A life insurance may be for a stated period, or indefinitely. If for one year only, the premium is usually paid in bulk and in advance. Where the insurance is for a stated period, it is important to prove that the death took place within that time, if the insurance is to be claimed.

Occupations, Health, Etc.

Certain trades and occupations are considered extra hazardous, and are either prohibited, or require an extra premium. So of persons who are not in good health, or who have hereditary disease.

Unless there is an understanding to the contrary, a policy is vitiated by the suicide of the insured, if he was in his right mind and responsible for his act; otherwise probably not.

Assignment of Policies.

Policies of life insurance may be, and frequently are assigned to others, who may then claim the insurance upon the death of the insured. The policy should be transferred to the possession of the assignee, unless a formal deed of assignment is drawn up, signed and delivered, when a transfer is unnecessary. It has even been held that a simple transfer of the policy, if intended as an assignment, is sufficient to work one, without any written agreement whatever.

An assignment is often made by a debtor to his creditor; indeed insurances are frequently effected by debtors on their lives for the express purpose of giving the policy to their creditors as a further security, or else the policy is made out in the first instance to the creditor as beneficiary.

Thus A owes money to B, and B is willing to give

A time in which to pay up the debt slowly, but fears that if A should die meanwhile, he would lose the money or a part of it, so A insures his life for the benefit of B, for a sum upon which the parties agree, thereby securing payment even in case of his death.

Of course, an assignment cannot be given without the consent of the company, unless the general rules of the company or the terms of the policy countenance such assignments, which is often the case.

Policies on the Lives of Women.

Some companies will not insure the lives of women, considering the risk extra hazardous. Other companies will issue such policies, but charge an extra percentage (usually from one-half of one per cent. to one per cent. more), on the lives of women below a certain age, usually about forty years. Some companies make no distinction between the sexes.

The subject of insurance has not been covered in all its bearings by the foregoing statements; indeed, there are some other kinds of insurance, that have not been mentioned, as that against accidents; but the general leading principles here given apply to all cases, and it does not seem necessary to consider the subject at greater length.

CHAPTER XX.

REAL PROPERTY.

Movables and Immovables-Other Terms in Use-An Estate in Lands--The Estate in Fee Simple-Alienation of an Estate in Lands-Legal Conditions in Restraint of Alienation-Restrictions Imposed by Law on Alienation-Essentials of a Deed-Word "Heirs" in Wills and in Deeds-The Estate in Fee Tail-The Estate for the Life of the Grantee-The Estate for Life of Another-Features of an Estate for Life-Tenant's Right to Emblements, etcWaste.

Movables and Immovables.

The earliest and most natural division of property was into movables and immovables. Movables were considered in ancient times to be less valuable than were immovables, because enemies might carry away or destroy the former, while of the latter they could only take possession, and might be driven out in their turn.

Immovables consist of land and buildings erected upon it, and the term real property is the one most used to designate them, in distinction from the term personal property, which is used to cover most other kinds of possessions.

Other Terms in Use.

Other terms were anciently applied to these two classes of property, which have remained in use. more or less. The expression lands, tenements and hereditaments, is often seen in law books, and sometimes in deeds and other instruments. They are interchangeable terms for immovables; tenements meaning things capable of being held, and hereditaments things capable of being inherited. In early times, this last class of immovables was the only property thus susceptible of being absolutely owned, and of remaining in the family by descent.

The term goods and chattels has also been used from time almost immemorial, to designate personal property or movables.

An Estate in Land.

The property or interest which one may have in land is called an estate. Thus one who owns land absolutely has an estate in fee simple; one who holds it for his life only has an estate for life; a lessee has an estate for years; and one who hires without a lease has an estate at will. Any interest whatever in land is an estate therein.

When land is sold, it is transferred by a deed of conveyance, and is generally said to be conveyed; so when one speaks of a conveyance of property, it usually means of real property. He who conveys is the grantor; he to whom the conveyance is made is the grantee.

The word "land," as used in law, includes all buildings and trees standing on the land, and all mines and minerals beneath it; for the ownership of land has

always been held to extend indefinitely upward into the air and down into the earth.

Thus actions of trespass have been brought against aeronauts for passing over the plaintiff's land in a balloon. Actions have also been recently brought against telephone companies by owners of houses on the roofs of which telephone wires have been fastened without the consent of the owners; though in this latter class of cases, there is of course stronger ground of action than in the former, inasmuch as the trespass includes an actual contact with the buildings of the plaintiff.

If it be so desired, the surface land, and mines beneath it, may be separately conveyed to different purchasers, if thus expressed in the deed.

The Estate in Fee Simple.

When one is the absolute owner of land, he has what is called in law an estate in fee simple. This is the highest and most complete estate which any one can have in land. (The word "simple" is only used to distinguish the estate from that in fee tail, and is often omitted, the term estate in fee meaning one in fee simple.) An estate in fee simple descends to all relations according to the usual rules of descent, which are fixed in each state by statute. [See Abstracts, Title "Descent and Distribution of Property."]

Alienation of an Estate.

Any estate may be entirely alienated by its owner; that is, he may sell, or give, or devise by will, the entire title to any one else.

In olden times, the policy of the law in England was precisely contrary to that of modern times in