covering of such person any balance or sum of money remaining in his hands, as the produce of the sale of such goods, &c., after deducting the amount of the money or negotiable instrument or instruments so advanced or given upon the security thereof: provided always, that in case of the bankruptcy of any such factor or agent, the owner of the goods, &c. so pledged and redeemed, shall be held to have discharged pro tanto the debt due by him to the estate of such bankrupt. 7. Agents fraudulently pledging the goods of their principals deemed guilty of a misdemeanor; and may be transported for fourteen years. 8. The act not to extend to cases in which the agent has not made the goods a security for any sum beyond the extent of his own lien. Acceptances of bills by an agent not to create a lien so as to excuse the pledge, unless the bills are paid when due. 9. The penalty of the act not to extend to partners not being privy to the offence. 10. The act not to lessen any remedy at law or equity which the party aggrieved may be entitled to adopt. AGREEMENTS. Agent. In case of bankruptcy of factor, the owner of goods pledged and redeemed shall be held to have discharged pro tanto the debt due to bankrupt. AGREEMENTS. Assign. No. VII. *An Agreement to assign the Benefit of a Contract for a Purchase before the Master (1). Witness assignor ARTICLES of agreement [indented] made this day of in the year 18. BETWEEN (the assignor) of, &c. of the one part, and (the assignee) of, &c. of the other part. WHEREAS &c. (recite shortly the proceedings leading to the sale, &c. and the report of the Master or Deputy Remembrancer of the assignor's being the highest bidder.) WHEREAS N. B. (one of the Masters of the High Court of Chancery, or Deputy Remembrancer of his Majesty's Court of Exchequer at Westminster) by his report dated, &c. as by the said order and report and other the said proceedings on reference being thereunto respectively had will appear. And whereas the said (assignor) hath agreed with the said (assignee) to assign or make over the interest of him the said (assignor) in the said purchase [in consideration of the sum of £ ] (2) Now THESE PRESENTS WITNESS that the said (assignor) for and in consideration of the sum of £ to be to him paid by the said (assignee) at the time and in the manner hereinafter Purchase of contract. Consideration. (1) Of assignment of contracts, see post. "Assignments;" also ante Vol. III. pp. 512.522. in notis. This agreement may perhaps with some justice be considered as belonging more properly to the class of PURCHASE DEEDS. See ante, Vol. III. No. CVIII. and n. (2) there, but where any subject for a precedent has occurred to the editor as being likely to present itself frequently in practice, he has inserted a form in the supplemental volumes, rather than the profession should lose altogether the benefit to be derived from it, although it might have been introduced in the previous SERIES. (2) The consideration, if any, for the assignment to a third person of premises sold before a Master must be very small, as, if it be a considerable advance upon the sum originally bidden, the biddings will be opened for a further competition. AGREEMENTS. Assign. mentioned, and of the covenants herinafter contained on the part of the said (assignor) to be performed, тH hereby (as much as in him lies) absolutely assign, transfer, set over and relinquish unto the said (assignee), his heirs and assigns [oexecutors, administrators, and assigns, if the premises be leasehold] t and for his and their own use and benefit, all and every the interest property, benefit, advantage, claim and demand whatsoever, both at law and in equity, which he the said (assignor), or any person or persons in trust for him, now hath or have, or at any time hereafter shall r may have or be entitled under or by virtue of his said bidding or the said report, in or to the lands, hereditaments, and estate, hte of, &c. (as the case may be) in the said particulars of sale, s exhibited as aforesaid is mentioned, and subject to the terms and conditions thereunder written in all things. And he the said assignor), doth by these Power of attorpresents constitute and appoint the said (assignee), his heirs and ney. assigns, [or executors, &c.] to stand in the room, place and stead, and use the name of him the said (ssignor) (1) in all acts, matters and things whatsoever, whether in the said Court of , or before the said Master, or elsewhere, to be done or performed for completing the said purchase or otherwise in relation thereto, and for requiring and having a good and sufficient conveyance made of the same unto and to the use of him, the said (assignee) his heirs and assigns [or executors, &c.] or as he or they shall require, and that as fully, effectually, and absolutely, and in as beneficial a manner, to all intents and purposes whatsoever, as would have belonged to him the said (assig nor) or his heirs, [or executors, &c.] if these presents had not been made, and as if the said (assignee) had been the best bidder and reported purchaser of and for the said premises, instead of him the said (assignor); And he (the assignor) his leirs, &c. shall and will at his and their own expense, at any time or times hereafter, make or concur in any application to the said court which may be requisite to constitute him, the said (assignee), the purchaser thereof, in lieu of him the said (assignor), and all such other acts and things, (1) A mere contract, or other chose in action, not being at law as- Power of attorsignable, it is necessary that a power should be given to the assignee to ney. use the name of the assignor in whatever may be necessary to complete it. See Delaney v. Stoddart, 1 Durn. & East. 26, and ante MOD. PREC. Vol. III. p. 327.n. AGREEMENTS Court. first purchase. as may be necessary and expedint to give effect and confirmation. Assign. to these presents according to the true intent and meaning of the Further witness. same. AND THESE PRESEN'S FURTHER WITNESS, that he the Assignee covenants to stand in said (assignee) in consideratio of the relinquishment, assignment, place of assignor. or transfer hereinbefore made, or intended to be made to him by the said (assignor) as aforesaid, DOTH for himself, his heirs, executors, and administrators, cove:ant, promise and agree with, and to the said (assignor) his heirs pr executors and administrators] and assigns by these presents in the manner following, (that is to say) that he, the said (assignee his heirs [or executors and administrators] and assigns shall and will from henceforth stand in the place and stead of him, th said (assignor), in all things for completing the purchase of the said lands, hereditaments, and estate, Obey orders of late of him the said, &c. & aforesaid. And shall and will obey and perform all and every uch orders, decrees, and directions, as shall or may from henceforti and from time to time be made or given Pay expences of by the said Court, touching or concerning the same. AND, also, completing that he the said (assigne) his heirs [or executors and administrators] and assigns shall and will pay and discharge all and all manner of costs, charges, and expenses whatsoever, which shall or may be incurred, and allowed by the said Master, for or in completing Pay original pur- the said purchase. AND upon having a good and proper conveyance or assurance made o him and them, shall and will pay, or cause to be paid, the said purchase money or sum of £ to such person or persons, or so and in such manner, as the said court shall and the present in that behalf order or direct. AND further, that he, the said (assignee) his heirs, executors, or administrators shall also, and will thereupon and immediately thereafter, well and truly pay, or cause to be paid, unto the said (assignor) his executors, administrators, or assigns, the said sum of £ hereby agreed to be paid for the And indemnify purchase of his estate and interest in the said premises. AND the assignor. lastly, that he the said (assignee), his heirs, executors, or administrators shall and will from time to time, and at all times hereafter, save, defend, keep harmless, and indemnified the said (assignor), his heirs, executors, and administrators, and his and their real and personal estates and effects, from and against all orders, decrees, actions, suits, costs, charges, damages, and expenses whatsoever, which shall or may fall upon or be occasioned or sustained by him or them, or wherein he or they may be liable, by reason or on account of his the said (assignor) being reported the purchaser of the said estate and premises, or of the failure of him the said (assignor) his heirs [or chase money, consideration money, executors or administrators], or of him the said (assignee), in completing the said purchase, or obeying the orders, decrees, or directions of the said court relating thereto, or otherwise by reason of these presents. IN WITNESS whereof, the said parties hereto have [interchangeably] put their hands and seals (1), this &c. AGREEMENTS. Assign. (1) An agreement of the above kind should be under the seal of the Sealing, &c. assignor (but that of the assignee is not so material); and the assignor should have a counterpart under the hand at least of the assignee; hence the usual way is for both parties to sign and seal the agreement, and each to retain one in which the word [interchangeably] will be omitted. -See also ante case INTROD. p. vi. ix. et seq. With respect to the proper stamp see ante INTROD. p. xiv. et seq; but Stamp. if under seal it is to be considered as a deed, see ibid. |