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735. ASSIGNMENT of POLICY as SECURITY. KNOW ALL MEN BY THESE PRESENTS: That I, A. B., of the town of in the county of , and Province of Canada, (state occupation,) in the annexed policy named, for and in consideration of the sum of , to me in hand paid by C. D., of the town of

,

,

, in the county of and province aforesaid, (state occupation,) [the receipt whereof is hereby acknowledged,] do by these presents sell, assign, transfer, and set over, unto the said C. D., the annexed policy of insurance, and all sum and sums of money, interest, benefit, and advantage, whatsoever, now due or hereafter to arise, or to be had or made, by virtue thereof. TO HOLD the same UNTO the said C. D., and his assigns, forever.

UPON THE CONDITION, however, that, if a certain promissory note [or other undertaking] for the sum of dollars, bearing date the day of made by the said A. B. to the said C. D., is well and truly paid, according to the terms thereof, then this assignment is to be void.

,

IN WITNESS, &C., (as in n. 715; adding the approval in n. 734, if necessary.)

302

A. B. [SEAL.]

CHAPTER VI.

OF SECURITIES.

BILLS OF SALE. -CHATTEL MORTGAGES. CONFESSIONS OF

JUDGMENT.

THE recent changes in the law with respect to this class of securities are so important that it is deemed advisable to insert the statutory provisions now in force here, before giving the precedents.

REVISED STATUTES, 1859, CAP. XXV., p. 307.

736. AN ACT for the RELIEF of INSOLVENT DEBTORS, which is to be called the INDIGENT DEBTOR'S ACT.

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erence over

(30.) In case any person, being at the time in in- Confessions or solvent circumstances, or unable to pay his debts in warrants to confess judgfull, or knowing himself to be on the eve of insolvency, ment given by voluntary or by collusion with a creditor or creditors, insolvents, to gives a confession of judgment, cognovit actionem or defeat or delay warrant of attorney to confess judgment, with intent in creditor, or to giving such confession, comovit actionem or warrant give one prefof attorney to confess judgment, to defeat or delay his the other, to creditors wholly or in part, or with intent thereby to be void. give one or more of the creditors of such person a preference over his other creditors, or over any one or more of such creditors, every such confession, cognovit actionem or warrant of attorney to confess judgment, shall be deemed and taken to be null and void as against the creditors of the party giving the same, and shall be invalid and ineffectual to support any judgment or writ of execution. 22 V., c. 96, s. 18.

(31.) In case any person, being at the time in insolv- Assignments, ent circumstances, or unable to pay his debts in full, or transfers, &c., knowing himself to be on the eve of insolvency, makes made by insolvents, to deor causes to be made any gift, conveyance, assignment, feat creditors, or transfer of any of his goods, chattels, or effects, or or to give prefdelivers or makes over, or causes to be delivered or erence, shall made over, any bills, bonds, notes, or other securities be void.

&c., to defraud

or property, with intent to defeat or delay the creditors of such person, or with intent of giving one or more of the creditors of such person a preference over his other creditors, or over any one or more of such creditors, every such gift, conveyance, assignment, transfer, or delivery shall be null and void as against the creditors of such person; but nothing herein contained shall invalidate or make void any deed of assignment made and executed by any debtor for the purpose of paying and satisfying, rateably and proportionably, and without preference or priority, all the creditors of such debtor their just debts; and nothing herein contained shall invalidate or make void any bond fide sale of goods in the ordinary course of trade or calling to innocent purchasers. 22 V., c. 96, s. 19.

Destroying or (32.) Any person who destroys, alters, mutilates, or altering books, falsifies any of his books, papers, writings, or securities, creditors, to be or makes, or is privy to the making, of any false or a misdemean- fraudulent entry in any book of account or other doc

ог.

Punishment

Making assignments, or concealing, or disposing of goods, to de

fraud creditors, to be a

ument, with intent to defraud his creditors, or any one or more of them, shall be deemed guilty of a misdemeanor; and, on being convicted thereof, shall be liable to be imprisoned in any common gaol for any term not exceeding six months, and such offence may be tried before any court of Oyer and Terminer or General Gaol Delivery. 22 V., c. 96, s. 20.

(33.) Any person who makes or causes to be made any gift, conveyance, assignment, sale, transfer, or delivery of any of his lands, hereditaments, goods, or chattels, or who removes, conceals, or disposes of any of his goods, chattels, property, or effects of any description, with intent to defraud his creditors, or any of misdemeanor. them, and any person who receives such property, real or personal, with such intent, shall be deemed guilty Punishment. of a misdemeanor; and, on being convicted thereof, shall be liable to be imprisoned for any term not exceeding twelve months, and to be fined in any sum not exceeding two hundred pounds, and such offence may be tried before any court of Oyer and Terminer or General Gaol Delivery. 22 V., c. 96, s. 21.

Short title.

304

(34.) This act shall be known and cited as "The Indigent Debtor's Act."

REVISED STATUTES, 1859, CAP. XXII., p. 195.

737. AN ACT to REGULATE the PROCEDURE of the SUPERIOR COURTS of COMMON LAW and of the COUNTY COURTS, known as and in all proceedings may be cited as THE COMMON LAW PROCEDURE Аст.

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(240.) Final judgment upon a cognovit actionem or As to judgwarrant of attorney to confess judgment, given or exe- ment on cogcuted before the suing out of any process, may, at the novits. option of the plaintiff, be entered in any office of either of the said Superior Courts, and, in like manner and like circumstances, final judgment may be entered on a cognovit actionem or warrant of attorney to confess judgment, for an amount not exceeding one hundred pounds, in any County Court, unless some particular office or some particular County Court for that purpose be expressly stated in the cognovit or warrant. 19 V., c. 90, s. 6; 19 V., c. 43, s. 10.

this act, to be

(241.) No confession of judgment or cognovit actio- Confessions nem shall be valid or effectual to support any judgment and cognovits, or writ of execution, unless, within one month after the given after same has been given, the same or a sworn copy there- registered. of be filed of record in the proper office of the court in the county in which the person giving such confession of judgment or cognovit actionem resides; and a book shall be kept in every such office, to be called the Cognovit Book, in which shall be entered the names of the plaintiff and defendant in every such confession or cognovit, the amount of the true debt or arrangement secured thereby, the time when judgment may be entered and execution issued thereon, and the day when such confession or cognovit, or copy thereof, is filed in the said office; and such book shall be open to inspection by any person, during office-hours, on the payment of a fee of one shilling. 20 V., c. 57, s. 17.

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in execution.

(261.) The sheriff or other officer, to whom any writ The interest of fieri facias against the lands and tenements of any of mortgagors mortgagor of real estate is directed, may seize or take may be sold in execution, sell, and convey, [in like manner as any other real estate might be seized or taken in execution, sold, and conveyed,] all the legal and equitable interest

Effect of such sale.

Rights of the purchaser.

of such mortgagor in the mortgaged lands and tenements. 12 V., c. 73, s. 1.

(262.) The effect of such seizure or taking in execution, sale, and conveyance of any such mortgaged lands and tenements shall be to vest in the purchaser, his heirs and assigns, all the legal and equitable interest of the mortgagor therein at the time the writ was placed in the hands of the sheriff or other officer to whom the same is directed as well as at the time of such sale, and to vest in such purchaser, his heirs and assigns, the same rights as such mortgagor would have had if such sale had not taken place; and the purchaser, his heirs or assigns, may pay, remove, or satisfy any mortgage, charge, or lien which at the time of such sale existed upon the lands or tenements so sold, in like manner as the mortgagor might have done, and thereupon the purchaser, his heirs and assigns, shall acquire the same estate, right, and title as the mortgagor would have acquired in case the payment, removal, or satisfaction had been effected by the mortgagor; and on payment of the mortgage money to the mortgagee by the purchaser, his heirs or assigns, the mortgagee, his heirs or assigns, shall, if required, give to such purchaser, his heirs or assigns, at his or their charge, a certificate of payment or satisfaction of such mortgage, which certificate may be in the following form, that is to say: 12 V., c. 73, s. 2.

To the registrar of the county of

I, A. B., of

,

est of E. F., of

,

do certify that C. D., of

who hath become the purchaser of the inter-
hath satisfied all money
made by the said E. F. to

due upon a certain mortgage
me, bearing date the

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fore discharged.

day of

,

,

one

and registered

forenoon (as the case may

, in the same year,

(or as the case may be,) and that such mortgage is there

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witnesses.

be acted upon by registrars and others to the same ex

his heirs, executors, administrators, or assigns.

And such certificate shall be of the like effect, and shall

tent as if the same had been given to the mortgagor,

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