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Arrangement of Solicitors' Business and Plan of Accounts. have been paid out of the general cash and ledger. Au account current, therefore, entered in the cash-book, and posted in the proper to be rendered to the client should ledger. To these disbursemenis should be be made up in the Account Current Book added the amount of the stationer's account, and a copy rendered to the client, so that and of the disbursements entered in the gene- the statements or account current, as renral disbursement book for the year, and thus will be shown the total of the disbursements dered, may always be known, but this acin respect of the business recorded in the two count current should include all cash repreceding accounts to have been done. ceived, and all cash paid, to prevent the

In the same book of “ Profits” another ac-executors of a client, or the client alleging count should be opened for each year, entitled moneys to have been received which were

Management Charges' Account,” in which should be charged all sums as they are paid pleasantness and trouble in bringing forward

not credited, and which might occasion unin respect of management out of the general and showing vouchers for the payments in cash and posted into the ledger.

When these accounts have all been com- discharge of the moneys so received. pleted, then close “ Business Disbursements' 13. A Private Ledger to be kept in Account,” by transferring the amount to the which shall be entered the Dr. and Cr. debit of “ Business done Account,” the ba- accounts to each partner, the one containlance of which will show the net amount ing his capital account, and the other his of business done, minus the cash out of pocket drawing account against profits, the money in respect of such business. ,,Then also close drawn is entered in the cash-book, and the “Business done Account," by a transfer to another account to be opened in the same

posted from thence to the drawing account. book, and to have reference to the same year, The drawing account is credited with the and to be entitled " Profits and Loss Account. proportion of anticipated profits of each Having done that, close also the “ Manage- partner, until a final and actual amount of ment Charges' Account” by a transfer to profits be ascertained, and when the profits “ Profits' Account,”—also close any interest are ascertained then the respective accounts account there

may
be by a like

transfer to the of the partners are debited or credited with debit of “Profits' Account." Then the “ Profits' Account” will show clearly in a few items any proportion of the profits beyond or not the net profit upon a year's business subject equal to the anticipated profits. to the realisation of bills not paid. The ba

We lastly add the following directions lance of the “ Profits' Account” should then for making out Bills :be struck, and brought down with an explana- 1. Examine whether any former bill has been tion, that it is the profil subject to any defi- made out in the same business, or to the same ciency that may afterwards arise, either from party, and if so thoroughly understand the revisions of bills charged in the “ Unfinished Bills' Account,” or from bad debts, or from 2. Ascertain by search if any draft bill has relinquishments, or taxations, or otherwise. already been prepared, and if so add to, amend For the purpose of showing what deficiencies or alter such draft, or begin de novo. are to be charged against this balance of “Pro. 3. Inspect all the entries in the day-books fits' Account," there should be opened in the from first to last. same book an account to be entitled “ Bad

4. Collect all the papers together, and unDebts and Relinquishments,” in which should derstand the leading points of business. be debited all such outstanding debts as may 5. Arrange the papers according to their from time to time be ascertained to be bad, or dates, and indorse their contents, if not already as may have been either wholly or in part re- done. linquished; this account to be ultimately

6. Look up and examine all letters written closed by a transfer of the account to “ Profits' to and by the firm. Account." In the Profits' Book or Balance Book should dates, and indorse the names of the parties

7. Arrange all the letters according to their be entered an account headed Balances' Ac- from whom they came, the dates, and heads of count,” by which the result of the ledger en- their contents. tries will be shown, thus the balance due to

8. Then begin the bill making charges fuller each partner, or to any other person, together (if necessary) than the entries, and draw the with the amount of bills remaining due to the bill on draft paper bookwise, with a small firm, will form the credit side of the account, margin for binding. and the debts due from other persons to the 9. If the bill relate to Chancery business firm, together with the profits of the partner- look for a precedent in the Chancery costs, ship and the balance of cash at the bankers or and read the charges therein, from beginning in hand, will form the debit side of the account. to end. .-12. An Account Current Book should 10. If in any of the Common Law Courts,

the like. be kept. When an account is rendered to a client it may not be necessary to send in similar business, and read them through

11. If in Bankruptcy look to bills made out him all the entries in the account in the

out.

same.

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New Statutes effecting Alterations in the Law.

317 12. If in going through a bill there should Acts, repealed, and the duties named in be any blanks for folios, or any queries, put said schedule granted in lieu thereof; s. them on a sheet of paper and annex it to the 1. draft to be filled up, and answered before the bill is considered as drawn. If the bill relate

The new duties by this Act granted to to different suits, &c., keep each distinct.

be denominated stamp duties, and to be 13. In drawing a bíll see that the history or under the care of Commissioners of Inland chain is preserved throughout, so that on Revenue ; powers and provisions of former reading it, the nature of the business, and what | Acts to be in force ; s. 2. has been done may be clearly seen and under- Duties on bills drawn out of the United stood, but be cautious so that the charges or Kingdom to be denoted by adhesive stamps; statements do not cast blame or excite any improper remarks on any one. 14. In charging for letters, be particular in

Bills purporting to be drawn abroad stating their contents shortly, and it from

their deemed for the purposes of this Act to be contents it should appear that attendances must

so drawn ; s. 4. have been had or business done which may not

The holder of a bill drawn out of the have been posted, supply them, noting in the United Kingdom to affix an adhesive stamp draft that the attendances or business are not thereon before negotiating it; penalty for in the day-books.

negotiating such bill without a stamp attixed 15. In charging an attendance on any business, look to the consequences of such attend

or neglecting to cancel such stamp; s. 5.

Penalty for drawing and issuing, or transance or business, or whatever follows from the one or arises from the other, and take care ferring or negotiating bills purporting to be to include the same, although the entries may drawn in a set, and not drawing the whole be silent or incomplete, but noting as in the number of the set ; penalty on taking or last article.

receiving such bills ; s. 6. 16. Let the papers be put away and indexed Unstamped drafts on bankers not to be (in the register of papers) when the bill is made circulated beyond 15 miles of the place out, and let all papers taken out of a bundle where made payable ; penalty on persons already indexed, be returned to the bundle when done with.

offending ; s. 7.

Drafts lawfully issued unstamped may by

affixing thereto an adhesive stamp be neNEW STATUTES EFFECTING ALTE- gotiated beyond the distance of 15 miles ; RATIONS IN THE LAW.

Provisions of 17 Geo. 3, c. 30, as extends The Acts of the present Session printed in to drafts on bankers repealed; s. 9. the present Volume, with an Analysis to each, Adhesive stamps denoting the duty of will be found at the following pages :

1d. may be used for receipts or drafts withIncome Tax, cc. 17, 24, pp. 46, 134, ante.

out regard to their special appropriation ; s.

10. Commons' Inclosure, c. 9, p. 64.

What shall be deemed bank notes within County Court Extension, c. 16, 121.

the meanings of 7 & 8 Vict. c. 32, and 8 & Registration of Bills of Sale, c. 36, p. 216.

9 Vict. cc. 38 and 37 ; s. ll. Warwick Assizes, c. 35, p. 218.

All bills, drafts, and notes deemed bank Attendance of Witnesses, c. 34, p. 235. notes under the above recited Acts liable

Evidence in Ecclesiastical Courts, c. 47, p. to stamp duties, &c. ; s. 12. 254.

Exemption from receipt stamp duty of Commons' Inclosure (No. 2), c. 48, p. 254. letters acknowledging receipt of bills, &c., Cruelty to Animals, c. 60, p. 275.

repealed; s. 13. Ecclesiastical Jurisdiction, c. 65, p. 276.

Receipts for money paid to the Crown Highway Rates, c, 52, p. 276.

exempted from stamp duty ; s. 14.

13 & 14 Vict. c. 97; 16 & 17 Vict. c. Turnpike Trusts' Arrangements, c. 51, p. 276.

63 ; Relief to persons who have made duAdmiralty Court, c. 78, p. 295.

plicates of conveyances described in 16 & 17 Borough Rates, c. 71, p. 298.

Vict. c. 63 ; s. 15. Acknowledgment of Deeds by Married Wo

Deeds made for several valuable conmen, c.75, p. 299.

siderations to be chargeable in respect of each ; s. 16.

Commissioners of Inland Revenue, before 17 & 18 Vict. c. 83.

assessing the duty upon any deed, may reStamp duties on instruments mentioned quire proof that the facts upon which the in schedule to this Act, payable under other duty depends are truly stated; s. 17.

S. 8.

STAMP DUTIES.

318

New Statutes effecting Alterations in the Law. The affidarit 'not to be used for any other and directions therein contained, shall be purpose ; s. 18.

deemed and taken to be part of this Act, and 48° Geo. 3, c. 149; indemnity from shall be applied, observed, and put in execution penalties for omitting to state the full pur: herein contained shall extend to repeal or alter

accordingly: provided always, that nothing chase-money in assignments on the sale of

any of the said stamp duties now payable in goodwill ; s. 19.

relation to any bill of exchange, promissory Stamp duty on licences to pawnbrokers note, or other instrument which shall have been in Dublin reduced ; s. 20.

drawn, made, or signed, of which shall bear Contracts to serve as artificers, servants, date before or upon the said 10th day of Oc&c., in the colonies exempted from stamp tober, 1854. duty ; s. 21.

2. The said duties by this Act granted shall

be denominated and deemed to be stamp duties, Public maps and documents not to be

and shall be under the care and management liable to stamp duty by reason of their of the Commissioners of Inland Revenue for being referred to in deeds or writings ; s. the time being ; and all the powers, provisions, 22.

clauses, regulations, directions, allowances, Leases for a period less than a year to and exemptions, fines, forfeitures, pains, and be chargeable with stamp duty on the rent penalties contained in or imposed by any Act reserved ; s. 23.

or Acts or any schedule thereto, relating to Allowance on the purchase of stamps not any duties of the same kind or description exceeding the rate of 18. duty for drafts, respectively, and in force at the time of the bills, and notes ; s. 24.

passing of this Act, shall respectively be in full No charge to be made for paper on sale force and effect, with respect to the duties by of bill or note stamps where the rate of duty this Act granted, and to the vellum, parchment, does not exceed 18. ; s. 25.

and paper instruments, matters, and things Allowance for stamps rendered useless by charged and chargeable therewith, and to the this Act ; s. 26.

persons liable to the payment of the said duties, Instruments admissible in evidence, though in all cases not hereby expressly provided for,

so far as the same are or shall be applicable, not properly stamped ; s. 27.

and shall be observed, applied, allowed, en.

forced, and put in execution for and in the The following are the Title and Sections raising, levying, collecting, and securing of the of the Act :

said duties hereby granted, and otherwise in

relation thereto, so far as the same shall not be An Act to amend the Laws relating to the superseded by and shall be consistent with the Stamp Duties. [9th August, 1854.]

express provisions of this Act, as fully and ef. Whereas it is expedient to repeal the stamp fectually to all intents and purposes as if the duties now payable in respect of the several same had been herein repeated and specially instruments, matters, and things mentioned or enacted, mutatis mutandis, with reference to the described in the schedule to this Act annexed, said duties by this Act granted. and to impose other stamp duties in lieu there- 3. The duties by this Act granted in respect of, and otherwise to amend the laws relating to of bills of exchange drawn out of the United stamp duties; be it therefore enacted as fol. Kingdom shall attach and be payable upon all lows:

such bills as shall be paid, indorsed, transfer. '1. From and after the 10th day of October, red, or otherwise negotiated within the United 1854, the stamp duties now payable in Great Kingdom wheresoever the same may be payBritain and Ireland respectively, under or by able, and the said duties shall be denoted by virtue of any Act or Acts of Parliament for or adhesive stamps, to be provided by the Comin respect of the several instruments, matters, missioners of Inland Revenue for that purpose, and things mentioned or described in the and to be affixed to such bills as hereinafter schedule to this Act annexed, and whereon directed. other duties are by this Act granted, shall re- 4. Every bill of exchange which shall purspectively cease and determine, and shall be port to be drawn at any place out of the United and the same are hereby repealed ; and in lieu Kingdom shall for all the purposes of this Act thereof there shall be granted, charged, and be deemed to be a foreign bill of exchange paid in and throughout the United Kingdom drawn out of the United Kingdom, and shall of Great Britain and Ireland, unto and for the be chargeable with stamp duty accordingly," use of her Majesty, her heirs and successors, notwithstanding that in fact the same may

and in respect of the several instruments, have he drawn within the United Kingdom. matters, and things described or mentioned in 5. The holder of any bill of exchange drawn the said schedule, or upon or in respect of the out of the United Kingdom, and not having a vellum, parchment, or paper upon which any proper adhesive stamp affixed theredd as here of them respectively shall be written, the in directed, shall, before he shall present the several duties or sums of money specified and same for payment, or indorse, transfer, or in set forth in the said schedule, whichi said sche- any manner negotiate such bill, affix thereon'a dule, and the several provisions, regulations, proper adhesive stamp for denotitig the duty

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New Statutes effecting Alterations in the Law.

319 by this Act charged on such bill; and the distance of 15 miles in a direct line from the person who shall indorse, transfer, or negoti- bank or place at which the same is made payate such bill shall, before he shall deliver the able or be received in payment, or as a sesame out of his hands, custody, or power, curity, or be otherwise negotiated or circulated cancel the stamp so affixed by writing thereon at any place beyond the said distance, and if his name or the name of his firm and the date any person shall remit or send any draft or order of the day and year on which he shall so write not duly stamped as aforesaid to any place bethe same, to the end that such stamp may not yond the distance aforesaid, or shall receive be again used for any other purpose; and if the same in payment or as a security, or in any person shall present for payment, or shall any manner negotiate or circulate the same at pay or indorse, transfer or negotiate any such any such last-mentioned place, he shall forfeit bill as aforesaid whereon there shall not be the sum of 501. such adhesive stamp as aforesaid duly affixed, 8. Provided always, that it shall be lawful or if any person who ought as directed by this for any person who shall receive any such Act to cancel such stamp in manner aforesaid draft or order as aforesaid at any place within shall refuse or neglect so to do, such person the said distance of 15 miles from the bank or so offending in any such case shall forfeit the place at which the same is made payable, sum of 50%. ; and no person who shall take or which draft or order shall have been lawfully receive from any other person any such bill as issued unstamped, to affix thereto a proper aforesaid, either in payment or as a security, adhesive stamp, and to cancel such stamp by or by purchase or otherwise, shall be entitled writing thereon his name or the initial letters to recover thereon, or to make the same avail- of his name, and thereupon such draft or order able for any purpose whatever, unless at the may lawfully be received and negotiated at any time when he shall so take or receive such bill place beyond the distance aforesaid, anything there shall be such stamp as aforesaid affixed herein contained notwithstanding. thereon and cancelled in the manner hereby 9. And whereas an Act was passed in the directed.

17 Geo. 3, c. 30, for restraining the negotiation 6. If any person shall within the United of promissory notes and inland bills of exchange Kingdom draw and issue any bill of exchange under a limited sum : be it enacted, that the payable out of the United Kingdom purporting said Act, and any Act or Acts continuing or to be drawn in a set, and shall not draw and perpetuating the same, shall, so far as they reissue on paper duly stamped as required by spectively extend or may be deemed or conlaw the whole number of bills which such bill strued to extend to any draft on a banker for purports the set to consist of, or if any person payment of money held for the use of the shall within the United Kingdom transfer or drawer, be and the same are hereby repealed. negotiate any such bill of exchange as afore. 10, The adhesive stamps provided by the said purporting to be drawn in a set, and shall Commissioners of Inland Revenue for denot at the same time transfer or deliver on noting the duty of id. payable on receipts and paper duly stamped as aforesaid, the whole on drasts or orders for the payment of money number of bills which such bill purports the to the bearer or to order on demand respec. set to consist of, every such person so offend- tively may lawfully be used for the purpose of ing in any of such cases shall forfeit the sum denoting the like amount of duty either on a of 1001., and if any person shall take or re- receipt or on such draft or order as aforesaid, ceive in the United Kingdom any such bill as without regard to the special appropriation aforesaid, either in payment or as a security or thereof for the other of such instruments by by purchase or otherwise, without having trans- having its name on the face thereof, anything ferred or delivered to him duly stamped as in any Act or Acts contained to the contrary aforesaid the whole number of bills which notwithstanding. such bill purports the set to consist of, he 11. And whereas an Act was passed in the shall not be entitled to recover on any such 7 & 8 Vict. c. 32, to regulate the issue of bank bill, or to make the same available for any notes; and an Act was passed in the 8 & 9 purpose whatever.

Vict. C. 38, to regulate the issue of bank potes 7. And whereas, under and by virtue of cer- in Scotland; and another Act was passed in tain Acts relating to stamp duties, certain the last-mentioned years, c. 37, to regulate drafts or orders for the payment of any sum of the issue of bank notes in Ireland; and in money to the bearer on demand, drawn upon order to prevent evasions of the regulations any banker or person acting as a banker resid- and provisions of the said respective Acts it is ing or transacting the business of a banker expedient to define what shall be deemed to be within 15 miles of the place where such drafts bank notes within the meaning thereof respec, or orders are issued, are exempted from all tively; be it enacted, that all bills, drafts, or stamp duty, and it is expedient to prevent the notes (other than notes of the Bank of Engnegotiating or circulating of such drafts or land) which shall be issued by any banker

or orders unstamped at any place beyond the the agent of any banker for the payment of, distance of 15 miles from the place where the money to the bearer on demand, and all bills, same are made payable; be it enacted, that no drafts, or notes so issued, which shall entitle such draft or order as aforesaid shall, unless or be intended to entitle the bearer or holder the same be duly stamped as a draft or order, there without endorsement, or without any be remitted or sent to any place beyond the further or other endorsement than may be

320

New Statutes effecting Alterations in the Law. thereon at the time of the issuing thereof, to are hereby required, upon production to them the payment of any sum of money on demand, of any such conveyance, charter, disposition, whether the same shall be so expressed or not, or contract duly stamped, and of the duplicate in whatever form and by whomsoever such or counterpart' thereof stamped for denoting bills, drafts, or notes shall be drawn or made, the amount of duty chargeable upon a duplishall be deemed to be bank notes of the cate or counterpart under the said Act of the banker by whom or by whose agent the same 13 & 14 Vict., to stamp the said duplicate or shall be issued within the meaning of the said counterpart with the particular stamp directed three several Acts last mentioned, and within by the said last-mentioned Act to be impressall the clauses, provisions, and regulations ed upon a duplicate or counterpart for denot, thereof respectively.

ing or testifying the payment of the full and 12. All bills, drafts, and notes which by or proper stamp duty on the original deed or under this Act, or the said three several Acts instrument ; and if the said duplicate or counlast mentioned, or any of them respectively, terpart shall be stamped with any ad valorem are declared or deemed to be bank notes, shall stamp duty of greater amount than the amount be subject and liable to the stamp duties, and of stamp duty so chargeable as aforesaid on a composition for stamp duties, imposed by or duplicate or counterpart, the said Commispayable under any Act or Acts in force upon sioners shall allow and repay such excess of or in respect of promissory notes for the pay- stamp duty, and rectify the stamps accordingly, ment of money to the bearer on demand; and and thereupon such duplicate or counterpart all clauses, provisions, regulations, penalties, shall be deemed to be duly stamped. and forfeitures contained in any Act or Acts 16. And where any conveyance, charter, relating to the issuing of such promissory disposition, or contract described in the schenotes, or for securing the said stamp duties dule to this Act shall be made partly in conand composition respectively, or for prevent- sideration of such annual sum as in the said ing or punishing frauds or evasions in relation schedule is mentioned, and partly in consider thereto, shall respectively be deemed to apply ation of a sum of money or stock as mentioned to all such bills, drafts, and notes as aforesaid, under the head or title of “ Conveyance" in and to the stamp duties and composition pay- the schedule to the said Act of the 13 & 14 able upon or in respect thereof, anything in Vict., such conveyance, charter, disposition, this Act, or any other Act or Acts, to the con- or contract shall be chargeable with the ad ratrary notwithstanding.

lorem stamp duties granted by the said Acts 13. And whereas under and by virtue of respectively in respect of each of the said concertain Acts relating to stamp duties, letters siderations; and in any case where any deed by the General Post acknowledging the safe or instrument which shall be chargeable with arrival of any bills of exchange, promissory any ad valorem stamp duty in respect of any notes, or other securities for money are ex- sum of money yearly or in gross or any stock empted from the stamp duty granted and im- or security therein mentioned shall be made posed on receipts or discharges given for or also for any further or other valuable consider. upon the payment of money : be it enacted, ation, such deed or instrument shall be chargethat the said exemption shalí be and the same able (except where express provision to the is hereby repealed.

contrary is or shall be made in any Act of Par. 14. And whereas under and by virtue of the liament) with such further stamp duty as any laws in force the stamp duty on receipts given separaté deed or instrument made for such for or upon the payment of money to or for the last-mentioned consideration alone would be use of her Majesty, her heirs or successors, is chargeable with, except progressive duty. made payable by the person requiring any such 17. And to prevent fraudanderasion of stamp receipt : be it enacted, that all such receipts as duty in any case where application is made to last mentioned shall be and the same are here- the Commissioners of Inland Revenue to asby exempted from stamp duty.

sess and charge the stamp duty to which any 15. And whereas by an Act passed in the deed or instrument is liable, or to impress on 13 & 14 Vict. c. 97, certain reduced rates of any deed or instrument the particular stamp stamp duty were granted and made payable provided to denote the payment of the full and under the head or title of “ Duplicate or Coun- proper duty on the same or on any other deed terpart” in the schedule thereto annexed : and or instrument, or that any deed or instrument whereas by an Act passed in the 16 & 17 Vict. is not liable to any stamp duty, it shall be lawc. 63, certain stamp duties were granted and ful for the said Commissioners to require such made payable upon conveyances, charters, dis- evidence by affidavit as they may deem necespositions, and contracts, described under the sary in order to show to their satisfaction the head or title of “Conveyance” in the schedule quantity of words contained in any such to the said last-mentioned Act, but no pro deed or instrument, and whether or not the vision is made for charging the duplicates or consideration, or any definite or certain sum or counterparts of the said conveyances, charters, sums of money, stock, or other valuable matter dispositions, and contracts with the said re- or thing capable of being ascertained and set duced duties, and it is expedient to give such forth, or any other facts, upon the fall or prorelief in that respect as hereinafter mentionen : per statement of any of which matters and be it enacted, that it shall be lawful for the things in such deed or instrument the stamp Commissioners of Inland Revenue, and they duty which shall be or which ought to be pay.

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