troversies, trespasses, damages and demands whatsoever at any time or times thentofore had, made, commenced, sued, prosecuted or depending by or between the said parties, or either of them, so as the said award should be made in writing under the hands and seals of the said arbitrators, or any two of them, ready to be delivered unto the said parties, or such of them as should require the same on or before the day of this instant as by the said obligations and conditions thereof it doth and may appear: Now know ye, that the said A A, C C and DD taking upon them the charge and burden of the said award, and having deliberately heard the allegations and proofs of both the said parties, do by these presents arbitrate, award, order, decree and adjudge of and concerning the premises in manner and form following; that is to say, First, they do award, order, decree and adjudge, that the said F F or his heirs, shall and do, on or before the day of - next ensuing the date hereof, make and execute a good and sufficient conveyance of a certain farm in the possession of the said F F situate -, pursuant and according to the true intent and meaning of certain articles of agreement, bearing date on or about the and made between the said F F of the one part, and the said E E of the other part, or as near the same as the present circumstances will admit. day of And also the said arbitrators do further award, decree and adjudge, that the said F F, his executors or administrators, shall and do, on or before the said day of. next ensuing the date hereof, pay or cause to be paid unto the said E E, his executors or administrators, at or in the now dwelling-house of the said EE in aforesaid, the sum of fifty dollars, in full payment, discharge and satisfaction of and for all monies,debts,duties, due or owing unto the said E Eby the said FF úpon any account whatsoever, at any time before their entering into the said bonds of arbitration as aforesaid. And also the said arbitrators do hereby further award, order, decree and adjudge, that all actions and suits commenced, brought or depending between the said E E and FF for any matter, cause or thing whatsoever arising or happening at the time of or before their entering into the said bonds of arbitration, shall from henceforth cease and determine, and be no further prosecuted or proceeded in by them or either of them, or by their or either of their means, consent or procurement. And lastly, the said arbitrators do hereby further award, order, adjudge and decree, that the said EE and F F shall and do, within the space of two days next ensuing the date of this present award, seal and execute unto each other mutual and general releases of all actions, cause and causes of action, suits, controversies, trespasses, debts, duties, damages, accounts, reckonings and demands whatsoever, for or by reason of any matter, cause or thing whatsoever, from the beginning of the world to the day of the date of the said bonds of arbitration as aforesaid. In witness whereof the said arbitrators of this present award have set their hands and seals this To all An award by an Umpire. day of, &c. and M C of "O all to whom these presents shall come, I, J K of send greeting. Whereas divers suits, variances, controversies, strifes, and debates have been, and yet are depending between RD of · for the appeasing, pacifying, ordering and determining whereof the said R D and M C have submitted themselves, and are become bound each to the other by their several obligations, dated the in the sum of with conditions thereunder written, to stand to, obey, abide, observe, perform, fulfil and keep the award, order, final end, arbitrament and determination of J F and RR arbitrators indifferently elected and chosen, as well on the part and behalf of the said RD as on the part and behalf of the said M C, to award, order, arbitrate, determine and judge of and concerning all and all manner of actions, suits, judgments, executions, accounts, reckonings, trespasses, controversies and demands whatsoever, had, made, moved, stirred and depending between the said RD and M C, from the beginning of the world until the day of the date of these presents; so always as the said award, arbitrament, determination and judgment of them the said J F and R R for and concerning the premises, should be made and put in writing under their hands and seals on or before the and if the said arbitrators should award in writing aforesaid on or not make their said before the said then the said parties were to stand to, obey, abide, observe, perform and keep the award, umpirage, final end and judgment of me the said JK umpire, indifferently chosen between the said parties for ending the differences aforesaid, so as my said award and umpirage was made in writing under my hand and seal, ready to be delivered to the said parties at, &c. as by the said several obligations and conditions thereof, relation being thereunto had, may more fully and at large appear: And whereas the said J F and R R did not make their award between the parties by the time limited by the said bonds of arbitration as above-mentioned, whereby the composing, pacifying and ordering the said differences, and matters and disputes, depends wholly upon me: Now know ye, that I the said J K having taken upon me the charge and business of the said award, and being willing to set the said parties at peace and concord, by making a final end of the controversies between them, and having by good advice and deliberation heard and examined, the allegations and proofs of both the said parties concerning the said premises in dispute, do with the consent of both the said parties make, publish, declare and deliver this my award concerning the said premises in manner and form following, to wit, First, I finally award, judge and determine, that, &c. Secondly, &c. In witness, c. BILLS, BONDS, AND NOTES FOR THE PAYMENT OF MONEY. PRACTICAL REMARKS. 1. Bills and Bonds. All words which prove that the maker is debtor to an other, amount to a sufficient obligation, if under seal. Obligations are single or penal. When single, they usually take the form of notes. The principal differences between a sealed note and one without a seal are, that the former must be first paid in the settlement of a dead man's estate, and it is not barred by the statute of limitation. An indorsement of a sealed note gives the holder nothing more than an equitable ownership: He takes subject to all existing claims and defences by the maker. As in ordinary cases of transfer of personal property, the indorser is liable by warranty or a false representation. Penal obligations sometimes take the form of penal bills, but more usually that of bonds, with conditions. The legal effect and operation of both is the same. The difference between a single and a penal obligation is, that in a suit on the former, no interest can be collected after the judgment is completed: but a judgment on the latter, being for the penalty, as due at law, interest may be taken under it until satisfaction. 2. Notes. No particular words are necessary to make a note; any promise in writing, which from the time of making it, cannot be complied with, without payment of money, is a note. Notes payable to order or bearer, when transferred, give to the assignee a right against all the antecedent parties whose names are on them. Notes payable to bearer may be transferred by delivery only, in which case the person making the delivery, ceases to be a party to the note: or by indorsement, when the person who puts his name on the back of the note becomes liable as indorser. Notes payable to order are assignable in the first instance by indorsement only, by the payee : if the indorsement however is in blank or to bearer, the note may then be transferred by delivery. A note cannot be indorsed for a less sum than all the money due. The indorsement may be restrictive so as to preclude a recourse to the indorser or any antecedent party, but it must be by express words. If the note is payable to several persons, not partners, it must be indorsed by all. A note may be transferred either before or after it is due. When taken before due, the assignee is not affected by any circumstances existing between the antecedent parties to the note. When received after due, the assignee takes the note subject to all the equitable rights existing between the parties. A note importing to be payable at a certain time, is not in fact payable until three days after, which are called days of grace. In order to make an indorser before the day of payment liable, a demand must be made, or attempted, upon the last day of grace, and notice of non-payment must be given to such of the parties as reside in the place by the expiration of the next day to those residing elsewhere, by the next post, or if there is no post, by the earliest ordinary mode of conveyance. Every party receiving notice should immediately give a fresh one to the persons standing before him, who he wishes to make liable to him. NOTES. I promise to pay A B or order (or bearer,) on demand, one hundred dollars with interest, for value received. Nov. 6, 1813. Two months after date we or either of us, promise to pay A B or order, (or bearer) one hundred dollars with interest, for value received. Nov. 6, 1813. Indorsement. Pay the contents to CD or his order, (or bearer), K BILLS. A Penal Bill. NOW all men by these presents, that I, C D do owe unto E F the sum of $100 to be paid to the said E F, his executors, administrators or assigns, with interest, on or before the next; for the which payment well and truly to be made, I bind myself, my heirs, executors and administrators, in the penal sum of $200, firmly by these presents. In witness, c, Sealed, c. |