ments. give a similar notice (f). The importance of giving Inquiry as to notice suggests the precaution that every person about prior assignto accept an assignment of a chose in action should inquire of the person liable to the action or suit, whether he has had notice of any prior assignment. And if there be two or more persons liable, inquiry should be made of every one of them; for notice by a prior assignee to any one of them would be equivalent to notice to all (g). It is also advisable that a written answer should be obtained to every such inquiry, in order that if the assignee should be misled by a false answer, he may be enabled to recover damages for the misrepresentation. For it has been doubted whether the answer to such an inquiry be not a representation concerning the ability of the intended assignor within the meaning of Lord Tenterden's act, which requires that all such representations be made in writing signed by the party to be charged therewith (h). The inquiry, however, thus recommended will not of itself strengthen the title of the assignee, further than by assuring him that no previous assignment has been made. In order to obtain a good title, he must himself give notice to the person or one of the persons liable to the debt or demand assigned to him. When this has been done his title will be secure, and will prevail over that of any unknown prior assignee who may have omitted to give such notice (i). If the property consist of money or stock standing in the name of the accountant-general of the Court of Chancery, or of securities in his possession (k), an order of the court should be obtained restraining transfer or payment without notice to the (f) Re Barr's trusts, 4 Kay & J. 219. (g) Smith v. Smith, 2 Cr. & M. 231; Meux v. Bell, 1 Hare, 73, 87. See Browne v. Savage, 4 Drew. 635, 640. (h) Lyde v. Barnard, 1 Mee. W.P.P. & Wels. 101; Swann v. Phillips, (k) Williams v. Symonds, 9 C C Stop order, Distringas. Title through Abstract of title. assignee. This order is called a stop order, and will have the same effect as notice of assignment given to any private debtor (1). If the property be stock standing in the name of a trustee, who has died without any administration having been taken out to his effects, a distringas obtained by the assignee to restrain the transfer of the stock will confer on him the same priority as notice to the trustee would have done had he been living (m). When the property consists of a policy of assurance, or of shares in a joint-stock company, notice of the transfer should be given to the office of the company (n). The title to personal property sometimes depends upon deeds, wills or other documents of title of the like nature, and cannot be shown without their production. Thus a reversionary interest in money in the funds, settled by deed or will, may be mortgaged and sold again and again before it becomes an interest in possession. In these cases the purchaser is entitled to an abstract of the deeds, wills, &c. which compose the title, in the same manner as if the subject of the contract had been real estate; and the original deeds, and the probates or office copies of the wills, must also in like manner be produced for the verification of the abstract (o). The purchaser is also entitled either to the possession of the deeds, or, if this cannot be had, to attested copies of them, and a covenant for their production, at the exCovenants for pense of the vendor (p). And when an assignment of title. (1) Greening v. Beckford, 5 Sim. 195; Swayne v. Swayne, 11 Beav. 463. (m) Etty v. Bridges, 2 Younge & Coll. N. C. 466; see ante, p. 189. (n) Williams v. Thorpe, 2 Sim. 257; Thompson v. Spiers, 13 Sim. 469; West v. Reid, 2 Hare, 249; Martin v. Sedgwick, 9 Beav. 333; Powles v. Page, 3 C. B. 16. (0) See Principles of the Law of Real Property, 349, 1st ed.; 351, 2nd ed.; 364, 3rd ed.; 370, 4th ed.; 381, 5th ed.; 404, 6th ed.; 412, 7th ed.; Hobson v. Bell, 2 Beav. 17. (p) Ibid. 354, 356, 1st ed.; 356, 358, 2nd ed.; 369, 372, 3rd ed.; 375, 378, 4th ed.; 389, 5th ed.; 412, 6th ed.; 420, 7th ed. any kind of personal property is made by deed, it is usual for the assignor to enter into covenants for the title similar to those entered into under the like circumstances by the grantor of real estate (q). The vendor of shares in a joint-stock company is Title to shares. bound merely to give such evidence of the constitution of the company, as to show that the proposed transfer will give a valid title to the shares sold (r). A recent act of parliament provides that any person A person may shall have power to assign personal property, now by self. assign to himlaw assignable, directly to himself and another person or other persons or corporation, by the like means as he might assign the same to another (s). Before this act an assignment by A. to himself and B. vested the whole of the property in B. The same act renders criminally punishable the concealment, with intent to defraud, of any deed or instrument material to a title or of any incumbrance, or the falsification of any pedigree on which a title depends (t). From what has been said it will appear that the title Comparison of to personal property is far more simple than that to real the title to real and personal estate. And amongst the plans which have appeared for estate. the amendment of the law has been one for adapting the machinery of the funds to the transfer of landed property. Upon consideration, however, it will perhaps appear that the greater complexity of the title to lands arises partly from the nature of the property, and partly from the more full power of disposition to which lands are subject. Lands, unlike stock, may be converted (1) See Principles of the Law of Real Property, 348, 1st ed.; 349, 2nd ed.; 362, 3rd ed.; 368, 4th ed.; 379, 5th ed.; 402, 6th ed.; 410, 7th ed. (r) Curling v. Flight, 2 Phil. 613. (8) Stat. 22 & 23 Vict. c. 35, s. 21. (t) Sect. 24, extended by stat. 23 & 24 Vict. c. 38, s. 8. from arable to pasture, may be cut up into roads, canals or railways, may be sold by the foot for building purposes, may be let upon lease for terms absolute or determinable, may be held for life, or in tail, as well as in fee, and may be disposed of by contingent remainders, shifting uses and executory devises, without the intervention of any trustees. Personal property, on the contrary, cannot be settled without the intervention of trustees in whom a great degree of personal confidence must necessarily be placed; but when so settled, the title to it is sometimes as long and intricate as that to real estate. If the nature of lands could be altered, or if landowners were willing, in order to save themselves expense, to give up some of their powers of disposition, the title to real estate might doubtless be rendered as simple as that to personal property. To the latter alternative, however, few, if any, would be inclined to submit. Whilst, therefore, much might be done to simplify and improve our laws of property by an assimilation of the rules of real and personal estate, where the history of each forms the only ground of variety, care should be taken to preserve untouched such distinctions as are founded on the broad basis of practical difference. APPENDIX (A.) Referred to p. 224. Form of Letters Patent. - which VICTORIA by the grace of God of the United Kingdom of Great Britain and Ireland Queen Defender of the Faith to all to whom these presents shall come greeting WHEREAS A. B. of hath by his petition humbly represented unto us that he is in possession of an invention for the petitioner conceives will be of great public utility That he is the true and first inventor thereof and the same is not in use by any other person or persons to the best of his knowledge and belief The petitioner therefore most humbly prayed that we would be graciously pleased to grant unto him his executors administrators and assigns our royal letters patent for the sole use benefit and advantage of his said invention within our United Kingdom of Great Britain and Ireland the Channel Islands and Isle of Man [COLONIES TO BE MENTIONED IF ANY] for the term of fourteen years pursuant to the statutes in that case made and provided [AND WHEREAS the said A. B. hath particularly described and ascertained the nature of the said invention and in what manner the same is to be performed by an instrument in writing under his hand and seal and has caused the same to be duly filled in -] AND WE being willing to give encouragement to all arts and inventions which may be for the public good are graciously pleased to condescend to the petitioner's request Know ye therefore that we of our especial grace certain knowledge and mere motion have given and granted and by these presents for us our heirs and successors do give and grant unto the said A. B. his executors administrators and assigns our especial licence full power sole privilege and authority that he the said A. B. his executors administrators and assigns and every of them by himself |