and sisters of the deceased, or their descendants. If deceased left neither descendants nor brothers nor sisters, nor descendants from them, nor father nor mother, but only other ascendants, they inherit to the exclusion of all collaterals. If ascendants in paternal and maternal lines are all of the same degree, the estate is divided into two parts, one goes to ascendants on the paternal and the other to ascendants on the maternal side. If there is in the nearest degree but one ascendant in the two lines such a,;cendant excludes all other ascendants of a more remote degree. If one dies leaving no descendants, and his father and mother survive, his brothers and si ·ter , or their descendants, take half of bis estate. If the father or mother only survive, brothers and sisters, or their descendants, take threefourths. If one dies leaving no descendants nor father nor mother, his brothers and sisters, or their descendants. take all the e tate. The partition of the half, the three-fourth , or the whole of a succession falling to brothers and sisters as above set forth, is made equal if they are of the ame marriage, if of different marriages tbe uccession is equally divided between the paternal and maternal line · of the clecea ed. If deceased died without descendants, leaving neither brothers nor sisters, nor descendants from them, nor mother nor father, nor ascendants in the paternal or maternal lines, hi succe ion passes to his other collateral relations, the one nearest in degree excluding the others. When the deceased ha left, neither lawful descendants nor lawful ascendant , nor collateral relations. the law calls to bi inheritance either the urvivin~ husband or wife, or his or her natural children, 01· the tate. If natural mother left no lawful children or descendants, her natural children, acknowledged by her, inherit to tlle exclusion of her fatber and mother and other ascendants or collaterals of lawful kindred. atural children inherit from their natural father, who has acknowledged them, when he bas left no descendants nor ascendants, nor collateral relations, nor surviving wife, and to the exclusion only of the tate. Donations inter vh·os or mortis cau a cannot exceed two-thirds of the property of the disposer if he leaves at his decease a legitimate child, one-half if he leaves two children, and one-third if he leaves three or more. An inheritance tax is levied upon all inheritances, legacies and donations, provided no direct inheritance or donaUon to an ascendant or desceudant below $10,000 shall be taxed. Tax is 2 per cent on direct inheritances and donations to ascendants or descendants or urviving wife or husband and 5 per cent for collateral inheritances and donations to collaterals or strangers. Beque.<;t to educational, religious or charitable institutions are exempt. Inheritance tax not due when oroperty inherited, bequeathed or donated shall have borne its ju:st proportion of taxes prior to time of such donation, bequest, or inheritance. IL ('. C. 915 amended to read "In all cases when either husband or wife shall die leaving no descendants, nor ascendants and without having dispo ed by last will and testament of his or her hare in tho community property, such undisposed of. hare shall be inherited by the survivor in full ownership." (Act 57 of 1910.) Divorce. ( ee eparation from Bed and Board.) Dower. ( ee Married Women.) Employer· Liability Act. There i a general Employer Liability Act in the tate setting forth special compensation for various injuries. Execution. Property taken under a writ of fleri facias must be advertised and appraised, and can not be sold for less than two-thirds of tbe apprah,ed value, unta it has been re-advertised. Advertisement of movables three times in ten days-of real estate once a week for thirty days. If two-thirds of appraised value is not bid, property mu t be re-advertised for fifteen days, and old on a credit for twelve months for whatever it will bring. There is no redemption of property sold under execution or mortgage. No tay of execution is given except on appeal, and execution may is. ue at any time after the delay for appealing suspensively has expired. Act 113 of 1006 authorizes sheriffs and con tables to put pw·cbaser of seized property in po session. Exemption . To head of family, real e.·tate is owned and occupied as a re ·idence, together with certain furniture, tock. implements, 111 ovisions, etc.; the property not to exceed 2,000, and pro\'idecl the I,Hson claiming the benefit of the homestead e. ecute a written declarati< n of home toad (Acts 1 · 0, No. 114), and no exemption if wife has separate property worth over $2,000. No registry required in p:-rishes other than Orleans. (Operative Jan. 1, 1890.) Widow or minor children surviving i-s entitled to $1,000 out of deceased bu~-  banrl 's estate, if in necessitous circumstances, by preference over even a fir t-mortgage creditor. heriff or constable can not . eize linen and clothes of debtor or hi wife, nor his bed. nor tbo:·e of his family, nor his arms and military accoutrements. nor tools and instruments and books, sewing machine necessary for the exerci -e of his or her calling, trade, or profe sion, by which be makes a living, the right of personal servitude, of use and habitation, of usufruct to the estate of a minor child, the income of total property, money due for salary of an officer. wages or recompense for personal service (laborers' wages) cooking stove. plates, et,c., family portraits, musical instruments played on by family. (Acts 1876, To. 79.) Fraud vitiates all contracts. Action barred by one year imitation to annual sale on account of fraud. For fraud on part of purchasers of goods see Act 114 of 1912 amending Act 94 of 1 96. Garnishment. Wages earned out of this State and payable out of this State, shall be exempt from attachment or garnishment in all cases where cause of action arose out of this State. and it shall be the duty of garnishees in such cases to plead such exemptions unle s the defendant is actually served with process. (Act 165 of 1904.) ( ee Attachment.) Holidays. Sundays, January 1 t. January th, February 22d. Good Friday, June 3rd, to be known as Confederate Memorial Day, July 4th, the first .Monday of September. to be known as Labor Day, October 12th, Chri topher Columbus Day, November 1st.. Thanksgiving Day, as designated by the President of the United States, December 25th, and all general election days, whether Presidential. Congr~ssional, State. municipal or parochial, in the localities where said elections are held; and in the Pari hes of Orleans. St. Bernard, Jefferson, St. Charles, and St. John the Baptist, Mardi Gra.. and also in cities and towns when the population shall exceed 10,000, and in the Parishes of St. Bernard. Jefferson, t. Charle . and t. John the Baptist every Saturday from twelve o'clock noon until twelve o'clock midnight, to be known a a half holiday; and in all cities and towns whose population exceed 10,000, whenever January 1st, January 8th, February 22d, June 3d, July 4th, November 1st, December 25th shall fall on a Sunday the succeeding day shall be a legal holiday. Husband and Wife. ( ee Married Women.) Interest. Legal rate is 5 per cent, but per cent may be agreed upon in writing. If higher than per cent is charged, it is reducible to 8 per cent. If paid, it may be sued for and recovered within two years. Judgments recorded in the office of tbe parish recorder become mortgages from date of record upon all real estate of the debtor, and may be thus recorded in any pari b where debtor owns real estate. They are valid for ten year , when they must be renewed. Lien or Privileges. The following have special privileges. viz.: 1. Lessor's privilege. 2. Privilege of the creditor on the thing pledged. 3. Privilege of a depo itor on the price of a thing deposited. 4. Privilege for expenses incurred in preserving thing. 5. Privilege of the vendor of movable effects so long as they are in the po. session of the vendee. 6. Privilege of the innkepeer on the effects of the traveler. Privileges resting upon immovable are as follows. viz.: 1. The vendor on tbe estate by him old, for the payment of the price or so much of it as is unpaid, whether it was sold on or without a credit. 2. Architects, undertakers, bricklayers. painters, master builders. contractor::;, sulH:ontractor ·, journeymen, laborers, cart-  1  ~~~irfu11gd h~t~:~. b~~fcf~ts, eg;P~;.:Iiilnoth~1:5~~~;~g, 3:eb¥:~~~g,v~~ have supplied the owner or other person employed by the owner, his agent, or sub-contractor. with materials of any kind for the construction or repair of an edifice or other work. when such materials have been used in the erection or repair of such houses or other works. ( rt. 3252.) Privilege on crop to be recorded (Act of 1 '90.) The vendor of an agricultural product of the United tates bas a five days' privilege for unpaid purchase price in preference to all others. Privilege granted employe in saw mills. etc. ( ct 145 of 1 . amended by Act 52 of 1910 and Act 23 of 1912. Widow and children left in nece:· itous circumstances are entitled to an amount in husband's or father's succession sufficient to make 1,000 inclusive of property already possessed by them. This privilege primes all others except vendor's privilege, that for expenses of selling property and conYentional mortga<Tes, repre ·enting money actually loaned for not le. s than one year as not exceeding 6 per cent for intere t, discount and charges. Limitations to Suits. Pre:;cription - Accounts stated and acknowledged in writing are prescribed only by ten years. (Act of 188 .) Per onal actions one year. Action for torts of all kinds; for injury to or non-delivery of merchandise shipped on vessels; for fees of ju:stice. notary, or constable; for innkeepers' account ; for accounts of retailers of liquors: for wage of laborers or sailors; for freight; and for tuition by mrmth. Tb1·ee years: Action for arrearage.- of rent charges. or hire of movables or immovables 01· money lent; for alaries of oYer ·eers. clerks. or tuition by quarter or year; for fees of physicians apothecaries, attorneys, herills, clerks, and recorden;: on open accounts of merchants, whether wholesale or retail, and others. Four years: Actions by minors their tutors. counting four years fl'om majority. FiYe years: Action on bills of exchan~e or promissory note . counting from maturity, and for nullity of contracts or wills: for recision of partitions; to set a ide publi~ and judkial sales for informalitie.. Ten )"ears: All other actions: the right to a usufruct or ervitude. all judgments. whether rendered within or without tho 'tate, but judgments may be re\'ived before lapse of ten years. and are then good for ten years from date of revival. Prescrivtion of ten and thirty years now runs against min rs, interdict.· and married women (Act 161 of 1920). llushand and wife can not proscribe against each other. Limited Partner hip . (. ee Partner. hip.) .Married \'\-"omen. Act 94 of the Legi ·Iath'e es ·ion of 1916 provide - that a married woman of this , tate shall be competent to contract and bind and obligate herself personally and with reference to her separate and pa1·apb rnal property, and to appear in 'ourt and to ue and be sued to the ame extent and in tl.e ·ame manner as though she were a gemme ole; 11rovided that nothing herein contained shall be deemed or con:strued to affect in any way the statutes of this State, establishing and regulating the matrimonial community of acquet and gains, and prescribing what hall be deemed community and what be deemed separate property of the other spouse. Revenues of all separate property admini tered by the hu 'band. and all property acquired by either bw band or" ife after man-ia~e. ex<'cpt by donation or inheritance constitute part of community, unle.bought with the separate means of either and a a separate acquisition. 'IYife has no dower in her hu band's real estate. The wife can have no claim upon the property of the husband to the prejudice of third parties, wile.· recorded. Where one of tho :spouses is agent for the other, he or he may be witne,,,·s for the other in a matter connected with that transaction. otherwi e husband or "ife cannot te: tify in favor or again t the other even though both litigants consent. After di· ·olution of marriage by death or divorce the ,;urvi\'or is entitled to one half of all property remaining aftor payment of debts, acquired during marriaF;e, and in case of death. the usufruct of the other half, unle this half is dispo ·ed of by will of deceased spou:,;e. Wife cannot be a witness to husband's will. ( 'ee ''Liens and Privilege .")  BANKING AND COMMERCIAL LAWS-MAINE  render annual accounts. and are allowed 2 ½ per cent on the inventory as commi,;sions. Attorneys aL law arc appointed to represent ab:sent heirs. Properties acquired during marriage are presumed to be community propert,y, and surviving spouse is owner of one-half. ·when either husband or wife dies , leaving no ascendants or descendants, and without haYing disposed by will of his or her share in the community, the survivor holds such share in usufruct during bis or her natural life, (Pee Successions.) Protest. (See Negotiable Instruments.) Separation from Bed and Board. ;.\Jay be claimed reciprocally for: 1. Adultery. 2. ·w hen spouse condemned to infamous puni hment. 3. Habitual intemperance. exce.·ses, cruel treatment, or outrages, when ·uch renders living together in upportable. 4. Public defamation of one spouse by the other. 5. Abandonment. 6. Attempt of one spouse against life of other. 7. \\'hen one spouse charged with infamous oil:en e actually !lee: from justice. Divorce may now be obtained if both parties ha.Ye li,·cd separately for seven yea1·s. Judgment of Divorce. "A vinculo matrimonii" can be obtained immediately for first two causes. !<'or other causes it is nece. sary first to obtain judgment of separation "a men ·a et thoro." After judgment of separation from bed and board, if there bas been no reconciliation, party in whose favor judgment is rendered can obtain final divorce one year after finality of' judgment of separation. Party against whom judgment i'> rendered must wait two years. \\' hen marriage is celebrated outside of state parties cannot obtain divorce in state on grounds occurring outside of state. Taxes. Taxes on real estate cam10t be enforced until the expiration of the year for which they are levied and after legal notil'es to delinquent and advertisement. Lands sold for taxes are redeemable within one year, by the owner, his agent, or heirs, or any creditor, on payment of the purchase money, with 20 per cent intere t and costs, and all subsequent taxes paid. Lands sold for taxes due prior to 1880 are not redeemable. State taxes are 7 mills on actual value, parish taxes are exceeding 10 mills. City of cw Orleans taxes are 23 ½ mills on 90 per cent of actual value. Delinquent staLe taxes bear interest at 2 per cent a month, cit>, taxes, 10 per cent a year. ,vrns. There are four dillerent kinds of wills, viz.: The olographic, nuncupative by public act, nuncupative by private act, and mystic (or sealed) will. The olographic ·will must be wholly written, dated. and signed by the testator, and may be made within or without the tatc. Nuncupative will by public act as written by a notary in presence of three witnesses, over the age of 16 years complete, not insane, deaf, duinb 0i' blind, residing in the place where will is executed, or five witnesses not residents of the place, at the dictation of the testator. Nuncupative will by private act and mystic wills are subject to many formalities which may be best obtained by reference to Civil Code Arts, 15 1-1587 both inclusive. All persons of sound mind over sixteen years of age may dispose of their property by will. Wills executed without the state given force and effect provided same be in writing and sub:scribed by te tator and follows form of place where executed, or of testator's domicile. (See act 176 of 1912.)  l\fonopolies or Trusts are regulated and ri~hts are giYen against them similar to those exist-in~ unde1· Federal Law. The state authorities may take action and the individual may recover threefold damages sustained. See House Bills Nos. 7 and 8, extra sos ion 1915, approved June 10, 1915. Mortgages can be foreclosed at any time after maturity of the debt, by instituting a regular suit and obtaining judgment thereon, or if the act imports a confession of judgment in favor of the holder, he can apply to the cout"\, for an order directing the sheriff to seize and sell the property. All mortgages must be recorded be fore they can have any effect as against third parties. Trust deeds are not legal, and chattel mortgages are unknown to the laws of Louisiana except as stated under heading · 'chattel mortgages." There is no redemption of property old under mortgage. All tacit mortgage have been abolished since 1870. In making sale or giYing a mortgage upon his property, it is not nece sary for the husband to obtain the signature of the wife. A mortgage resulting from recording a judgment can not have that effect until after adjournment of court. [Act 1 8 .) Lessees obligated to erect buildings, etc., upon leased property, can mortgage the lease, together with the improvements, et,c. (Act 21 of 1908.) Leases and contracts to explore for oil, gas and minerals may be mortgaged (Act 232 of 1910) . Negotiable Instruments. "Negotiable Instrument .\ct" ( yo.  giil~fa~~ !bt~~~nb~d~ri~Ja;:5tre~;!c~;v~~~ ~g~~!~l~ ~~¥!i~~~i~!~ ary, are abolished. Instruments are payable to bearer if made payable to the order of a fictitious or non-existing person. when such fact is known to the one making it so payable; when name of payee does not purport to be name of any per on; or when the only or la t indorsement is in blank. ·w hen there is a discrepancy bet-ween the words and the figures of an instrument, the sum denoted by the words is the sum payable. Two or more persons signing instrument contain0  ?r~;;~~~e~l Fi~~:;!~E;~~. ~t~~~1IJntosebi~Ju;1~rt~);~;r11i liable, but is necessary to charge drawer or indorser. Notice of dis-  honor must be given to drawer and indorser whe,n instrument has been dishonored by non-acceptance or non-paymerlt, otherwi. e they  ~?1u~cti~~tt!~c1s tr~~~:~~ e:s~itfgfe tire~a~!e~e[;!~e~P. !~~~~.~~~! is not liable till he accepts same. Holder may require acceptance to be written on bill, and if refused, may treat the bill as dishonored. An acceptance written on paper other than a bill, and an unconditional written promise to accept a bill before it is drawn, binds the acceptor only in favor of a purchaser for value on faith thereof. Drawee has twenty-four hours to decide whether he will accept or not. A drawee who destroys a bill presented to him for acceptance, or who fails to return the bill within twenty-four hours, i deemed to have accepted the same. Where a signature is so placed upon a negotiable instrument that it i not clear in what capacity the person making same intended to sign, he is deemed an indorser. Foreign bills must be protested for non-acceptance or non-payment. ·w here a bill does not appear on its face to be a foreign bill, protest thereof in case of dishonor is unnecessary. A check must be pre. ented for payment within a reasonable time or drawer will be di charged from any loss caused by delay. Bank is not liable to holder of a check until it accepts or certifies same. \\'hen the last day to do an act required or permitted to be done under the act falls on a unday or legal holiday, it may be done on the next succeeding ecular or bu. iness day. When day of maturity falls on a . unday or a holiday, the instrument is payable on next succeeding bu iness day. Instruments falling due on Saturday are to be presented for payment on next succeeding business day, except that instruments payable on demand may, at option of holder, be presented for payment before 12 o'clock noon on Saturday when that entire day is not a holiday. If the day or days next succeeding the protest for non-acceptance or non-payment shall be days of pnhlic rest or legal holidays or legal half holidays, then the day next following shall be computed as the fir t day after the protest. "Service of citation shall not be waived, nor judgment confessed by any document under private signature executed prior to the maturity of tbc obligation sued on." [Article 91, Constitution 1898.) Acceptance must be in writ,ing and signed by drawee. It must not express that drawee will perform his promises by any other means than payment of money. (Act 189 of 190 .) Partnership, Limited and Special. Stip_ulations that 0~10 sh?,11 participate in the profits and shall not contribute to _Jos. es IS_ '"'.01d, both as regards partners and third persons.. Partnerships ~re d1v1ded as to their object into commercial and ordmary partnerships. Commercial partnership are such as are formed: 1. For the purchase or any personal property, and the sale thereof «:ither in t~e same state or changed by manufacture. 2. For buymg or ..; cllm~ 3:ny Personal property whatever, as factors or brokers. 3. l ~r carrymg personal property for hire, in ships or ot}?er v~,-.-els .. Ordmary partnerships are all such as are not commercial. . rhei:c 1. also a species 0! partnership which may be incorporat,ed w1~h either of the other kmds, called partnership in commcndam. It 1s fo_rmed by contract, by which one person or partnership agrees to furmsh another person or partnership a certain amount, eithE:r in propcrt~ o_r rnon<:Y- to 1?e ei:nployed by the person or partnership. t_o whom 1t _1s_ furni. heel, !D bis or their own name or fil"m. on cond1t1on, of 1·ec n mg a share_ JD t_he profits, in the proportion determined by tlte co!ltra~t, and of bemg hable to losses and ex1)enscs to the amount furmshel, ~ud no more. Partner in commendam cannot bind other p~rtncrs by his act. Partner hip in commendam must be made in writrng:; n:iu:t expre"- am0l!,nt furnished or agreed to be furnished; the propor~10n of profits which partner is to receive and expense and losses he 1: to bear. m_ust tate whether it be receiv d in goods or money, etc.: must ~e s1~ne9- ~Y P_arties in presence of at least ono witness and recorded. m full "1thin six days in mortgage ofllce. If branch house · are cstabhshed the contract must be recorded in parish where branch - ar~ loc-ated. If Partner in commendam allow bis name to be_ usecl. _or if he take any l)art in the bu iness of the partnership. he w1l! be h~ble a a general Partner. Ordinary part,ncrs are not b<_mnd _JU sohdo _for d~bts of Partnership and 110 one of them can bmd bis p3:rt,ncrs unless they !lave given him power to do so; each is bound/or his s~iare of the debt m proportion to the number of partners. C om?"1erc1al partners are each liable for the entire debts of the partnership. Powers of Attorney. l\1ay be written or oral. l\Iay be_ eith~r general for all affairs or special for one afl'.ai_r onl?- One conceived m general terms confers only power of adnum ·trat1on: to sell mortgage or do any other act of ownership, the power be express and special. Probate Law. There is no special probate ~ourt. District courts are vested with probate jurisdiction. . , uccess10ns are opened 1;1pon petition of intercst,cd persons in t,he pa~1sh wb_ere the dece~ed res1d~d. if he had a domicile or fixed place of re~1dence m the ;itate; m tqe_ parish where he left his landed propcrt.y, 1f he had neither don11c1lc nor Place of residence in the state; or ~n the parish in whi_ch it aPI?ears from the inventory that hi_ prin~ipal prop~rty was sit uat_ed, 1_f he left property in several panshes; m the pan h where he die~. 1f 11:e had no certain domjcile nor any fixed property. If prcsumpt1Ye hell' does not bc~in legal proceeding to settle succ~ sion within ten day: after death of "de cujus," ct·~ditors ~ay de11:and that h ·t:i.te whether be accepts or reje<'.ts succession, or if no heirs appear, that a c·urator ad hoc be appointed to set.tie the estate. The juda;e appoints an admini. trator when deceased leaves no will. .\dmini ·trators mu t  120 Federal Reserve Bank of St. Louis  1893  SYNOPSIS OF 1  -·I i  ,'  I  i lI I  1i  ,,./  I  i' 11  ,·I I  THE LAWS OF MAINE  I  RELATI YG TO  :1  If  BANKING AND COMMERCIAL USAGES Revised by SYDNEY B. LARRABEE, Attorney at Law, Portland. (See Ca.rd in Attorneys' List.)  I I  I I'  i  I  ,;  1  Acknowledgments. ( ee Deeds.) Actions. At law begun by writ, under common law practice, but containing declaration. Suits in equity are begun by bill of complaint, flied with clerk of court and subpoona issued by him, or may be inserted in writ of attachment and served by copy of bill and writ. On motion non-resident plaintiffs required to give secm-ity for costs. A<lministration of Estate. ( ee Estates of Deceased Persons.) . A~da,its. Affidavits may be made before a notary public or Just1c of the peace. In some comt matt.ors authority of magistrate mu ·t be proved by certificate of clerk of a court of record. Aliens. Aliens may bold and convey real e. tate and nersonal property. \\'ill of alien may be proved and allowed in this StatE> '''idow of a citizen of United tates who was an alien when she married him has right of descent in his estate (but see Married Women),  I  I:I •  I (L:  I',  ;- : j  l Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-MAINE  1894  Arbitration. Judge of probate court may authorize executors or administrators to adjust by arbitration claims for or against the estates represented by them. All controversies which may be the subject of personal action may be submitted, by the parties, to referees for arbitration. Majority of referees may make report to Supreme or Superior Courts. Arrest. (See Executions.) In actions ex delicto, on mesne process and execution, as of course without affidavit or order; in actions ex contractu, on mesne process, upon affidavit of the creditor, his agent, or attorney, that he bas reason to believe and does believe that the debtor is about to depart and reside beyond the limits of the St.ate and carry with him means of his own more than are necessary for his immediate support, and that at least $10 is due on the claim; on execution, only after supplementary proceedings and fraud proven, but if contract judgment or action existing March 17, 1887, arrest on execution. Debtors arrested on mesne process or execution may dii:;close, give up property not exempt from attachment and be discharged from arrest, or may give bond and disclose according to its terms. No arrest, i'n actions ex contractu for less than $10, and none of married women in ci vii actions. Assl1,!Dmcnts. Common law assignments for the benefit of credit.ors may be made, and after four months will be good a1sainst bankruptcy proceedings. Assignments of wages must be recorded in town clerk's office. Attachment. All property not, exempt attachable on mesne process as of course without affidavit; security for costs by indorser of writ only if creditor is non-resident; lien by attachments in the order in which they are made continue for thirty days after judgment (extended where execution is delayed, appeal from taxation of costs is taken, or decision of law court certified down in vacation), within which time levy may be made. Personal property may be appraised and sold on mesne process to avoid expense, depreciation or loss, on request of either party and proceeds held by officer in lieu of the  1  Creditors' Bills. Bill in equity may be maintained to reach property of debtor which cannot be reached by pro<'e s at. law, and IS n<?t exempt from attachment; also property convoyed in fraud of creditors and property secreted so that it is not reple" !able. Days of Grace. (See Negotiable Instruments.) D~eds. Any oirner of real extate baying ri.1sht of entry may convey 1t by deed. No estate than tenancy-at-will can he created except in writing. Deeds must be acknowledged by a grantor or one of them or by attorney in fact, executing the same before a justice of the peace, notary public having a seal, or ,voman qualified to take acknowledgments; outi:iide the tate, and in the United Rtates, before a. clerk of a court of _record havlnf; a seal, notary public, or commisswn~r of deeds for this ~t~te, and ma fo~eign country before a notary public, or a consul or muuster of the Umted States. but if ma~istrate acting outside of State has no official eal. his authoritv and the genuineness of his si!?llature must be authenticated by the clerk of a rourt of record in county where he resides. Unacknowledged deeds cannot be recorded. No special form of acknowledgment required. Deed'> must be recorde<l to be valid airainst parties without n01,ice of the conveyance. Deeds must he under seal, but witne.s is not required for validity although usual to have one. Lea;;es for more than seven years must he recorded. Trusts concerning real estate created only in writing, except those arising by implication  fffc~·:r ·£~~-i~~~:~;~:n~~tlg;~~if~g;:nt~ui~~~~l~<;;?usi~e ~~~e~~ negotiable paper. 2. Money collected on proce;;s by officer. 3. In band;; of public officer. 4. Due on contingency. 5. Trustee liable to execution on same. 6. Twenty dollars wages, for personal labor of t,be debtor, wife or minor child within one month, and 10 exempt in all cases. 7. In certain cases money due on life and ~;i~ft~~lo~iul!~) and from fraternal beneficiary associations. (See  f  Banks. Savings bank business and discount bauking permitted only under special charter, and under state supervision. 'l'rust companies may be organized under general statute;; on obtaining approval of state bank examiner. General statutes relating to discount banking repealed by Laws 1903, c. 166. Foreign banking associations having a branch here pay a tax of three-fourths of one per cent per annum on the amount of business done in this State. Savings banks have no capital, and do business only for the benefit of depositors, under statute regulations restricting investments, re<1uiring reports under oath and examinations by bank examiner. Must not pay o,·er 2 1-2 per cent dividend semi-annuaIJy. Franchise tax is five-eighths per cent, regulated to favor home im·estments. Use of the words ''bank," ''trust company," and similar words in designating a business, forbidden, except by corporations organized as above or under laws of United States. Corporations, if licen. ed by bank commi. ·ioner may receive savings deposits from their employees. Dealers in securities must be registered with bank commissioner and are subject Lo certain regulations. Collaterals. (See Mortgages.) Conditional Sales, Consignment. . No agreement that personal property bargained and delivered to another shall remain the property of the seller until paid for, is valid unles in writing and signed by the person to be bound. Such agreement, in whatever form it may be, is not valid except as between original parties, unless recorded in the office of the clerk of the town in which the purchaser resides at the time of the purcliase. This does not apply to goods consigned for sale. Conveyances. (See Deeds.) Corporations. Three or more persons may form a corporation to carry on any lawful business excepting banking, insurance, com;tructing and operating railroads, savings hanlcs. trust companies, or corporations intended to derive profits from the loan or use of money,  :ci  g~8;f:ri1era~!i}o~ :r~~::tr!it1oi1°i?i~~~~~!ti~;~f~~~i~~ o~~1J~ the State of I\Iaine. Corporations for oLher purposes, excepting for municipal purposes, and where the objects of the corporation can not be attained without special acts, are also formed under general law·. Organization becomes void unless corporation begins busines. within two years. Corporation may capitalize to an unlimited amount and may increase or decrease the amount of their capital or the par Yalue  ~~ ~~~~ i~f g~~~ ~a~ te ht:~~d ~~ g~i~i;r~y ~iafo~aJe}~.fcee~u~;g the judgment of the directors ~ to the value of such property or services is conclusive, the stock thereupon becoming fully paid. Only ori~inal sub ·cribers and takers of stock are liable on .·ame to extent of unpaid par value and then only for debts contracted during their ownership of stock, and action to enforce such lial.Jility mu ·t be commenced within two years and can be maintained only by a ju<lgment creditor of the corporation who shall begun proceeding.· to obtain such judgment against the corporation during the ownership of such stock or within one year after ils transfer by such stockholder is recorded on the corporation books. Directors must be stockholders or members of another corporation which is a stockholder If corporation fails for six months to elect, directors, court may appoint. Corporations must pay to the ,'tate upon organization, a. fee as follows: Where the capital stock is 10,000 or less, 10; exceeding $10,000 and up through ~500,000, 50; above fi00,000, $10 for every $100,000 of capital. Other fees for organization are:'s fee ii; register of deeds Ii, secretary of state 5. The annual franchise tax is as follows: $5 provided authorized capital does not, eK<·eed $50,000: e ·ceeding $50,000 and up through 200.000, $10; exceeding $200,000 and up throu!?h $500,000, S30: exceeding S.'i00,000 and up through $1,000,000, $75; and the further sum of 'or$50 per $1,000,000 or any part thereof in excess of $1,000,1JOO. porations which have suspended lmsiness temporarily and have i>een excused from !Hing returns of amount of capital stock, etc .. are not liable for franchibe tax. Meetings of stockhol<lers must he held within tbo State. Clerk must be resident and keep stockholders' rel'ords in the State. His records are open to inspection by stockholders hut not by mere creditors. With the exception of banking corporati1)ns no puhlic reports are required except one to the secretary of st t.e showing names and re ·idences of ofllcers and amount of capital tocl{. Delivery of certificate of stock to bona fide purchaser or pledgee for value together with written t,ransfer of . arne or written power of attorney to sell, w sig11. and transfer same. siJmed by owner of certificate, tran. fers title again t all parties. J.'oreiin1 corporation,.,; have practically same rights as dome tic, but are required to file copy of charter with secretary of state, also a copy of the by-law , and are also required under sovere penalties to file certifl<'ate showing among other things the names of officers, amount of capital stock authorized, amount issued and amount paid In: also must me certificat,e ::;bowing any change in above particulars. Such corporations must also appoint 1  gf~1~:.  Depositions. Depo ·ition. may be taken bv disinterested justice of the peace or notary public; may be taken wh·en depouent is unable through age. infirmity, or sicknes' to attend at place of trial; when deponent resides out of, or is absent from the 'tatc; when deponent resides in town other than that in which trial is to be held, etc. Depositions so taken may be used in all ciYil suits or cau:-es, petitions for partition of land, libel<: for divorce, prosecutions for the maintenance of children, pet.itions for opinions in trial before court: of arbitrators referees and county romml:sioners, and in ca. es of contested senatoriai or representative elections. Depositiom; or affidavit. may also be taken in application_s for pensions, bounty, or arrear. of pay under any law of the Umted tates. Courts may issue com mi· ·ions to take d_epo~itions out of the State, or they may be taken out of State by a. J~t1c~. ~otary, _or other person empowered, but in the latter case It 1s w1thm tho discretion of the courts to admit or reject them.  11  0  0  fg  a resident of Maine. having an office or a place of business in the state, to be its attorney on whom process may be served In any legal proceeding. Corporations may dispose of their franrhises on majority vote of the stockholders; may sue and be sued. and have generally the powers of individuals. Public service corporations are subject to a Public Utilities Commission. Courts. Terms and Civil Jurisdiction. Supreme judicial court: Two or three terms a year in each county; unlimited jurisdiction except as specified below; full jurisdiction in equity; appellate jurisdiction en bap.c on question of law, from trial terms and superior courts. Superwr courts: In Cumberland County except eriuity, real actions, extraordinary legal remedies and some others; exclusive jurisdiction with exceptions to S,500 and In divorce. concurrent jurisdiction above $500; sits first Tuesday of every month, ex<'ept June, July, and August. Kennebec County; exclusive jurisdiction, with exceptions to 500; concurrent in habeas corpus and divorce: sits econd Tuesday at Augusta· of January and flr·t Tuesday of April and Rentemher second Tuesday of .Tune and 'November at ,,1aterville. Courts of prob~t!'l: Usual jurisdiction concurrent in equity of probate matters. ~ 1umc1pal courts and trial justice : Exclusive jurisdiN ion of forcible entry and detainer and in other c_ases up to limited amount; appeals j~di~YJ:trdg~rtourt where established, and elsewhere to supreme  I  Descent and Distribution of Property. (See Estates of Deceased Persons.) Dower. Abolished by laws of 1895, chap. l-'i7, taking effect as to persons not then married, May 1, 1895; as to others. Jan. 1, 1897. '\V1fe or hm,band may bar the ri~ht by inheritanre to one-third or one-half, as the case may be, of realty by joining in the other's deed. or by sole deed, or by ante-nuptial settlement, or by jointure Either refusing to join in other's conveyance (or if incaparitated· with no gua1·dian in this state, other being a non-resident) may be barred of inheritance upon application to supreme judicial court and decree after hearing. (See Estates of Deceased Persons.) Estates of Decoa~ed l'er. om,. Eighteen months after notice or appointment allowed creditors t,o present claims and snit must be beg~n and serv~ce of process made within twenty months after such notice of appomtrneut. Allowance to widow and minor children. Ton-resident executor or administrator mado by court from estate. must appoint attorney. Time of demand or notice extended for ah. ent c~oditor _if_ furtJ?.er asset., but prior payment' not, di.'turherl thereby. .. o admm1strat10n ~ranted after twenty years. The real nud personal e ·tate of a per ·on decea ed int ·tate (excepting wild lands conveyed by him) l~eing subject to the payment of debts de cends ac ordini?" to the rules: 1: If he lea Ye a widow and is me, one-third to the widow. If no 1 ue, one-half to the widow. And If no kindred, the whole to the widow. And to the widower. ball descon<l the same shares In his wife·. real an<l p r.·onal e~tate. There shall like,~i. e de. cend to the widow, or , !<lower, the .ame share in all . uch real estate of which tho docea ed wa . elzed during covert11re, aml which has not been barred, or relca ·ed, a· herein provided. In anv e,·ent, one-third shall descend to the widow or widower free from the payment:· of debts. 2. The remainder of which he dies seized. and if no widower, or widow, the whole, together with all wild land. shall descend in equal shares to hi clul<lren, and to the la" fnl Issue of a deceased child by ri"ht of repre entatlon. If no c.hil<I is lh·in~· at the time of bis death, to all hi' lineal descendant · equally if all are the. sa!Ile degree of kindred; if 1~ot. according t? the right of representation. 3. If no ·uch !. sue, 1t de cends to lu father and mother in equal share·. 4. If no such i. ·ue, or father, it de1 cends one-half to hi mother. 1f no ucb is uo or mother, I descend.· one-half to his father. In either ca e, the remainder, or if no u<'h issue, father or mother, the whole de·cends in equal sharCJ to his brothers and sisters, and_ when a br~ther or si ·ter has died, to hi or her children or grandchildren b~• right or repre:entation. 5. If no such issue, father, brother or . ister, it clesrends to his mother. Jf no such issue, mother, brother or . i tcr, it descends to hi. father. Jn either case, to the exclusion of the is ·ue of deceased brothers nncl sister.·. G. I! no S?CI~ issue. fat.her. mot her, brother or sister, it de-rend to his next of km m equal de"'ree: when they claim through diffcront ancestors. to .th~. e claimin' thr<,u •h a nearer ancestor, in preference to those cla1mmg throu~h an ance tor more remote. 7. \\'hen a minor dies unmarried, leaving r,roperty inherited from cit her of hi parent:, it de rends to the other children of tho same parent, and the i · ·ue or those deceased; In equal bare if all are of tho ame degree of ldnrlred; . If the otherwise, according to the right of repr entatiou. lnte. tate lea,·o no widower, widow or kindred, It ~ cheat to the • tale. An illedtimate child i an heir or i pnren , 110 intermarry; al o of it mother. nl o of I father, who adop it or acb.-nowle<lges It before a• ma!?i trat.e: and in any ca e where the child i treated as an heir it inheri from the line I and collateral kindred of the parent, and they from it. (:-;ee Will! .) Execution. is ue after twenty-four hour from rendition of judgment, returnable in three months, renewable ";thin ten years arter  BANKING AND COMMERCIAL LAWS-MAINE No stay except by order of court for cause and one year against ab ent defendants unless bond flied; levied on real estate by appraisal and extent, also on real estate and interests in the same and franchi es and personal property by sale; money and, by consent, circulating notes applied directly. Real estate sold on execution may be redeemed in one year. Attaching creditor may within forty-eight hours after notice redeem personal property of debtor which i subject to mortgage pledge. or lien; may also redeem real estate subject to mortgage or other lien. Special provisions for redemption of certain other special classes of property, such as buildings on leased lands, franchises, etc. Exeu1ptlons from Attaclnnent and Execution. Iloruesteads, not exceeding in value $500, when duly registered; debtor's apparel, nece~ary furniture for family, not exceeding in value $100; bed and bedding for each two persons; family portraits, bible , chool books 1n use; State statutes : library, S150; regular pew; cook stove and Iron warming stoves; charcoal, twelve cords of wood. five tons anthracite coal, fifty bushels bituminous coal, $10 worth of lumber wood, or bark; produce of farms till harvested; barrel of flour, thirty bushels of corn and grain, potatoes for family, one-half acre of flax and manufactures therefrom for family; tools of trade, and materials and stock, $50; sewing machine, $100; pair working cattle. or pair mules, or one or two horses, $300: hay to keep them; harness for each horse and mules, $20; horse sled or ox sled, $20; domestic fowl, $50; two swine, one cow and one heifer, if no oxen, horse or mule, two cows: ten sheep, their wool, their lambs until one year old; hay to keep them and cattle; plow, cart, truck or express wagon. harrow, Yoke with bows, ring and staple, two chains, mowing machine; fishing boat of two tons; debtor may elect if be has more than is exempt. Life and accident policies are exempt from creditors, except any exc, i of 150 per year premium paid within two years, except suits for necessaries. (See Attachment.) Foreign Jud.1m1en t. Action of debt lies on a foreign judgment and record of it is prima facie evidence of indebtedness. I.' concluo:;i ve except for fraud when given by court having jurisdiction of parties and subject matter. Fraud. Usual common law rules as to what constitutes fraud, fraudulent repre. entations, etc.; also statutory penalties for fraud. cheats, etc. Court of equity has power to afford relief. Statutory provisions to prevent sale in bulk of part or whole or stock of merchandise in fraud of creditors. Frauds and Perjuries. No action shall be maintained upon any contract to charge an executor or administrator upon any special promise to answer damages out of his own tate: nor to charge any person upon any special promise to answer for the debt, default, or misrtoings of another; nor to charge any person upon an agreement made in consideration of marriage nor to charge any person Upon any contract for the sale of lands, tenements, or hereditaments, or of any interest therein; nor to charge any person upon any ai;reement that is not to be performed within one year from the making thereof; nor to charge any person upon any contract to pay a debt after discharge therefrom under bankrupt laws of the United States or assignment or insolYent laws of this State; unless the promise, contract, or agreement or some memorandum thereof is in writing and signed by the party to be charged, or his agent. ~ o action shall be maintained on a minor's contract, unless ratified by him in writing after becoming twenty-one years of age, except the contract be for necessaries or real estate where he has receiYed title and obtained benefit. No contract for sale of goods, etc., of 30 or more in value ls valid unless purchaser accepts or receives a portion of the goods or gives something to bind the bargain, or in part payment thereof, or some memorandum is macle and signed by party charged or his agent. Contracts whereby one become agent for sale of lands become void in one year unless time for termination deflnitely stated. Garnishment. (See Attachment.) Husband and ,vtrc. Each may bold and deal with property lnclividually, subject to right of descent _in real estate. ( ee _Estates of Deceased Persons.) Husband not hable for debts of wife contracted before marriage nor afterward in her own name, nor for her torts. Equity Court has special jurisdiction of_ ~isputes between husband and wife relating to property. After pet1t10n to and deeree by probate court either may convey real property as if sole, and other is t>arred of all right by de ~ent where deserted ~ithout. jl;lSt cause or if actually li\·ing apart for Just cause, and de ·ert10n or livmg apart has continued one year. Interest. Six per cent or any other rate agreed upon in writing; judgments, same rate; accmmts and debts not on time be~r interest from demand. Special rate in time ~1otes does not contmue after maturity, unless so provided; nor after Judgment in any Ca! e; no usury laws. On loans for less than $200, secured by mortgage or pledge of personal property, the rate shall not exceed 3 per cent per month for first three months and 15 per cent per annum thereafter. Loans negotiated in this state by agent of non-residen~ borrower ~vith intent to evade usury laws of state where borrower resH1es are v01dable. .Judginents. At law; by general order at end o! term on all c3.;c;es where verdict or default unless st.ayed by proceedmg.· ror new tnal, or continued for judgment by plaintiff; in equity, only by decree signed by justice. No lien except by ".irtue of attachment on mesne process (q. v.) and where specially provided by law. Lien. . (Voluminous Statute Provisions, for :\lec!Janics, l\Ia~erial Men, Hotel and Doarding-llouse Keepers, Stable l\.eeper , Agu;ter, etc.). Limitation of Actions. Six years; debt on unsealed contract or liability (except judgments); actions upon judgments out of t~te of court not of record; for arrears of rent_; of. account, assumpsit, or case on contract or liability expre. s or implied; waste; trespass qu. cl. and d. b. a.; replevin: case. e.·cept. lander and libel: I (?Ur years; against sheriff. Two years: as ault and battery, fa_lse llllJ?m,onment, slander, libel and penalty. One year: escape, c1re fac1a and on recognizance. ~}ighteen months: stolen bonds and C?upons. ~xc~pt by owner. Twenty years: witnessed notes, bank bills, ~pecialt 1e~. real action, other judgment ancl all. other pe:so_nal act10ns. _Suit begun when writ was made. lncapa<;1ty of J?la11.1t1fl', de~th of either narty before or within thirty days after e,:p1rat10n of time, fraudu1':lnt concealment of act.ion, absence from • tate when cau. e accrues or residence out of the State and absence afterwar<ls. extends time. Actions barred where both parties lived are barred here. • Tew Promise must he in writing or part payment must he made, to extend time. Against e ecutor: and administrator·, twenty months after !lling of atlldavit of notice given of appointment of e ecutor ~r adm~ng~mst. heirs istrator, unless further as ets 9r claim not mature~. or devisees one year after claim accrued; remedy m eqmty, if not Prosecuted '.within time limited and if without culpable negle t. Lin1lted Partner. hi11. :i\1ay consist of one or more general partners and one or more special. Special shall contrilmte ·peciflc amount of capital or property at cash value, and be not liable for debts beyond f'.hat amount. General partners must tran,act the bu ine.,s. Married ,vomen same rights and liabilities as to property contracts and all suits as men. Wife's property not liable for her husband's debts nor his liable for her prior debt , nor for o hers made on her credit. 'She may sue and be sued as if sole. • 1ay not be partner of husband and not liable for family expense e.·cept by expre promlc,e. (See Arrest, also Dower, also Estates of Deceased Persons ' also Husband and Wife.) Federal Reserve Bank of St. Louis  1895  l.Uortgages. Of real estate executed and acknowledged as deeds and must be recorded as to third parties; convey fee with condition of defeasance. Foreclosed without possession by serving or advertising notice, or by possession obtained peaceably, or by consent, or by suit. Redemption in one year from notice or possession; power of sale mortgages not authorized by statute and not much used. Supreme court may authorize a mortgage by a person in poS! ession of an estate subject to a contingent remain!ler. executory devic;e, or power of appointment, and such mortgage 1s binding on all parties. Chattel mortgages unless and until possession taken and retained by mortgagee to be good against third parties must be recorded in town clerk's oillce where mortgagor resides when mortgage is given; or, if any of mortgagees are non-residents, then in registry of deeds in county where mortgagee resides, when mortgage is given. .M ortgage on household furniture must state amount of loan, interest rate, and cost of procuring loan. Agreements, whether in form of note, lease, conditional sale, etc., or otherwise, that chattels bargained and delivered shall remain property of seller till paid for, must be in writing a.nd recorded as chattel mortgages; such mortgages and notes foreclosed by sixty days' notice to mortgagor or assignee of record or, if out of State, by publication; redemption in sixty days. Col: laterals _pledged on notes, etc .. or for the performance of anything, after fallure to pay or perform by the pleda;or. may be sold by the pleclgee, he first giving written notice to the pledgor of the proposed sale. or if his residence is unlmown, by publication of notice once a week for three successive weeks in a newspaper in the city or town where the pledgee resides, recording said notice and affidavit of . ervice  ~~~i~~ ~;da~t~~nt~~~;b!~~~1o~~}etg! ~~f/ct1~~o~!h: ing. Negotiable Instruments. Days of grace abolished except as to sight drafts. Falling due on Sunday or bank holiday payable and presentable for payment on secular or business day next succeeding. If holiday falls on Sunday then following Monday is deemed bank holiday. On notes payable at fixed place on demand at or after a time certain, no recovery unless demand proved there before suits usual demand and notice to charge indorser; notarial protest proves it; but one indorsing note at inception before payee does is a maker. Waiver of demand and notice, acceptance of bill, draft, or order must be in writing and signed. Recovery from indorser without suing maker. Rate of damages on protested bills of 100 or more payable in this country, 1 to 9 per cent according to place. Negotiable paper presumed to be taken in payment of debt or liability for which it is given, unless creditor would thus lose security be otherwise would have had. Legal holidays are January I; February 22; Aprll 19; May 30; July 4; first Monday in eptember; Thanksgiving; Christmas, and Arbor Day. If note reads "I promise to pay" all signers are jointly and severally liable. Partnership. Personal property of partnership, or interest of partner therein, exempt from attachment on mesne process, or seizure on execution for any individual liability or such partner; but is statutory provision for reaching same after judgment. Partners in mercantile enterprise must file sworn certificate with city or town clerk where business to be carried on, showing names and residences of partners, nature of business and partnership name. (See Limited Partnership.) Powers of Attorney. Usual common law rules. Probate Law. (See Estates of Deceased Persons.) Protest. (See Negotiable Instruments.) Replevin. Goods or chattels wrongfully taken or detained may be replevied by owner or party entitled to possession. Replevin bond must be double the value of property replevied. If dismissed without trial. suit may be brought on the bond, in which suit title may be shown to mitigate damages. Taxes may be collected by arrest, distress, or suit. On real estate they are a lien; proceedings to enforce by sale begin upon non-payment for nine months; non-resident owners have one year from sale to redeem by paying tax. costs, and 10 per cent interest from day of 0 ~~e~i~1~d:~:· Jria~e:~8a ~ii~ts~ f-~nii°~! ~t~~ts\!:~~~ i:yu~~!fa~ sold on first Monday in February in year succeeding the year In which tax was assessed; sale is of smalle t fractional part of interest to one who will pay taxes, interest, and costs therefor. State tax assec;sed by board of state asse ors on gross receipt' of railroads and express companies, and telegraph and telephone lines, collected by suit. Corporations, other than those especially provideµ for, pay a franchise tax of $5.00 if authorized capital does not exceed $.50,000.00; of $10.00 if capital does not exceed 5200,000.00; of 50.00, if capital does not exceed 500.000.00; of 75.00, if capital does not exceed $1.000,000.00; and the further sum of .'i0.00 for each Sl,000,000.00, or fraction thereof, in excess of Foreign corporations pay annual license fee of $10. Inheritance tax ranging from 1 to 7 per cent, according to degree of relationship and amount of bequest, $500 exempt in all cases, and $10,000 exempt in case of certain near relatives. Special exceptions and exemptions from assessment, and special provisions for taxing personal property situated here hut owned out of the State. Real estate mortgages exempt. (See Banks.) "·agei,. Weekly payment required in most industries. (See Assignments, Attachment.) ,~arehouse Receipts. Holder deemed true owner so far as to give ,·alidity to contract, for sale of merchandbe covered, or to protect one acting on faith of such ownership; but one taking from agent as security for antecedent debt gets no greater right than agent. Title to property pa:;sed by endorsement. but not in blank, to purchaser or plcdgee in good faith. Property in warehouse may be attached as that of per'on named in receipt, or of last endorsee shown by books of warehouseman. Common law rules prevail generally. Wills. Wills must be in writing signed by the testator, or at his request by some person in his presence, and subscribed in his presence by three witnesses in presence of each other, may be made by any person of age and of sound mind, and may dispose of all property. ·wms executed in another tate or country according to laws thereof, may be proved and allowed in this State in the county where the testator had bis residence at time of decease: if proved without this State (at his domicile), may be allowed in any county here where he ha, property. "'idow or widower may within six months waive provision in will of deceased husband or wife and claim same share in per ·onal property as would have bad in case decea ed died intestate · (But see Husband and 'Wife.) uncupative will must be reduced to writing within six days or proved by .t,estimonr within six months, from time words spoken. To letters m such till four~een days after dece!\Se of testator. Not effectual to disoo e of more than 100.00 worth of property unless proved by three witnesses who acted at testator's request.  l?:il~l~~ Federal Reserve Bank of St. Louis  l8%  BANKING AND COMMERCIAL LAWS-MARYLAND Arrest. No arrest for debts in this State. In criminal cases a senie1:ce :111ay be passed, imposing a sum of money a.s; a fine, and ~hen. m heu of payment by party, of fine imposed, he is liable to 1mpnsonment.  ~;itri~t 1  SYNOPSIS OF  THE LAWS OF MARYLAND RELATIXG TO  BANKING AND COMMERCIAL USAGES Revised by T. How ARD EMDERT, Attorney at Law, Baltimore. (See Card in Attorneys' List.) In general. Bagby's Annotated Code (1911) and Supplementary Volume (1914) embrace the Public General Laws of Maryland, including tho e of the 1914 session. By statute, the Code of 1911 ha.'> been made evidence; special reference to statutes in the following is therefore unnecessary. Acknowledgments of conveyances of any interest in real or leasehold property for above seven years, may be made within the tate, and in the county or city in which the land, or any part of it, lies. before a notary public, justice of the peace, a judge of the orphans' court, a judge of the circuit court of any county, or a judge of the supreme bench of Baltimore city. If within the State, but out of the county in which the estate conveyed lies, they may be made before a judge of any circuit court for the circuit where the grantor may be, or before any judge of the orphans' court for the city or county in which t.qe grantor may be, notary public, or a justice of the peace; the official character of the ju tice mu<;t be certified by the clerk of tbe circuit court of the county, or uperior court of Baltimore rity, under his official seal. or any judge of the supreme bench of Baltimore city, if grantor be in Baltimore city. If without the tate. they may be made before a notary public. a judge of any court of the United States, or of any state or territory court having a seal, or a commissioner of deeds for this State. The seal of the officer or court to be affixed to the certiflcate of acknowledgment in all cases. If acknowledged without the nitec! States, the acknowledgment may be made before any minister, consul general, vice or consular ag-ent or deputy, or a notary public, or a commissioner to take acknowledgments for tate of Maryland. o separate examination of a married woman is required. Defective acknowledgments cured. (See ( 'onveyance .) Actions. The forms of actions. which still savor of the common law are now very sin1ple, any plain tatemcnt of facts constituting a good cause of action being sufficient. Amendwent is allowed at any time before verdict. Equitable ,Jefenses are now allowed to be made in a court of law. although there are still Jaw courts and equity rourts having different and di tinct jurisdiction. Speedy judgment Acts are in force in Baltimore City and in many of the L'ounties. (See Suits.) Admini tration of Estates. The orphans' court of the counties and the orp-tiaru ' court of Baltimore Oity are t.he court of probate. In cases where decedent left a will, letters are granted to executor and executrLx named in the will. In grantin~ letters of administration, where decedent, died without leaving will, letters are granted: 1. To widow or child or children; 2. Grandchild; 3. Father; 4. Brothers and sisters; 5. ~!other; 6. Text or kin; 7. Largest creditor applying for letterR. In each, males are preferred to female8. Bond is reciuired with two sureties, or one of certain local surety companies where authorized by their charter to act as sole surety. \Vhen testator request. in will that executor be excused from giving bond, court only require nominal bond for amount sufficient to pav estimated debts. Six months notice to creditors must be given by publication before e ·tate L distributed. Personal property must be appraised. accounted for and distributed through the orphan • court of the county or city in which decedent resided. All sales must be authorized and ratified by the orphans' court. B~· Act of 1 06, Ch. 246, above provisions were made applicable to .. ·e~tates of person. absent and unheard of for abo.-e seven years." This act has been held unconstitutional. Re-enacted with amendments. ( ct 1908, Ch. 125.) This act con titutional by deci'iion of Court of Appeals in case of Savings Bank vs. Weeks 110 Md. 7 . Affidavits. (Sec Aclmowledgments.) No particular form nece sary, but whoever can take an acknowledgment can take an affidavit. Affidavits always required in a mortgage a.'> to the bona tides of mortgage consideration; and the payment of tax on annual interest in certain counties. ( ee l\Iortaagcs.) Alien'!. liens. not enemie , may take and hold lands, tenements, and hereditaments acquired by purchase, or to which they would, if citizens, be entitled by descent, and may sell, devi e, or di. po~e of the same or transmit the , ame to their heir as fully and efl'ectually and in the same manner as if by birth they were citizen· of thi'i , tate. Arbitration. Disputes between partie. may be conducted by any judge or justice of the peace mutually agreed upon. pecial ae;reemcnts for arbitration of such disputes to be valid. Parties may be represented by an attorney, and award of arbitrator or arbitrators to be a judgment, and court may ~ive judgment and issue execution on the award. Ac-t 1904. C'h. 671, provides a means for the. cttlement of disputes between employers and emplovees by mediation or voluntary arbitrat.ion. ·  9  5  t~>  da~~~!1~:~J. f~~1:re~~ ;r ~•0:;~~~-n ·oi~i!°:e:f\~q~ii cases when the defendant is a non-resident or has absconded, affidavit beim~ first made by the plaintiff to the correctness of his claim and the fact that the defendant is a non-resident or bas absconded. They may be also obtained in connection with an original process when the creditor or some one in his behalf shall give bond m double the amount of tl!e debt, with sureties to be approved by the clerk, and make affidavit before the clerk of the court where the suit is brought th3:t the defendant is bon~ ~de indebted to the plainti.f:r in the sum claimed, and that the plamtiff knows or has good reason to believe that the debtor has absconded or is about to ab cond from the State ~r that the d_efenditnt has assigned, disposed of, or concealed, or 1s about to as 1gn, dispose of, or conceal, his property, or some portion thereof, with intent to defraud his creditors. or that the defendant fraudulently contracted the debt or incurred the obligation; or that the defendant has removed or is about to remove his property, or some portion thereof, out of this tate, with intent to defraud creditors and the attachment may be maintained, although the debt or obligation upon which the action is brought may not have matured but the date of the maturity of the debt or obligation must be set forth in the affidavit (Act 1 04, Cb. 64 ). A claimant may have the attached property released by filing a bond in double the amount of the appraisement. Any kind of property or credits belonging to the defendant, in the plaintiff's own hands or in the hands of'any one else may be attached. There is a special provision for capital stock of a corporation. The certificate itself must be seized. Credits not due may be attached, but wages, hire or salary not due can not be att~ched, and 90 per cent of wages, hire, or salary due shall !3-lways. be exempt. (Act 1908, Ch. 665.) Imprisonment for debt 1s abohshed. Defendant may be sued wherever ho does business. In addition to attachments against non-residents or absconding debtors for debt (i. e., a liquidated sum), as heretofore, attachments may now Le issued against such debtors in cases ari ing from contracts when the damages are unliquidated, and in actions for wrongs independent of contract, but in such case· no attachments can be issued until a declaration is filed setting out specially and in detail the breach of the contract complained of or the tort actually committed, verified by the affidavit of the plaintiff or some one in his behalf, and until a bond shall he flied similar to the bond required in attachments for fraud. (Code Art. 9.) All papers in attachment proceedings can now be amended, as in any other actions at law. (Act 1898, Ch. 44.) Banks. The Act of 1910, as amended by the Acts of 1912 and 1914. made important changes in the banking laws of this State. The law now provide' for the appointment of a Bank Commissioner with broad powers for the examination of all banking institutions in this State other than .l -ational Banks and an annual report thereon to the Governor. \Vhenever capital is reduced by impairment commissioner may require Bank to make such deficiency good within sixty days, and upon failure to do so may take possession of property and business of such institution and retain po ·e ion until affairs are finally liquidated. This also applies where the business is conducted in an unsafe or unauthorized manner. The requirements for the incorporation of such institutions are fully set forth in the act. This act also J?rOv~des_ roi: the incorporation and supervision by the State of savmg m<;t1tut10ns and trust companie . Chattel loan companies are required to take out a license pay a fee where ~:n~an is 300 or more, and inspected by the tate Banking DepartCollaterals. The com·ersion by any banker, broker, merchants, attorney, or agent of collaterals is made a misdemeanor. ( ee Code, Art. 27. Sec. 03.) Contracts. The normal condition of all persons is one in which they are capable of making any contract. The fourth and seventeenth sec-tions of the t-;tatute of Fraud are in force in l\faryland. Acts 1900, Cb. 362. make it no longer nece . ary to show that the consideration for a promise to answer for the debt of another is in writine;. A ciLizen can not make a contract with an alien enemy dw·ing the cont,inuance of ho. tilities. but alien . not enemies. may contract and hold real property as fully as citizens. The later cases decide contract of infant to be voidable anrl not Yoid; and they ar capable of ratification by infants on arri.-al at age of twent.y-one. The conti·acts of infants for nece · aries are binding upon them. The contract of a lunatic is voidable and not void. The statute provides that a married woman may en~age in businel s. contrac-t. ue, and be sued upon contracts and torts, ag if unmaITied. (Acts 1~98, Ch. 457 .) All gambling cont,racts and contrarts made on , w1day are void. ~onveyances. No estate or title to any property lying within this State. for any period above e,·en years, shall pas· or take effect unles the deed conveyin~ the same shall be executed, at·knowleciged, and recorded. ( ·ec Code. Art. 21, :ec. 1.) Every dee<! of real est.ate shall be signed and ealed by the gra.ntor and harg-ainor. and attested by at least one ,, ~ o words of inheritance ne<'e. sary. but every deed shall be construed to pas,, fee simple Litle unl"ss the contrary appear. .A scroll with the word ". ea!" therein by way of a ea!, is su!Jicient. A deed mu t bo recorded within six months from date, in county or Baltimore City, where land lies. but if recorded after this, deed, while valid between parties, is invalid as to deeds to bona tide purchasers without notice recorded prior thereto. A body corporate must embody in the deed it. elf the appointment of an attorney to acknowledge the deed as and for th corporate aC't of said corpo1·ation or have it acknowledged by the President or Vi<'e-Presidcnt without such appointment. 'Vendors' lien may· be released in original deed or upon record where recorded. ( ode Art. 66, .'ec. 31). Conveyance· defectively e:ecuted made valid by .Acts 190 , Ch. 105 and Act 1914, Ch. 259 and h. 421. orporation"I are organized under the authority of the General Incorporation Law, completely re,·isecl, Act 190 , hap. 240. Liberal provisions are made for general incorporation: only exception (for municipal purposes) is in the constitution. All corporations (under the general lawJ must pay a bonus tax of one-eighth of 1 per eent upon it authorized capital stock and any increase. Corporations ha\·e perpetual sucrc ·sion, may carry on business anywhere. maY issue bonds, and secure them hy mortgage of all property including franchises. Forcirrn corporation.· mu'-'t file list of resident shareholder:., and amount held. The corporation's certificate must, be filed and 2.:; paid; annual rcn wal fee of l is charl?ed. All corporations, not paJ-ing a gro.·s receipt tax (a long enumeration). shall pay an annual franchi. e tax on their capital employed in thi 'tate, of 50 cents per 1.000 but no 101 s than 25. If capital i oYcr 500,000 then one-fourth of J per cent on the exce.- to 5,000,000, etc. ·ection !J!) of Article 1 of 'ode. amended by providing for annulment of Charter for non-payment or taxes. Domestic corporations may i ·sue. all kinds of preferred and common tock, and e. c-hange .-ame for· stock or good will. Valuation in ab ·ence of fraud i · conclush·e. As to tock certificate·, see" niform Law ." Law amended by Chapter 59u, Act· of 191G. Chapter 31s. Act of Hit , provid · that all corporations who shall rPfn e or nel?IPrt to p, y franchise tax or ta. on capital ·tock for a period of two year·, the charter is annulled and forfeited.  BANKING AND COMMERCIAL LAWS-MARYLAND  Lses a , and )le to  liquiln all davit land They when e the . and ~ugbt sum  11i :;~~ d, or  rtion tdant ' that ,., or itors ligabut ortb the ount ging any pital dits  --------------------  Any corporation charterer! by this State, which for a period of ten days next preceding is wit,bout one resident agent,, whose name and p_ost o!Iice addre;;s is given in charter or filed with State Tax Commissioner. may be deemed a defendant in an atta<'lm1ent in lhe same manner as non-residence, unless said corporation t-hall bave been ncorporated under tbe Jaws of this State prior to June l!HO and ~;~;~/;i~tt one Director, who is a citizen of this 'tate. actually resid-  ere art1ts, de, "ch nth 00, ion A  :the nd act of cts of  al al  11 a  or: s~parate cleed,_or by agent or attorney properly constituted. The wifes property is protected by the Constitution from the debt of tbe husband. Interest. The legal rate of inter st is O per cent per annum. Judgments bear interest from their date. A person proved guilt v of usury forfeits the exce. s oYer the real sum or value of the good·;; and chattels lent, and legal interest thereon. Since 1876, where the whole debt, including tbe usury, is paid, the usuriou interest can ~~!r i)ite~~;fr~~~ t~:~kate ~}n£~e ~:m~.ber 1st, 1914, judgments  Courts. Terms and Jurisdiction. The circuit courts in the counties have jurisdiction at common Jaw in ca<;es involving more than . 30, and equity in all cases involving more than 20. They hold from two to four regular terms in each county at which they have a jury; there are, however, intermediate terms fixed by the rules, to which process may be made returnable. The circuit court a~d circuit court No. 2 of Baltimore city have exclusive equity jurisdiction i~ the ci~y. The superior court, the court of common pleas, ~nd Baltrmore city court have concurrent common law jurisdiction m case;; i~volyin~ t_ha~ $100. Tbe court or common pleas h3:s ~xclusive Jurisdiction m msolvency, and the criminal court in criminal cases. Tbe orphans' courts in Baltimore city and in the <;:ountics have probate jurisdiction. Justices of the 'peace have Jut•isdiction to the amount of $100. The common law courts have thr~e terms in the year, and rule days every month in tbe year to ~luch process may be returnable. The equity courts have. ix terms 1Jn the year, beginning the first Monday of January. :\farcb, May, uly. September, and November. _neposition. ·when the courts are satisfied. by affidavit or otherw1 e, that there are material and competent ·witnes e re. iding without tho State, they will direct that a commission be i ued to take tbhe testimony of such witnesses. The commissioners are selected Y t_h~ court. and must qualify before some per. on authorized to admm1ste_r an oath in the state where they reside. The depositions, d uly certified by the commissioners, shall be admitted as evidence at the trial of tbo cause, subject to tbe same objections and exceptions as the s~me testimony would be if the witness had been personally Present m court and there examined. Part-ies have the right to be present when the testimony i taken under the commission. and must r~ceive rea.-,onablc notice or the time and place. Examination is ~estr1cted to the parties and interrogatories and cross-interrogao.~ies annexed to tho commission. Testimony of non-resident ~ls.l~tc~~ ~~ih~e upon proper notice, as provided by ec.  7,#  Ju_dgment are liens for twelve rears from date of rendition on any mterest of the defendant in real or leasehold property within the county where rendered. Tbey can be transferred from onP county to another by sending a copy of the docket entries to the clerk for record. The lien co=ences·rrom the date of the entry of the docket entries by the c)erk. Judgments are not liens on mortgages. Judgments are not hens on personal property until execution has issued and the writ is in the hands of the sherill'. (See Act 1890 Chap 558, a5 to examination of judgment debtors.) (See Suits.) ' Lien . (See Judgments.) Mechanics' Liens. Every building erected, repaired, rebuilt, or improved to tbe extent of one-fourth of its value is subject to a lien for work done or materials furnished for or_ about ~he same. Act of 1898, Ch. 502, aboli,hed lien for materials ful·?i bed for buildings in Baltimore city. Every machine wharf_. ~r bridge, cons~ructed or repaired is subject in like manner a.5 bu1ld1~gs are, to a hen according to the provisions of Code 1888, Art. _63, Sec. 22. All boats or vessels are subJect to a lien for materials furm. hed or work don~ in building, repairing, or equipping the same. Gara~es by Act 1918 gn-en lien for storage and accessories. To secure t~e l_1en_and lay foundation for enforcing it, the material man must ~1tbm six m<;mths after the work has been furnished, flle a claim rn the supenor court for Baltimore City, or in the circuit court for the county. The liens are enforced by scire facias or by bill in equitv. Section 133 13, Bagby's Code, amended by Chapter 355 Acts of 19IU entitled "Additional Contracts." Every note, sale, or contract for sale of goods. and chattels wherein tbe title thereto, or lien ther on is reser~ed unt!l the ~ame be paid in whole or in part, shall be void as ~o th1_r~ pei:sons without notice until such note, sale, or contract be m writmg Stll'ned by tbe vendee and be recorded in the Clerk's office o~ Baltim9re City, or the counties. and such recording shall be sufficient to give actual, or constructive notice to third parties. Li.Initations of Suits. Accounts and notes are barred after three years, sealed in. truments after twelve years; judgments twelve years except against foreign corporations (no limitations). Act 1914, Cb. 846. A verbal promise or acknowledgment will revive a debt barred by the statute. Married \Vomen. Act of 1 98, Chap. 457, Code Art. 45, repeals and re-enacts the entire law in this ::-tate. :\1arried women may bold and dispose of their property lawfully a.<; if unmarried, but husband must join in conveyances of r al estate to release his interest. 1'1arried women may engage in business, contract, ue, and be sued upon contracts and for torts, as if unmarried. Married woman is alone liable for ante-nuptial debts and contract . Rusbaud is still liable for necessaries. Widow is entitled to dower in real estate, and one third of the per onal e tate if there are children, and if no children, one-half of the personal estate; husband has same rights in wife's property as wife has in hw band's property. ,vhere the wife is adjudged a lunatic upon inquisition, and the finding remains in force, hu band may convey after acquired property by separate deed, as if unmarried. Mortgages are executed, acknowledged, and recorded same as deeds. and are not valid against creditors unless recorded within six months. There must be an affidavit made by the mortgagee or his agent at any time before recording, tbat the consideration is true and bona fide, and, in the four Counties mentioned below, that tbe mortgagee will not require the mortgagor, or any other per·son for him to pay the tax levied upon the mortgage interest, and upon tbe assignment of any mortgage except for the purpose of foreclosure, a like affidavit must be made by the assignee. If made by agent, he must, i!J addition,. m_ake oa~h that he is tbe agent of the mortgagee. A hke affidavit 1s required to chattel mortgages, and absolute bills ~f sale, both of which must be recorded within twenty days. The hen of a mortgage may, by ceasing to pay interest or any installment of the principal for twenty years, be barred. They may be foreclosed at any time after the debt becomes due and before the lien is barred. Mortgagees are required to pay a tax of 8 per cent on the interest convenanted to be paid in the mortgage, in Somer et, Montgomery, Frederick, and Dorchester counties. No tax in Baltimore City and other counties. (Code Art. 81. Ch. 187.)  ci~~:~  Descent and Distribution of Property. As to de cent, see Code 190!, Art. 46, and as to dist,ribution, Code, 190-1, Art. 93. A.n attempt to abrogate the Rule in helley's case has been made by Ch · 144, Acts Hll2. Dower. The common-law right or dower exists in :\Iaryland. and extends to equitable estates. By act l 898, the busban<l's dower was created; an e, tate of the husband in his wife's estates of inberitndce,. exactly equivalent to the wife's dower in her husband's estate. ev1se or bequest of real or personal property to the wife or husband 8 \all be construed to be in lieu of dower in land'> or share of personal es date, respectiYely, unless otherwise expressed in the will. If the W 1 oyv_ or widower renounces formally in writing, however, such prov1 ion made for her or him by the will, within ix month after the grant of administration on the estate of the decea ed husband or wife, t(hSe dower right and the share of personal property remain undi turbed. ea Married ·women.) Ex~cutions may issue and judgments may be renewed or revived by fscire facias at any time within twelve years from date of judgment or rom the expiration of any stay, and may be thereafter levied on a~y property of tbe defendant. In the circuit courts for the cthount1es there is a stay until the first Thur day of the term succeeding a rendition of the judgment, provided the judgment is obtained at tbe second term after the defendant is summoned. There is no ~tay_ upon judgments rendered in the courts of Baltimore it,y or by iustices of the peace in the city or countie , but execution may i: ue ~orthwitb. The defendant may stay tbe execution by superseding with sureties for six months. Copy of doclcet entries of judgment w(Ahen recorded in another county makes the judgment a lien there. ct 1890, Ch. 314.) Exemptions. No homestead Jaw. ·wearing apparel, books and tools (not kept for sale) and $100 of property in addition, whether same consists of money, land, goods. or money payable a insurance, benefit, or relief in the event of iclrness, hurt, accident. or death, atre exempt from execution, except on judgments for breach of promi a o piarry and seduction, not applicable to any but actual bona fide resident of this tat . Equitable interests in per ·onal propert,y can not be sold under execution, but may be levied upon, and the lbien thus acquired may be enforced in equity. Cho es in action may a attached. Foreign Corporation . (, ee Corporations.) F~reign Judgment . Judgments of tbe court of other states certified under the act of congress, are proper causes of action against any person subject to tbe process of the courts of thi 'tate. Fraud. ·when any false representation is made by one to another w ith the intent to defraud, and the defrauded party, thinking the a 1!aged fraud to be true, acts upon it, any contract thus made can not b enforced. But if the injured party knows such repre. entations to be false. it can not be said to bave influenced his conduct. For ~eneral doctrine in this State see l\IcAleer vs Hor,,ey 35 Md. 439. i".'ing checks or drafts without provision for acceptance is prima f ac1e evidence of intent to defraud, and is punishable as a crime Unless such provi. ion is made within ten days. Every per ·on buying merchandise in bulk shall demand and receive from the vendor a written statement under oath containing the names and addresses of all creditors with amount of indebtedneS! at lea ·t ll ·e days before the sale is consummated. The vendee at least five days before consummating such sale shall not,ify all of said creditors either personally or by registered mail of sucb proposed purchase. A sale ~ransfer of goods in bulk without uch notice shall as to all subs1stmg credjtors of the vendors be void. Chapter 370, Acts of l!H6, adds additional ection to Article 27 of Bagby s Code and provides that if any per on .-ball make, or c·ause to be made, either directly or indirectly, through any ae;ency, whatsoever, any false statement a· to his flnancial condition for the purpo. e of Pr~curing the delivery of personal prop rty, etc., shall be guilty of a misdemeanor and be fined not more than 1,000, or imprL':ionment for one )·ear. hapter 371, of the Acts of 1916 aclds new section 31 of Bao-by's 9ode and provides tbat any vendor of tock of ~ood. who, hall knowingly and willingly make or deliver any statement of which any material portion is false. shall b guilty of a misd meanor and upon conviction shall be fined $1,000, or imprisonment for one year. Garnishments. (See ttachments.) Husband and Wife. ( 'ee Dower. Divorce. and :\1arried \Vomen.) In this State the husban_d i~ not liable for w!fe' · ante-nuptial debts or contract . Husband 1s hable for neceS! arias of wife. Act. 1S98 Ch. 457, gives husband same intere t in wife', estate ru· wife ha in h usband's estate. Married women are expre .-ly authorized by the Acts of 1,~00. Ch. 033,. to }?eco?le partJ?er and to contract with husband. E1tber can relmquish mterest m other's real estate by joint  or Federal Reserve Bank of St. Louis  1897  1  Notes and Bills of Exchange. Negotiable Instruments are deflped by Ch. 119 of tbe Laws of 1 98, which repeals all laws incon~_i.sten~ with the pwvi ions of t~is act. Section 20 provides a follows: An. mstrument to be negotiable must conform to the following requirements: 1. It must be in writing and signed by the maker or drawer. 2. It must contain an unconditional promi e or order to pay a sum certain in money. 3. 1'1ust bo payable on demand or at a fixed or determinable future time. 4. J:\Iust be payable to order or to bearer; and 5, where t,he instrument is addressed to a drawee. he must be named or otherwise indicated therein with reasonable cerrainty." ~t. negotiability is not affected by a seal. or by a provi. ion which \ uthor1zes the sale of collateral se urities in ca a the instrument be u_-,. paid at maturity. or authorizes a confession of judgment if the i?strument be not paid at maturity; or waives the benefit of any 13:w mtended for the adYantage or the protection of the obligor; or gives the holder an election to require something to be done in lieu of payment of money. It is not necessary that paper hould be ma9e payable at a bank or any fixed place. To charge indorser, notice o~ n~n-payment must at once be given to bim. Tbe time of matur1~y is regulated by Art. 13, as follows: "Section 10-1: Time of Matur1tr. ~very negotiable instrument is payable at the time fixed therem without grace. When the day of maturity falls upon Sun_day, or a holiday, the instrument is payable on the next ucceeding busrness day. Instruments falling due on Saturday are to be pre~ented for payment on the next ucceeding business day, except that m ·trument:'> payable on demand may, at tbe option of the bolder, be pre~ented for.payment befoi-e 12 o'clock noon, on Saturday, when that entire da~ is not a holiday." Legal holidays are: Christma . ew Yea;r spay, February 22, Good Friday, July 4, May 30, 1st Monday m September, 12th day of eptember, and the 12th clay of October, all clays of general and congre sional elections throughout the tate an~ any day of public thanksgiving or humiliation and prayer prorla1med by the governor or legislature, and all aturdays after 12 o clock _noon 1:tre legal half holidays. Monday is treated as. unday when mlllled1ately preceded by one of the holidays afore~aid. ~Y act 189., Ch. 19 , it shall be lawful for banks and bankers m the city of Baltimore to close their doors for bu iness at 12 o'clock ;10011, on each and every atw·day in the year and everv Saturday m the year, after 12 o'clock noon, hall be a '1eo-a1 half-holiday so f ar a.,; regards th_e . presenting for payment or acceptance, and 'the protestmg and _givmg notice of the dishonor. of bills of exchange and other ~egot1able paper, and for the. e purpo es shall be considered as the fir t day of the week, or unday, and all negotiable paper shall be deemed t-o be presentable on the ecular day next ucceediug. Federal Reserve Bank of St. Louis  1898  BANKING AND COMMERCIAL LAWS-MASSACHUSETTS  Bap;by's Code amended by Chapter 355, Acts of 1916. Notes wherein reservation of title is embodied must be recorded in the Clerk's office of Baltimore City, or in the counties. Power of Attorney. Every power of attorney authorizing an agent ot attorney to sell and convey any real estate, shall be attested ai;id acknowledged in the same manner as a deed, and recorded prior to or with the deed executed in pursuance of such power of attorney. A corporation shall have power to appoint an attorney for the same purpose, by its corporate seal. Such power of attorney shall be deemed to be revoked when the instrument containing the revocation is recorded in the office in which the deed should properly be recorded. Probate Law. (See Administration of Estates and Wills.) Protest is usually made by notary public. Notary must keep register of protests. A protest of notary public is prima facie evidence of non-acceptance or non-payment, and of the presentment of said note for payment, or of said bill for acceptance or payment. at the time and in the manner stated in the protest, and the prote t shall also be prima facie evidence that such notice ha" been sent or delivered in the manner therein stated. (See Notes and Bills of Exchange.) Replevin is a remedy to recover specific goods and chattels to whose possession the plaintif? is entitled. Also the proper remedy to recover posgession of goods rlistrained unlawfully. Bond must be  f~vthne ~~o~~~~~¾~tut1oa;~t~h ~~da::~o~~fnff;~JnJ,n an action in the name of the State for his or her use. Sales & Notices. Act 1910, Ch. 346, provides a Uniform Sales Act. Taxes. The county commissioners of the several counties of the State, and the mayor and city council of Baltimore City are directed to levy a tax annually upon real and personal propert.y situated within the State, and no person who is not assessed to the Slllll of $100 shall be required to pay any tax. Beginning with HH5, the State tax is thirty-two and one-third cents, beside the County tax. The County tax on Banks located and in business anywhere in .Maryland is uniformly 1 per cent. 'l'he property of religious, charitable, benevolent, and educational institutions, and cemetery companies is exempt from taxation. On timely application exemption may be bad for manufacturer's tools and machinery in actual use from Municipal taxation in Baltimore City and in some of the Counties, anrl beginning with 1915, from State taxation. Colle:-tors may sell property to compel payment of overdue taxes, upon giving due notice of sale, and complying with other requisites of statute, and any person interested in property may redeem within twelve calendar months from date, and in default of redemption, title to property vests in purchaser. Taxes are considered in arrears on first day of January next succeeding the date of their levy, and bear interest from that date. Trust Companies. Laws of 1920, Chapter 268, Section 46, subsection ninth. provides that trust companie-:, by it!'l directors, duly authorized officers or agents, shall have the powers as shall be usual in the carrying on of the han.1.."ing busme.«s. by buying, discounting, negotiating- promissory note--. bonds, draft , bills of exchange, foreign and domestic . and other evidences of indebtedness. Laws of 1920, Chapter 64. Trust companies tax one per cent, same as state banks. "Uniform State Law " intended for adoption by all the tates and adopted by Maryland: (1) i Tegotiable Instruments, (2) Bills of Lading, (3) Sale.'>, (4) Warehouse Receipts, (5) Stock Tran. fer, (6) Probate of Foreign Wills, (7) Uniform Bad Check Act, provides that drawers shall be given ten days notice to make good check, before pro ecution. Certlflcates of capital stock, bills of lading, and warehouse receipts, roughly speaking, (1) are negotiable, (2) represent the property certified to. Wills of land or personal property, and any codicil thereto, must be In writing, signed by the testator, or some one else for him, in bis presence, at his request, and witnessed by two or more credible witnesses, as and for last will and testament of the testator, in the presence of all the witnesses thereto. Nuncupative wills invalid except in case of disposition of personal property by soldiers and marmes in actual service. Every will or other testamentary instrument executed without this State in the mode prescribed by law, either of the place where executed or of the testator's domicile, or according to the forms required by the law of this State shall be deemed to be legally executed, and shall be of the same force and effect as if executed in the mode prescribed by the law of this State. provided, said last will and te tament ls in writing and subscribed by the testator; and if the testator was originally domociled in Maryland, although at the time of making the will or at the time of his death be may be domiciled elsewhe1·e, the . aid last will or te tamentary instrument so executed shall be admitted to probate in any orphan.· court of this tate; and when so admitted shall be governed by and construed and interpreted according to the law of :\Iaryland, without regard to the lex domicilii, unless the testator shall expres: ly i~~!rl:t_ci3~rc?. ifJ!~ti~rio i1!.iit~e;ffn~:ni~~~diiit~f mentary paper shall be subject to caveat or other objection to its validity after the expiration of three years from its probate. (Acts 1894, Cb. 405.) ,Yhen a per:;on is unheard of for aho,e seven years, and supposed to be dead. the orphans' court, under the provisions of Act of 1908, Ch. 125, ma.· grant leLLers testamentary or of administration as the case may be. Workmen's Compensation. By the Act of 1914, Chapter 800, provision is made for the in ·urance by employers of their employees engaged in extra-hazardous occupations, to provide for compensation for injurie · and death. TbL<; Act i intended to supersede within its scope recovery for injuries through negligence as a tort, and to do away with such defenses as '.'a.-;sumecl risk," "fellow en,ant" and, to souie extent, ''contributory negligence." The extra-hazardous employment . are enumerated at length, and the extent of compensation set out. Employers and employees, may by filing agreement, classify their occupation as extra-hazardous. alt.hou~h not so enumerated in this Act. Article 101, Amended by Chapter 86, Acts of J 916, so as to extend benefit:s to alien non-resident defendants upon certain terms.  SYNOPSIS OF  THE LAWS OF MASSACHUSETTS RELATL.G TO  BANKING AND COMMERCIAL USAGES Revised by RAYMOND T. PARKE, .Attorney at Law. Boston, Mass. (See Card in Attorneys' List.)  ~~~f!f!  ~rh~i;.ure:.r::  Accounts. Ex parte affidavit on claims and accounts is of no value. They must be established by evidence produced in court after suit brought either by testimony or deposition. Acknowledginents and Deeds. Acknowledgments may be made before any justice of t,he peace, notary public or special commissioner in the State; when the acknowledgment is marle by any person without this State and within any other state, territory or dic;trict of the United States, it may be made before any officer of such state. territory or district authorized by the laws thereof to take the proof and acknowledgment of deeds, and when so taken there shall be attached to the certificate of acknowledgment a certificate of the secretary of the state or territory in which such officer resides, under the seal of the state or territory, or a certificate of the clerk of a court of record of such state, territory or di trict, in the county in which such officer resides. under seal of said court, certifying as to the authority, of such officer to take acknowledgments and as to the genuineness of his signature. In deeds where there is more than one grantor. the acknowledgment of one of them is sufficient. Official taking acknowledgment should state date of expiration of bis commission. No separate examination or acknowledgment of wife joining in a release of dower nece. sary. Conveyances of land are made by deed under seal executed by the grantor or attorney having authority therefor. A conveyance in fee. for life or for a term exceeding seven years, shall not be valid except as against the grantor and persons having actual notice of it, unle.: · recorded in the county in which the real estate is situated. Deeds must be under seal, a scroll being insufficient. No subscribing witness is nece·sary. Hele~ e of dower, homestead and other interests must be explicitly stated in deed, wife's joining in deed merely, being insufficient. Hu ·band and wife may make conveyances of real estate to each other e.·cept by way ot mortgage, as if unmarried, but no such conveyance shall have any efl'ect, either in pa.c;sing title or otberwi e. until the deed describing the property to be transferred is duly acknowled1?ed and recorded in the registry of deeds for the district where the land lies. Any interest in real estate may be tran ferred by a person to himself jointly with another person or persons in the same manner in wWch it might be transferred by him to another person. ~o interest in land except an estate at will can be created except by instrwnent in writing or by operation of law. Actions. There are three classes of actions: contract, tort, and replevin. Actions at law are begun by writs L ·ued in blank form by the clerks of the several courts. No declaration need be inserted in the writ, except in ca ·es of arrest on mesne process or of an attach· ment of a vessel. Suits in equity are begun by filing a bill upon which a subprena is issued by the clerk of the court. Actions begun by trustee process mu t be brought in the county in which the trustee or one of them resides or has his usual place of business. Admini tration of E tate . Administration or probate is to be taken out in county where deceased last resided. Executors or administrators are required to give a bond of about double the value of the personal estate. An executor "ill be exempt from giving sureties if testator so direct· . An administrator will be exempt if all persons intere ted in this tate except creditor:s con. ent and all creditors are notified by publication. In case a non-resident i appointed executor or administrator, be must appoint a resident agent. There are public administrators in each county to whom admiul ·tration I· ~ranted upon estates of person" who die intestate leaving property, and not having any husband, widow, or heir in ·tate. nclllary, administration may he granted upon the e ·1ate of a non-r ident who dies leaving property in thi State. Every administrator and executor shall file an in rnntory "itbin three months. and publi;;Jt notice of his appoint-ment. -otice of a debt, and demand for it · payment hould be given to an executor or administrator within six montru after hi. appoint-ment and the debt should be paid after ·Ix months and within one year of the appointment. .. -u suit can be brought by a creditor airainst an executor or administrator within si. month after hiS giving bond, e.·cept on a claim not affected by the in:olvcncy of the e. tate. ,.~o uit can be brou~bt against an executor or administrator who has published notice of his appointment. after one year from time of his gi\'ing hontl, unless he ha,- received new assets after the expiration of tho one year, or unless further !ime i allowed by court, A creditor who ·e claim does not accrue within the one year maY cause as.,;et to be reserved to answer to his claim. \Yhen the estate is insuflicient to pa.y all claims, the executor or administrator shall represent the estate in. olvent and commi loner will be appointed to receive proof or claims, or the Court may receive and act upon the claim-;. Claims for funeral expense . sickne · , and charges of administration. are not affected by the in ·oh·ency of the estate. li;xecutors and admini tTators shall render an account at least once a year. Aliens. Resident, or non-rec·ident aliens may ue and be sued anil may hold and convey real e tate. Arrest. In an action of contract, the defendant unless she is ad woman. may be arrest d on mei ne proc · provided the plaintiff', an except in act ions on nc!.(otiable in trument . the original party to tbde contract or hi:s executor or administrators make afJldavit an satisfactorily proves to the court to which the rit i returnable tha? be e pects to recover a um amountin!.( to 20: that he hclieves tha• defendant has property which he doe· notintencl to apply to paymenl of plaintiff's debt: that he bellove. that d fendant intend to leave the • tate. ctiun of tort, a:::ain.-.;t omen as , II a m n, except tor , lander or libel, may be hegun by arr ·t of the defendant, on the plaintiff or ome one in hi be.half making certain affidavits. A defendant arrested on me ·ne proce. s may give hail or h may apply tob take an oath that he do not intend to leave the . tato, or the oat for relief of poor debtors; on taking uch oath he i. relea.,;ed frODl arrest. .. To arrest can be made if the property of defendant is att~~ upon the same writ. On an execution, except for co ts, or for ~• mony, or one I ·suecl in an action of tort, or where debtor Ls; about to J.  1  BANKING AND COMMERCIAL LAWS-MASSACHUSETTS leave the State, he can not be arrested until he has first been citeu before a magistrate for examination, and it appearing that he has  'TS  f no court  ~i~~r~1!~te~e~~ee~~~u~i~~ntl~ ~~t~:g:!1";~~:i;Yt~ri~kehth!r:;!;~ for relief of poor debtors. Assignments for benefit of creditors. A voluntary assignment to trustees for benefit of creditors can not be avoided by creditors who assent thereto, except by proceedings in bankruptcy begun within four months or by proof of fraud. If there is property in excess of the claims of creditors who have assented, the excess in hands of the trustee can be reached by trustee process. Attachment. All real estate, goods, and chattels not exempt, may be taken in attachment on the original writ and held as security for judgment, except that lands and tenements can not be attached m suits involving less then $20. Attachments may be made in suits bNy or against non-residents as well as in suits by or against residents. - o bond is required to make an attachment. hares of stock in corporations cannot be attached except by bill in equity. Attachment of shares of stock is not valid against a bona tlde transfer although not recorded in book of corporation. Debtor may di solve attachment by furnishing bond with sureties to pay judgment obtained or value of property attached determined by apprai ement. Debtor against whom judgment is rendered for over $20 may be subjected to sworn examination touching his property, and if he refuses to deliver up such property (not bein~ exempt from attachment). an order for arrest will issue and he can then apply to take the poor debtor's oath and be examined as to his property after notice to creditor. An ttachment is clissolved by death of the defendant if administration a~t~~a~i~eie~fh.n his estate upon application made within one year  f  Ranks. Tho banking business is extensively regulat _cl by statute. In general, savings banks, co-operatiYe bank·. trust companie.,, or other corporations or persons doing banking business in ::.\Iassachusotts ahre subject to supervision of cornmi sioner of banks. (General Laws, c_, ~G7. ch. 168, ch, 100, ch. 170, ch. 172,. No foreign banking asso~iatiou 01· corporat.ion shall transact busine · in :\las. achusetts until lu has received certificate from board of bank incorporation. There 3:re very few existing state banks, and Rev. Laws, ch. ll5. in view of ~t. Hl18 ch. 12, was not re-enacted in the consolidation of tatute.c; m G~moral Laws, e:l!ective January 1, 1921. Fore. tensi\e provisions re1ative to Savings Banks, see Gen. Laws, ch. 1G8. . 1'he company is the prevailing form of hanJ-ing institution. Fiftee? or more persons associating by written agreement may, upon comphance with statute, become a trust company. Agreement of association must set forth corporate name, purpose, city or town in ~tlas.<;achm;ett where bru;iness is to be transacted, amount of capital s Ock and number of hare·. ... ~otice of intention to form ti·ust company shall bo given to hoard of bank incorporation. and such notice must he published. nless the board issues a certificate that public ~onvenience and advantage will be promoted b)' e,,tahlishm nt of such a trust company, no furt]ler proceedings shall be had, but after one year tho application may be renewed. After the first meeting of tho subscribers the president and majority of hoard of directors ex~cute ill duplicate articles setting forth copy of agreement of association, names of subscribers and names and residences of officers, date <:>f _tlrst meeting; one of the cortilleates is submitted to bank comn11. ·siouer. the other together with records of pro po. ·ed corporation t o. C~lllmis.-,ioner of corporations and taxation. ppro\"al by commiss~<mer must bo endorsed if be finds that legal requirements, incluclm~ certificate of convenience, have heen met. The articles are filed with the secretary of state, with fllinµ; f o of one twentieth of 1 per cent of capital stock, and certificate of incor11orat ·on is ·ue . 13 eforn business can be commenced a certificate authorizing such must be obtained from board of bank incorporation. roen. Laws. ch. 172, section 11 ). A director of trust company must hold at least ten shares of unpledged stock, and majority of dir cto1s must be citizdi·1:ms or and resident, in .Massachusetts, and not over one-third of the . rectors hall be directors in any other such corporation. Except m smalle1· municipalities capital stock of trust compan~ must be not l ess 1,han $200,000; shares par value of $100 each. hntirc capiLal sbtocl, must be paid in in cash. Stockholders of trust company shall e personally liable, equally and ratably and not one ror another, ~o amount of their stock therein at par in addition to amount in, ested 1D ~uch shares, for all contracts, debts and engai;ernents of the eon>orat1on. In case of impaired capital, bank commi ioner h; · authority to act. Commissioner of bank.· has extensive power to require returns U:U<l to supervise and examine. Savings depa1·tmcnt. may he e:-;tabIished. The kinds of business which may be tlono arc prescribed by statute with considerable detail. BUls and Notes. 'fhe law of negotiable ui,,trument · is governed by the Negotiable Instruments Law, as amended. where appllcable; in other ca~es by tlJC law merchant. A per ·on h coming a party ~o a non-negotiable promissiory note payable on tme, by signature 1n blank on the back thereof, is entitled to notice of non-payment sahme as an indorser. A depositary of funds, subject to withdrawal by ~ eek or demand draft may pay a check or demand draft drawn on iht. by a depositor having funds on deposit to pay ·ame, not:withstanding is death, upon presentation within ten days after its date. . Prot.est of bill, note or order duly certified by notary public under h is hand and official seal is prima facie evidence of fact ·, stated in su9h protest and of giving notice to .drawer or fndor er. . . rhere are various statutory prov1. 10ns bearmg upon the vahd1ty 0 .r the notes of municipalities of this Commomrnalth. Where a negotiable instrument is not payable on demand. pr~·entment must be Inade on the day it falls due.· Where it is payable on demand pre ·eotment mu1-t be made within a reasonable time after its issue. An accommodation party to a negotiable instrument is liable thereon to I!, holcler in due course notwithstanding such holder at the time of ~!l.kmg the instrument knew him to be only an accommodation party. .Vhen the day. or the last day, for the performance of any act, !ncludi ng the making of any payment or tender of payment, , uthor1zecl or required by statute or by contract falls on ·uuday or on a legal holiday, the act may be performed on the next succee~ing . ocular or busine. s day, unless it is spec•iflcally authorized or rec1mred to l>e performed on Sunday or on a legal holiday. . Every negotiable instrument is payable at the time fl.-ed therein Without grace except that three days of grace shall be allowed upon a draft or bill of exchange made payable "ithin la achusotts at sight Unless there is an expre s stipulation to the contrary. \ here the clay, of maturity falls upon , aturday, Sunday, or a holiday, instrument, is Payable on next succeeding business day which is not a aturday. lnstrumont payahle on demand may, at option of hold r, be pre, ented for payment before twelve o'clock noon on Saturday when that entire day is not a hollday; provided that no per. on receiving any Check, draft. bill of exchange or pron11sso~y ?Oto payable on, demand, 8!1at_l ho <.:barged witl1 any neglect or om1ss1011 of dut~· or mcur any liability, for not pT'esenting for payment or acceptance or collection such _check, draft, hill of exchange, or promissory note on a 'aturday: J>rovicl cl al~o that the i;amo shaU be duly pres ntod for J>aym •11t ac<•eptanc·e, or collection on tho next st~c~·ooding hw inc s day. ' Under cer·tain drcumstances the or1gmal named payee of order Pa.per may he a holder in due course. No bank shall he liable to a depositor, or to the drawer of a bill of eh~change upon the bank, for an amount charged to or collected from un on account of payment by such bank of a negotiable in ·trument Federal Reserve Bank of St. Louis  1899  upon which the signature of any party is forged, or which is made, drawn, accepted or indorsed without authority, or which is materially altered or the amount of which is raised; unless within one year after return of such negotiable instrument to such depositor or drawer, he shall notify the bank in writing that, as the case may be, the instrument was made, drawn accepted or indorsed without authority, that signature of a party to instrument is forged, or that instrument has been materially altered, or that the amount has been raised. Bills of Lading. The so-called Uniform Bills of Lading .Act is in force, and has been held constitutional by the Supreme Judicial Court. A bill in which it is stated that the goods are consigned or destined to a specified person is a non-negotiable or straight bill. A bill in which it is stated that the goods are consigned or destined to the order of any person named in such bill is a negotiable or order bill. A non-negotiable bill cannot be negotiated, and indor:ement of such a bill gives transferee no additional right. A negotiable bill may be negotiated by indorsement of person to whose order goods are deliverable by tenor of bill. Such indorsement may be in blank or to a specified person. If indorsed to a specified person. it may be negotiated again by the indorsement of sucn person in blank or to another specified person. Subsequent negotiation may be made in like manner. A negotiable bill may be negotiated by any person in possession of same, however such possession may have been acquired if, oy the terms of the bill, the carrier undertakes to deliver the goods to the order of such person, or if at time of negotiation bill is in such form that it may be negotiated by delivery. Indorsement of bill does not make indorser liable for any failure on part of carrier or previous indorsers of the bill to fulfil their respective obligations. Any provision in an order bill that it i non-negotiable shall be void. Bills of Sale. A bill of sale of personal property intended for security must be recorded, the recording provisions as to mortgages of personal property being applicable. See Chattel ::.\llortgages. Chattel Mortgages. Chattel mortgages must be recorded in the records of the city of town where t,he mortgagor resides when the mortgage is made, and in the city in which he then transacts business, every mortgage, must be recorded within fifteen days of the date, until recorded the mortgage is not valid except between the parties and record subsequent to time limited is void. If mortgage is given by non-resident mortgagor, record must be made in city or town where property then is. If record in two places is required, and mortgage is recorded in one place within fifteen days. it may be recorded in other place within ten days after date of first record . Conditional Sales. If a contract for sale of personal property is made on condition that title shall not pass until purchase money has been fully paid, and vendor upon default takes possession of property, the vendee may within fifteen days after such taking redeem the ~WEerire:istt~~~n a~f 1~!It3gc~~r;~.n~c:d t~:p~~;e;~~~mtto t~:~d~~paid There are special statut,ory provisions affecting conditional sales of furniture or other houc;ehold effects. By statute no conditional sale of heating apparatus, plumbing goods, ranges, or other articles of personal property which are afterwards wrought into or attached to real estate, whet,her fixtures at common law or not, shall be valid against any mortgagee, purchaser or grantee of such real estate unless not later than ten days after delivery thereon of such personal property a notice in form prescribed by statute is recorded in registry of deeds of district where land lies. Statute also applies to registered land. In the ordinary ca e, contracts of conditional sale need not be recorded. Selling or concealing personal property held by veudee under a written conditional contract of . ale, before performance of condition and with intent to defraud. is a criminal offense. , Corporations. By special act of 1!)0:3, chapter 437, tho law of business corporations was revised and as amended. and now codified in General Laws. applies to all corporations organized in this commonwealth for the purpose of carryinµ; on business within the commonwealth for profit, except the followiJ:1µ;: Banks, saYings hanks, cooperath-e banks, trust, companies, surety or indemnity companies, safe deposit companies, insurance companies, railroad or st,reot railway companies, telegraph or· telephone <'ompauie , µ;as or electric light, heat 01· power companies, canal, aqueduct; or· water companies, cemetery, or -rcmatory companies, or any corporation which now have or may hereafter haYe the right to take or condemn land, or to o.·ercise franchise in public ways, prnvidl'd that corporations, formed for purpose of dealing in real e tate ,a:hall state the term of tho duration of the corporation, such term not to exceed fifty years. Throe or more persons may ru sociate toµ;eth rand form a corporation for carr~•ing on any lawrul busiI1es · nut included in the ahoYe pro\"isions 'uch a corporation must have a capital or not l~s thau '1,000, if ha\'ing shares onl~· "\\ith par \'alue. There is no maximum limit. llusine s corporat,ions may create shares or stock with 01· without par value. and cm·porations with stock with par value may, by appropriate proceedmgs, change such stock to stock without par value. The stock may be divided into two or more classes with such ~~efi~~icei,yv~~~g a~~;;::nrir~~~~~~atti:. ~~~~cacl~~s o;-:a:z~ tion of the associates and filing a copy of the agreement of associatio11 with the commissioner of corporations and on payment of a fee of one-twentieth of 1 per cent of total amount of author• izod capital stock with par value, and fi\c cents per share for all authorizc•d share· without par value, hut in no case !es,, than :;o. a certitieate of incorporation is issued hy the :c-ccrC'tary of state. The capital stod{ may be issued for cash proport~•. tangible or intangible sc,·vicos or expenses, but not for notes. Th amount or capital st.ock may he increased from time to time. Th<' co!'poration must have not le. ·s than throe directors, president, cle!'l and t rea:·ur r. The clirc-ctors, treasurer, and clerk are elected hy tbe stockboldors. The prl'sident is chosen by and from the board of clircciors. The clerk must ho a resident or the commonwealth. • leetings or stockholders must bo hold within the commonwcalih, but directors may meet within or without the commonwealth. Voting by proxy is permitted, hut no proxy dated more than . ix months before the meeting uamed is valid. Any corporation may hold, purchase, convey mortgage or lease such real or personal property as tho purposes of the busine. - may require . Every such corporation i' required to illo an annual report of its co11cliiion, and if its capital stock i.· over. 100,000, har .· without par value being taken as of . 100 in value, to file a written statement under oath hy an auditor. It, is also required to make an annual return to the tax commissioner. Every foreign corporation which bas a usual place of business here. or is engaged here permanently or temporarily in the construct ion, ernction, alteration or repair of a building, bridge, railroad, railway or str_uc~ure of any kind, shall before doin~ business here appoint the comm1ss10ner of corporations, its attorney for tho se1·vice or process, such authority to continue as long as any liability remain outstanding against it in this commonwealth, and shall flle with the commissioner of corporationA a copy of its, articles or certificate of inc?rporati~n, . by-laws, and a certificate setting forth its name, l?cation of prmcipal office, names and addre scs of its oflicor ~ate of its annual meeting, amount of its capital stock authorized anci i,,sued, the number and par value of it shares, the amount paid thereon, and details of any payment thereof not mad in money Such !:0~1>orations are required to file annual . tatements with the comn11,;s10nor of corporations howingLtheir condition. Federal Reserve Bank of St. Louis  1900  BANKING AND COMMERCIAL LAWS-MASSACHUSETTS  Courts. Terms and Juri,;diction. Trial justices may severally hold courts within the rounties for which they are appointed, and shall have oril?'inal jurisdiction, e ·clusi ve of the superior com·t, of all actions of contra<'t, tort. or rcplevin. where the deht. or damages demanded or value of the p1•opcrty alleged to be detai11e•l does not exceed 100, anr! concurrent jnri.·diction with the superior co11rt, of such actions where such amount exceeds $100 and is ie,:;s than . :ioo. Polire and district courtll may in their re,,pective countie. have original jurisdiction, exclusive of the Superior 'ourt, of actions of contra<'t tort or replevin, in which the debt or damages demanded or the value of the property alleged to be detained does not exceed $100 and have original and concurrent jurisdiction with the Superior Court of artlons of contract, tort or replevin in which the debt or damages demanded or the value of the property alle:sed to be detained is more than ~ lOO and does not exceed Sl,000. The supreme judicial court has ori~innl jurisdirtion in all equity matters and may on appeal hear nil mattei·s determined by the probate court, anrl determine questions arising unrlor uperior court has jurisdiction where the amount claimed exwills. ceeds 20. Municipal court of the city of Bo ·ton has jurisdiction concurrently with the uperior court in the county of Suffolk. in actions where the debt does not exceed . 2,000, provided one or more of the defendants resides or has his U<;ual place of busines.s in the county of Suffolk. The Land Court has exclusive original juri diction for registering titles to real estate under the Torrens system. The Probate Courts have jurisdiction over administration of e ·ta.tes of deceased persons, matters of adoption, guardianship, conservator, hip, trusts under wills and written instruments, petitions for separate support. and of partition of land. There is a Probate Cou1·t and Re1,1;istry of Probate in each county. Ju:i~f~f ycj~~~iction is lodged in the Superior Court and in Supreme Depo itions. Taking of such is governed by statute and rules of courts. The commission issued to take depositions contains full instructions to magistrate how to proceed. Descent and Distribution of Property of Decedents. After deducting widow's allowance and allowances for minor children, and payment of debts and expenses of administration, the remaining personal and real estate is distributed as follows: If deceased leaves no issue. surviving husband or widow shall take $5.000 and one-half of remaining real and personal property. If deceased leaves issue, surviving husband or widO'w shall take one-third of remaining real and personal property. If deceased leaves no kindred, survhing husband or widow shall take whole of remainin.g real and personal 11ropcrty. A husband on death of wife shall hold for his life one-third of all land owned by her at any time during coverture. estate known as tenancy by curtesy. Wife i entitled to dower at common la,\·. But in order to be entitled to such curtesy or dower election and claim therefor must be filed in re1?istry of probate with six months of approval of bond of executor or administrator, and such election i a waiver of the interests on real property above mentioned. Probate Court assigns dower or curtesy. Rights of curte y which exist on February I, Hl19, may be claimed as above provided, but in such case husband shall take no other intere ·t in real or personal property of wife, and except as above prCi erved curtesy at common law is aboli.·hod. ubject to all the above. the re ·t and residue of intestate property is distributed as follows: 1. In equal share1- to children and issue of any deceased child by right of representation; if there i no urviving child. then to the other lineal descendants if all are in same de~ree of kindred, otherwi. e by right of representation. 2. If intestate I aves no issue. then in equal shares to father and mother. 3. If no issue nor mother, then to father. 4. If no i ue or father, then to mother. 5. If no i.· ue, father or mother, then to brothers and sisters and to issue of deceased brothers or sisters by right of representation: if no surviving brother or sister, then to issue of such equally if all in same a.egree of kindred to intestate, otherwise by right of representation. 6. If he leaves no i sue, no father, mother, brother or sister or issue of decea ed brother or sister, then to next of kin in equal degree. but if there are two or more collateral kindred in equal degree claiming through different ance to1·s, those claiming through neare t ancestor are preferred. If intestate leaves no kindred, husband or widow, estate escheats to commonwealth. Executions can not issue until twenty-four hours after judgment rendere<l, and an original execution must be issued within one year after plaintiff is entitlerl to sue out the same. Original executions in all courts are returnable within sixty days alias executions five years. Exemptions. Homestead, if recorded, to the value of SS00. Necessary wearing apparel of family, certain specified articles of household furniture, and "300 woI"th in addiLion thereto. library, i>0; tools and implements .• 100; stock, 100; boats and fishing tackle, etc ... 100; one cow, six sheep, one swine, and two tons of bay. sewiu~ machine. nece·sary wearing apparel, pew in church, etc. ::\Iaterials and stock designed and necessary for carr:ving on his trade and intended to be u,ed or wrought therein, not exceeding 100 in Yaluc. . ha.res in co-operative associations not exceeding ~20 in value. funds of.railroad relief societie ru se went in urance benefits, uniforms, arms, and equipment of militia officers. :Factor's Act. A factor or other a2ent intrusted \\ ith possession of mer<'handi.<;e or of bill of lading consig-ning merchandise to him with authority to s •ll the same shall b deemed the true owner of suc·h mcrchandi.·e. so far as to give vali<lity to any bona fldf' con ract, of sale made by him. Bona fld consig-nces from ·hipp<•1-s in lawful possession have liens for aclvanee · or ·ecurities to shipper. Bona fide pledges from consignees or factors ar • also protected. Frauds, Statute of. ~ To action can be brought to charge an executor or administrator on a. special promise. to charge any person upon a special promise to answer for debt, default or misdoing of another, upon an agreement marle on cowicleration of marriac:(e. upon a contract for ale of any intere ·t in land. upon an a~eem nt not to be performed within a )'ear. to charge a cli charged <lcbtor. unless the promise, contract or agreem/lnt or some memorandum thereof is signed by the party or hy his aut,horizf'd agent. , ·o agreement to make a will, or to devise 01· to !.(ivc a legacy is binding unle ·sin writing. No contract of sale of per.·onal properly of ~;'iOO or over is actionable unless there is part payment, accept a.nee and receipt of part of the goods, or some memorandum in writing signed by party to be charg'cd or his agent. In olvency. There is an insolvent law, but it is superseded by the National Bankruptcy Act of 1898. As to insolvent estates of deceased persons, see tration of Estates. Gifts between Husband and \ ·ife. Oifts of personal property husband and wife shall be vali-1 to sam, extent as if they were S!)le. Holiday·. January 1st, ~ew Year's Day; February 22nd, Wa.·hington's Birthday; April 19th. Patriot's D;:.y; :'.\fay :30th. DeC'oration Day; July 4th, Independence Day; First :\londay in .·eptemher. Labor Day; October 12th, Columbu... Day: • •overnber 11th, Armi ·tice Day; Thanksgiying Day; December 25th. Christn1a, Day. Interest. Legal rate is 6 per cent. There are no u. ury laws, but there are certain statutory provisions relative to interest upon small loans. Judgnwnts. .\. jud~mcnt or clcere<' of a court of record of the or of any state tlwreof shall he pr ... um cl to I><' paid Unitl'tl Htat and satisfied at the expiration or t wcnty years after it was render 'd,  Limitation of Suit,1. Contract express or implied and not under seal and not otherwise limited, six year;,;: real actions, those upon an attested note, if suit is brought hy original payee or his executor or administrator, anrl per.·onal actions on contracts not limited. twenty years. Absence from th<' State prevents the running of the statute of limitations as to a defendant until he comes into the State. If the person entitled to brin2 an action is a minor or is insane or imprisoned when the right to bring such action first accrues. such action may be commenced within the time hereinbefore limited after the disability is remo,•ed. The statute does not run against, those residing out of the State. 'ee also Admini.stration of Estates. 1'-larried "'omen. The real and personal estate of a married woman, acquired at any time, remains her sole ancl separate property, not suhject to the coutrol of her hw band, nor liable for his debts. ?l,larried women may carry on trade or business. make contracts, sue and be sued, in all matters relating to their separate property, and such contracts are not binding upon the husband. Wife carrying on business on own account must record certificate with city or town clerk; neglect to do this renders her property so employerl liable for hu ·band's debts, and renders husband liable for her debts thus contracted. l\lechanic's Liens. Subject covered by statute. l\.Iortgages of Real E:state. Power of sale mort2age is universally used. Foreclosure is regulated by statute, requiring publication prior to sale, and ale bar· redemption. ~Iortgage · may also be foreclosed by entry and peaceable possession for three years. Sales of Per.;onal Property. Uniform 8alcs Act adopted in mos, is now Gen. Laws ch. 106. There is a Bill,; of Lading st::itute, (Gen. Laws ch. 108), and Gen. Laws ch. 105 relates to warehouse rcce:pls. As to sales of . ,iOO or over, sec Frauds, Htatutc of. Sales of merchandise in bulk arc fraudulent unless the pro,isions of Gen. Law1, <"h. l 06, sec. 1, arc r·omplicd with. Delivery of a bill of sale is not constructive cklivery of the goods. Delivery of possession of goods sold is essential as to third persons without not ice who 1m1·chasc same goods for Ya!uc, ,,r as to atta,·hing creditors without, notice. Vendor's retention of possession after sale is prin1a facic evidence of fraud. As to conditional sales. sC'e that topic supra. Statutes. Oe1w1·al rnvision and consolidation of statutes, efl'cctive January 1, 1921 under title of General Laws. Stock Tr nsfer. This subject is covered by Stock Transfer ~\ct as codified in Uen •ral Laws. Suits. Ch·il actions in general, except those concerniJ1g land (if one of the parties lives in the. tate), must be brought in the county where one of them lh·es or has his usual place of busines!'. But in lower courts Yenue depend. on residence or place of busine~s of defendant. Where all parties are non-resident, action may be brought in any county. Attachment of property owned by defendants residing out of State may be made sufficient to ~ive juri diction in suit after notice published by order of court. Such notice to be given within one year from the entry of the suit. Persons commorant in , tate may also be arrested on mense proces and held to bail. A nonresident plaintiff L usually required to furnish indorser for costs. See also Actions, supra. Taxes are a,._-;e · ·ed as of the first day of April in each year. and on real estate are a lien for two years after they are committed to the collector; but the collector may . ell real estate for taxes after two years have elapsed, unless the estate has been alienated prior to the giving of the notice of such sale. If not paid on demand, collector may sell after advertisement. Tru tee Proce . All personal actions except replevin, and actions of tort for malicious prosecution, slander, libel, or assault and battery may be begun by trustee process and goods, etrects, or credits of defendant in hand of a third person may be attached and held to sati fy final judgment. See alc;o Actions, supra. Warehouseman and W'arehouse Receipts. The Warehouse Receipts Act as codiflcd into Gen. Laws is in force. Wills. Every per·on of full age and sound mind may make a will. Will must be signed by testator, or by some person in bis behalf. by his express direction, and be attested and subscribed by three or more competent witne · es in his presence and in the presence of each other. A will executed in mode pre cribed by the law either of place where will is executed or of place of testator's domicil, shall he deemed legally executed and shall be of same force and effect as if executed in mode pre cribed by laws of Massachusetts provided will is in writin~ and subscribed by testator. As to waiver of provisions of will bY husband or wife, sec Descent and Distrihr:it n, :-.u1,ra, .. bu Cc.icral Laws ch. l!JO, section 15  BANKING AND COMMERCIAL LAWS-MICHIGAN SYNOPSIS OF  under ,on an tor or wenty tatute e. If rnprisaetion ~r the iding  THE LAWS OF MICHIGAN RELATING TO  BANKING AND COMMERCIAL USAGES  arried rerty, debts. s, sue r, and rrying town )le for s con-  samP dor' ...; raud. ctive r ~\<.:t  don the two o the ector tions ttery ·ts of Id to ouse will. f. by more tber. here med uted ·itin~ II by :icral  R vised by HENRY ,vuNSCH and EDWARD F. WuNscn, Attorneys at Law, Detroit, Michigan. (See Card in Attorneys' List.) fAcknowledgments of real estate instruments may be before one o. the fo_llo_wing officers: 1. Within this State: Any judge, clerk or comm1ss10nor of any court of record, notary public, justice of the r:!-1,ce or master in chancery. The official should certify that "On 1s day before me personally appeared .......... , to me 1..--nown to be the person or persons who executed the foregoing instrument and_ acknowledged that he (or they) executed the same as his (or the1_r) free act and deed." Notary's certificate must show date of e~Plration commission. Such im;truments must have two subscribing :ttnesses, 2. In any other state, territory, or district of the United b •ates: Harne officials as described above or any officer authorized J'. t_he laws of such state, territory, or district, or before a comm1ss10ner appointed by the Governor of thi State for that purpo e. Any such instrument may be executed according to the laws of any c1ch other state or territory. If officer has no seal, certificate of the ~rk of the county or district, or of the Secretary of State within wh1c~ taken shall be attached. 3. In any foreign country: notary PUI!dhc, or minister plenipotentiary, minister extraordinary, minister st"i ent, charge d'afi'airs, or comlnissioner or consul of the United ates. appointed to reside therein. re Actions. Common law forms or pleadings are used. but in some spects modified by statute. on-resident plaintiffs must give security for costs. ~d~nistration of E tates: In probate court of each county. g1a1ms are pa sod on by judge of probate or commissioners appointed . reach estate; within such time allowed by the court, not exceeding ~n rrst instance one year nor loss than four months; may be extended s·o to exceed two years from date; the court mav revive commision any time before estate is closed and allow ft1rther time three months to exalnine any claim: an appeal to circuit courts from allow~nfce or disallowance of any claim. All clainis barred, not presented e ore administration is closed:i Ahdministration of intestate estates is granted: 1st. to surviv~g usband or wife, or kin or grantee, or such one of them as judge ~Y ~ppoint, or as they may request. 2nd, to one or more of the Prmc1pal creditors. 3rd, to such other per on as the judge may think Pigpor. Non-resident administrators and executors appointed in ihi ers· state , territories, or foreign countries cannot sue as such in s tato without procuring administration in this tate. Affidav~ts may be taken by any judge, master in chancery, clerk of c~urt, Justice of the peace, police magistrate, notary public, or circdUlt C<?urt commissioner. Any oath authorized, or required to be ma e, ~ithout the "tate for use in judicial proceedings here, must be authent1_catecl by judge of a court having- a . eal, and the genuinene s ~f such Judge's signature, existence of the court, and that such judge a member thereof, cerU0ed by the clerk of the court under the seal ereo_f.. If in any other state or territory, may bo taken before a com1!1L'>Si~ner appointed by the governor of this State, or any notary I>ltbhc !)r .Justice of the peace author~ed by the laws of any such state or territory to administer oaths therein. In actions at law affidavits of amount due on open and stated ac~ounts, attached to and served with proce. ·' a.s commencement of iu it make a prlma facie case, unless denied by the defendant's affidavit 1ed and served with plea. Aliens. :i\Iay inherit or purchase and hold and convey personal and real estate. _Arbitration. Competent parties to any controversy which is or might be the ubjoct of an action at Jaw or suit in equity, may agree to arbitrate. and 3urlgment of any circuit court re11dorecl upon the award. ~o arbitration of claim of any per ·on to any e,- ate in fee or for life in real estate. Arrest. lly writ of capias in personal actions in tort and in actions f1r money collected by any public omcel'; or upon pi·omise to marry; a so by warrant allowed by any justice of the peace or judge of a court of record, under tbe fraudulent debtor's act, when the creditor hfas commenced suit or obtained judgment and tho debtor has clisposed 0 or concealed. or is about to dispose of or conceal property liable to execution or the debt was fraudulently contracted. .Assi~nments for the uenefit of creditors are void unless made without preference ; must comprise all of assignor''- property not 8 empt from execution. Tho circuit court in chancery ha superv sory ju1·isdiction of such as.·igmnent . Attachments. Writs may be issued from ju ·tire and circuit courts 0 !1 affidavit showing: debt, due on expre.· or implied contract, and either that the debtor has absconded or is about to abscond from ~~o State or has ruc·signe<l or disposed of or is about to ru.sign and ispose of his propertv with intent, to defraud his creditors; or i a uon-resident of the state. or a forei,m corporation. ~lay i. sue from le circuit court for debt not due hut to become due, upon satisfactory .bowing to the circuit judge, but in such cases judgment cannot be taken until debt is due. May issue in actions of tort against non-residents in certain cases. Banks. Incorporation of: Any number of person not less than fl ve may ru sociate to establish for a period not to exceed thirty years, ~?m~ereial banks. savin~s hanks, and banks havina; fOI_' both classes. :aP1tal required is graded- 20,000 to. 250.000, a,.cordmg to populat~on or cities or , illag •s where conducted. pon filing articl s of asso~iation, commissioner of banking department and ::;ecrotary of ...•tate 1ssne certificates of organiza.tion; hoard of directors cho. en by the stockholders. No more than the legal rate of intero ·t in advance s~all be received; file correct list of stockholclers with commi ·sioner banking, and county cleric and report four times a year LO IJe pubished in newspaper whore bank is conducted. ommorcial loans, 1ot to exceed 50 per cent of the capital, on real e.·tate secUt'ities, by ,wo-thirds vote of directors, except to secure debt· due the bank. Savings deposits payable as directors pre cribe; commercial deposits Payable on demand. Banks combining commercial and savings deposits cannot issue post notes nor any bill or note or certificate as md oney. Savings depositors p1•eferrod in di. trihution of savings apartment funds. Stock.holders inrlhidually liable equally and ratably and not one for another to the amount of the par value of stock, for the ... benefit of depositors. All transfer· of nroperty and payments of money after actual or contemplated insolvency to pre-  ~1  f  ff  t Federal Reserve Bank of St. Louis  1901  vent legal application of assets null and void; total liabilities of any borrower shall not exceed one-tenth part of the whole capital and surplus, may be increased to one-filth by two-thirds vote of directors; not _to issue certificates of deposit for• borrowed money nor make partial payments on such certificates; not liable to depositors fc!r payment of a forged or raised check unless notiiled within three mouths after return of voucher. All shares of bank stock shall be assessed against their owners in the township, village, or city, where the bank is located, taxes not paid by stockholders, bank's duty to pay. Tru t deposit and security companies may be incorporated under the general laws of the State applicable thereto. Seven or more persons may a.'>sociate to establish-capital graded from $100,000 to $~,000,000 according to population of cities where conducted; deposit with the state treasurer 50 per cent of the capital stock in bonds or real estate mortgages worth double the amount secured; powers such as are customary for trust companies. 'l'hey cannot do any banking business. Collaterals. Stocks, bonds or other personal property pledged as collateral security for payment of money or the performance of any obligation, upon default may be sold at public (or private sale if so authorized by the contract) to satisfy the debt; but before public sale, ten days notice must be given and served on pledger or legal representative personally or by mail; such sale must be between ~{t;, sunset, at a public place in the township,  g~~~Y~fgi:h~~i~{t  Conditional Sales_. . Ar~ va\id bo~ween the parties: if consignee or purchaser. on cond1t1on title 1s retamecl by seller, is authorized by the contract to sell, all such sales are valid. The consignee or purchaser cannot make valid sales against the legal owner without the authority of comignor or legal owner. (See Liens.) ( ee Frauds.) Conveyances. Any person of full age or otherwise capable may convey by deed any interest in lands, whether in actual possession or not. All grants and devises of lands to two or more persons create e tates in common; no j_oint tenancy, unless expressly so declared, except such as are made m trust or to executors, and except such as are made to husband and wife, who take as "tenants by entirety." The '.' conveys an~ war~ants" in the deed de ·cribing the premises and specifymg the cons1derat10n, dated, duly signed and acknowledged by grantor are sufficient to convey title in fee simple and to warrant.. that grantor and his heirs and per onal representatives is seized of the premises, has good right to convey same, guarantees quiet possession thereof, and that he will warrant and defend the title against all lawful claims. The words ·•conveys and quit claims" duly signed, sealed and acknowledged by grantor are sufficient to convey grantor's interest. The words "mortgages and warrants" and duly described premises, specifying "to secure the payment" and recitina: the sum for which mortgage is given and the notes and other evidences of debt secured thereby, mortgage being dated, signed, sealed and acknowledged by grantor, is sufficient and warrants perfect title in the grantor and against all previous incumbrances; omitting the word "warrants" sufficient, but without any warranty. Dower and homestead rights not waived unles wife joins in the mortgage. No homestead right will avail against the mortgagee if there is no wife, nor if wife joins in the mortgage .• l\farried women of full age joining with husbands in any deed, mortgage, power of attorney or other writing, shall be bound in respect to their own title. Corporations. Banks, mining, manufacturing, insurance-fire, marine. accident, burglary-printing and publishing, manufacturing and mercantile, or a union of the two, partnership associations, real estate associations, real estate, railroads, street railways, co-operative benefit associations, co-operative savings a., ociations, and religious societies, are respectively organized under State general laws; required to file with the secretary of state, article of association. Business Corporations. Three or more persons may organize. One half of must be actually subscribed and at least l U per cent either in money or property must be paid in; if in property same must bo for the purpo. e of the busine . , and described and its value specified in the articles. Stockholders vote in person or by proxy. Each share has as many votes for directors as directory numbers, and the aggregate vote may be distributed for one or more of directors. l\'lay issue preferred ancl common stock of the par value of $10 or $100. Preferred entitled to dividend not to exceed per cent quarterly, semi-annually or annually and if not paid bo accmnulatec!. and paid, before any diYidend paid on the common. Articles of association to be recorded in the county clerk's office of county where operations carried on. and office of the secretary of state. ~ lay hold real e tate for the purpose of the corporation and such a.'> acquired as security or in payment of debts, managed by not Jess than throe directors chosen by the stockholders annually hold office until successors are chosen; make duplicate reports in Janua1·y or February annually for the fiscal year last ending, of the financial condition and property of the corporat,iou to secretary of state: stockholders arc liable for labor debts; they maim all by-laws for corporation. Foreign corporations organized under the laws of any other state of the United States or f any foreign country, unlawful to carry on business in this state ntil certificate of authority procured from secretary of State; not capable of making valid contracts in this state until authorized to carry on business; unlawful for any person to act as agent of until authorized to do business. ales of goods or merchandise by the right of inter- tate commerce not affected by state laws. Courts. Terms of Jurisdiction. Circuit courts, holding two or more terms annually in each county, have original jurisdiction in all cases of law and equity wherein the amount in controversy is 100 and upwards; and have appellate jurisdiction from justice of the peace probate courts, and other inferior tribunals. Justice courts in each county have jurisdiction of cases at law involving from 100 to $500. _In Gr~nd Rapids is <:1- "Superior Court" for civil cases, limited ~o par:ti(!s resident of the city. Probate courts in each county have Jur1sdwt1on of estates of deceased persons and testamentary trusts ~upremc court has final appellate jurisdiction from circuit, munei1pal and recorders' courts. Days of Grace. Abolished. Depo. itions. Testimony of any witness without tho fltate of more than _flfty miles from the court may be taken de bene e. se, before any Jud~e of any ~tate or of the United State·, or of any foreign ountry, or before any circuit court commi. sioner in this or anv other . tate, or of tho United tates, or any commis. ioner of this ta'i:e any consul _or consular <?ff~cer, justice of the peace ofilcer, or notary publfo aut,honz<;')d to adlnimster oaths in tho state or county where talrnn aucl not mterested as attorney or counsel or in the event of the cau. e· reasonable notic~ given in writjng by party or his attorney proposing to_ take to o_ppo. 1te party 01· his attorney of re ord, stating name. ol' w1t-nesses, t,1me and place of taking and official before whom to be taken. 0!}lm~ssions to take depositions of any witne sc: mav be 1sst~ecl ~)Y c1rcmt court wl!ere)n the suit is pon~ing or by the judge or rer::1stm ~hereof, oi: by a Justice of the peace m a suit before him on ,\TIU.~n mtcrrogat1ves. Fees for taldng, certifying, sealing and 2; for each 100 words in deposition ten cents and COllie three_ cc~t,s .. Each part~ pays for his own examination or cro~s exam1Dat1on m tbe first mstanct. · De cent. Real estate and personal property of inte. tate after fc;1i~v~~t of debts and administration expenses and allowance , as Federal Reserve Bank of St. Louis  1902  BANKING AND COMMERCIAL LAWS-MICHIGAN  . Real Property .. One-third to widow, remaining two-thirds to bis L<;.'>ue; if no widow t,he. whole to his issue to hare equally if of same ~egree of kindred to mtef>'tate, otherwi ·e by representation· if no 1s ·ue, hu band or widow to the father and mother in equal' shares if. only one livi_ng to the survivor alone. If sur\'iving husband widow and no issue, one-half to such survivor, remainder to father a~d mother or their survivor. If no issue or parents, husbands or widow, equally to brothers and sisters anu the cbiluren of duceased brothers and ;;isters; if none ucb relatives, to next of his kin in.equal degree through n!:'arest ancestor; if any unmarried chilu dies under age, his or her inheritance from any parent, to other surviving children of same parent and their issue by repre:sentation. If husbanu or wife survive and 110 issue, pa1·ents, brothers or sisters, or their children to husband or wife, and if D'> foregoin!!; relatives whom:;oever estate escbeats to .'tate. Jllegit1mat,es heir to mother; dying intestate estate descends to mother or her relatives if she be dead· become legitimate by p,irents, intermarriage or father's written 'acknowlment. The foregoing provisions for the widow are in lieu of dower and hom_estead rig~t unless one year after administration granted she _applies ~or as·1gnment of dower and homestead in which <'a, e her mterest 111 deceased husband's lands is limited to the dower and homestea~ right and the residue shall descend as above provided for that portion not taken by her. tersonal !•:state. Residue - one-third to widow, t,vo-thirds to ch1lclrc11 or issue by repre en tat ion; one child; one half to child and one-l_1alf to widow; no widow or child, to all lineal descendants equally If widow and no children or issue, to widow, not exceeding $:J 000 · estate exce.-;s of that, one-half exce ·s to widow, other half to surviving parents, and if none such to brothers or sisters; and none ,'UCh, all su<'h e.-cess to widow. Married women intestate, one-third to husband, two-thirds to her children or their issue by representation only one child or issue of deceasert child; to husband and such child equally; if no child or issue of decol\!·ed child, one-half to husband anq other hall' to surviving parents, and if none. to brothers or sisters or issue of them and if none, all to husband. In any other case same as for real property. Estates by curtesy aholished. Do,ver. Wife entitled to use of one-third part of all lands owned b,Y her husband. as estate of inheritance any ,time during marria~e. .. o dower as. against mortgages for purchase price, or mart.gages made before marnage, except in surplus. :\lust exercise option to take dower in lieu of rights under will or statute within one vear after administration: residing in this State and eighteen yea,s of age and upwards may bar hy joining in hu hand's conveyances and mortgag-es or hy deed alone to one wbo has husband's title, intent to bar being expressed; or by jointure secured as bar. . :ExcC'ution. l\Tay issue to any county at once, unless stayed after Judgment in circuit court, in ju -t,ice courts, expiration of tlve da:rn: not liens on real estate or personal property until levy by proper o~cer. Heal estate is sold without appraisement t,o the highest bidder, except. homestead, to determine excess of Yalue above 1,500 re!le1:11ption claim. Defendant or his heirs or assigns mav redeem 'Y1tbm ~w~lve months, his judgment creditors and others having valid hens w1thm fifteen months from date of sale. Execution against the body may be issued on all judgments in actions of tort. Personal property levied on, after . etting oil' exemptions, may be sold on 'ix: da~s· notice at public sale, to highe, 't bidder to a sufficient amount to satisfy tho deht and costs; no redemption after such sales. Executions from justice courts do not run against real estate. Exem1>tions. Homestead-selected by the owner and occupied by hi1?; not, exceeding forty acres of land and dwelling thereon; or one lot with dwelling thereon within any recorded town plat or city or village not exceeding in value 1,500. Same cannot be alienated or incumbered without consent of wife or sold on any execution or any other final process from any court, unless appraised to exceed the value of U>OO and that amount is paid or realized on sale under such proces . ExP.rnption of home·tead continues during iis occupation by the widow or minor children of docea.sed person who when living occupied the same.· Fraud. Criminal fraurl-obtaining the signature of any person, firm, or corporation with intent to defraud. Fraudulentlv Lsuing or selling or duplicating anti disposing of any stock, scrip, or ·evidence of debt of any bank or other inC'orporated company of this tate; i: ue of a!lY false receipts hy warehou. emen. merchant·, or their a 'eDL. receipt; or to wrongfully dispose of or convert property to their own use after issuing receipt; wrongfully removing or disposing of anv personal property by any a~ent delivered upon written agreement or lru:tructions; wrongfully to dispose of proper y covered by chattel mortgage by mortgagors or of property lleld by contract or purcha.<;e without legal title hy such purcha: er or of property held under any lea: e by lessor. For any otlicer or stockholder of any bani, or any o~her person for such bank; to ign, i"sue or l nowingly put, in circulation any note or bill of any such bank, before the capital sto<'k is p~id in, or before the pre.,ident and director. thereof ha.Ye cornpli d with the law; for any olIJcer or agent of any bank kuowing ·uch bank to be insolvent or in contemplation of insolvency, or for any a ·,;ignee of the property of such hank to sell or di:po e of any money or property of such bank with intent to defraud. delay or hinder credit r. thereof, or for any agent or per. on to fraudulently obtain or dispo ·e of any money belonging to any Insurance company organized in this State. Frauds-Statute or. ~ 'o executor or administrator is liable on any special promise to answer damages out of his own e.....-tates. Fraud, Civil. Sale, , transfer:s, and assignments of stocks of goods, wares, merchandise, and fixture.~ in bulk, pertaining to conduct of any busine. , otherwise than in ordinary course of trade of ·eller, etc., void a~ against creditors, unless the seller, etc., tlve day· before ale, make inventory of the goods and co~"t price to seller of each article and unless the purcha.ser demand, from seller li.'t of names and addre ·ses of creditors and his indebtedne" , and within five days before taking posse··ion and payment notifle· every creditor of such sale. . Garnishment. Process may i sue in any action brought in any Justice court or circuit court on contract expres: ed or implied, juugment or dec!·ee, to bold whate,·er P.roperty any person may own or have bolongmg to the debtor. Bills of exehange and prom· ory notes due In the garnishee's hands at the time of serving :;ummons are garnishable. Property, real. or personal, things in action, equitable interests, held by fraudulent, transfer from the debtor and any property liable to execution or to the payment of the debts of the debtor in the garnishee's hands may be reco\·ered: wages of any householder not more than 30 and less then SS for his personal labor, and of any other person for labor not more than 15 and not less than $4; and benefits payable by fraternal beneficiary societie. , share in building and loan as<;ociation of any debtor, except as to one having a homestead exemption, are exempt from garnishment. Holidays. (Legal) January 1st, February 12th, February 22d, May 30th, July 4th. first 1\londay in eptember, 'fhanksgiving Day as specified by the Governor of ·tate, December 25th; every. aturday from 12 o'clock noon to 12 o'clock midnight, all .:ational, tate, County, or City election days. Husband and Wife. If sued together she may defend and if either neglect to defend the other may be ordered to defend for both. If he deserts her she may be authorized by the probate court to prosecute or defend in his name. If either wrongfully retains the other's property, acquired before or after marriage, the owner may sue for  or  same_ as if w11narri~d. ~ -either liahle for the debts of the other before marriage, nor earning-: or properly of either nor the income thereof nor shall either be liable to make compensation for labor or sen ices rendered for the other. Husband is liable after marriage for family !)XPe!1ses, and for deb incurred by the wife with his expre.,s or 1mphed 3:uthority. Either may constitute the other an attorney in fac~ to d1spo,·e of property. E. penses of famil~· and children's education are not_ chargeable upon the property of the wifo hut are chargeable agamst t,he husband and he may he ued therefor. Intere:t. Legal rate 5 por cent but hy written aisreement may be charged not to exceed 7 per cent. Forfeiture of all intere·t is penalty for usury. "'hen any installmeut of interest upon any not-0 bond mortgage or other ,Hitten l'0ntract shall become duo· and r'emains unpaid, interest is allowed on such irn,tallrnent from th(• time it became due at rate specitled in the obligation or al tht• legal rafe. Legal rate colle('tahle on all monc~·s due on any written obligations and on all mc:>neys due on all contract. exprc :s or implied. whether verbal or written; and on s_ ttlement 9f a<"count, from day of a ·certaining !Jal, nee due: and on Jtlflgmeut from day of entry; and on verdicts of Jl}rY frlll1:J date to dato <?f entry of judgments thereon. In computing trnrn of mtere: and d1. ount on negotiable paper, a month means a calendar mouth and a year a calendar ycnr of twelve months. Judt:"mcnts of court of record are not lien· on real estate or personal property until li)' levy thereon of execution i sued from the courts upon _such jud~ments. Lien,; under e ecution le, ied upon real !)st_ate_cx1s_t five years from and after the le,·y. Judgment expire by lu:rut,atton. 1n. te~ yea1 from elate of entering in court of record and six years m Justice courts, and cannot he renewt>d e cepL bv action at law thereon before expiration. Judgment· of the ju tice of the pea<'c may be entered in the cir<"uit courts on tran<:cript, duh· taken to the circuit court and thereupon become judgments or such circuit courts. Liens. Any per,~on, who pursuant to a contract with an\' owner part owner or lea ·ee of any lauu, furni;;he · labor or matcrhil.· in the con ·t,ruction of a huildini:;, etc .. on such land, 1-hall lia ·e a lien on ·ach struc ure and laml to the l'Xtent of one quarter ection or if in a citY or ·illage, the lot or lots upon which ·uch structure b. it11ated. nd any sub-contra ·~or, who furni~hes materials m· _labor in earrying foreward or completm::t such contract shall hM·e a lien upon ·ucll buildin" an~ land to the extent of the inter<> t of ;SUch 0\~uer. etc. A11y per:on~ art! an, or tradesman for labor and skill apphod upon uy property <lehvered for that purpose shall have a prior lien for amount due for such labor. Hotels, boarding h<mse. and lodging hou cs have a lien upon bagga~e and other valuable ~f guests, bqarder;; or loclg<'r for a,·co1i:u11odat1ons. ny p rson keepmg and carmg for dome ti· animal· rntru,-,ted to t,hcm for that purpose have a lieu for prupPr charires. 1 1 0 1 ju j~dg~~.\~t.' si~ ~~~~r:~~t~tgto~~~l-tsagJ rl~~r ~~~ l~ett~;. simple contracts and for takin~. detaining or injuring good, and chattels, si. years from the date tlle ar•tion acrrued; revi ·or; part payment, or promi!,:e in writing to pay. b onces from tlll' State deducted from the period of limitation. _ Io1•trrao-o flfto n year.;; 0 1 1I ~~ndrb;~\~~;~1\1~a)i!:~~~~t 1i!~ci'e;:;~ Pt•o~~, - ~r amt mal-practlce against phy.·iriaus, surgeon , and cl ntist:s two years. For ~ni c~ncluct of ·herifl or their depu i . , thr (I years, a 1<1 for personal rnjuries thr e yea1._. For ~he r ·o, ery of r al property, fl, c .:v~aI.' where the claim ari ·e,; ag-am..t ex •rutors, uardiau's or hc1:1fl' s ~leed; five years 11 r tl,e d fondant claims 11d 1s in posi;e 'IOn of lands under deed made by auditor Ken ral or thi .'tate for taxe ; an by minm and o hers under !e~al di abilities three Years aft<'r remo, al of u ·b di. ·abiliti s; in all other ca:; · fin '011 year-: Limited Partnership-.. . lay consist of one or more general and one oi: m~re spe~ial partner . 'pedal· contribute specillc amount of capital Ill or property at ·ash value, and if actunlly paid in not liable for flrm'. dehts in exee of uch special capital. (.,oneral partner· transact the bw·!nes' of tbe firm. Iarried \\'omen. , fay make contrac · in r spect to their own property and may hold and enjoy, and have the ame right! and remedie re.,.arding their property as if unmarried. The • may carry on husines,, in their own name 'l\ith thelr own property by con ·ent of their husband ; cannot enter into partnership with bu band or any other person and become liable for the firm contract,,. , [arried women'. eontracts to pay or to become liable for debts of hu·hands or other person -. oidahle, may howe, er charge their real e ate or peronal property to secure uch indebtedne ·: by deed, mortgage or contrac-t. • Tarried women arc entitled to have and to hold their t1lfer~:~i-r own per ·onal effort, and may make any con:\lort 1.mi::e~ on real e tate, executed and acknowled ed tho ame as deeds; may be forc<'io · d under power of sale bv a\h·erti ement or in cir ·uit court in cham·ery of the county wherein the property is ituated. TrtLst deed not in cus omary use but may be made and executed and will be treate1l a mort"a"e . hattel mortgage· and bm · of ale; intended a · . ecurlty by mortgae;or, igned and deliverPli to the mortgagee, ufficient Jptween the partie . but void a to creditors, ·ubs quent pur ha: ers and encumbrancers in good faith and without notice. unle · uch mortgages and bill· of sale or true cople are llled i.u the city or town, hip rt rk' office where mort~a"'or re'ide , or if non-resident of 'tate. in <'it,. or to\1 nship where the property i, ituated: and nn!e., affidavit o(mort agor or of some one for him having knowledge of the fa<'b is annexed to the mortKage or bill of . ale, .showing con ·ideration i a1·t ual and adequate and in good faith. Without sul'b amdavit offt ers forbade to re<'eive and flle i;uch mortgages; cea.,e to be valid again t l'reditors. sub:equent purch ors, and encumbrancers in good faith. on e. piration of year from fllin2: date, unle r newed within liirty day, next preceding expiration by affirlavit of mortgagee , howin • JJI;; intere t, etc .. llled and anne. ·ed to the mortgage in , aid derk' ofllc ; likewise each succeeding year whJle U1e mortgage exi t, . • ·cgolia.ble ln-.tru1n nt. . promi , ory note i.· an un ouditional promise in writing to pay a sum certain in money, on demnud. or at a fixed nn<J determinate future time. to the order of n specifled person or to bearer. A bill of e.·change l · an unconditional order of one per on to another requiring the drawee to pay to a certain per on, or order, or hearer on demand or at a fixed or determinate fuiure time a certain sum or money. • lay be payable in installments and contain pro\·isions that on deft ult the whole . um of money shall become due with exehange, fl ·ed or current rate. intere t and attorney' fee for collection. ~ 1aY authorize sale of collateral· and confes ion of jndgmen . If it reads "l promise to pay," all makers are jointly and everal!y liable. Must not be payable upon contingency. { annot waive exemption from execution. ~ Teed not specify "for value received" nor place where drawn or payable. If i ·-ued, ac epted, or indor ed, when over due is payable on demand. .. Iny be payable to two or more pavees jointly or one or more of several payee. . "·ant or failure of consideration, a defon:;e agairu t one not a bolder in <lue cour::;e, partial failure a deferu e pro-tanto. Ono not a party, or the payee of the paper placing a ignatnr In blank on the paper before delivery becomes an endorser. lndorscr ngage. on due presentment the paper shall be honored and that he will pay to holder or any ub equent indorser, who may be compelled to pay; where maturity fall· on 'unday or on a holiday, payment due on the ne t busine: day: but h re all of such day not a holiday may if payable on demand be pr entcd before noon.  'tt!: ~~}!~  ~r~~~11  r~gL~~:1~fi:  i~l;[~~r,  ~b~ls  BANKING AND COMMERCIAL LAWS-MINNESOTA  1903  Fraud in procuring signatures and delivery defen. e against any SYNOPSIS OF holder. Presentment not nece sa.i•y to charge anyone primarily liable. If not payable on demand present on the day due; if on demand present within a reasonahle time af'ter issue; bill of exchange payable on demand present reasonable time after negotiation. Fraudulent or material alterat.ions do not affect the original instruments in the hands of innocent holder in due course. RELATL 1 G TO Unconditional promise in "Titin~ to accept a bill of exchange, given before or drawn, valid in favor of nil who take it upon faith thereof for valuo; holder may decline qualified acceptance: if he takes qualified acceptance, drawers and imlorsers are di charged . BANKING AND COMMERCIAL USAGES Protest of foreign bills of e.·change may he maria by a notary public or any resident of the place of payment. in the presence of accepts. he unle.;,s liahlc not is drawee es; witnes creditable more two or Check or a bill of exchange on a bank payable on demand, mu ·t be presented rca..--tmable time after is ue, and if dishonored notice must Prepared and Revi. cd by 1LOORli:, OPPENHF.IMER & PETERSON be given or drawer is discharged to extent of loss causcci; does not Attorneys at Law, St. Paul. (. ee ard in operate to assign any part of drawer's funds : bank i ~ not liable unless Attorneys' List.) it accepts or cerWles. If holder has check certified drawers and indorsers arc discharged. The prm,ent negotiable instruments law of Michigan took effect Acknowledgments may he certifled by the following officers : Sopt. l(i, 1905, and rupoals all acts or parts of acts incon. istent with 1. WiLhin the tate by a resident jud •e, clerk or deputy clerk of its provisions; but does not apply to instruments made prior thereto: court of record therein, a. notary public, just ice of the peace, any materially chan~es the law in this State and should receive ·pecial town, city or village clerk, or recorder, court commissioner, register of examination in every doubtful c~·e, deeds, or county auditor, or their deputies, county commi . . ioner. or !most every act that any person, firm or Powci: of Attorney. member of the legi.-lature. 2. Out of the 'tate but in the corporation may perform, may be performed by an attorney in fact. , tates by a judge of the supreme. circuit, or district, courts of th ConveJ ances. mort~age . or lea e for more than three year·' term United States, or of any court of record of any state, territory, or di by attorney in fact, the power of attorney must be in writin,,. .·igned, trict, the clerk or a deputy clerk of any. uch court, a notary, a justice of the peace, or any commissioner appointed l)y the goYernor of this sealed and acl·nowledged same as a deed of lands, to be admitted for record or to proof thereof. State for that 1mrpo e. 3. Tu foreill,'n countries by a notary public. or by any minister, charge d'atraires, commi. sioner, consul, ·ommer ial Probate Law. (See Administration of Estates.) agent or other consular or diplomatic officer of the lhlited States I>rotc!'lt. ( ee Tegotiable Instruments.) apJ?ointcd to reside in such country, and deputies or other reprosenta~n·e:s of such officers. The form of the certificate may he, "< n Replevin. Goods or chattels wrongfully taken or detained ma.y this .......... day of ..... . ... _.. , l!l .... , before me personally be replevined by owner or part owner or party entitl d to possession. appeared . .......... . to me known to he the person described in, ~fficiavit or plaintiff or agent necessary for is ue of writ. If from aud who executed the foregoing in. trument and acknowledged that circuit courts plaintiff required to give bond with . ulllcient sureties he e. ocuted the same as his free act and deed." In case of corporato the otlicer , ithin twenty-four hours after seizure and appraisal of tion it may be, "On t,his . . . ...... . day of ......... 19 ..... heforo me t~e propert.~· which mu. t not be delivered to plaintiff within fortyappeared A. B. to me personally known, who boing by me duly sworn e1gbt hours; and in the meantime if the defendant ball give sufficient did say that he is the presicient (or other ofllcer) of (name of corporabond to the officer he shall return the property to the per ·on tion), that the seal affixed to the foregoing in. trument is the corporate from whom he took it; in that case if plaintiff recovers he may recover seal of said corporation and that said in~:trument was executed in on tho defendant's bond; if he fails defendant may recover on plainbehalf of said corporation by authority of its board of dirnctor.', and tiff's bond according a:· tJ10 judgment may warrant. In ju .tice courts said A. B. acl nowleclged said instrument, to be the free act and deed bond with sufllcient . ureties must be given and filed in double value said corporation." If made out ide the . tatc the imprcs. ion of the of issues. writ of the property before seal of the certifying officer must be affixed, or there mu be 1: axes. State and county payable every year after December 1st, ofllcial the certificate of the clerk of a court of record of the county attached delivered to county treasurer l\larch 1st, thereafter. and if delinquent or disLrict in which it is made under his seal that the signature of the bear interest l per cent per month. Returned to audit.or general of officer is genuine. • certifyin Stato, if not paid, and hy him enforced by forcclo:ure in hancery in Actions. The distinction bet, ·een actions at Jaw and suit in every county, and the ta.·able property sold under d ere• of the There is only one form of action. It is called abolished. is equity ' and taxes of amount the for parcel each court by couJit.y treai-urer a ciYil action and must he prosecuted in the name of the real party charges again5t same: redeemable one year thereafter and doe.· not in interest e.·cept that executors. administrators, trustee of an e.·pre. bec_ome ab. olute proceeding taken by purch er for writ of t,ru t and per·ons expressly authorized by statute may sue without w ~1stance, which must be instituted within five year' by .. ervice of joining the person fot· whose benefit the suit is hrought. wr!tten notice upon owners six months before application for 'UCh writ. If decree regular and property taxable, and due notice is given Ad,ninistration of E tates. Estates of deceased person.· are an<! . erved, IHlI'Chai er is entitled, upon due proof thereof to writ of administered in probate courts of which there is one in each county as. !Stance and posse. sion w1less redeemed pending the notice by 1 presided over by the probate judge of the county. payment, of double the amount paid by purchaser and 5.00 for each In r{l'anting letters of administration preference is given: 1. 'l'o ity ta. e are governed by charter or by the parcel redeemed. the surviving spouse or next of kin or such suitable person as they general act under which cities and villac:res are organized. or either of them select. 2. If no application is made for thirty days after death of intestate, to principal ·creditor or creditors, or Wills. Codiclls. Every person of full age (twenty-one years) and some person interested, and if deceased was native of forei,:rn country of sound mind may make; must be in writing, signed by testator or by to the consul or other representative of that country residing in this some person in hi.· or her presence duly aut,horized by him or her and State, or to such competent and :-uitable person as he may select. attested and subscribed in his or her presence by two or more witnesses Upon granting letters the court makes an order limiting the time competent as such at the time. If one of the ub. cribing witne ·sos which creditors may present their claims. This time must within shall testify to t.11e execution of the will in all particulars and tc ·tanot be less than six or more than twelve mont,hs; but may be ext.ended tor wa.., of sound mind at the time will was made, the court may for good cause to a date not more than eighteen months after notice adruit the will, in case no person appears to con t it: if none of given of the order. On proof by affidavit that there are no debts the ,vitne. ses reside ht the State at the time of proving the ,viii, the the time limited may be three months. Notice of the order Is given court may admit the testimony of other witnes.·es to prove te. ta.tor's by publication thereof once each week for three weeks In a newspaper sanity and execution and proof of the si,:mature of tc tator and subin the county. Claims not presented within t.ime limited are barred. scribing witnc ·ses. Probate of will cooclush e of It due execution executors and administrators may sue in this State. Non-resident to admitted duly wills. Foreign collaterally. d ail a, and cannot be Probate without the ,'tate, may be admitted and recortlod in any Alien . (See right to hold property.) county of the 8tato In which testator left real or personal estate by Arbitration. All controversies which can be the subject of a civil duly tiling, an e. emplified copy of said will and of the record admitting action may be ubmitted to one or more arbitrators for deci ion. saruo to probate. A nuncupative will in which the value of the e,,tate a claim to an estate in fee or for life in real estate. except may witnesses, two by proved duly $:300, d bequeathed does not oxce Arrest. There is no arrest for debt. be allowed. , 'ills may be revoked by burning, tearing, cancelling, or obliterating wiLh intention of revoki11g same b:r t~ ·ta.tor, or by .-ome Assignment. . Statutes relating to assignments for the benefit or other writin"' signed, attested, and sub cribed !n t)1e m_anner I'rov:ided creditors are in force except as atrected by the U. S. Dankruptcy Act ror execution of •ills but shall prevent revocation 1mphed by aw. or 1808. Practically they may be said to be superseded by that act. Attachment. Before allowing a writ of attachment, the court must require of the plaintifl' a bond in the ,'Um of at least $250, and an alflclavit of the plaintif?, his agent or attorney. (1) That the debt was fraudulently contracted or (2) the defendant is a foreign corporation or non-resident or (3) has departed from the State as he believes with intent to defraud or delay his creditors, or to avoid the. ervice of a summons or koeps him elf concealed therein wit,h like intent or (4) has ai signed, secreted, or disposed of his property with intent to delay or defraud his creditors or is about to do so. Bank!'!. Three or more persons may incorporate as a bank. Thoy must first secure from the state securities commission a certifll'ate of authorization, which is granted or denied after a hearing and introduction of evidence. Capital required is $10,000 in towns of 1,000 or Jess population; $15,000 in towns of 1,000 to 1.,'>00; $20,000 in towns of 1,500 to 2,000; and $25,000 in towns exceeding 2,000 popu- Federal Reserve Bank of St. Louis  THE LAWS OF MINNESOTA  Ct~~b~l~~i:~~t ~::it'll  1g  u~t~d lta~1!s~o~ea~~~sb~~\;;i h3~!i~~es..__ca • an additional amount equal t,o the par value of stock owned by them, and this liability continues one year after any tran fer of the :-,;tock. At least ono-flfth of the net profits must be placed in surplus fund before any dividend is paid until the surplus amounts to 20 por cent of the capital, and this surplus must be maintained unimpaired. Every bank must make to the superintendent of banks not less than four reports each year which must be published. Liabilities to a bank of any person, corporation or flrm, for money borrowed, including therein liabilities of the seYeral members thereof, hall at no time exceed 15 per cent of its capital and surplus. It must have a reserve equal to one-fifth of all its matured or demandable liabilities one-half of which must be cash, and the remainder may be balances due from solvent banks. In Ca.<;e of insolvency or violation of the banking laws ~~~riuF0~1;>-t:ic~T~!r ~f banks may take po es.sion, and apply to the tiv~l~pr~f J'o~d 1fJ J,.;_ The Uniform Bills of Lading Act became effec1 1 _In!tial Carrier re<:ehring property for transportation between points w1thm thE: tate, hable for lo. , damage or injury cau ed by it or ~~~J: carrier en route. and all contrary proYisions in Bill of Lading Federal Reserve Bank of St. Louis  1904  BANKING AND COMMERCIAL LAWS-MINNESOTA  Chattel ::\fortgages. Every mortgage of personal property which in part by debtor not exceeding in value $400: library of professional is not accompanied by immeiliate deliv0ry and followed hy actual and man: presses, type, and tool5 of publisher of newspaper, not exceeding continued change of posses~ion is void a'i to creditors and subsequent 2,000, and his stock in trade not exceeding $-100; watch, sewing purchasers and mortgagees in good Caitb. unless it is made in good machine, typewriter. bicycle, seed for use of debtor for one season not faith, attested by two witnesses, acknowledged and filed with the exceeding certain amounts . library and apparatus of college or school; register of deeds of the county in which the mortgagor resided at money payable to wife or child from insurance on life of deceased husthe time of its execution, is a resident of the State, or of that in which band or father nor exceeding $10,000; money or relief from benefit the property was then situated if a non-resident. If the mortgagor association: money from insurance on exempt property; wages not resides in St. Paul, Minneapolis or Duluth or is a non-resident, and exceeding $35 for services rendered during preceding 30 day. : but all the property is situated there. the mortgage must he Oled with the wages paid and earned within said thirty day period shall be concity clerk of such city instead of the register of deeds of the county. sidered a part of (or all) of said exemption (Chap. 202, Laws 1915.) Duplicates or copies certified by any oilicer with whom the mortgage Holidays. January Jst,, February 12th and 22d, Good Friday, bas been properly filed, may be filed in other places wherein any part of May 30th, July 4th, first Monday in September, Tuesday after first the property was situated when the same was made. As against Monday in November each even-numbered year (election day), creditors of the mortgagor and subsequent purchasers and mortgagees ' ovember llth (Armistice Day), and De<·eml>er 2iith are legal holiin good faith the lien does not continue beyond the term of six years days. Thanksgiving day is so far that negotiable instruments or from the date of flling the mortgage unlei;;s the indebtedness is not contracts due that day are payable next succeeiling business day. then due and payable by it. terms. in which case it continues two years after the maturity of the debt and no longer. Interest. Six per cent is legal rate, but by special contract any Chattel mortgages gfren by a married man or woman on property rate not exceeding 10 per cent may be exacted. Usurious contracts ex:empt from execution must be executed by both husband and wife are void. if living. Judginents may be entered by default in district courts at expiraConl'eyances. Deeds and mortgages of real estate must be exetion of twenty days after service of summons. ·when do keted in those cuted in the presence of two sub cribing witnesses and to entitle them courts they become liens upon all real estate of the debtor in the county to record must be acknowledged hy the per on executing the same. where docketed then owned by him or afterward · acquired, and the Conveyances made out of the State, may be executed as abO\·e, or lien continues for ten year:- after the entry of the judgment. '.rranaccording to the laws of the place of execution. scripts of judgments in justice and municipal court · may be filed in district court and there docketed, and then become lien on real estate. Corporations. May be organized by any number of persons. not Liens. To preserve a mechanics lien a Yerified staterne11t must less than three, for the purpose of engaging in any lawful business. be fl.led by the lien claimant within ninety days after furnishing the The amount of capital stock shall in no case be less than . 10,000, last item of labor or material in the office of the register of deeds of divided into shares of not less than . 1. 00 or more than 100. The the county in which the improved premi: es are situated, or if claimed incorporators must sign and acknowledge a certificate specifying: 1. upon a line of railway or its appurtenances with the secretary of state. the name, general nature of business. anrl principal pla"e of transacting The lion may be released hy a court order on deposit \\ ith the clerk the same. 2. Period of it duration, if limited. 3. Name. and places of the District Court of a sufficient sum of money to protect the lien of residence of incorr>orators. 4. In what board management is claimant, and anyone interested in the property may bring an action vested, dato of annual meeting at which such board shall be elected, in the nature of an action to determine adYCJ. e claims to n•moYc the names and addresses of persons composing board until first. election. 1icn. Action to foreC'lose the lien must he commenced within one 5. Amount of capital stock, how the same is to be paid, numoer of year of the time of tho filing of the verified ·tatement. shares and par values of each, and if more than one class, a description, and terms of issue and method of voting of each. 6. Highest Limitation of Actions. On contracts expre, or implied si."'C This subject. he amount of indebtedness to which corporation shall years; judgments ten years; to foreclo e mortgages fifteen years; to certificate is filed with the secretary of state and with the reg-ister recover real estate, fifteen year·. But no action hall be maintained of deeds of the county in which the principal place of business is on a judgment note, or other instrument authorizing Confession of located and published in such county two successive days in a daily Judgment unless begun within one year after Cause of .Action accrued: newspaper, or two successive weeks in a weekly. and no action shall be maintained upon any judgment of any court of Every stockholder in any corporation, except those organfaed for U. S. or of any State or Territory entered by Confe~sion under a the the purpose of carrying on a manufacturing or mechanical business warrant of attorney, unle s the action upon such judgment be begun is liable to creilitors of the corporation in an amount equal to the par ono year after the rendition or entry thereof. within value of the stoclc owned by him. Married Women. Property acquired by wife hefore or after marForeign Corporations. Every foreign corporation organized for riage remains her separate estate. It is liable for her debts and torts pecuniary profit before it can transact or continue business in this to the same extent as if she were unmarried, and she may make any State, acquire, hold or dispose of property or hring suit here must which sbe could make if unmarried, except that no conveycontract ervice accept to authorized State, the in appoint an agent residing ance or contract for sale of her homestead or any intere ·t therein is of process, and must file with the secretary of state an authenticated valid unles her husbru.1d joins in the same. copy of such appointment and of its charter and a verified statement Both husband and wife are liable for neces ·aries furni. heel to and showing the proportion of its capital stock repre 'ented by its propert.y used by the family. and business in this tate. and upon that it must pay a fee. This act does not apply to exclusively manufacturing corporations. traveling on real estate executed in the pre.·en<'e of two subscribl\Iortgages salesmen soliciting business for non-resident corporations. nor to those ing witnesses, acknowledged and recorded in the office of the register engaged only in the business of loaning money or investing in securities, county in which the mortgaged premises are situated the of deeds of nor to those organized to raise and improve live stock. cultivate farm·, may be foreclosed by publication or by action. The mortgagor or his can fruits or vegetables, nor to those whose sole business is transporwithin one year from the date of the foreclosure redeem may assigns tation of freight or passengers by water. ale. Courts. District courts hold one or more terms a year in each The authority of an attorney conducting a foreclosure by adverorganized county, have original jurisdiction in all civil actions at law tisement, must be in tho form of a Power of Attorney, executed and and in equity, and in all criminal cases where the punishment exceeds acknowledged by the mortgagee or assignee in the same manner as three months' imprisonment or a fine of more t,han 100. a conyeyance and recorded prior to the sale in the County where The supreme court has appellate juri'>Ciiction in all ca es, hut there the foreclosure proceedings are had. is no trial by jury in that court. It has original jurisdiction in such The mortgagor may covenant to pay or authorize the mortga!?.'ee · remedial case as are prescribed by law. to retain any attorney·s fee in case of foreclo ·ure of not exceedin~ Probate courts have exclusive juri5diction of matters connected 2,3; where the mortgage debt does not exceed . 500; . iiO where the with the settlement of estates of deceased person.', minor . and insane mortgage debt exceeds 500 and does not exceed 1,0 O: 7,5 where per ons. Terms are held on the first Monday of each month in each the mortgage debt exceeds 1,000 and does not exceed . ,3,000: 100 organized county. where the mortgage debt exceed 5,000 but doe not exceed . 10,000; Municipal courts exist in certain cities. anrl are courts of record with and . 200 where the mortgage debt exceeds 10,000. limited jurisdiction in civil and criminal actions. A Registry Tax of 15 cents is impo ed upon each 5100 or fraction Justices of the peace have no jurisdiction in civil actions where the 0 ~~i;e~ S;i~h:h~rk~~fea~ttr\!~~~r~ ~irda~:c~3~~gi~es~?ct. e~i~i/ r a.mount involved exceeds $100. case the maturity of any portion of the debt ·o secured shall be fl:recl Day of Grace are aboli hed. at, a. date more than five yearn after the date of said mortgage, the Depositions may be taken at any place within or without the amount of such Regi try Tax shall be a.t the rate of 2,3 cents on each State upon notice in writing, stating the reason for taking the same, o such mortgage or a ignment or satisfa<:tion thereof or 100. . the time and place, and giving the opposite party one day for prepapapers relating to its foreclosure, shall be recorded or registered unless ration, and one day for every 100 miles, exclusive of Sundays and such tax has been paid, nor shall any uch document or record thereof the day of service, before any officer authorized to administer oaths. be received in evidence in any court or have any validity as notice or Descent and Distribution of Pro1,erty. Homestead descends otherwise. If such mortgage describe real estate outside of .Minneto surviving spouse for life, remainder to children and i sue of deceased such tax shall be imposed upon such proportion of the whole sota. children. If no children or issue of deceased child, then to surviving debt secured as the value of the real estate described in this State spouse in fee, exempt from debts not a valid charge thereon at time of to the value of the whole real e tate, such value to he deterbea1·:s intestate's death. After pavment of debts and certain allowances to mined by the tate Auditor upon application of the mortga~ee. the surviving spouse out of ·the personal property, the re.sidue of tte ~otes and nills of Exchange. Uniform negotiable Instruments e tate descends as follows: 1. One-third to the surviving spouse, ·ommercial paper is Law has been in force since April 15, 1913. balance in equal shares t,o children and lawful issue of deceased cbild J.t the time fixed therein without grace. When clue or payvayahlP by right of representation. 2. If no surviving chlld .01: lawful i. s~e ahlo on Saturday or on Sunday, or any legal or bank holiday, the of deceased child the whole estate de·cends to survivmg spouse 1f same is payable upon the bu ine.· day next succeeding, and may any. 3. If no issue or surviving spouse, to father and mother in ~q~rn.l be protested on such ucceecling day. shares, or if but one survive, to such ur\'ivor. ,!. If no survivmg si.ters and brothe_rs is ue, spouse, father or mother, in equal bares to Right to Hold Property. .. ~o person unle, . he he a ritizen of the and lawful issue of deceased brother or ister. ,5. If no issue, spouse, ~nited tates, or has declared hi intention to become a citizen. and father, mother, brother, sister, or living i. sue of rlecea ~d brother no corporation unle. s created under the law of the nited State>". or or sister, to next of kin. in equal degree,_ b1:1t those who claim through of' :some state thereof, 'hall acqufre lands exceeding 90,000 :quare feet, neare. t ancestor preferred to those claiming through ancestor more e.-.cept by devise, inheritance. or through security for inclebtedne,-,s. remote. 6. If no spouse or kindred, to the tate. This does not apply to actual ettlers on farms not e.·ccoding rno acres. or to subjects of a foreign country, who. e rights to hulcl Janel· are Dower is abolished. secured by treaty. Employer Liability A.ct. Effective ince _April _24._ 1913. • 'o corporation, more than 20 per cent of who'e stock is O\ ncd by Executions i~ ue from district courts any time within t~n years nited ·tate·, or by corporation· not persons not citizens of the after judgment and may run to any county where jud~m~ntis docketed. under it· laws, or tho. e of some state thereof, can acquire created are returnable in ,'ixty days and may be renewed for sixty days at a. and no corporation unless organized for the construction or lands, time on reuest of judgment creditor or his attorney. f>er:-onal propoperation of a railway canal or turnpike can acquire more than 5,000 erty is sold on ten days' posted notice; real es_tate on six weeks' PU'?acres or more than is nece ·sary for its operation, and lands granted lished notice, and subject to redemption by Judgment debtor or his it, by the tate or United tates. assigns within one year fl-om date of sale. But this does not apply to lands acquired in the collection of debts nor to a person or corporation engaged in :,;ell in , Janel· to ,~ctual Exemptions. Homestead outside of incorporated mu:ni_cipality soUlers, or engaged in manufactw·ing in ~Iinne, ota whiles<) engaged. may include eighty acres. If in incorporated place contammg le: s uch persons or corporation.· not so enga~ed must. ell \\l,at they had than 5.000 inhabitants, its area ,hall not exceed; one-half acre, and m April 13, 1911, within ten years from that date and sell what they larger incorporated places, one-third of an acre without regard_ to value. acquire subsequent to that date within ten years afLer thoy acquire it. Family pictures library musical instruments for use of family, wearing apparel, beds, stoves', cooking utensils used by family, othe: houseSalo of Good . Tho Uniform ales Act became effective .'\.pril hold furniture not exceeding 500 in value. three cow·. ten swme, one ' 20, 1017. yoke of oxen, and a horse, or in lieu thereof, a span of horses or mules, on real estate mn.y be paid one-half before tho first clay of Taxe twenty sheep, the wool therefrom raw or manufactured, food . for June and one-half before the first day of .i.. Tovemher of tile vear followsuch stock for one year's supply, one wagon, cart or dray, one sleigh, thereof, and if not o paid a penalty of 10 per cent atlevy the ing two plows, one drag, and other farming utensils not exceeding 300 in taches. If taxes on personal property are not paid before :\Ia, ch 1st value, provic;ions for debtor's family for one year's support, tools kept for purpose of carrying on trade, and stock manufactured in whole or l of the year following the levy thereof, a penalty of 10 per c nt att.a.ches.  r~  BANKING AND COMMERCIAL LAWS-MISSISSIPPI Wills.  Eve:ry_ pers~J?, of f)-111 age and sound mind may dispose of  Pi<;;·sg~ · f~ l~~-tJr~Ier~~~l ~li;;mJs s:lf:1e~t~K. t~:t:;;:!t~~ct°~ub6sgr1g1e~ on includes 0  pl'e ·ence by two or more competent witnesses. Every per ~arried women. If, after making a will the testator marries, the "ill • 1s thereby revoked.  1905  he conceals and unjustly refuses to apply to the payment of his debt.s · or who has converted or is about to convert his property into money'. or evidence 'of debt, with tbe intent to place it heyond the reach of creditors; or who has fraudulently contracted the debt or incurred the obligation for wh~c_h suit has been or is about to be brought, may be attached. In addition to those named above, tho following grounds exist: "o. That the defendant is buying, selling, or dealing in or has within six months next before the suing out of the attachment direct,ly or indirectly, bought, sold, or dealt in future contracts com~ monly call~d 'futur1::s.'. 10. That be is in default for public money, d~e from him as a prmc1pal, to the Stat~. or some county, city, town, or village thereof. 11. That defendant 1s a banker bankino- comany or corporation, and received deposits of money, knowing at the time that he or it was insolvent, or has made or published a fa!. e or fraudulent statement as to his or its financial condition." Attachment-, for debts not due allowed for last six grounds-or when the creditor has just cause to believe that the debtor will remove himself or his effects onout of State before debt will be due, with intent to defraud. resident creditors have the same ria:hts or attachment as resident creditors, _whether the debtor be resident or non-resident. Plaintiff must furmsh bond double tbe debt an I make afliclavit as to one or more grounds. Suit does not abate on verdict for defendant, on a plea deuving grounds; but judgment on the debt, to be offset by damages in favor of cl_efendant for wrongfully :-;uing out attachment. Any creditors may mtervene and contest ground of attachment. Attachment in (?hancery on hill_ against tho property, or debts of an absent, non-resident, or absrondmg debtor. A hen is acquired 1g~n~~;si1°~~1fs~ of goods is obtained, bond is ~Jq~~·~d.uitAvi£;b1  I ,: ' i ,d  I: :111  ! 1  I  ·1  i  .  I  • I  ·  i  ~vr£~  SYNOPSIS OF  THE LAWS OF MISSISSIPPI RELATING TO  BANKING AND COMMERCIAL USAGES Prepared and Revised by CHAMBERS & TRENHOLM, Attorneys at Law, Jackson. (See Card in Attorneys' List.) worn to entitles plaintiff to judgment, unlo: defendAccounts. ant files allidavit denying. The affidavit must be by the creditor or hi agent. All accounts must l>e itemized. Acknowledgments before any judge, clerk of a court of record under his seal, justice of the peace, notary public, or member of the board of supervisors, before any police justice, or mayor of any city, town, or village. Acknowledgments in another tate may be before any of the judges of the supreme court, or any di. trict judge of the United 8tates, or a judge of the supreme or superior court in any state or territory, any justice of the peace, whose official character shall be cet•tifled to under the seal of , ome court of record in his county, or by any commissioner residing in such tate or terTitory, appointerl by tbe governor of Mississippi, or a notary public or a clerk of a coun of record having a seal of oillce. Acknowledgments or proof of deeds to property in this tate by persons in a foreign country may be made before any court of record. or the mayor or chief ma""istrate of any city, borough, or corporation where the grantor or witnesses reside, or may be, or before any com.mi5Sioner appointed by the governor of tbi State, or before any ambassador, foriegn mini ter. secretary of legation. or consul of the United States. The certificate shall show that this party or party and witness were identified before the officer, and that the part,y ac1...iowledged tho execution of the Instrument, or that the execution was duly proved by the witness or witnesses. Acknowledgment must state that party "acknowledged that he siyned and delioered" instrument. Actions. All distinction as to forms aboli bed. _ervice fi.-e days before return da:v. All action triable in the circuit court at fir ·t term io which the defendant bas been personally served with proce s thirty days before the return day. ::.\fandamus, quo warranto, mechanic·' liens, attachments, and replevin triable at return term on five da.ys Administration of Estatec;, Ha.d in chancery court, according to will, if any. Claim. against deceac;ed mW' t be registered within six months after the first pul.>lication of notice to creditor·; reii:i ·trati.on stops the general statute of limitations. ~ll dchL·_are t9 be paid before heirs, distributors, or legatee.·. Clauns agamst msol\·ent estates are paid pro rata. Affidavits or On ths before a judge of any coun of record. clerk of such court master in chancery, momt)er of the l>oard of supervisors, justice of the peace, notary public, mayor, or police ju ·tice of a city, town or villa""e· in another st.ate hy any officer thereof, or of the l:nitcd States7 authorized to administer oaths. To restrictions on t,he rights of resident aliens to acquire Allens. Property or di ·pose of it. , ·on-re ·ident aliens can not hold land, but inay take liens thereon to secure debts and pur ·ha ·e at forcclu ure thereof, and theroafLer hold it for not louger Uiaf! t ') enty . ·ear,·._,\ ith po,\er to sell to a citizon in J'eo; or he ma retam 1t by beconung a citizen. See title "Corporations." . A1,1>cal~ from justice court to <'ircuit court with_in _ten <lass. From circuit and chancery courts to s1:1preme_ C<?urt w1thm one yea:, hut notice to stenographer must b ~1v n w1t1:un ten days aft ·r actJournlllent of Colll't, iu order to incorporate ev1_dcnce In reco:<~- App also in certain cases from board of supern,;ori:, and mumc1pal c urt . Arbitration. Parties may submit to arbitration of one or more <:lisintercstcd arbitrator·, with agr ement that proper court shall enter Judgment. Arrests made by certain omrers, or private porso:1s m~y a.rre t for offense committed in his presence. No arre ·ts or 11npr1soument for debt. A. signn1ents and Insolvency. No insol_vent law. _\.n a! signn1ent may be made for the benefit of creditor,,.. Debtor, though ins~ilvent, may prefer creditor-, if ~n. good faith a?d no benefit, direct o prov1s1on for the ~1schargc of a debtor or mdircct, i reserved. on his making an a sigmnon~. In general_ assignments. whe:e. the value exceeds $1,000, the assignee must g!". bond and_ adnum.·tcr the trust in chanc 1•y. Preferences not prohibited. Practically superSodod by bankrupt Jaw. Again t a dehtor who is a non-re. ident or who Attachment remo,·es or is ai)out to remoYc himself or property out of the tate: Who so ahsconds or conceals himself t~at he can!iot !Jc. er,·~d with a summons• or who incuITod the d ht m conductmg the busme. · of a ship, steamboat or other water craft in om~ of the na via:able waters of this State· or who a.c;signs or di po. es of hi. property, or some part thereof or about to a.ssign or dic;pose of his property with intent to defraud his creditors; or who has property or rights in a tion which  is Federal Reserve Bank of St. Louis  Banks. ~e_quire_d capital s_tocks as follow. : In cities, villages, and commumtie with population 1,000 or less, 10,000; population 1,000 and not more than 2,500, $15,000; population 2 500 and not more than 6,000, $25,000; population from 6,000 to 10,boo, s:~il,000; 10,000 or ,more, $50,000. This does not apply to existing banks of (1914). '!here shall be a board of bank examiners of three men to be elected, duties to enforce banking laws and examine banks periodically. Deposits guaranteed; depositors names not to be divulged· Banks penalized for failure to comply , ith orders of examiners'. Banks must have at lea t three director ; unlawful for any banks to receive, deposits for six months in exce;;s of ten time its paid up ~E~t~f~~~JI:r~l~s~; :Banks officers must not contribute to campaign All, exce~t national banks, are required to make a report, not less than four times each year, to the co=issioner. And the commissioner shall make requisition on all banks for these reports to be made as of dates prior to the date of the requisition, and such date uch reports hall be verified and shall to be known only to himself. be published in full in a newspaper of the town or city whe1·0 the bank is !orated. Resources and liabilities shall be stated in such reports. Banks, collecting drafts with bill of lading attached must hold funds at least ninety-six hours. Banks must give notire to administrator or execut,or of deceased pei·sons of deposits of money and papers held for the deceased. Directors of every l.>ank to hold at lea5t tht·ee regular meetings each year and keep a complete record of all proceedings. Every bank with paid up capital of as much as ~00,000 may do business as trus~ company: maY_ act a a gua1·dian, receiver, etc.; may execute bonds m legal proceedmgs and generally perform the dutie of a trust company; may establish a special mutual loan department; in such department interest on loans not to exceed • per cent per annum. Bank not permitted to allow the u ·e of • its name by others in making loans. Banks are authorized to charge exchange of not exceeding onetenth of one per cent on "ca h items" and never le s than ten cents, and hall charge exchange on checks and drafts payabla to nonre ident. , except the United States. Cash items , hall not he prote ted for non-payment of exchange, but payment may be refused unless exchange is paid. Chattel 1\-lortgages and Deeds of Trust may be executed and recorded as other mortgages. Foreclosure is usually by trustee's sale. If property be removed to another county, mortgage must he there recorded within twelve months to affect purcbasers without notice. Iortgages on property to be acquired are valid, but not on a changing stock of goods if the mortgagor remain in pos.,ession and continue business. Reservation of title by the seller of a chattel to secure plll'chase money is valid without record. even against purchasers ,,ithout notice, except as to chattel. used or acquired in the business of a "trader." Banks, professional men and manufactw·ers, are not traders. Collaterals. General law prevails. ContraC'ts for sale of land, or for lease for more than one year, to be iu writing. Same in regard to sale of chattels of the vali.1e of more than 50, unles delivery in whole or in part is made. or payment in whole or part is made. Dealing in futm·es is forbidden and a ground for attachment. Gambling contracts and ordinary contracts made on Sunday void. <'ontract' by foz•eign corporal-ions wbo haYo not complied with registration of charter law are void. Conveyances. l\1ay vest title presently or in future. All estates in land greater than for one year must bo by deed, and to affect pw·chasers without notice must be recorded. Corporations must me all deeds to them in si.·ty days. Estates tail "prohibited, except that a deed or devise may be made to a succe ·sion of living donces not exceeding two and to the heirs of the body of the remaindermau, or, 'orporat ions in default thereof', to the right heirs of the donor in fee. 'onconvey under seal. In all other ca e · priYate seal. aboli. bed. veyanccs or devises to two or more. or to hu.,hand and wife, create tenancy in common. Rule in Shelly' · case abolished. Remainder  ~i1~?; ~~)~~~t afait~~t!~a~~tt~!t d~!r~to';~~d,·ci~!ciagi'so~~~g;tfat!~1 inheritance. ·words "convey and warrant" operate as a general covenant of warranty. The words "convey and warrant specially" operate as a warranty only again t the grantor or those under him. A quitclaim deed has practically the same effect,. Husband and wife, if living together mu. t join in conveyance or incumbrance of home ·tead of either, or it will be void as to all under $:3,000. Coruoration . Corporations except for th~ construction and operation _of a railroad _other than str t railroads, and the cal'l'ying oo of an m-,urance busmess, other than mutual insurance, 1,iay be ct·eat d under a general charter. ApphcaLion fol' charter sig;ned by each of the incorporators and achnuwl dged. It must than be publish~d three con. ecutive \\Ceks io a newspaper published at the domicile of the proposed cu~p iration The applicalion, with proof of publication, mnst be forwurde I to tbc ccretary of state together with the fee for recording, and he must refer the same to the attorney general for his opinion as to the con~ti~utio;1ality and legality of the p~oposcd corporation, after which it 1s re,ecred to the governor for his approval or disapproval. Tho governor then returns it to the ecretary of state with his action ~n_dor~ d tber on. If_ he approve it, the secretary of st,ate shall record it m his ofllce and cer~1fy to the same and transmits it to the applicants. It must bo -!'ecor~ed m the ollice _of the clerk of the chancery coui·t of the county m which the corporation hall do business. Within thirty days afte_r tJ?.e organization, the corporation must make report of the orgamzat10n to the secretary of tate. If such report be not made the charter granted shall be void, and all p rsons doing bu iness thereon shall be deemed partners in the business, and liable as such  I I  1· I  11  I !  f  i '  I I I  ,I  I  I'  :!  I  f Federal Reserve Bank of St. Louis  1906  BANKING AND COMMERCIAL LAWS-MISSISSIPPI  Corporations thus created possess the powers usual and incident Exemptions. The following personal property is exempt from to private corporations generally, but existence is restricted to fifty seizure under execution or attachment, to-wit: • years. Corporations created as above named may hold real property The tools of a mechanic necessary for carrying on his trade. necessary for their purposes, not exceeding one million dollars, manuThe agricultural implements of a farmer necessary for two male facturing companies and banks excepted, which may hold porperty laborers. to the amount not exceeding two million dollars. Corporations may The implements of a laborer necessary in his usual employment. own such personal property as may be necessary to their business. The books of a student required for the completion of his educaUnder the laws passed by the Legislature of 1912 all corporations, tion. whether domestic or foreign, are not allowed to acquire title in fee, The wearing apparel of every person. or for a term of years, to, or own land for agricultural purposes, in The libraries of all persons, including pictures, drawings, and paintthls State outside of an incorporated city, town, or village. A corings, not exceeding five hundred dollars in value; also the instruments poration may he lessor or lessee for not mo1·e than twenty years of of surgeons and dentists, used in their profession, not exceeding two as much as 10,000 acres of land to be used for agricultural purposes, hundred and fifty dollars in value. but any such lease or contract shall not be renewed or extended so The arms and accoutrements of each person of the militia of the as to authorize the holdings of said lands for another period. State. This law does not prevent corporations from taking deeds of trust, All globes and maps used by the teachers of schools, academies, and or mortgages on real estate to secure loans or debts, or from acquiring colleges. title thereto upon foreclosure of such securities or from acquiring The following property of each head of a family, to be selected by title to land by deed for the collection of debts, and that all lands so , the debtor, is exempt. acquired may be used and operated after foreclosure for all agriculTwo work-horses or mules. and one yoke of oxen. tural purposes during the time so held for not longer than twenty Two head of cows and calves. Ten head of hogs. years. It is also the duty of every corporation that shall acquire interest Twenty head of sheep and goats each. in or title to land in this tate to file the deed to same in the office All poultry. of the Chancery Clerk of the county in which such land, or a part of All colts under three years old raised in this State by the debtor. it, is located within sixty days after the date of the deed. Two hundred and fifty bm;hels of corn. If any corporation or other person shall have acquired any right, Ten bu hels of wheat or rice. title or interest in any land in violation of this Act, they shall be disFive huudred pounds of pork, bacon, or other meat. solved by a suit brought by the Attorney General of the State or by One hundred bushels of cotton seed. the District Attorney, if it is a domesLic corporation, and if a nonOne wagon, and one bue;gy or cart, and one set of harness for each. Five hundred bundles of fodder and one thousand pounds of hay. resident corporation they shall not be permitted to do business in this State, and the court shall thereafter appoint a receiver to take Fol'tY gallons of sorghum or molasses or cane syrup. charge of aJl property in this State belonging to such corporation or One thousand stalks of sugar cane. so held in trust and to dispose of the same under order of the court, One molas,;es mill and equipments, not exceeding one hundred and and after paying all debts of the corpo1·ation and all costs and charges fifty dollars in value. incident to said suit, the remaining shall be paid and distributed to Two bridles and one saddle, and one side saddle. One sewing machine. the stockholders. This Act does not afl'ect the rights of existing corporations in this How ehold and kitchen furniture not exceeding in value two hunState, but is passed to prevent a monopoly in agricultural lands. dred dollars. Stockholders individually liable for the debt: the corporation conAll family portraits. One mower and rake for cutting and gathering hay or grain. tracted dW'ing his ownership of stock for the balance that may remain And the following property shall be exempt from garnishment or unpaid for stock subscribed for and may be sued by any creditor. Directors are liable for the wilful mismanagement or for allowing otbel' legal process, to-wit: The wages of every laborer or person working for wages, being the capital withdrawn while debts exist. Corporations under the laws of other states or of foreign countrie · may sue in this State, and have head of a family, to the amount of llfty dollars per month. but this the same rights in the State as non-re. ident individuals. 'I he legi ·paragraph shall not apply to a debt for board and lodging or a judglature may repeal or amend charters granted after Tovember 1, 1 '90, ment founded on a debt for board and lodging. provided rights of st,ockholclers are not infringed. All foreign corThe proceeds of insurance on property, real and per.·onal, e. empt porations doing business in this state shall flle a certified and duly from execution or attachment, and the proceeds of the sale of such authenticated copy of its charter or certificate with the secretary of property. state. Charter must be certified by the president and secretary or Payable to Executor. Life insurance policy not e.·ceeding five other chief executiYe under the corporate seal. Fees are to be paid thousand dollars, payable to the executor, or administrator, shall accordiug to capital stock, viz.: 10,000 and under, 20. 00. Between inure to the heirs or legatees, freed from all liability for the debts of $10,000 and 30,000, -10. 00. Between 30,000 and . ;30,000, 60. 00. the decedent, except premium. paid on the policy by anyone other When over .30,000, one-tenth of one per cent and not to exceed 250. than the insured and debts due for expenses of last illnc: s and for burial; but if the life of the deceased be insured for the benefit of his Costs. :Non-resident or insolvent plaintiff reriuired to give security heirs or legatees at the time of his death otherwise; and they shall though an insolvent may sue in forma pauper is. collect the same, the sum collected shall be deducted from the flve thousand dollars, and the excess of the latter only shall he exempt. Courts. Terms and Jurisdiction. Justices' courts meet twice each Life insurance policy to amount not exceeding 10,000.00 goes to month; circuit and chancery court· in each county twice a. year; partie · named as beneficiaries free from liability for debt. of insured. supreme court twice a year in October and :\!arch. .Justices· courts Homestead in ountry. Every citizen being a householder, and have jurisdiction up to S200. Circuit courts have general jurisdiction having a family, shall be entitled to hold exempt the land and buildor all common law actions where the amount or value exceeds $200, ings owned and occupied as a residence, but the quantity shall not and jurisdiction or appeals from justices' and mayors' courts, and exceed one hundred and sixty acres, nor the value thereof, inclw,ive boards of supervisors. Chancery courts have jurisdiction of the of improvements, save as hereinafter provided, tho sum of three administration of estates of decea ·ed persons, of minors' bui_iness and thousand dollars. other probate matters, and of all matters in equity. Appeals may be Homestead in Cities. Every citizen being a hou ·eholder, and havtaken to the supreme court from any final judgment of the circuit ing a family residing in any city, town, or village, shall be entitled court, and from the chancery court, except in suits for not more than to hold, the land and buildings owned and occupied as a residence by $50 originating in the jusLice· court. ~uits of equitable cognizance such person, not to exceed in value, save as hereinafter provided, improperly brought, in the circuit court are transferred to chancery three thousand dollars, and personal property, to be selected by court, and vice versa. o suit di ·missed because being of an equitable him, not to exceed in value two hundred and fifLy dollar , or the nature it is improperly brought in the circuit court and e conver.·o. articles pecifled as exempt to the bead of a family. Ilome,;tead exemption may be increa5ed to 3,000 in value by Creditor' Bills may be flied under general Laws to subject equifiling for record in chancery clerk's ollice a declaration claiming as table a ets and in aid of execution at law. Such suits may, under the exempt certain property. statute, be flied to subject property or a debtor fraudulently conveyed 0 without a judgment and return of nulla bona; and this whether comfor'~~Jrggi~t~/~ea~:1~f ~~~Jt tg~r.~ro~. mfg;[/fo~~:~~a~r\ff!; plainant's debt is due or not. No bond is required unless a sequestraof interest not exceeding 6 per cent is exempt from taxation. ' tion is desired. Foreign Corporations may do busine. and sue and be sued as Curtcsy and Dower. Both abolished since 1880. in c~ e of domestic corporations. ( ·ee 'o poration .) Foreign corporations doing business in the State ithout recording their Deeds. (See Conveyances.) charters are subject. to fine; and all contracts are null ancl void. Depositions in civil cases, on written or verbal interrogatories; Fraud and Fraudulent Conveyances. ( ee .At.ta.clunent, Bills ten days' notice to opposite party. If such party is absent and ha.· of Lading, Limitation . 'reditor's Bill.) no attorney, filing interrogatories ten day· ·uificient. '1 be o!licer .. al~· of merchandise otherwise than in usual cour ·e of businr. and shall swear the witness to te.,.tify the truth, and shall impartially sal of entire stock of goods in gross pr ·urned fraudulent and void as examine him on the interrogatories. The testimony hall he fairly to creditor. , unles · ,> day.- before _·ale. i;eller make complete inventory written down by the omeer or, itne. s. or by a disintere·ted per.·on in and the pw·chaser made demand of seller for name, addr and amount the presence of, and shall be subscribed by the witne s, Depositions of claim of each creditor, and the purchaser notifieu personally or bY then certilled, and tran:mitted by mail or other afe and convenient mail each of credit,ors of propo:,;ed sale and of co:,t price of merchandise manner to the court where the Harne are to be I.Lled. Officer's cerand the price to be paid therefor. Purchaser violating thb act held tificate prima facio evidence of his character. to be tmstee for seller'. creditors to extent of rea onable \alue or De cent and Distribution. E ·tates of inheritance, real and good and required to pay them to that amount,, even ii' he has paid personal descend. 1. To children am! their de cenrlant per stirpcs. seller in full. _: 2. To brothers and sisters and father and mother iu equal parts and In ca:·e of de ·truction of tock of merchandi. e by fire, on which there their descendants by representation. 3. To th' next of kin accordiui; i in ·urnnce. holder or policie · to notify creditors he ow · for merchanto the civil law. Except among brot,hers and sister there is no dise of hls Jo-s and amount of insurance carrioo, , ithl11 5 days. representat,ion among collaterals. Advancements must be brought Garnishment on judgments or in attachment. Binds debts or into hotchpot. .. To distinction between i·hildren of the whole blood proi,erty of debtor in garnbhec's bands. and tho,e of the half blood, e.·cept thnt children of the whole blood arc prefe1Ted t-0 tho:;;e of the half blood iu equa! degree.. \YlI~re ther i · Grace. ..\boll hed. no one to inherit property e cheat.. Illeg1tfmates mher1t from the mother and from her other ('hildren and her kindred. 'bildren of Holidays are Jan. 1, Feb. 22, prll 26. June 3, July 4, first. rondat illegitimates and their descendan inherit from brothers and si. ters in September, fourth 'l'hursday in ,. O\"ember, and December 25. of their father or mother and from grand parents. But children of 1 1 illegitimates do not inherit from any ancestor Clr collate_ral kind[ed if ~~-.Y~:~~~~d1~t i~~e. a~eu~a~~hl~aft?rJ'~; there be legitimat,e heirs of such auce ·tor or CClllat_eral kmdred, m the are to be pre ented for payment on tile next ucce ding bu in . day same degree. Exempt, property of bu ·ball(.l or vife descends to sure. ecpt that i11struments payable on demand may a the option of the ,ivor a11d children as tenants in common. hol<ler he presented for payment before t, ·elYe o'clock noon on 'aturclay when that. day is not an entil'e holiday. Dower and Curtcsy have been aboli. hed. ince 1S80. Evidence. In the main common law rules apply. Parties and Homes1 cad owned and occupied by hu. band living with wife cannot interested persons competent: except against decedent. Affidavit to be sold or encumbered unle.. the wife joln.s in the conveyanre. The open account entitles io judgment, unle. s defendant deni · under same is true as i-0 husband if wife owns hom tead. ( · 'e Exempoath. \Varehou:,;e receipts and bilb of ladine: conclu ·i,,e evidence lo tion.·.) favor of a bona fide bolder that the property was received by the Husband and Wife. The di abllities or coverture are abolished, issuer. ( 'ee also Accounts and Allidavit ·.) as are <lower and curt y. llusband and wife may contract with and . ue each other, but contracts for compen ·ation for ervices renExecution in circuit court i.·sue '\\,ithin twenty days after the dered to each other are void. If bu band rent.< wife' land, nn!les, adjournment of court unless otherwise ordered by the plaintiff. and etc .. and dc•e:,; busines in his own name, it will be deemed the business in justices courts after t,he lapse of ten days from judgment rendered, of the wife as to tho.'e without notice, unle: · the contract be recorded. unlei-s recovering party makes affidavit that he is in danger, by delay, Transfers between are void as to third person. uni of losing his debt or demand, in which case execution issues forthwith. recorded. (See No redemption of property sold under execution or mortgage. also Married Women, Wills. and Homestead.)  t~f  ~ra:. ~J~~tri,~~n~ l-~~fn  BANKING AND COMMERCIAL LA WS·-MISSOURI  1907  Insolvency. No general insolvent laws. hut insolvent estates of decedents are divided among creditors pro rata. In case of insolvency partnership property is applied first, to partnership debts, and e converso. Interest. Legal rate 6 per cent per annum. and money loaned at not exceeding that rate is exempt from any taxes. but parties may contract in writing for 8 per cent; when more is stipulated or collected all interest is forfeited. When above 20 per cent interest and principal forfeited and payments forfeited. Judg1nents elll'olled become liens on defendant's property within the county. A junior judgment creditor may obtain priority as to property levied on by him, if, after ten days· notice, the senior judgment creditors fail to issue executions. Lien of judgment continues SYNOPSIS OF seven years. Jurisdiction. (See Courts.) Lien . Lien of an enrolled judgment, of mechanics and material men, of Jancllord and laborer on agricultural produ !ts, innkeeper's and stablekeepcr's lien. The seller of goods may enforce lien for the price of the i:;ame, provided the goods are still in the hands of the purchaser or one having notice. The procedure is by affidavit, flied RELATING TO at t,he commencement of the suit, stating that the purcha e money is unpaid. A writ of seizure issues, and the goods are taken. No boncl required of plaintiff unless third person claims the property. BANKING AND COMMERCIAL USAGES 'l'itle to personal property may be re erved by the seller as security for the price, and this is good even as against a sub.·equent bona fide or acquired where purchaser, without any writing or record, except , Prepared and Revised by SANFORD B. LADD, EsQ., Attorney at Law, used in the busine. sofa trader. Kansas City. (See Card in Attorneys' List.) Limitations. Open accounts, accounts stated, and verbal contracts. express or implied, three years: all other contracts, sL'll'. year award· of arbitrators, six years; judgments and decree· rendered in Acknowledgment:-;. Acknowledgments of instruments affecting another state against re ·ident of this, three :rear : rendered in thb, real estate may be before one of the following courts or officers. 1. seven years, real actions, ten years. Action. to recover property Within this ~tat,e. some court having a seal, 01• some judge, justice or sold under order of chancery court must be brought within two years, clerk thereof, a notary public, or some justice of the peace of the where possession is talrnn and purchase money paid in good faith county in which the real estate is situated. 2. Outside of this State ,vhen the legal title to property or right in action is in an executor, and within the United Htates, any notary public, any court having a guardian, or other t-rustee, beneficiary, though under disability, is seal or tho clerk of such court. or commissioner of deeds. ~- Without barred when trustee is barred. Action against administrator or the United States, any court having a sea.I, the mayor or chief ofllcer executor on claim against person deceased limited to four year· from of any city or town having an official seal, any minister, consul or date of qualific'aLion of such administrator or executor. ."tamte does ofllcer of the United States, or notary public ha'l-;ng a seal. The not apply to suits on notes or evidences of debt of bank. or other official should certify that "before me personally appeared . . . . moneyed co1·porations circulating as money. An acknowledgment or and ........ , his wife, to me known to he t,he persons dcscrihed in, fraudduring run not doe· ~tatute writing. in be new promise must and who executed the foregoing instrument and acknowledged that ulent concealrnent, nor against infant or per ·on non compo.· men tis. they executed the same as their free act and deed." nor against a convict in actions for assault, etc., until after release nor against State, county, municipality, or any polit il'al subdivision Actions. There is in this State but one form of civil action the of State, nor in favor of persons who remove from the state. practice being under a code. .\ non-resident, plaintiff must file the written undertaking of some resident for costs. Manied \ omen 1·etain their estate, common law clisahilities of coverture abrogated; have eapacity to make contract. and do all Administration of Estates. The probate court in each county acts in refor·ence to property. Dower and curtesy aholished. Hushas jurisdiction of the settlement of the estates of dccea.:sed persons. baud and wife must join in conveying or encumbering homestead. Claims 1i1·esented to the court for allowance within six months after (See also Husband and Wife and Descent.) the grant of I •t,ters are preferred over those presented later. Claims not presented within one year from the granting of letters are barred. 1\1ort gages and Trust Deeds do not take effect as to creditors or Letters are g-ranted: 1. To the husband or wife. 2. To those entitled purchasers in good faith and without notice until they are delivered to distribution, or one or more of them. If after the expiration or to _the clerl{ for record: with power of . ale are foreclo ed by sale in thirty clay,, aner death of deceased, such persons do not, on five Pais; without power of sale, by suit in chancery court, and after foredays' notice, appear and qualify, letters may be granted to any other closure there is no redemption. (See Chattel ~Iortgages.) person. Non-1·esidents cannot he executors or administrators, nor Notaries. Have power to administer oaths, take acknowledgments may non-resident executors or administrat,ors maintain an action in and to prntest notes and bills. (See Conveyances.) this State. • ·otes and Bills. Uniform ogotiable Instruments Law adopted Aliens. Aliens or alien corporations ma.' not acquire, hold or own and now operative. (See Holidays.) real estate except such as may be acquired by inheritance or in the Partnership. Few statutory provisions. Go,·e,ned by gen ral ordinary course of justice in the collection of debts. Real e ·tate law. In ca e of insolvency, partner'ihip property mu,-,t go to pay acquired hy an alien creditor at foreclosure sale must be disposed of Provision made for limited or special firm debt . and e couver o. within five partner ·hips. Arl1itration. Parties to a controversy may submit the same to Powers of Attorney. :May be acknowledged or proved and arbitrators. and their award be confirmed by a. court and judgment recorded a.'! deeds. l\lay be revoked in like manner. Co_nveyances rendered thereon. of land or other properly under powers of attorney are vahd. Arrest. No person can be arrested under civil process. Uedemptiou. No redemption from sales under mortgao-e, ~xecuAssignments. Voluntary assignme11ts must be for the equal tion, or ot,her judicial sale. Two years allowed for redemption (?f benefit of ,ill the creditors of the ru si~nor and are administered in the land sold for taxes, saving to minors and persons non -eompos mentrs circuit court,. No such assignment operates as a discharge of the a like period after removal of disability. assignor from his debts. Replevin lies to recover per,-,onal property wrongfully withheld Attachments. Tho writ may issue when the debtor is a non-resifrom the owner. The property may be restored t_o defendant on _bond. dent; or conceals himself so that the ordinary prnce ·s of law cannot If he declines to bond, plaintiff may do so. ~f neither d_oe ·, a claimant served; or, bas absconded or absented hiLUself from his usual place be of the property may give the bond and rec-eJYe po. · 100. Damages of abode in this State. so that process cannot be served, or, is about to may be w·se: sod for wrongful taking or detent10n. remoye hi· property out of the State with intent to defraud, hinder, or 1'axes. Personal property is a.·sessed once a year: real_ estate delay his creditors: or, is ahout to remove out of the Mate and change every two yoa1·s, and taxes constitute a prior lieJ?-, . Land delrn(Jueut his domicile; or, has fraudulently conv-eyccl, concealed. or removed sold on first ;\londay of April. l{edemption w1tl11n two years, on bis property, or is about to do so, to hinder or delay his creditors: or, payment or all taxes, co. ts, 25 per cent damages, a!ul 5 per cent on ha. failed to pay the price of any article which ho was bound to pay for amount paitl. Infants and persons of unsound mind may redeem upon its delivery, or has fraudulently contracted tho debt: or, where Within two years after 1·emoval of disability, on payin" the value of the cause of action accrued out of this , t.ate and the defendant has Permanent improvements put on the land after two :rears from date absconded or secretly removed his property into this ~tate: or, where of sale. the d:1mages sued fo1· arjse from the co11unissio11 of a. relony or misdemeanor or the seduction of a female; or, tho defendant is a corporaTrust Companies. Provi. ion for such companle ,nt_h general tion whose chief olllce or place of hw·iness is out of this State. The Powers-to administer all tru t ·, make bonds and the like. (See plaint.iif, his a~ •nt, or attorney must mal,e allida,•it to one or more of Banks.) these grounds, and the plaintiff, except \\ here the fedendant is a nonWarehouse RecelJ>ts. (See Bills of Lading.) re.-;ident., must gh-e bund for donble the amoui t of the debt. Wills executed hy anyone twenty-one y~ar old, of ound mind. Banks are organized under a general law. The cash capital must As to land, if not wholly written and subscnhed by t. stato_r, mu,,,1, be not he less than 810,000 nor more than $.i,000,000, and in cities of attested by twu suhscrii>ing witnesses. A nuncupatlve \Jll (_of J?Cr150,000 or more, not. less than $100,000. The entire capital must be sonalLy) may be made during last sickness of testator at bab1tat1011, sullscrihe,J, 011e-llu.ll' thereof paid up on or!!:anizu.Uon, and the other or where test,ator has resided ten days next before death, or where half within 0110 year. Directors must be re ·klcnts of this State. The person is taken sick from home aurl die· before returr!, must he pro\ eel reecipt of deposits with knowledge of the fact that, the ba11k is in failing by two wit ues:·n-.. ,. 'nncupative wills not to _he c: _tabhshed where value is puni llable by floe or imprisonment, and o/Il •ers circumstances, n~ay servlc~ actual, 1!1 sa1lu~ bequeatht•d u.·<'eed-.; 1oo. 'oldiers and a •ents consenting Lo the creation of debt· with suC'h knowledge, and o r. trict1on bequeath personally free from ·tu.tulory re _tr1ctron.. a1·e individuallr resµonsihle therefor. _Tot more than 2;; per cent of Ur,ou the power to clbpose of property hy \\ di except that religious. or its capital sto •k must be loaned to any indi\idual or corporation. cbaritahle trusts or bt'Quests void. Provision. made for renouncing Large powers or supen ision and control are , csted in the bank comWill by sun i ing hw·hand or wife in certain case·. Proba~ed in comPrivate bankers must ha, e a paid-up eapita.l of not less missioner. another kills who n1on form may be conte ·ted within two years. One than .. llJ,000, and iu cities of 150,000 population or more, not less than cannot take under his will. $100,000. Every firm or individual as well as every corporation that engages in Lhe busiue. s of banking shall be subject to the strict su1iervision of the State llanking Department. Conditional Sale of personal property, unle s recorded, are void as to subsequent purcbw ors in good faith and creditor·. Conveyan<:e . A per·on may convey title to lands although not ii: po.·,,,e.-sion. and although the same be in ad\·er. e pos,;ession. The signature of the grantor in a deed need not he atte,,,tcd by a subscribing witness. A deed by~ natural per·on need not be under his i:;eal The corporate seai must be atllxe<l to deeds of corporations. The use of the word "heirs" in a deod is not necessary to create a fee simple. The statute abolishes est.ates tail and co'i1verts an estate tail into a; life estate for the fir t taker, with remainder in fee simple to the heirs of bis body. The words "grant, bargain and sell" are employed in_ the granting clau e of a warranty deed: by statute those words constitute express covenants that the grantor was seized of an µtdeferu ible estate in fee. imple; that the real e 'tate was free from all mcumbrances done or suffered by him or any per on under whom he Federal Reserve Bank of St. Louis  THE LAWS OF MISSOURI Federal Reserve Bank of St. Louis  1908  BANKING AND COMMERCIAL LAWS-MISSOURI  claims; and for further assurances of the title to be made by him and his heirs. Title, subsequently acquired by the grantor in a warranty deerl, will immediately pass to the grantee without further conveyance. An estate of freehold may be made to commence in future, by deed. An interest in real estate, grant,ed or devised to two or more persons, other than execut,ors or trustees, or husband and wife, is a tenancy in common unless expressly declared to be a joint tenancy. A conveyance to hu ·band and wife creates an estate in entirety, as at common law. Females of eighteen years are considered of full age for the purpose of conveying real estate. Corponttions are formed under general law. In the case of rnanufacturiug and most other bnsine.·s corporations, the capital must be not less than $2,000 nor more than 300,000,000. One-half mu.·t be subscribed and actually paid up in money or prope1·ty of the full value thereof, if part of the capital stock is paid in property, there must be an itemized de cription, tlle actual cash value of each item being shown. Part of the stock may be preferred, paying not to exceed (i per cent annual dividends. Cumulative voting is permitted. Director· must not be le than three nor more than twenty-one: three of them must be citizens and residents of the State. A stockholder having paid for his stock in full is subject to no further liability. The amount of the bonded indebtedne. s cannot. in any event, ex('eed the amount of the authorized capital stock. The bonded indebtedness cannot be increased nor the capital stock increased or diminished except with the consent of persons holding the larger amount in value of the stock. Two-thirds in value of the stock may apply to the circuit court for a decree for the winding up of the business. Corporations owing no debts may also be dissolved by -unanimous vote of all shareholderi. A corporation pays an annual franchise t,ax equal to one tenth of one per cent of the par value of its outstanding capital stock and surplus. The General Assembly of 1913 enacted what is popularly known as a "blue sky law," placing under strict supervision of the Bank Commissioner, corporations and partnerships carrying on the busine. s of selling and negotiatin 5 ~ tocks, bonds and securities (a few securities excepted.) Ample powers of visitation and summary action are conferred upon the Bank Commissioner, and penalties of fine and imprisonment imposed for violation of the law. A foreign corporation must flle in the office of the secretary of state a copy of its charte!' with a statement of the proportion of its capital stock invested in ::V.Ci souri, and pay certain fees. Tt then receives a license to do business in the State. It must also maintain an office in the State. It,s personal property in this State may not be incumbered to the injury of any creditor who is a citizen of this State, and no mort~age by a foreig-n corporation except a railroad or telegraph company, to secure a debt created in another State is effective as a~ainst any citizen of this State until its debts, due to resident citizens at the time of recording the mortgage, haYe been paid. A corporation failing to comply with the ·e provisions is subject to a fine and cannot maintain a suit in a court of this State. A corporation of any country outside of the United States before being authorized to tran ·act business in this State must have a public omce in the State, where books shall he kept, showing in detail its as. ·ets and liabilities. the name· and residences of its shareLolders, officers, directors, and managers. .. · one of the. e requirements apply to in urance companies. Courts. Circuit Courts have original jurisdiction in all cases of law and equit.y and hold two or more terms in each year in each county. Juri. diction of the settlement of estate of deceased persons is vested in a Probate Court in each county. .Ju.-;tices of the Peace haYe jurisdiction up to $250; in counties and cities having over 50,000 and less than 200,000 population up to . 300: in townships having more than 200,000 and Jess than 400,000 population, up to $500; in cities of over 300.000 population up to . .500; in cities of more than 300,000 in some cases $600. Appeals lie from judgments of Justice and the Probate Court to the Circuit Court. There are three appellate courts in tbe state to which appeals lie from the Circuit Courts in all cases (wit.h cert,ain exceptions). involving not more than $7,500; in all other cases appeals lie from the Circuit Court to the Supreme Court. Days of Grace are abolished. (See Negotiable Instruments.) Depositions. May be taken on notice of at least three days and one day additional for every fifty miles of the first 300 and beyond that one additional day for each 100 miles from the place of serving the notice. If taken outside of the Htate a commission issues from the court in which the suit is pending. They may be taken within the State by any judge, justice of the peace, notary public, clerl, of a court. mayor or chief officer of a city or town having a seal of office; and if out of the State by any officer appointed by authority of the laws of this Ht ate to take depositions. a consul or commercial representative of the United States having a seal, or mayor of any city or town having a seal. or any judge, justice of the peace. or other judicial officer, or ii notary public. They may be taken upon '1\-Titten interrogatories, hut this is not customary. The name· of the witnesses or of the oflll'er need not be mentioned in the notice. Objections to the compecency or relevancy of the testimony need not be noted, but can be first made when it is ofi'ered at the trial. Descent and Di. tribution of Property. The real and personal e. tate of an intestate de·cends and is distributed as follows: 1. To his children or their de cendants in equal parts. 2. If there be no children or their descendants, then to his father, mother. brothers, and sisters, and their descendants in equal parts. 3. If there be no children or their de.:;cenclants, father, mother, brother or sister, nor their descendants, then to the husband or wife: if there be no husband or wife, then to the grandfather, grandmothet', uncles and aunts, and their descendants in equal parts. •L If there be no children or their desc-endants, father, mother, brother, si ·ter, or their descendants, hw,hand or wife, granrlfather, ~ranclmotbcr, uncles. aunts, or their descendants. then to the grcat-gran<lfathers. great-grandmothers. anu their descendants, in equal part-, and so on. in other cases without end passing 1.0 the nearest lineal ancestors and their children. and their descendants in equal parts. Po.~thumous children inherit. "'hen there are collaterals of the half blood, they inherit half as much as those of the whole blood. Lineal descendants in equal degree take ])er capital; but where part of them are dead and part living, the issue of those dead take µer stirpes. "'hen a wife shall die without, any child or other descendants in being, capable of inheriting, her wido" er shall be entitle<! to one-half the real and personal estate belonging to the wife at the time of her death, absolutely, subject t,o the payment or the wife's debts, and the widow takes a like share of the estate of her huc::band on his death without lineal descendants. An illciritimate child inherits from its mother. and vke versa. An illegitimate child become legitimate if the parent interruarry. Dower. Dower in real estate i.· a. at common law, but the widow has the right, at her election. to choose certain nortiorn of her husband's estate absolutely, in lieu of dower. A widow may renounee provisions in a will in lieu of dower and elect to take ab olntely l'Crtain portions of the estate. • -o conveyance by the husband or. ·tie uncler judgment or decree will bar dower. The estate by the curte ·y exist common law. Executions. Unle s motion for new trial is flied within four day after ju,lgment, execution i sue.· immediately. Real P,tatP mu<.:t. be sold during a session of the court which rendered the judgment. Sales  1  of real estate must bo advertised for twenty days; of personal property for ten days. Execution sales are for cash. No execution is a lien upon personal property until actual seizure thereof. It may issue at any time within ten years from the rendition of the judgment. Deeds to the purchaser are made at once by the sherifl', no confirmation of sale being required. Exemptions. The homestead of the head of a family is exempt in the country to the extent of 160 acres not exceeding in value 1,500, in cities of 40,000, eighteen square rods, not exceeding in value $3,000 in cities of 10.000, thirty square rods not exceeding in value Sl..500, in towns of less than 10,000, ten acres, not exceeding in value $1,.500. The exemption continues to the widow and to the children until their majority. There are also exempt, when owned by the head of a family, ten hogs, ten sheep, two cows, and certain farm implements; two work animals. spinning wheel, loom, and small quantity of hemp, flax, and wool; wearing apparel; $100 in household and kitchen furniture; mechanic's tools; provisions on band for family use: Bibles and other books used in the family. Lawyers, physicians, ministers, and teachers have the right to . elect profe.- ional books in lieu of other property allowed to them and doctors may select medicines. In lieu of certain of the exempted articles any other property, not exceeding 300 in value, may be selected. Frauds and Perjuries. 'o executor or administrator is bound by his promise to pay any debt or damages out of his own estate, and no person is liable upon any agreement to answer fo1• the debt, default, or miscarria11:e of another, or made in consideration of marriage, or for the sale of lands or any interest in or lease thereof for a longer time than one year, or on any agreement that is not to be performed within one year unless the agreement sued on, or a memorandum thereof is in writing signed by the party to be charged or his authorized agent; and no contract for the sale of lands by an ag-ent is valid unless the authority of the agent is in writing. Every gift, conveyance, or assignment of or charge upon real or personal property made with intent to hinder, delay, or defraud creditors or defraud or deceive persons who shall purcha. e the same lands, is void against creditors and purchasers, prior and subsequent. The disposition of the larger part or the whole of a stock of merchandise pertaining to vendor's business otherwise than in the orclinary course of trade, is fraudulent and void as against creditors of the vendor. unless the vendee shall, at lea.<st seven days before the sale furnish to the creditors a statement of the consideration for the sale, the amount of the indebtedness of the Yendor, and the names of his creditors. All creations of trust in lands must be in writing except those resulting by implication of law. Garnishment. Garnishees may be summoned u'nder writs of attachment or execution. A garnishee may discharge himself by delivering up the property or paying the debt to the officer under order of court. Credits or property attached in the hands of a garnishee may be claimed by a third person, who may assert his title by interpleader. ·ot more than 10 per cent of the wages due for the last thirty days' ervice of tho head of a family and resident of this State can be garnL hed. Public corporations and their officer· are exempt from garni. hment, at; are also administrators and executors prior to an order of distribution. Holidays. January 1, February 22, :\lay 30, July 4, the first l\.Ionday of eptemher, an~· general primary election day, any general state election day. any thanksgiving day appointed hy the President or Governor, and December 2,> are public holidays; and when any of them fall on Sunday, the next day is such holiday. February 12, known as "Lincoln Day," and October 12, known a.s "Columbus Day" are also holidays, but are not such as respects commercial paper. Husband and Wife. (See :\-Iarried ,,·omen.) Income Tax. A tax of one and one-half per centum is levied upon tbe annual income of individuals and corporations, with proYisions for certain deductions and exemptions. Inheritance Tax. A tax is levied upon the estates of deceased persons varying from one to five per cent, depending on the relation of the beneficiary to the deceased, and exceeding those rates when the value of the property rereived by a beneficiary exceeds $20,000, with certain exemptions in favor of di.trerent classes of persons mentioned in the law. Interest. Legal rate 6 per cent, but by ae;reement in writing any rate not exceeding s per cent. The legal rate is collectible on moneys after they l.Jecome due; on ,nitten contracts or accounts. after due and demand made; on money recovered for the use of another and retained without the owner's knowlede;e. If usurious interest ha.s been paid that part in excess of the legal rate is deemed payment, i\lld credited on the debt, the holcler of which recovers the debt only with le!!al interest after cledul'ting uch payments, and costs are adjudged against him. The rec.:eipt or exaction of usurious intere ·t, upon a debt secnred by lien upon personal property renders the lion im·aJid. Parties may contract that interest may be compounded, but not oftener than once in a year. Judgment,;. Jud:.rments and decree renrlered by a court of record are liens on the real est a e of the person all'ainst whom thPy are rendered situate in tlle county for which the court is held. Tran. cript of a judgment flied in the office of the clerk of the circuit court of anY other county becomes a lien upon real estate in such county. The lien of a judgment continues for three years, and may he revived at au time within ten year from it· rendition. E ·ecution may i sue at any time within ten year: fro 1 the rendition of a judgment. When two or more judgments are rendered at the . ame term as hetweeu parties entitled to the judgments. the liens commence on the lac.;t daY of the term at which they are rendered. Judgments hear interest at ti per cent, but if upon contracts bea:-ing morn than 6 per cent, the judgment bears the rate of the contract. Liens. Statutory provi.-ions exist for mechani ·' llens, liens of keeping horses and oi her animals, lieu.· of inn and hoarding-house keepers, lien· of contractors, material-men, and laborers against railroads. Limitations. Actions mnc.;t be commenced within ten years: 1. Upon any vriting for the payment of money or property. 2. On any covenants of warranty or seizin c ntaine<l ln any deed. 3, For recovery of lands. •I. l'or relief nut otherwise proYided for. \Vithin five years: 1. l pon contract·. expre.-s or implied, except judgments or decrees or court. 2. Gpon a statutory liability other than a penalty or forfeittlre. 3. Tre. pa s. 4. Replevin, and for any other injury to tho person or rights of another not ari:lng on con-f tract and not otherwise enumerated. 5. For relief on the ground of fraud. Within three years. I. Against public of lcen:; for act-; o oillcial commi ·sion or omission. 2. For a penalty or forfeiture where the action is given to a party or a party and the State. \\'ithin two years: Actions for libel, ·larnler. a.· ault, battery, fa! e impri,;onmont. or criminal conver ation. :tatute d es not b "in to run against _a resident of this • tale who i ab .ent at the time it accrues, until return; if he depart after it accrues, the period of his ah. once is no counted. Acknowledgmt'n or promi es. to take a C::l e from tbO operation of the :tatute, mu,,t be in writin~. Ju1l..,ment, are presumed to be paid after ten years. au e of acrion barred by tllO laws of the tate in which it ori"'inated is barred in this State. Liin.ited Pn.rtnershio. . !ay con ·i,,t of one or more ireneral an~ one or more . p ·cial partners. .. pecial partner· contrihuting a .specified amount in cash to the capital are not personally liable for the debts  hii  BANKING AND COMMERCIAL LAWS-MONTANA of the partnership and have no power to transact its bu,incss. A verified statement of the terms of the partnership mu ·t be flied with the recorder of the county. There can be no limited partn rship for the business of insurance or banking. l\larried \Vomen. A married woman is deemed a femme sole so far as to enable her to car1·y on 01· transact busine.· on her own account. to contract and be contracted witb, to sue and be sued, to enforce or have enforced against her property such judgments a may be rendered for or against her. and may sue or be sued at law or in equity, with or without. her husband being joined a.· a party. Her real estate and personal property cannot be taken by any process of law for the debts of her husband. Neither the rents, issue.. or products of her real estate, nor the interest of her husband in her right in any real estate, can be levied on for his debts. Mortgages. l\Iortgages on real estate are e.·ecuted like deed . Husband and wife must join to Qar dower or home tead, except to secure purchase money. The common form of real estate sE>c·urity is a deed of trust with power of sale in the trustee upon default in ale is at public auc,ion upon twenty the payment o the debt. or more days' public notice, as may be provided in the instrument. The trustee executes deed to the purchaser. There is no redemption from sale unless the holder of the debt is the purchaser, in wllicl1 case the debtor may redeem within one year if he gives written notice at the sale or within the preceding ten days of his purpose, and within twenty days after sale give security for payment of interest ot accrue Within the year and all interest on prior incumbrances paid by the creditor and taxes and a! se: ments accruing during the :rear. Evidences of debt secm·ed by mortgage or deed of trust must be produced to the recorder when satisfaction is entered. .1. -o foreil(n corporation or individual may act as trustl'e in any deed of trust unless there be named as co-tru. tee a .M i.·souri corporation or indi\'idual citizen of this state, and the resident trustee must be a party plaintiff in an action to foreclose. Chattel mortgages are invalid except as between the parties unless possession of the property be taken and retained by the mort.gagee or the mortgage be acknowledged and recorded in the county of the mortgagor in the same manner as conveyances of real estate. or unless the mortgage or a copy thereof be filed on the office of the recorder of the county of the mortgagor, or, where he is a 11on-resideut of the State. then in the office of the recorder of the county in which the property is situated. Every such mortgage cea.-;es to be valid after the expirat-ion of five ~·ears from the filing of the ·amc. cgotiable Instruments. The General As:embly of this . tate has codified the law of negotiahle instruments by the passage of" An act relatin~ to the negotiable in trument , to re,·ise and codify the law concerning the same, and t,o establish a law uniform with that of other states on the subject." The act is the .. ame as that adopted by many other states in accordance with the recomruendaLion of the American Bar Association. It becan1e effective in Mi.· ouri, June 16, 190,5.  Power of Attorney. Au instrument of wri ing containing a power to do any act or business, including the conveyance of real estate, as agent or attorney for another, when acknowledged in the same form i"f~~~:~if~~~eeds, may be read in evidence without further proof  ~i  rd 1dof ny  he an at en  of  se  st  Probate Law. (See Administration of Estate.. ) Protest. (See Negotiable Instruments.) Re11levin. Goods or cbattels wrongfully taken or retained may be replevied by the owner or party entitled to po.·se, sion. _Atndavit must be flied and bond in double the \'alue of the property given. In certain cases defendant may retain possession of the propertl· by giving a bon<l in double its value. If plaintiff fail in his uit, defendant recovers judgment against plaintif? and the sureties on the bond for the value of the property and damage·. Taxes. State and county taxes are usually paid in November or December. If not ])aid, they are regarded as delinquent from the first day of the succeeding January. 'tate and county taxes for each year are a lien upon the real estate from the tlr ·t day of June of the pr~ceding year. Delinqueut slate and county ta es are ~9llected by suit. '.Municipal taxes ar pa;vable according to the prov1s1ons of the charters or general laws by which th y may he go,·erned. In some cases the payment of delinquent city taxes ma)· he enforced by a sale of tho property without suit; in others, suit must be brought b_efore sale can be made. There is no redemption from a sale under a Judgment for ·tate and county taxos. Redemption is usually allowed in a sale for city taxe · under the provbion of the particular charter. Wages. (See Garnishments; Exemptions.) .Wills. Every male person twenty-one years o~ age may, b.Y his last will, devise all of his est.ate, real, personal, and m1x~d, and m; ery male over the age of eighteen years may bequeath h1': personal e.-;t~te. Women of eighteen years of ap;e and up"ard_. married or unmarried, may devise tbeit· real estate and bequeath their personal property. !',. ":ill must be in writing, signed by the testator or some per ·on by hlS d1rertion in his presen<'e, and must bo atte ·ted by t_wo or more competent witnesses sub. cribing their names to the ,,111 m the prc..;ence C?f the testator. If after making tbe will t,he testator ~hall marry and die le_aving issue of the m1u·riage livinp; at the time of In· death. or _born to hun after bis death, the will sball be deemed re..-oked .• The will of ~n unmarried woman is re,•okcd by her ·ub ·equent rnar_nage. . If a chlid or children or the desc ndants of such child of ch!lclren, JU ca e ~r their death' are not named or provided for in tbe will, the te...;tator 1s deemed to ·have died intestate as to such child or children or their descendants. Will: must be prc:ented for probate to the probate court of the county in which was the place of abod of the te:-tator. Wills may be contested within 1,wo years after the probat.e th~rcof by Petition to the circuit court of the county. Heal c ·tat.e JU this tate may be devised by last will executed and proved accordm!! t_o the laws of this St-ate. Personal estate may be beql}-eatl!ed accordmg to the laws of the state or country in , hich the will shall be made.  or. pt er for nof of ere wo  nt.  a l1iS ot be robe  1909  SYNOPSIS OF  THE LAWS OF MONTANA RELATL.G TO  BANKING AND COMMERCIAL USAGES Revised by  CHARLES  E.  PEw,  Attorney at Law, Ilelena.  Abstractors. Mu ·t give $.5,000 hond to state and shall receive certil1cate from StaLe 'rreasurer authorizing him to do bu:ine: s. Abstract furnished by authorized abstracter admitted in court has prima facie evidence of contents. Acknowledgments of instrument. may be taken in this State. 1. llefore supreme court justice, district judge, justice of the peace clerk of any court of record, county clerk, notary public, or U. S. Com~ mis. ioner. 2. Outside :'.\:Iontana in the United Before the justice, judge or clerk of any court of record of the United States or any state or territory; a conuui.· iouur appointed by the governor for that purpose, a 11otary public, or any other officer authorized to take acknowledgments. 3. Outside United 'tates before minist,er, commissioner or charge d 'affairs. consul, ,·ice-consul or consular agent of the United State ·, a judge of court of record, commissioner appointed by governor or notary public. In all ca ·e · acknowledgment must be taken within jurisdiction of officer taking. Must be in substantially following form: "State of ........... . countyof . . ...... . . s.s. Outhis ........ dayof .... 10 .. before (name of quality of officer) personally appeared. . . . . . . . . . known to me (or proved on oath of ...... Lo be the person whose name is subscribed to the within instrument, and acknowledged to me that he (or they) executed the same." Same for married women. In c~-e of corporation . ame to then "president or vice-president (or secretary or ar islant secretary) of the corporation that executed the within instrument and acknowledged to n1e that such corporation executed the same," and in ca.e of attorney in fact, "whose name is subscribed to tbe within instrument a<; attorney in fact of ......... . and acknowlodged to me that he suhscribed the name of .........• theruto as principal. and his own name a.-; attorney-in-fact." Outside the county must be accompanied by certificate of county clerk. otice to Administra.tion of Estate is had in district courts. creditor publi!-.bed four weeks. < !aims not presented in four months after first notice, if estate 10,000 or less, or ten months if over 10,000, are barred. Letters of administration granted to: 1. Surviving husband or wife or competent appointee. 2. bild. a. Father or mother. 4, Brother. 5. Rister. O. Grandchild. 7. ~ ext of kin who inherits. . Public administrator. O. Creditor. 10. Any person legally competent. ·when several claim right and equally entitled. court appoints, preferring males to female and whole blood to half blood. Afflda\·it may be taken or oaths administered before any judicial omcer, clork of any cotu·t, county clerk or notary public in thi:- .'tate; in any other state before a commissioner appointed by the governor notary public, or judge or clerk of any court of record having a seal; in a foreign country before an ambassador, minister, consul. viceconsul, or consular agent of the United 'ta.tes, or judge of a court of record having a seal. ,Yhen taken before a judge in any other state or foreign country, the existence of the court, signature and official character of tbe judge must be certified by the clerk of ··uch court, under its seal. Aliens and Denizens have same right ru citizens to acquire, use and di pose of ntining prope1·ty and real estate in connection therewith. Arbitration. Any controversy except over title to real property may bo submitted to at·bitration by a writ.ten agreement to that e!fect flied in <'ourt an<l may be made an order of court. ,vhen made an order of court 1s irrevocable; otberwi. e it i' revocable at any time before award. An agreement t,o arbitrate. cannot bo specifically enforced. Arre. t. Defendant in a civil action may be arrested when about to leave the State or conceal his proper1,y, with intent to defraud c1·editors, and in certain other action where fraud, wilful injury, or wilful violation of duty, or wrongful com·ersion of money or property by a public otllcer or a fiduciary, or for tine or penalty. A sho1ments. Voluntary assignments for benefit or creditors allowed if without, conditional preference, not coercive, Impartial without resen ation for fraudulent benefit of assignor, and does not confer power upon a.· ignee to delay execution or the trust, nor exempt him from liability for negligence or misconduct. I under partial supervision of the district court. Attachments. Writ of may he had at the time of issuing summons or any time thereafter in actio11s upon unsecured contracts expre.-;s or in1plied for direct payment of money, or if contra<:t, originally securecl, when security bas be<'ome worthless wit.bout plaintiif's f?,ult. ls issued upon a~da';'it on 1,cbalf of P!aintiff, after filing bond m double amount of claim, 1f under $1,000; 1f over, in amount of claim; bond never to exceed .., 10,000. Any property, real or personal, or debt due from or money or personal property held by third pet·son, including judgments, may be attached. Banks. No special provision regarding national banks except that all banks, organized under laws of this tate or the uited Stat.cs hall be taxed for value of its stock in county, town, city or district b~~~~ ~ocated a.lld not el ewbere, regar<.lle - of residence of stockBanks of discount and deposit, incorporated under laws of Montana for no~ less than 20,00~. all pai~ in cash, may do bu.-lne. s when authonzed by state auditor, certificate of auditor to be published  nd  ci-  ts  121 Federal Reserve Bank of St. Louis Federal Reserve Bank of St. Louis  BANKING AND COMMERCIAL LAWS-MONTANA  1910  four times in town or county where located. Each director must own at least ten shares of the bank's stock. Bank may deal in real estate only as is necessary to the proper transaction of its business, or in realizing upon securities. Directors must declare semi-annual dividend out of net earnings, and at same time make report to State auditor of assets and liabilities, and publish once. Stockholders are liable for banks' debts to extent of stock held by them. Their liability continues six months after a tran fer of the stock. Failure to comply wit.h requirements for sixty days forfeits franchise. The total liability of any person, firm, corporation, or company to any such bank for money borrowed shall at no time exceed fifteen per cent of paid in capital and permanent surplus; this does not apply to discount of bills of exchange drawn upon existing values or of commercial paper owned by person negotiating same. Each such bank mm:;t keep on hand funds equal to 20 per cent of its immediate liabilities half cash and half balances due from solvent bank. One hundred dollars to five hundred dollars penalty for making new loans while reserve below the ptoportion. Laws provide for state examiner, who visits and examines financial condition of banks yearly. Banks charged certain fee._ for State examiner fund . Any employee, officer, or agent of any bank or person doing a bank business, who receives deposits knowing or having reason to know that such banking institution is unsafe or insolvent, is guilty of felony, and is liable to imprisonment for one to twenty years. Banks may be dissolved by district court upon voluntary application, or when declared insolvent by state examiner. Saving bank corporation may be organized with not less than $100,000 nor more than $500,000 capital divided into shares of $100 each, $100,000 to be subscribed in cash before beginning business. May do a general deposit and loan business. Stockholders liability to same extent as in other banks. Foreign banking corporations may establish branch banks in this State upon compliance with certain special laws. Bank Is not liable for payment of forge('} or raised check, unless claim is made within one year check is returned paid to depositor. (Session 1909.) Liable for non-payment of check without malice only to amount of damages proven. Contracts. Contracts of conditional sale retaining title In vendor must be filed with county clerk or are void as to bona fide purchasers, mortgages or attaching creditors prior to filing. Conveyances. Title to property of any kind (except a mere possibility not coupled with an interest), including a right of re-entry for breach of condition suj)sequent, and property in the adverse po· ession of another, may be transferred. Deed to several persons, except to executors and trustees, creates tenancy in common, unless expressly  ~et~nef. tJ~~t ;;g;:~ryii!~fe~e:g•a ~~e liiYesfii1~~et~l~Iass~~.?e: nants that the grantor has made no previous deed to any other person, and that the premises are free from encumbrance by the grantor or any one claiming under him are implied from u e of word "grant." A married woman joining with her husband in any instruments affecting real property is bound thereby the same as though single if duly acknowledged by her. Instruments affecting real property may, if acknowledged, be recorded, and such rocord imparts notice to the world. (See Acknowledgments.) Corporations are found under the general statute, except banking, insurance and railroad corporations, and corporations not for profit, which are governed by special laws. Stockholders have one vote for each share, may vote in person or by proxy, and may cumulate votes in director elections. Articles of incorporations flied in county where principal otnce located, and copy filed with secretary of State, many hold only necessary real estate; from three to thirteen directors, who may be empowered to make by-laws; may classify directors: control business; stock issued for money or property; stock liability limited to unpaid portion, directors assenting to creation of debts beyond sub cribed capital stock or making dividends out of capital stock are jointly and severally liable therefor; stockholder may examine books; written transfer or power of attorney to sell, and delivery of certificate passes title, between parties and against creditors; may be attached on books of corporation. Every domestic corporation having a capital stock must file report in county clerk's office, within twenty days after December 31st of each year, showing amount of capital stock, amount paid in cash, and amount paid in property, amount of existing debts, and names and addresses of directors, president, vice-president, general manager and secretary; directors neglecting to file are jointly and severally liable for debts existing during failure to fl.le, director may exonerate himself by filing within ten days after default affidavit showing that during the twenty days he asked president or sufficient directors to file, and that default is not due to bis neglect. Subject to State tax of one per cent on net income over Sl0,000. Foreign corporations, except insurance companies and corporations otherwise provided for, may do business after filing with secretary of state and in county where intend to do busine , copy of charter and verified statement of president and secretary, showing name, capital stock, amount paid m money or property, assets and of what consist, and their actual cash value, and amount of liabilities; also a consent to be sued and appointment of agent for service of process and acceptance of same. Must pay to Secretary of State filing fees upon proportion of business and assets in Montana to total business and assets of corporation. If capital increa: ed or diminished must fl.le certificate thereof with secretary of state and county clerk and refusal to do so forfeits right to do business in State. Must within two months after April 1st, file report like verified statement just mentioned, in county clerk's office, and copy with secretary of state. Can have no greater rights or privileges than domestic corporations. Foreign Corporations doing business in this State are made subject to the jurisdiction of the courts of this State the same as domestic corpol'ations and their stock is made attachable in this State. (Session 1909.) May be served, if no officer, agent or other representative can be found In Montana, by leaving process with Secretary of State. (Laws 1917.) Foreign incorporations subject to State tax of one per cent on net Income over $10,000 on business done in Montana. (Laws 1917.) Courts. District courts have original jurisdiction in law and equity where over $50 involved; have probate and criminal jurisdiction. City police courts of petty criminal jurisdiction. Justices of peace limited to $300, petty criminal cases; cannot try title to land, nor questions of constitutionality. Appeals lie from justice to district and from district to supreme court. Supreme court appellate court of last resort, except has original jurisdiction in applications for habeas corpus and similar writs.  Days ot..Grace.  None.  Depositions of resident may be taken when witness is a party in Interest, or resides out of the county, or is about to leave and will probably continue absent, or is too infirm to attend; or the testimony is to be used on a motion, or when witness is only one who can establish a material fact and hi'l presence cannot be procured at the trial.  ~=r!~~~o~:lri~ uri~!~f ~~~;~~fJe~i ~fhi~fh~~:3~t'!~~n judge may issue commission upon five days' notice, if parties do not If out of United States, may be directed to a minister, ambassador, consuJ. agree upon person, to any judge, or justice or commissioner.  vice-consul or consular agent of the United States in such country, or to such person as may be agreed upon. Examination of nonresidents unles,;; otherwise agreed, must be by written interrogatories. Descent. Intestates' real and personal property, subject to payment of debts, descends as follows: If widow or surviving husband and one child, half to each; if widow or surviving husband, and more than one child or one child and lawful issue of one or more decea-;;ed child, one-third to husband or wife and two-thirds to such children and issue per stirpes; if no child living, two-thirds to lineal descendants, equally if of same degree, if not, per stirpes; if issue and no husband or wife, whose estate to issue if such issue consists of more than one child living and lawful issue of deceased child or children, then in equal shares to living children and issue of deceased children per stirpes; if no issue, one-half to husband or wife and one-half to father and mother in equal shares, or if either be dead, the whole half goes to the survivor. If no father or mother one-half in equal shares to brothers and sisters or their children per stirpes. If no issue nor husband or wife, entire estate to father and mother equally, or to survivor. If no is.'lue father, mother, husband, no wife, in equal shares to brothers and sisters and to children of any deceased brother or sister per stirpes. If surviving husband or wife. and neither issue father, mother, brother. nor sister, entire estate to husband or wife; if none of above mentioned, to next of kin in equal degree, claiming through nearest ancestor; if leaves more than one child, or one and the issue of one or more deceased children, and any such child die unmarried under age, his share goes to children of same parent or their issue per stirpes. If no husband, wife or kindred, the property escheats to State. Illeg!Umate child is heir of person who acknowledges himself, in writing before a competent witness, to be its father and is an heir of his mother; if parents intermarry, is legitimatized. Dower. Curtesy abolished. Wife endowed of third of lands owned by husband during marriage. Equitable estates and contracts included. No dower in lands mortgaged for purchase price as against mortgagee, not in lands conveyed to him by way of mortgage unless be acquire absolute title during lifetime, Devise or bequest bars widow's dower unless otherwise expressed in will, but she may elect between devise or bequest and dower, within one year In writing. If husband die leaving no children nor descendants of children, widow may have, absolutely, one-half of all his estate after payment of debts, if she elect within two months after payment of debts. A woman may be barred of dower by jointure with her assent before marriage, consisting of freehold in lands of life, at least, beginning at death of husband. Dower is not affected by wife's deed. • Execution unless stayed by order of court, may issue at once upon rendition of judgment; becomes lien on personalty, upon seizure by officer holding writ. All property sold to highest bidder. Defendant or creditor may redeem from sale of real estate within year, or sixty days after previous redemption. Exemptions. To bead of family, homestead to value of $2,500, and descends as such to surviving wife or husband and children. Head of family allowed wearing apparel, chairs, tables, books, at $200, all necessary household good'! and certain domestic animals and provisions for three months; forty-five days earnings exempt where necessary for support of family. except one-half such earnings may be taken for debts for necessaries. Generally, tools and implements of trade, libraries, etc., of professional men who are heads of families, are exempt. Fraud. It is criminal fraud to attempt to obtain insurance money 1 1 fr:~d~ie;f~ejJ~Yf?;JYito~°ic i~~iifi~!t~ p?!d~;'!,~~ or evidence of shares of any corporation, or any officer to sign any such certificate; unauthorized use of another's name in selling stock· for a director, officer, or agent of corporation to publish false report of its affairs; to fal. ely represent one's self as competent to sell or mortgage real e tate when signature of husband or wife is necessary; to get money or property by false repre entatlons as to wealth or mercantile character: to sell any land after having once sold or agreed in writing to sell the same to another; to convey any real or personal property with intent to defraud and deceive others or to binder or delay creditors; to wilfully certify any false acknowledgment with intent to defraud; to issue any false warehouse receipts or to wrongfully remove or dispose of any property for which a warehouse receipt has been issued, for the mortgagor to dispose in any manner of any property covered by chattel mortgage. Any negotiable instrument procured by fraud or circumvention to be executed is void even in hands of innocent holder. Frauds, Statute of. Agreement of executor or administrator to answer for obligation of decedent out of bis own estate; agreement not to be performed in one year; promi e to answer for obligation of another, unless it i made an original obligation of promissory; an agreement upon consideration of marriage, except mutual promise to marry; for sale of personalty at a price of over 200, unlei-s part of price paid or part of ~oods accepted, except at auction sale when auct.ioneer enter sale in ale book; lease for over one year; for sale of · realty, or authorizin~ broker or agent to ell land for compensation; is void unless In writing signed by party to be charged or his agent duly authorized (in writing in case of agreements affecting real estate). Every transfer of property or charge thereon made, every obligation  ~~~f!~lr;  1~f. !,  0  ~1f~s  ~iirr~tmet~Yd~Yf;c:; S!frat~1t~~/~~iti;do:~~tierac~~i~ demands, is void against all creditors of the debtor and t~eir representatives or successors in interest, and against any person upon whom the estate of the debtor devolves in trust for the benefit of others than debtor. All declarations of trust in land shall be in writing, except resulting trusts or trusts created by implication or operation of law. Hu band and u,ife. Husband must support wife if able; if not, she must assist; husband ha no curtesy; wife has dower; neither can be excluded from others dwelling; may contract with each other. or any other person·, the same a.'! though unmarried; cannot alter legal relation by conLract. except may agree to immediate separation. mutual consent being sufficient consideration: may hold property jointly or in common; wife may sue and defend alone; all property of wife is her separate property, and she can convey, or execute power of attorney thereon without husband's coru ent. Ber deed must be acknowledged. Filing inventory of her personal property exempts same from claims against husband, except for necessaries for herself and her children. 1Vife mu t support husband out of her property if he is infirm. Wife ipay dispo ·e of her property by will, except that such will must not, without his written consent, deprive husband ot over two-thirds of her real estate or two-thirds of her personal property; wife may make contract, etc., the same as though smgle. If neglect to support his wife, bills for necessaries sold her can be collected support stipufrom him, but not when separated by consent, unl lated in such agreement. Interest. Eight per cent on judgments and damages. In other cases 8 per cent in absence of agreement. lVIay contract for not more than 10 per cent per annum. .Judginent of courts of record (including federal courts of county) if transcript of such judgment if flied in district court are lien on realty in county for six years; realty in another county becomes subject to lien upon ftling of transcript of judgment In such county. Abstract of justice court judgment becomes lien on realty in anY county where flied in dlstrict court.  BANKING AND COMMERCIAL LAWS-NEBRASKA Liens. Laborers and materialmen have lien, for labor or material, on property. Must file in county clerk's office within ninety days and suit must be brought within a year after filing. Hotel, boarding, and lodging house keepers have lien on baggage of guests brought into such house. One performing service with respect to personal property, including feed and care of animals, has a lien upon such personalty or animals. Person furnishing another seed grain bas lien  i~o  fi~~~h~\J~ ~~~eofa~~l~~: ~~gh~~P~rftidui~rii~~min ~uts~ and Recorder. Such lien is prior to all other encumbrances. Threshermen have lien upon crops threshed for services in threshing subject only to seed lien. Verified lien must be filed in the office of the Clerk and Recorder. Limitations of Actions. Action upon judgment ot any court of record, action to redeem from mortgage when mortgagee is in possession, ten years; actions for recovery of real estate or mesne profits thereof, ten years, but in such cases statute does not run against  Pne::~~. ~~Yi:;rls~~!~~nt~~tu?;!r ~;:;;~1~r fe:SCiit~~ i\}e~ ~lii°~ug~ 0  0  ~i~~ga  ~i~~ri~~!rs~ei1e~~tabt~i l~~i.t~~cJce!fe~ug; d~~tfo";~i~ill~nor judgment of a court not of record, five years; against sheriff, coroner, or constable for breach of official duty, action for damages for wrongful death, or for obligation not in writing, other than a contract, account of promise, three years, upon statutory liability for waste or trespass, detainer of or injury to chattels, for relief on ground of fraud or mistake, or for libel, slander, assault, battery, false imprisonment or seduction against a railroad for killing or injuring live stock two years. Against a sheriff or other officer for escape of civil pri oner; against municipality for violation of ordinance, against officer for money or property taken as such, one year; to recover stock sold for delinquent assessment, and actions against a county after rejection of claim by county commissioners, six. mont,h s. All cases not specifically mentioned, five days. Statute does not run during ab:;;ence of defendant from this State. Loans. Farmers loan department established. Married Women. (See Husband and Wife.) Mortgages of real estate are executed same as deeds. Husband and wife must join to bar dower or homestead, except purchase money mortgages. Non-judicial sale under power valid. Lien good for eight years after maturity of debt, and may be renewed IJY affidavit for eight years more. As to any mortgage now existing as to which eight years or more elapsed same may be renewed for eight years by filing affidavit in six months from February 17, 1913. Chattel mortgage must be duly acknowledged and be accompanied by affidavit of mortgagee that same is made in good faith and not to hinderA delay. or defraud creditors; not valid except between parties untu nled in county where property is situated. Lien good until maturity of debt not exceeding two years and sixty days. May be renewed by filing affidavit within sixty days after expiration of two Years, stating amount still due, and alleging good faith, etc. Negotiable Instruments. Must be payable in money and must contain an unconditional promise to pay a sum certain on demand or at a fixed or determinable future time; must be payable to order or to bearer; may be in installments and contain provision that on any default the whole shall become due; with exchange fL~ed or current rate, intere t and attorney's fees for collection may authorize sale of collaterals and confession of judgment; if it reads "I promise to pay" all signers are jointly and severally liable; may be payable at fixed time after date or sight, or after specified certain event, but not upon a contingency; need not specify value given nor place where drawn or payable; if issued, accepted, or endorsed when overdue it is payable on demand; may be payable to two or more payees jointly, or one or more of several payee ; absence or failure of consideration a defense against one not a holder in due course and partial failure a defense pro tanto. One not a party to instrument placing a signature in blank before delivery becomes an endorser. Every endorser engages that on due presentment it shall be honored or that he will pay the amount to holder or any subsequent endorser who may be compelled to pay; no days of grace; when maturity falls on Sunday or holiday payment is due on next business day; if due on Saturday must be pre ented on next business day, but if payable on demand holder may present same before noon on Saturday. Fraud and ciri~h~~~~ in procuring execution of instrument is a defense against  y  Presentment. It is not necessary to charge one primarily liable if payable at special place; ability and willingness to I?aY it there at maturity is equivalent to a tender, if not on d~m!),nd it must be I?resented on day it falls due. if on demand then w1thm a reasonable .tm?,e after its issue, except a bill of exchange must be presented withm . reasonable time after its la t negotiation. Alterations. Fraudulent or material, do not afl'ect origmal instrument in hands of innocent holder in due course. Acceptance Unconditional promise in writing to accept a bill before or after drawn is good in favor of all who take it upon faith thereof for value The holder may decline a qualified acceptance and treat the bill as dishonored; if be takes qualified acceptance drawer and endorsers are discharged, unless they consent there~o. Protest !of foreign bills may be made by notary pubhc or by any respectable resident of the place in presence of two or more credible Witnesses; bill of exchange does not operate to assign funds in hands of drawee and he is not liable unless be accepts. Promissory Note. Must be unconditional promise in writing to Pay on demand or at fixed or determinable time a um certain in money to order or bearer, and where drawn .to _maker's own order is not complete until endor ed by him; may be mm tallments. A Check is a bill of exchange on a bank payable on demand; must be presented within reasonable time after i ue and if dishonored notice must be given or drawer is discharged to the extent of loss caused by delay· doos not operate to assign any part of ~rawer's funds in bank and bank is not liable unles it accepts or cert1fle. . If holder has check certified the drawer and endorsers are di cbar~eq.. The present negotiable instrument law of Montana .c?nSL',tmg of 198 sections went into force March 7, 1903. Its provl' ions do not apply to instruments made prior thereto. The act . so materia~ly changes the law in this State as to suggest the propriety of special examination in any doubtful case. This law is nearly lf not quite identical with that now in force in New York, Illinois, and other states. Replevln. The plaintiff in an action to rec;over P.O ~ssion of personal property may replevy the same at the trme of 1ssumg summons or at any time before answer, upon making affidavit showing that the Plaintiff is the owner of the property or entitled to po ·es. ion thereof, that it is wrongfully detained, and has not been taken for a tax, assessment or fine pursuant to a statute or seized under an attachment or an execution against the plaintiff, or if so seized that it is exempt, and also stating the actual value of the property. A demand for the delivery of the property should be indorsed upon the affidavit and an Undertaking in double the value of the property must be given. The defendant bas two days in which to except to plaintiff's sureties. or he may require the return of the property by giving; an undertaking in double the value of the propert,y. If such undertaking is not given Within five days from the replevY the property must be turned over to the plaintiff. Federal Reserve Bank of St. Louis  1911  Taxes. All kinds of property, except public property and property for beneficent purposes, are subject to tax for public purposes only. Such taxes a lien upon the property, which lien has the effect of an execution levied on all such as are delinquent after the 30th day of November, after which a penalty of 10 per cent is added. The delinquent tax list is published in some newspaper on or before tbe last Monday of each year, and in not less than twenty-one and not more than twenty-eight days after the first publication sale or the real estate is made, subject to redemption within thirty-six months from date of sale. The purchase money draws interest at 1 per cent  1!t\~ ~Jhif 1t~ t~A;~~ix ~~:t~g~r:~i ~;~1ti?1r~ ~at;;; ~e~ notice to the owner or occupant of the property. Taxes are assessed 0  0  to the party in whose name the property stands of record on the first Monday in March of each year. An inheritance tax of S5 tor every ~ggrtt~ihs~~J'rori;~rt~U:~~eby~~~ ~!1~~eai3t:i~li~ pay a tax of $1 for $100 worth of property inherited. ~states under $7,500 not liable for inheritance tax. Redemption may be made before deed by payment of taxes, 10 per cent penalty, 50 cents for publication, and interest at 1 per cent per month. Action to annul tax deed must be brought in two years after date of issuance. [Session 1909.J Wills. Every person over eighteen years of age and of sound mind may dispose of all his estate, real and personal, by will. All wills, except nuncupative, must be in writing. And all wills, except nuncupative and holographic, must be executed and attested as follows: 1. Must be subscribed by the testator himself, or some one in his presence and by his direction, must subscribe his name thereto. 2. The testator's signature must be made in the presence of the attesting witnesses or acknowledged to have been made by him or by his authority. 3. The testator must declare to the attesting witnesses that the instrument is his will. 4. There must be two attesting witnesses who must sign the will at the testator's request, in his presence. An holographic will is one entirely written by the testator himself and subject to no form. 'l'he estate bequeathed by a nuncupative will must not exceed Sl,000 in value, must be proved by two witnesses, must have been made in actual contemplation, fear, or peril of death, and must be proved within six months after stating the testamentary words unless the substance thereof was reduced to writing within thirty days after they were spoken. A will executed according to law of the State where the testator was then domiciled may be probated in this State.  ~fi~~:n  SYNOPSIS OF  THE LAWS OF NEBRASKA RELATING TO  BANKING AND COMMERCIAL USAGES Revised by MONTGOMERY, HALL & YOUNG,._f~torneys at La.w, Oma.ha. (See Card in Attorneys' LlSli,) Acknowledgments. (See Deeds, Notary Public) may be made in this State before a notary, judge or clerk of any court justice of the peace,. county clerk or deputy, register of deeds or deputy, deputy cle~k of d1stric1, or county court in name of his principal, secretary of ~tate, under seal, if the officer have one. If acknowledgment taken m any other state or territory, it must be in accordance with the laws of this State or of the state or territory where taken ;,.nd must be before some court of record or clerk or officer holding' seal thereof or a commissioner of deeds appointed by the governor of this State for that purpose, or notary public, or justice of peace, if before justice of the peace, acknowledgment must be accompanied by certificate of his official character under hand of clerk ot some court of record to which the seal of such court shall be affixed. If the officer have no f!eal, then the acknowledgment must have attached thereto a certificate of t~e clerk of a court of record, or other proper certifying officer of the district or state where ta.ken under the seal of hls office showing that the person taking the acknowledgment was a.t the dat~ thereof, such officer as he is therein represented to be that he .1s well acq~ain~ed with the handwriting of such officer; that he behaves the said signature of the officer to be genuine and that the deed er other instrument is acknowledged in accordance with the laws of such state, dis,trict, or territory. If acknowledgment taken In a fore~gn country, it ip.ay be acknowledged before any notary public, mimster plenipotentiary, extra.ordinary or resident charge d'affa.ires commissioner, commercial agent or consul of the United States.  In Federal Reserve Bank of St. Louis  1912  BANKING AND COMMERCIAL LAWS-NEBRASKA  executini;i; acknowledgment, notaries public must write in the date WhE!n their commissilln expires or el ·e said date must be imprinted on their seals. Acknowledgment . attestations, and alfida,·it before irifiiit~:i;r;t!~. foreign places are valid of officer authorized by  showing the a~ount loaned upon bonds and mortgages, amount loaned upon notes. bills of exchange, overdraft:. and other securities, with the actual market value thereof, tne amount of rediscounts and of commercial paper due, the amount invested in real estate. at 0 cost. th~ am~unt or. c~ h on hand and on deposit in hanks or trust compames, with their names and the amount deposited in Pacli, and A«?t~ons. Must be brought by real party in interest, except as to the amount of all other as.·ets, to....ether with uch other information admm1strator, trustee, etc. However, assignees of rhoses in artion as the h_ankin~ board may 1·equire. A summary of such report must assigned for purpose of collection may sue on any claim assigned in he pul ~1shed m some local newspaper and proof of such publication writin~; but such assignees mtL<;t give ecurity foi· costs. :!'Ton-resident transmitted to the department of trade and commence and such plaintiff must give security for costs. department, may calJ for special report· at an time. Failure to Adn1ini. tration ot Estates. (See De<'edents.) County courts make reports entails a penalty ~f 50 for each day's delinquency and have exclusive jurisdiction over estate . Administration is granted those makmg false s1aterncnts m such reports or in the books of the to widow or next of kin, or both, or some one selected b:v them. but if bank may be punished as felons. It is likewise a felony for a bank unsuitable, or if they fail for thirty days after death of a party to apply to receive moneys or permit. same to he receh·ed on deposit when the for letters, same may be i. sued to a creditor. or to some one selected hank is in<;olvent; . to loan t!) an ofJicer or employe of the corporation; by the jud~e. Executors and administrators must give bond. as or to loan to a director without the approval of a majority of the required by the court. and must, within three months after appointdirectors; to carry a~ a.":o:;e_ts any note or obligation of tho partnership, ment,, make report of all property belonging to deceased. General member thereof, or rnd1v1dual where sucb partnership or individual letters of administration are only is ·ued after due notice to parties clo a banking bu. iness; to permit shareholders. where tbe bank is a int_erested. and if ca. e is urgent a special administrator may be apcorpor~tion, to t?ecome indebted in a um exceeding 50 per cent of pomted who shall make report within two weeks. Personalty is disthe paid-up capital of such hank. Every stockholder i. · liable for 0 debt acc1·uing during his owner,:;hip of stock. for an amount equal g.~:~hci1:il!&i~r~r;;ur~~t e~!~ ~?~e~!~~i to the paid-up value of the shares held. and all shares of stock are are a lien upon all real estate. If no administration. within two years a-:sessed in. the place where the bank is locat eel, whether the owners any heir of deceased or any person having acquired real estate from thereof reside there or not. and ta:es are a lien upon the stock. A deceased or heirs may obtain from county court determination of guaranty fund is provided by a 'Cssments on all state banks based ~t~gfa~:~:ased degree of kinship and right of descent of real property upon the average daily deposits. Ulaims of depositors and of holders of ~xchange have priority over all other claims. except taxes. and, i;ubJect to taxes, are flrst,.lien on all assets of bank when hank closed. Affidavits. (See Depositions.) Affidavits may be made before Bank other than savings hank shall not permit loans and investments anyone authorized to take depo itions. and must be sub cribed in exclusiYe of reserve and banking house and fixture. to exceed fifteen presence of tbe oflker and sworn to before him, and this fact must be times amount of capital and surplus. All state banks in cities or stated in the affidavit. If made out. of State and the officer has no seal, over 25,000 must keep a reserve of 20 per cent, and t ,vo-flfths of the affidavit must have attached thereto a certificate of clerk of a court 20 per cent shall be ca.:·h in vaults. but tW(1-flfth.· of :aid two-fifth<; reciting authority of such officer. of 20 per cent may be in Liberty or other CT. ,·. war bonds. JledisAlien!!. on-resident aliens and foreign corporations may not own count and bills payable must not exceed paid-up capital and surplus or hold real estate in ebraska, but the widows and heirs of such aliens except for payment of depo. ·itor . 'tate banks and trust companies who held lands prior to March 15, 1 i.9. have ten years to dispose of may become members of federal re ·erve bank. It is unlawful to bid their lntere.·ts, and those who acquired their ownership prior to that or solicit for purchase of hank . tock above par until banking corpodate may dispose of same during their life. If not so dispo ed of. the ration organized and actually engaged in banking bu ·iness. Every lands escheat to the tate. However. non-resident aliens may acquire bani, must have reserve of 1f> per cent. One-third of the 1.5 per cent a lien upon real estate, and, pursuant or subsequent to such, may purmust be in cash in vaults of bank. chase such real estate. but. ball di,;po e of same \\ithin ten years from Bills of Exchange. C ee ~ otes and Bills of Exchange.) :~~~h°Jn!~q~~~nte1~!t~·ph Tt~tf~~~~si~~: ars~!!tetowft~l~oa{ii'e Blue Sky Law. Prohibits ale of most corporate securities except corporate limits of cities and towns. Only persons possessed of full upon permit by ~Hate Bureau of Securities. Detailed i;worn statecitizenship are eligible to vote or to b.old public office or official position. ments requir!Jd. Permit fee 10, if c..a.pital does not exceed 25,000, Arbitration. Instead of submitting a controversy to a court, otherwise ...,2.>; for each agent, one permit one dollar per year. 'tate parties may a~'Tee in writing to arbitrators, whoso decision, after confirtrade commi ion investigates and give· information but does not mation by the court, shall stand as a verdict. Judgment may then recommend ecurities. Commission must not excoed 15 per cent of be entered and execution issued. par value. organization and promotion not more than 2½ per cent. Preferred stock must have equal voting power with common ·tock. Arre ts. Arrest and imprisonment in civil actions for debt are abolished. Bulk Sales. (. ee ales.) Chattel :\rortgag . . Every chattel mortgage. if not accompanied Assi~n1entR. (See Exemptions, Acknowledgments.) Every by an immediate delivery of the good and be follow d by an actual assignment for benefit of creditors shall be made to the sherill of tbe and continued change of posse'sion thereof, i ab. olutely void as county, and . ball include all property of the a.:·signor, except suclt as again:t creditors of the. mortirar.t<?r and as against sub. equent purmay be exempt. Assignments shall be executed and acknowledged cha..;;ers and moi:tgall;ees rn good fa.1th unles: ·uch mortgage, or a copy the same as a deed to real estate. and within twenty-four hour· after thereof, be filed m the county clerks office wbere the mortgairor rel ides its execution shall be flied for record in tho county clerk's office, and and if he be a non-resident, then in the clerk's olllcc of the county if real estate is mentioned therein, it shall also bo recorded in tho where the mortgaged property he situated. . uch chattel mortga1£e register of deed's office. and within thirty days it shall be recorded in need no.t be acknowledger! nnle;·s it convey household good8 used in any otber county where property conveyed be situated. A creditor the family by the hushanrl an<l \\ife. or either, in which ca ·e it must be may file and pro,·e a claim and concurrent therewith, may pursue a signed and acknowledii,ed by both husband and wif . the same a.<; real separate remedy against the assignors for the collection of such claim. estate conveyances. Verbal mortgaires are good b >tween the parties. Conveyances, preferences, payments, pled!J;es or transfers of property It. is a felony ~o transfer or dispose of per:onal property mortgaged made by an insolvent debtor in contemplation of ucb insolvency, without procurrng the w ntten .:c;.;.~,mt of the mortgagee, or to remove within thirty days prior to making an a. signment. are void, except same out of tho county with intent t.o defraud the mortgagpe of his that the assignor may pay or secure clerks' or ervants' wages, not security. .:\'Iortgagor required to giye accounting for mortgaged propexceeding 100 to any one person, and may pay or secure any debt erty from time to time on demand of mortgagee, and to gi\'C mortcreated wit bin nine months prior to that, time and may secure any gal?ee notice in writinrr within 10 day after lo · or death of mortgaged debt contrarted simultaneously witb the p:iving of such security. articles or animals. Assignments of wages of head of family void unle s executed and acknowledged by husband and wife. laims. ( ee Account . Administration of Estates.) Attachments. The plaintiff at or after the commencement of an Comn1ercial Traveler . ( 'ee Liceu. es.) action may have an atLachment again ·t the defendant's property, Conditional Sale . ,-ale or lease of personalty may be made when the amount is due. by filing an affidavit showing any of the and title thereto retained in the vendor until the purchase price be following grounds: 1. That the defendant is a foreign corporation fully paid, or condition complied with, by havin the contract of' ale or non-resident of the State. 2. Has absconded with intent to or lease in writing signed by the vendee or le ·se . and then filing copy defraud creditors. 3. Has left the county of bis residence to avoid of same in the county clerk's office, with affidavit of vendor, h!.s agent the service of summons. 4. o conceals him elf that a summons or attorney attached thereto. giving names and full and true intere t cannot be served upon him. 5. ls about to remove bis property, of parties and description of the property. 'uch .sale or lea.·e .shall be or a part thereof. out of the juri, diction of the court with the intent invalid at expiration of five year· as against purcha ·ers in good faith, . to defraud his creditors. 6. Is about to convert hi<; property, or or judgment or a.tta.ching creditors. uni : the vendor or le or hall, part thereof into money for the purpo ·e of placing it beyond the within thirty days prior to the e.·piration of the five years. repeat the reach of his creditors. 7. Ilas proi erty or rights in action which he filing, which must be mad annually thereafter. Th '>8 sale· arc valid conceal . 8. Has assigned, removed, or disp .·ed of. or is about to as bet.ween the parties and a., agaia ·t judgment or at ching creditors di pose of his property, or a part thereof, with intent to defraud hi and subsequent purcha:er. and mortgagees with notice. creditors. 9. Fraudulently contracted the deht or, incurredtbe obligation for which suit is brought. The affidavit must further Consit01ment8. It is a felony on the part of a factor or agent to show the nature of plaintiff's claim. that it i · just and the amount whom goods have been con-igned to ·ell or ~ sign ·uch goods with which affiant believes plaintifr ought to recover. ~ ·o undertaking is reintent to defraud the O\rner. I: al o a felony for the owner of goods, quired where tbe defendant is a foreign corporation, or is a non-resiafter rereiving an advancl~ment upon the hipment, to <:ell or transfer dent of the State hut in such cases no attachment can be had for claim uch ~ood contrary to the agreement between him and the con ·ignee. other than debt or demand arising upon contract. judgment or decree, ContractR. Ev ry contract for the purchru·e or. ale of real estate or unless plaintill has heen bonaflde re:-ideut of state for sbc: months any interest therein, except, a lease for a period not exce ding one year preceding filling of petition. In all other cases plaintiff must give an from the makinl!: t!Jernof, must 1,e in '"Titlng and sub ibed by the undertaking in double the amount, of his claim. If property cannot be party to he charged. J~very ar.n·cement by its term.· uot to he perseized by the officer it may be reached by garni. hment proces-. To formed within oiie year from the making thereof, every p cial promise obtain attachment in an action not founded on contract, original to an ,rer for the debt, default or misdoin,zs of another, every agreepetition must be presented to judge of supreme, district or county ment. promise, undertaking made upon con.~ideration of marriage, court who shall make an allowance thereon of tne amount in value exrept mutual promise to marry, and every . pec:ial promi. e of an of the property that may he attached, and the amount of bond, if executor or adminlstr tor to an wcr damage out of bl. own e, tate, any, to be given by and every contract for th . ale of i:tood and thine: In action for Banking. Only ~ ~ational banks and state banks which are Inthe pr!C'e of 50. or more, ·ball be void uule. · not or memorandum corporated under the laws of , ·ebraska. can transact banking busibe in writing hy the party to be charged thereby. If, however. ne · here. Department of Trade and 'ommer<"e has general ._uperwhen rontrar.t for ale of 'OOd and chattels of the valu of ;:;o or vision and control of all state banks. Every state bank must obtain more is made. and a part of the purcha ·e price thereof i. paid, or a. charter from this de1iartment. Department appoints examiners ,vho part of the goods and chattel: are deliYercd. to the buyer, no memoraninvestigate a!Iairs of each bank. After eacu examination bank must dum I. necessary. (Sec , ta.tute of Fraud.) pay to state treasurer f'ee or 15 or more, according to capital. Savonve:yance . (. ee Deed .• lortgage ·. Conditional ales.) ings banks must have at least 15,000 capital; if in city of 50,000 orporation.. (. ce Foreign Corporation.. Illue. k)· Law.) Any to 100,000, $35,000; 100.000 or more. $75,000. Other hanks must have number of per ·ons may a.:·:oC'iate and incorporat for the tran action capital as follow:: :Minimum, ~I0.000; in town of 100 to 500, 15,000; of any lawful bu:-:ine: ·. luclulling the construction or canal·. railways, 500 to 1,000, 20.000: 1,000 to 2,000, 2fi,OOO: 2,000 to 5,000, 35,000; bridges, and other work· of int rnal imprm rncnt . !<.very corpo5,000 to 25,000. $.50,000; 25,000 to 100,000, Sl00.000; 100,000 or more, $200,000. Surh capital shall be in money, credits, national, state. 1 ration, as such, ha:· power: 1. To have ucre Ion by It corporate name. 2. To sue and be ·uecl, to romplain and defend in court of cquitY county or municipal bonds. bank furniture, and the bank building and and law. 3. To make and u. ea common al and alter the ame a pleai ground on which situated, which ground shall be unincumbered, but in ure. 4. To bold persoual e:-tMe and all uch real e tate a.s may be necesno case shall the bank building and ground. together with furniture and sary for the legitimate lm,:,in · of the corporation. .5. To ren,Jer all fixtures. exceed in value one-third or the furniture and fixtures alone interest of tbe . tockholder · transferable. G. To appoint U<'h sub10 per cent of tbe national, state, county and municipal bonds one-half ordinate officers and agents a tbe bu. lue of the orporation .. hall of the paid-up capital. Before commenr:ing hu<;ine:s the bank hal require, and allow t,bem a suitahl cornpcn ·atlon th r for. 7. To make a detailed statement of the propos d business to the Department by-laws no incon·lstent with any e.·i. ting law, for the manageof Trade and Commerce which, after approval. shall issue a charter. ment of its afl'ai.J. . Every corporation previou.s to the commencement Every bank must make at least quarterly detailed reports under oath,  -g_ws -  fl~!~~e l~td~~ ~t;r;i~~d  if  ii ~i:1  BANKING AND COMMERCIAL LAWS-NEBRASKA of any busine,-s, except its own organization, when the same is not formed by legislative enactmoot, mu. t adopt articles of incorporation and have them filed in the office of the secretary of state~ and domestic corporations must also file with the county clerk in the county where their headquarters are located. Banking corporations, insurance companies, holding Companie.·, and building and loan ru sociations must also file with Department of Trade and Commerce. The articles of incorporation must fix the highest amount of indebtedness of liability to which the corporation shall, at any one time, be subject, which must in no case exceed two-thirds of the capital stock. (Exceptions made for insurance companies, deposits in banlvl, loan and tru.·t companies.) l\Iu ' t incorporate within one year after organization, or power ceases. otice must be published in some newspaper near the principal place of bm,ine. ·s, for four week . Such notice shall contain: 1. The name of the corporation. 2. The principal place of transacting its husines. . a. General nature of tho business to be transacted. 4 . The amount of capital stock authorized, and the time and conditions on which it is to be paid in. 5. The time of commencement and termination of said corporation. 6. Hi11;hest amount of indebtedness or liability to which corporation is at any time to subject it,. elf. 7. By what officers the ail'airs of the corporation are to be conducted. The notice required mu.·t be published within four months from the time of filing such articles. Two-thirds of its members may dissolve corporation unle. s otherwi.·e adopted in articles of incorporation. Copy of by-laws of the corporation, with the name of all the officers appended there must be posted in some  fi~~Jf~f~~~ ~f,-~h~off;gea~~Ja~f~~ i~~~~~~ 'n!~~ie~Je~p~~~~~ in the county or counties, or in State if none in the county, of the amount of all existing debts of the corporation, igned by the president and a majority of the diroctori-. If corporation . hall fail to do so. stockholders of corporation shall he jointly and . eYerally liable for all the debts of the corporation after exhausting its asset , and for all debts contracted before i,aid notice is given . to the amount of tho unpaid individual ubscription of any stockholder to capital. stock, and in addition thereto tho amount of capital tock owned by such individual. All corporations, whether incorporated under laws of ~ ~ebra.,ka or an~, other Rtate, must procure a state occupation permit from ecretary of state, annually. before th y may do busine ·s here. Annual fees for !>UCh permit as follows ba ed upon capital tock on home companies, or on that portion of capital stock of foreign companies which represents 'ebraska business ('apital of 1,000 to . 10,000, fee of ~S-5; 10,000 to, 20,000, 10: . 20,000 to 30,ooo. $15; to 10.000. 20: -10,000 to , .">o,ooo. s2;;; ,;o.oon to . r,o,oon, . 30; $GO,OOO to 70,000, .• 35; 70,000 to 0,000, 40; 0,000 to. 90.000, t.'i: . 90,000 to 100,000, $.'iO; 100,000 to 12.5,000, oo: 125,000 to.100,000. 70: 150,000to 175,000, , 0; 175,000to 200,000. 90; $200,000 to $225,000, 100; $225,000 to $250,000, . 110; $250,000 to $27!>,000, 120; $27,,,ooo to $:100,000, 1:10; 300.000 to 825,000, HO: to 3r,o,ooo, rno; ar,o,ooo to uoo,ooo, IGO: to $450,000, . 170; $4,50,000 to 500.000. 1 O; 500,000 to sooo,ooo, $200; $600,000 to $700,000, $250; 700.000 to .. 00,000, 300; $800,000 to $900,000, 350; 900,000 to 1,000,000, $400; , 1,000,000 to 10,000,000, 400, and $75 additional for each million or fraction thereof over $1,000,000; $10,000,0 0 to 15,000,000, Sl ,200; 15,000,000 to 20,000,000. 1,500; 20,000,000 to 25,000.000, 2,000; over $25,000,000, 2,;;00. These fee , taxe and penalties are first lien on all property of the corporation. I•ee for domestic corporations payable July 1st. for foreign corporatioru·. during month of July. Fifteen p r cent penalty for ao days delinquency after 3 months wilful default, attorney general on reque. t of secretary of state must bring action to forfeit charter. Foreign corporation mu t appoint resident agent on whom proce.· may be ·erved. Costs. ( ee ~curity for osts.)  ~~in  Courts. (See Actions, Appeals.) Juvenile court· are est3:hlished for treatment and cont,rol or dependent. neglect d and dohnquent children. Justice and county courts are for all practical purposes, open at all times except holidays, but, their jurisdiction t: li~it~d. ~is~rlct. courts have general juri<,cliction, and !3a--.:e exclus1\'~ Jur1sd1ct1on ID certain casei-;. The t rm of the clLc;;tr1ct court ID each county are fixed by the presiding judge at the beginning o~ ea~h year. The supreme court has original jurisdiction in a re,~· c3:--es proy1~ed by statut,e. but its work is principally confined t~ rev1ewm~_dec1 ions of the di 'trict court,. l\Iunicipal courts are pronded for c1t1os. Curte y. Aboli.-,bed 1907. ( ee Decedents.) Days of Grace. (See otes.) Dec•edents. (, ee Admini. tration or gstate:.) If a party leaves no will his propor1y subje ·t _to ~is dch_ts as.follows: 1. One-fourth to the husband or wife if surnvor I;', n~t. the J?aren_t of the children. 2. One-third to the hui-;band or w1f~. if_ 'Urv1vor 1s Parent of t,be children. 3. One-half to husband or w1f .• if one or !10 child living. R&lduo t,o htootl relatives. 4. If no _children or wife surviving to tho chiltlron in equal shares and lawful 1: ·u of derca.: ed cltilti by 'representation. .5. If no issue. to father and or survivor. 6. If no issue nor pa1·cnts, in equal shai·c · t? brot;!1ers and sisters and children of such deceased, hy rcJ?r . ntat10n. , . If no parents nor brothers nor ·isters, to next of km ~n equal degree, but where there are two or more collateral kindred 11~ C!1ual dep:reo, but claiming through different, ancestors. ~ho_-,o cla111111!g \~roug~ near st, ancestor are preferred to those more 1omote. _J ro\l. !Of!. 1s also made for sur\'iving children dying under age unmarrwd. la1m · against state must b pr<'sent •d within time flxe~ by probate cour_t. or which notice is given l)y advertisement, and 1s 1~0~ le:s. tha_n six months nor more than t,wo years after letters of adm1111strat10n 1s ·ue. Dow()r and curtesy aro abolished. . needs. (See Acknowlodgmouts, l\Iarried Women.) • Iu~~ ~e signed in presence of one ·s and ackno11 lecl2;od. Grantor s se,tl not required. Deed <'on, oys all inter st of the grantor, unleS! a. contary intention is cxpr ssed. Dect!s and com·eyanc s must correctly state actual consideration, whore 1t exceed. 100. • Deposition. may be taken at any time af~er service of°:s, and mav be tised as e i<iencc only when the \ 1tnc ·s does not reside ID the ·oui1 ty of trial or i: absent therefrom, or is _unat~lc to atten~ col!rt, or is dead or when writ,tcn t st,imony is required Ill. tead of 1t bemg oral; may 'bo taken before ,·arious offleors, but, ar. u. ·ually tak n before a.notary public. Tho_otl!cer mul'it ~ot be a relauv or th~ attorney <if either party or otherwise mterosted m thee, nt of the act10n, ~nd this fa.ct should he stated in his certific-a.te attached Lo th cl poslt1ou. If taken out of tl;e state, anti tho olflcer has no. ea.I, a certificate under the great seal of the St,1lo, or of a clerk of court of reeord und r s~a.l should be appended, stating tha_t the olllcer was, at tho t1n1e of takmg the deposition, properly autbonzcd. Descent and Distribution. ( ee Decedents.) Dlstre s for Rent. No authority for it. Dower. Abolished 1907 (Soc Decedents.)  Emi,Io:rers Liability ct i!1 fore . API?lie · to emplorers ha--.1ng five or mol'O employes. Prov1des for medic l and ho:p1tal . e~--.1c s and schedule of benefits payable w kly. • Iax1mum for death, s;;,i;o; for Injuries not fatal. 4.500. and medicine. Federal Reserve Bank of St. Louis  1913  Estate . (See Decedents.) Executions. (See Judgment.s, Proceedings in Aid of Execution. Mortgages.) May issue at any time after judgment, if no stay bond be filed. and until five years thereafter. Land sold upon execution or decree of r,ourt may be redeemed by the debtor at any time before confirmation of such sale. A stay of execution is allowed by giving bond with approved sureties as follows: In district court within twenty days. on judgments not exceeding S,50, three months: $50 to $100, six months; exceeding $100, nine months. In justice and county courti-;, within ten days, as follows: $10 or under, stay of sixty days; 10 to $50, ninety days; $50 to $100, six months; over $100, nine months. Exemptions. A head of a family has exempt from levy and sale certain per. onal property and household furniture enumerated in the statute, and in addition thereto bas exempt a homestead not exceeding in value $2,000, exclusive of the mortga~e thereon, consi ting of a dwelling in which the party resides and appurtenances and 100 acres of land on which ame may be situated, or, at the option of the party, two contiguous lots in any incorporated city or village. Such exempt property shall be free from all judgment liens and from sale on execut,ion, except that the homestead may be sold on foreclosure of mechanics' liens, and of mortgages executed by both husband and wife. If party has no homestead as above stated, he shall have exempt the sum of $500 in personal property in addition to the articles enumerated by tatute. Mechanics, miners, or other persons, whether heads or families or not, haYe their tools and instruments exempt, and a professional man's library and implements are likewise exempt. All pension money, and property purchased and improved therewith, not exceeding $2,000 in value, is exempt. Exemption law does not apply to clain1s for clerks, laborers or mechanics' wages, nor can an attorney plead exemption in a suit for money or other valuable con: ideration received by him. Only 90 per cent of wages are exempt as against a debt fo1· necessaries of life. Foreign Corporations (, ee Corporations, Aliens.) may become domestic by filing with the secretary of state a true copy of charter or articles of association, together with a certified copy of resolution adopted by the board of directors accepting the provisions of the act of the legislature of Nebraska, Chapter 12. Laws of 1889; must make written r port to ecretary of ::itate annually in July in form prescribed by secretary of state and pay fee !>ame as occupation tax for dome ·tic corporations; must on or before September 15th, or each year, file a statement with attorney-general of State, sworn to, showing capital stock, its market value, how paid, names of officers, directors and agents, amount paid in dividends and rate of percentage thereof, all stock held in other corporations and value of such . tock. amount of its own st-ock held by other corporations and value thereor, a1 l amount of trust stock held by other corporations. Does not apply to in ·uranco companies or common carriers. Iust appoint agent and file name wit,h secretary of state and with register of deeds in county of principal place of business. Service may be had on such agent or on state auditor, Secretary of state charges feo or $50 for keeping record of agent. Penalty 1,000 flne. Agent or representative doing business hero for corporation that has no resident agent, subject to $2,3 fine. Does not apply to insurance companies and railroads. Any corporation whose product.;5 aro sold in N"ebraska must bave a resident agent on whom serv1co m legal action can be had. Sa.le by jobbers of goods of foreign corporations not so represented is prohibited. Fraud. (See Rtatute of Frauds, Limitations, Con ignments.) Conveyances made for the purpose of defrauding creditors are void and intent is deemed a question of fact, not of law. Garnishment.. (See Attachment.) Writ may be issued before judgment in attachment proceedings. After judgment and after execution returned nnsatisfled, writ will i ·ue by filing affidavit for same. No boud required after judgment. Holiday are January 1st, February 12th, February 22d, April 22d, May.30th, July 4th, first ~fonday in eptemb r. October 12th, '.rhanksgiving, and Deceml)er 25th. o court can be open, nor can any judicial busine. · he traru acted on a holiday or Sunday, except first, to give instructions to a jury then deliberating on their verdict; second, to receive a verdict or discharge a jury; third, to act as magi ·trate in a criminal proceeding; fo1rrth, to grant or refuse a temporary injunction or restraining order. If any such fall on Sunday, the next day shall be a holiday. Homestead. (See Exemptions.) Husband and Wife. (See Decedent. , Divorce, Evidence, Exemptions, Married Women, l\larriage.) Infanc:r. ::\!ales under twenty-one and females under eighteen are infants. County court appoints guardians, but if infant over fourteen years, may nominate his own. Infants' real estate may be sold or mortgaged to obtain funds for maintenance by permission of district court. In olvents. ( ee Assignments.) Interest. Legal rate is 7 per cent and contract rate 10 per cent. Judgments draw sam rate as specifl d in tho instrument on which judgment obtain d, ot!J.erwise 7 per cent. A contract is not avoided by usm·y, but in action thereon all payments are deducted from the principa.l and plaintilf recovers only the balance, without interest and pay · all costs. Judgments. (. ee Actions, Appeals, Exemptions, Executions. Interest.) Those recovered in district court are liens upon real estate of debtor from first day of term at which rendered, except those by confession and those rendered at tho same term at which action commenced are liens from date of rendition. Judgments of county and justice courts become liens from elate of filing transcript in the office of the clerk of the district court. Judgments may he made a lion upon lands in other counties by filing transcript· in the ofllce of the clork of the district court, in such counties. judgment becomos dormant in five years and lien upon real e-tate is lost if cxe ution not issued within that time. Aft r dorman<"y may be revived by certain proceedings. Dormant judgments cannot be re,ived unless action to revive be commenced within ten year. . In judgment · by confession cause of action must be stated in the judgm nt or in a WTiting filed a! a pleading. Deficiency judgment. may bo recov red in mort,gage foreclosure cases, if the deftcienry be l-uch thiit it may be recovered at law. Juri diction. ( ee Actions, Judgment·.) Ju~tic •s of the Peace. ( ee ourts, Judgments, Actions.) License. (Seo Insurance, Agents) Commercial travelers are not required to tak out a liceni-;e. '!'her is a provision in the code requiring peddlers and commission merchant. to take out a license. Does not, apply to person sellino; t,heil· own works or productions or books, charts, maps or other educational matter, or frosh meats fruit, farm products, trees or plants ex lu 'ively. ' Lien . ( ee Judgments.) Material men and laborers and mechanics are entitled to liens upon the building or improvements for material furnished and labor performed, by filing in the otnce of the register of d eds an itemized statement of account duly verified by Federal Reserve Bank of St. Louis  1914  BANKING AND COMMERCIAL LAWS-NEVADA  affidavit of party, showing amount due, nature of the contract, description of property, names of the parties, and if the claim arise out of a written contract, or if a note or other written evidence has l>een taken in payment of the account, copies must be attached. An original contractor must file such statement within four months from the time of furnishing such material or performing the labor; a subcontractor within sixty days. Lien dates back to commencement of work or labor and is valid for two years from date of filing. All mechanics' liens on the same premises are of equal priority and prorate in the proceeds of sale of propert,y. if sold under foreclosure thereof. Limitations. Actions brought to recover real property or foreclose mortgages thereon must be commenced within ten years after ca.use of action accrues. Actions for forcible entry and detention, libel, slander, assault and battery, malicious prosecution, false imprisonment, and those to enforce penalties or forfeitures, must be commenced within one year. Actions for trespass to real property, taking, detaining or injuring personal property, upon contracts not in writing upon a liability created by statute other than a forfeiture or penalty, for injuries to rights not arising out of contract, for relief on the ground of fraud, and all other actions not specially limited by statute, must be commenced within four years. Actions upon a specialty, agreement, contract in writing, promissory notes, etc., and foreign Judgments, must be commenced within five years. Actions upon official bonds of executors, administrators, guardians, sheriffs, ~ i!~e~~:~~rsifn/~f~sn ~~t~~iai~~~: ~~eb~fc~~fo~0 CJie:~~t commence to run until such disability removed. Actions for damages for causing death must be brought within two years. Limited Partnership. (See Partnerships.) Articles thereof must be in writing, acknowledged by the parties and recorded in the office of the county clerk of every county where partnership shall have a. place of business. The special partner is not liable beyond the amount contributed to the partnership funds, but has nothing to do with the management or conduct of the business: otherwise is liable as general partner. Special part.ner's name shall not appear in the  November 1st of year of levy. Tax deed may issue after two years from date of sale certificate. Inheritance tax runs from 1 per cent upward. For all real estate taxes delinquent one year or more, the county may sell the property by action in court. Torrens System. Provision is made for registration of land title, under Torrens ystem, upon application of owner. Trust Companies are authorized to act as executors. administrators, receiver, agents, etc. Trust Deeds are seldom used and are treated as mortgages. Wills. (See Decedents.) Every person of full age and sound mind may dispose of his property by will, which must be signed by the testator, or under his express direction, by some one in his presence and subscribed in his presence and in the presence of each other. at  ~-~ 1;JfJ~ii~K !;gr~~e°J b; ~g~~:~gn;f~1t~~55~\ne ~ng~fs!~l~n~: 0 :a~~~ ::~:~%-t~~t s~~~ w~8hi~!.3Jto/!i~dstm1k3:~ii~c\~e 0  w~~u  shall be effectual to pass title to any property unless probated. Foreign wills duly proved and allowed m any state or foreign country may be probated in this State in any county wherein the testator shall have real or personal property, on which the will shall operate. Witnesses. (See Evidence.) Workingmen's Compensation. (See Employers Liability.)  firm.  Married Women. (See Decedent , Evidence, Exemptions, Marriage.) May contract, bargain, sell, and convey their separate property in the same manner as may a married man, and retain ownership and control of their own property notwithstanding the marriage. May sue and be sued, carry on trade or busine s as if unmarried, and earnings of any married woman are her sole and separate property. Mortgages. (See Actions, Acknowledgments, Courts, Dower, Limitations, Chattel Mortgages.) 1ortgagor, regardless of stipulation contained in mortgage and in the absence of special agreement, which must be in a. separate writing, retain legal title and right of poss~on of propert.y. In case of assignment of mortgage it ls safer to record the assignment. If note secured by mortgage is negotiable assignment need not be recorded. Release may be by separate instrument or upon the mortgage records in register of deeds office, and if mortgagee, after mortgage fully paid, neglects or refuses for seven days to discharge such mortgage, he ls liable to a penalty of $100 and all actual damages uffered by the other party. Mortgages can only be foreclosed by suit, and after foreclosure suit commenced no action can be maintained at law upon the debt, unle authorized by the court and ff action be first commenced at law, cannot foreclose the mortgage until judgment obtained and execution returned thereon unsatisfied. After decree of foreclo ure of, mortgage obtained, defendant may stay further proceedings for -,nine months by filing a request for stay in the office of the clerk of the court within twenty days after such decree entered. Such stay is equivalent to redemption ooriod allowed fn other states, and owner may redeem at any time before confirmation of sale. Deeds are held to be mart.gages when intended only as security, and must be foreclosed same as mortgages. Mortgage must state actual consideration where it exceeds SlOO. Negotiable Instruments. (See Notes.) Notary Public. General commission may be issued by governor, authorizing notary to act in any county of state in which he flies cert.ifled copy of his commission and bond with county clerk. Notes and Bllls. All notes, bonds, or bills of exchange, except bank checks and instruments payable on demand, are payable at times fixed therein, without grace: are not negotiable unle. s drawn payable to a person, bearer, order, or as igns. If date of maturity fall on Saturday or Sunday, or a holiday, are payable on tbe next business day. Party purchasing negotiable paper before maturity, without notice. take same free from equities between original parties. Uniform negotiable instrument law is in force. Partnership. (See Limited Partnership.. ) Must adopt and sii:m articleH of partnership agreement showing firm name. nature and place of busine , name and residence of each member. and file same in the office of the county clerk of the county where business i located. Neglect or refusal to comply with this requirement entails penalty, but do88 not affect legality of business transacted. Partnership may sue and be sued in the firm name, and it is not necessary to set forth tn the pleading, or prove at the trial, the name of the per ons composing thti drm, but in such event plaintiff must give security for costs. Pleadings. (See Actions.) Power of Attorney to convey real estate must be executed and acknowledged same as deeds and may be recorded. Practice. Regulated by code which is patterned after Ohio.  or~:iaJ~isd~~~Dcgr:ti• pi;?;i:r:r:n~lte~.ounty court has exclusive Promissory Notes. (See Note .) Proof of Claims. (See Decedents, AccountiS.) Same rules of evidence govern as in civil actions. Protest. (See Notes.) Replevin. Party may recover po ·e ·. ion of personal property within four years after cause of action accrued by filing petition and affidavit of himself, agent or attorney, giving a description of the property. stating the facts connected with the ownership, and that he is entitled to the immediate posi esslon. etc., of the property. It is then seized hy the officer and duly appraised, and within twenty-four hours thereafter plaintiff must give bond in double the apprai ed value, conditioned that he wlll duly prosecute tbe action ancl pay all costs and damage. tha.t may be awarded a$(a.inst him, and return the property or it.s reasonable value to the defendant in ca '8 judgment for a return be rendered. Revenue. (See Taxes.) Sales. ( ee Conditional ales.) Bulk sale of a stock of goods by merchant void without notice to creditors. Security for Co ts. Non-resident plaintiff must give ecurity for costs or furni h cash bond. Statute of Limitation . (, ee Limitations.) Stay. ( ee Exe~utions, Judgments, ~lortgage •. ) Suits. (See Actions.) Summons. (See Actions, Attachments, Divorce, Service.) Taxes. Taxes on real property are a llen thereon from October 1st of year of levy. Taxes on personal property are a lien thereon from  SYNOPSIS OF  THE LAWS OF NEV ADA RELATI  •a TO  BANKING AND COMMERCIAL USAGES Prepared and Revi ed by A TRES & GARDINER, Attorneys and Counselors at Law, Reno. ( ee Card in Attorneys' List.) Acknowledgments. Every mortgage, deed, or other conveyance, conveying or affecting real estate. shall be acknowledged or proved and certified as follows: If within this tate it may be a judge or clerk of a court having a seal, notary public, county recorder, or justice of the peace. If without this tate, and within the nited States, by a judge or clerk of a tate, United tate ·. or territory court having a eal. a commi.·s!oner of de ds for this ,_ tate. or ·ome notary public or justice of the peace in his county. A justice's certificate which is attached to a <iced to be recorded out of his county must have a certificate or a clerk or a court of record of hi· county' as to his signature and official character. If outside of the United .' tat s the acknowledgment can be had before a judge or C'lerk of a court having a s!:lal. or a notary pul l~c or a minister. commi:sioner. or corm el of tbe Umted tates, the certificate of the officer taking the acknmvledgment shall be annexed to or endorsed on the in trument and shall be under band and seal except in ca.·es of ju. tice: of the peace which shall be under the hand of . uch ju ·tice of the peare and certified as above stated. The party executing and acknowledging the instrument must be known or proved by oath of witne · to be the proper party, and the certificate must st.ate ·uch fact. onveyance by a married woman is acknowledirnd in the ·ame way and form as that. of a man and hru the ·ame e!l'ect as if she were unmarried. The form of acknowledgment by an individual hall be substantially as follow. : tate of .. Tevada, County of . . . . . . . . . . . . On this ...... day of ............. A. D. . ................. personally appeared before me. a. notary puolic (or judge or other officer as the cru e may be) in and for the County of . . . . . . . . . . . . , t.ate of .............. • .......... known (or proved)_ to _me to be the person de. crihed in and who executed the foreii;omg mstrument, who acknowll'd!!;ed to me that he (or . be) e.·ecuted the same freely and voluntarily and for the use. and purpo e therein mentioned. · In witne. ,' whereof I have hereunto set my hand a.nd affixed my oillcial seal the day and year in thi. certificate flm above written. . ............... ~ ·otary Public ln and for the ounty of ....... . State of .............. (or other otncial name or the oillcer who takes the acknowledgment). Form of acknowledgment of a corporation. tate of evada. ounty or ............ On thi ~ •••••••••• day of .. : ....... A. D ....... personally appear d before me a. notary public (or other oftlcer or Judge as the case may be) in and for the County of . . . . . . . . . . . . tate of. . . . . . . . . . (name of party ho executed a~d ackn~wledge~ instrument) known (or proved) to me to be the president (v1ce-pres1dent or ecretary) of th • corJ)oration that executed the foregoing in. trument and upon oath did depose that he is the otncer of said corporation ru above designated that he is acquainted with the seal of. aid corporation and that the . cal affixed to said instrument is the corporate eal of said corporation; that the igna-  BANKING AND COMMERCIAL LAWS-NEVADA tures to said instrument were made by officers of said corporation as designated after said signatures; and that the said corporation executed the said instrument freely and voluntarily and for the uses and purposes therein mentioned. In witness whereof I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. . . . . . . . . . . . . . . , Notary Public in and for the County of ......... . State of .......... , (or other official name of the officer who takes the acknowledgment). Form by attorney-in-fact: State of Nevada.,__ County of . . . . . . . . . . . . On this ........ day of .......... A . .u. . ....... personally appeared before me a Notary Public (or judge or other officer as the case may be) in and for the County of . ........... State of Nevada (name of person who executes and acknowledges instrument) known (or proved) to me to be the person whose name is subscribed to the within instrument as the attorney-in-fact of .......... and acknowledged to me that he subscribed the name of i-aid .......... thereto as principal, and his own name as attorney-in-fact. freely and voluntarily and for the uses and purposes therein mentioned. In witness whereof I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. .............. Notary Public in and for the County of ........... . State of ............ (or other official name of the officer who takes the acknowledgment). By the laws of the State of evada, any acknowledgment heretofore or hereafter taken or certificate thereof 111.ade without this tate either in accordance with the laws of this St.ate or in accordance with the laws of the tate, Territory, or Country where the acknowledgment is taken, shall be sufficient in this State. Neverthele s a Notary should affix his seal even in those states which do not require it. The certificate of acknowledgment of conveyance: A certificate of acknowledgment of any conveyance or other instrument in any way affecting the title to real estate or personal property,  ~f~~~ t~ 0 ih~f ~M;irtit~kf~:rti~ a:a~ivi!~~d ~d~~e t~:~if1  o1v:Jct  office, shall entitle such conveyance or instrument with the certificate or certificates of acknowledgment to be recorded in the office of the recorder of any county in this , tate provided that any , tate of United States contract or patent for land may be recorded without any such acknowledgment or proof. Actions. (See Suits, Limitations.) Affidavits. Affidavits taken out of this State but within the United tates to be used before any court or officer in this tate must be taken before a notary public. a commi . loner appointed by the governor of this State, or a judge of a court having a seal attested by the clerk. If in a foreign country such affidavits shall be taken before an ambassador, minister, consul. or vice-consul of the United tates, or judge of a court in such foreign count.ry having a seal. The genUineness of the signature of the judge, the existence of t,he court and the fact that si1ch judge is a member thereof shall be certified by the clerk of the court, under the seal thereof. Aliens. Persons and corporations, except subjects of the Chinese Empire, have the ame ri~hts a resident cit.izens and domestic corporations, except that foreign corporations must comply with corporation laws of this State. Appeals. Actions tried in justice court may be appealed to distrist courts, where trial is had de novo and can proceed no farther. Actions in which the district courts have original jurisdiction may be appealed to the supreme court. Arbitration. ProvLsion is made by law for the settlement _or disputes by arbitration the award of the arbitrators to be filed with the clerk of the district· court and docketed the same as a judgment in civil action. Arrest. A fraudulent or absconding debtor, or one who conceals bis property, or removes or dispo es of it with intent to defra1_1d his creditors, may be arre. ted on affidavit of the fact made. surety m n9t less than $500 being given by the plaintiff. ( ee Attachment.) As l~nments and In olvency. Except as aff~cted _by the national bankruptcy act of 1898, the statute respectwg a~ 1gnment is in force: Insolvent clehtors may be discharged from ~heir debts by complying with provl!·ion of insolvent laws. An 3' t!:'nme!}t of insolvent debtor not in compliance with insolvent laws. 1 · void as to creditors. ' Attachment. \Vrit of attachment may be i ·ued with s~mons, or at any time afterward on affidavit and bond. ln an action upon a judgment or upon a contract for the di:ect paymen_t, of _money. made. or by the terms thereof payable, in this tate. which 1. not 1?ecured by mortgai;e. Lien, or pledge upon real or per onal pr(?J)~rty. s1~uated or being in the State; if so secured, when :ucb security D!),S "1t~out act of plaintiff or person to whom iz;iven become valueless or m _ulfic1ent in value to secure sum due in which c-ase attachment ml!-Y issue for unsec-ured portion or excess of debt, over value of _·ec~nty._ In an action upon a contract against a defendant not rcsidmg ID this S~ate. In an action by a resident of the 'tate for the recm·ery of the , alue of property, where uch property ha,;; been conver ed by a defendant Without the consent of t,he owner. Where the defendapt ha~ abS<'Onded, or is about to abs<'oml. wit,h intent, to rl~fra.ud h1 creditors. Where the clefenJ.aut conceals himrelf o tllat erv1ce of .-ummon.· ca_n not be macle upon rum. Where a defendan~ i~ alJO~t to remove bis property, or any part tbereof, beyond the Jur1sd1et1on of t~e court With the Intent to defraud his creditors. Where a defendan~ 1s _about to convert hi. property. or any part ther _of, into 1poncy , 11,h mtent to place it beyond the reach of his creditors. ''.l_1er~ a defendan~ ha.<i assigned removed, disposed of. or ls about to dispose _or h1. J_>rop erty or a,ny part thereof with the intent to defraud h1. creditor . Wliere a clefendant has fraudulently or criminally contracted a d,ebt or incurred the obli..,ation for which suit has been commenl'ed. Garnishee process may 0 ne bad in aid of attachment. 'f'he clerk _of,,. the court, shall is. ue the writ of attachment upon r~<'einng and flhn,., an affidavit by or on behalf of the plaintiff, ·bowmg th~ nature of the plaintiff's claim. that same is just, the amount wht~h the amant belleves the plaintiff Is entitled to recover. and the ex1 ;tence <:>f any one of the grounds for an attachment a.hove emtmerated, with an Undertaking not less ban $.';00, and an amount equa,l to one-fousth of demand, but not exceeding $/l,000. In Ju ·t1ce · o!:1-rt ( ee Courts) bond must be in amount sued for but not under ,,0. Bank.. , tate-are regulated and~controlled_ h~ a comprehen~i~•e ~,eneral banking law. Amended (191;,) to pernut tate banks to JOlD Ii ederal Reserve Bank System. ConveYnnc·es The husband has the entire_ manai;ement and control of tne community property, with the hk~ ab ·olute po~ver of disposition thereof, except as hereinafter proncl d. as of n1 ....o:n separate est.ate; provided, that no deed of con~eyan:-e, or m?rt,,,a~e, of a. homestead ~ now defined by law, reiz:ardle s ~f whether a deC'lara.tion thereof has been flled or nor. sha_ll he valid for any purpose whatever unless both the husband and wife ex c-ut and acknowledge the same' as now provided by law for the conveyance of real estate. Corporations. The Jaws of.this State a:e sub tantially the as those of ·ew Jersey. Foreign corporations ~o tran ·act bus1!30! and institute action . In this State must flle certified copy of articles of incorporation with the secretary of stat~ and county clerk; als<? designation of resident agent. There 1s no hcense tax. tockholders Federal Reserve Bank of St. Louis  1915  and directors' meetings of Nevada Corporations may be held in or out of State. There is no "Blue Sky" law. The laws of this State are generally regarded as most desirable in every way for the formation of corporations to d busine s in other states. There is no stockholders' liability and ck may be eit,ber assessable or non-asses.<;able as provided in articles . Curtesy is not recognized in this State.  an~~~~~on ~~~s1~r!%1ctio~ir~rl'ir c~~t:t ~;ean°d"i~neaciuil;~t:~~rrn law, when the title or possession of land or mining claims may be involved, or legality of any tax, etc., also in actions to foreclose mechanics' lien; and in all cases in which the demand, exclusive or interest, or the value of the property in controversy exceeds S300, and in probate in all cases relating to estate of decea.c;ed persons, and per<;ons and estate of minors, in. ane persons. Justice's jurisdiction, $300, ex:clusive of interest, and attorney's fees. Deeds. A deed of quit-claim passes all the title that the grantor has at the date of the conveyance. A deed of grant, bargain and sale carries with it the statutory covenant that at the time that the grantor executed the deed, he bad not conveyed it to any other per. on and had placed no encumbrance upon it. This form of deed conveys any title that the grantor shall afterwards acquire. A warranty deed contains a covenant: "The grantor herein will forever warrant and defend the title to the premises herein described against any and all persons whomsoever claiming the same." The Jaw governing and form of acknowledgments is titled under "Acknowledgments." Deposition . Depositions may be taken within this State before any judge, clerk, justice of the peace or a notary public, upon notice to the opposite party of the time and place of taking. Depositions may be taken out of the State upon commission under the seal of the court upon proper application, or by stipulation of the attorneys. Divorce. Divorce from the bonds of matrimony may be obtained by complaint under oath to the District Court, of the county in which the cause therefor shall have accrued, or in which the defendant shall reside or be found, or, in which the plaintiff shall reside, if the latter be either the county in which the parties last cohabited, or in which the plaintiff c;hall have resided six months before suit be brought for the following earn es: First: Impotency at the time of marriage continuing to the time of the divorce. Second: Adultery, since the marriage, remaining unforgiven. Third: ·wilful de ertion, at any time, of either party by the other for the period of one year. Fourth: Conviction of felony or infamous crime. Fifth: Ha.bit.ual gross drunkenne , contracted since marriage of either party. which shall incapacitate such party from contribuUng his or her share to the support of the family. Sixth: Extreme cruelty in either party. Seventh: eglect of the husband, for the period of one year, to provide the common necessaries of life, when such neglect i not the result of poverty on the part of the husband which he could not avoid by ordinary industry. Provided, that unless the cau. e of action shall have accrued within the county while plaintifI and d Cendant were actually domiciled therein, no ::ourt ·hall have jurisdiction to grant a divorce unless either the plaintiff or th defendant shall have been a resident of the state for a period of not less than six mouths next preceding the commencement of tb.e a tion. (.Tew 1\121). Residence is defined as follows: "The legal residence of a person with reference to his or her right of suffrage, eligibility to office. right of naturalization, right to maintain or defend any suit at law or in equity, or any other right dependent on residence, is that plare where he or she shall have been actually, physically and corporally pre. ent within the state or county, as the case may be, during a.II of the period for which residence is claimed by him or her; provided, however, should any person ahsent himself from the jurisdiction of his residenC'e with the intention in 11:ood faith to return without delay and continue his residence, the time of such absence shall not be considered in determining the fact of such residence.'' Dower is not recognized in this State. Execution . Stay of Execution; Judgments. The laws of Nevada on these points are similar to tho,;;e of California (see ante), except that when redemption is made of real estate, one per cent per month must be in addition to purchase money. When property ls redeemed from a previous redemption, which may be done within sixty days, his purchase pt·ice plus two per cent thereon is required. Exemption. Home tead, $5,000; the earnings of the dehtor, lf earned thirty days preceeding, if it is made to appear nece·sary for the support of the de tor, except where debt is for necessaries. or-his family when only one-half exempt; personal and mining property, tools, implements, etc., exempt same as in California (which see). Garnishment. (See Attachment.) Holidays. Sunday, New Year's Day, L