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Remarks relating to Notes.

1. The person who signs a note, is called the drawer or maker of the note: thus, Reuben Holmes is the drawer of note No. 1.

2. The person who has the rightful possession of a note, is called the holder of the note.

3. A note is said to be negotiable when it is made payable to A B, or order, (See No. I.) Now if Abel Bond to whom this note is made payable, writes his name on the back of it, he is said to endorse the note, and he is called the endorser; and when the note becomes due, the holder must first demand payment of the maker, Reuben Holmes, and if he declines paying it, the holder may then require payment of Abel Bond, the endorser.

4. If the note is made payable to A B, or bearer, then the drawer alone is responsible, and he must pay to any person who holds the note.

5. The time at which a note is to be paid should always be named, but if no time is specified, the drawer must pay when required to do so, and the note will draw interest after the payment is demanded.

6. When a note, payable at a future day, becomes due, it will draw interest, though no mention is made of interest. 7. In each of the States there is a rate of interest established by law, which is called the legal interest, and when no rate is specified, the note will always draw legal interest. If a rate higher than legal interest be taken, the drawer, in most of the States, is not bound to pay the

note.

8. If two persons jointly and severally give their note, (See No. 3) it may be collected of either of them.

9. The words "For value received," should be expressed in every note.

and

10. When a note is given, payable on a fixed day, in a specific article, as in wheat or rye, payment must be offered at the specified time, and if it is not, the holder can demand the value in money.

A BOND FOR ONE PERSON, WITH A CONDITION.

KNOW ALL MEN BY THESE PRESENTS, THAT I James Wilson of the City of Hartford and State of Connecticut am held and firmly bound unto John Pickens, of the Town of Waterbury, County of New Haven and State of Connecticut in the sum of Eighty dollars lawful money of the United States of America, to be paid to the said John Pickens his executors, administrators, or assigns: for which payment well and truly to be made I bind myself, my heirs, executors, and administrators, firmly by these presents. Sealed with my Seal. Dated this Ninth day of March one thousand eight hundred and thirty-eight.

THE CONDITION of the above obligation is such, that if the above bounden James Wilson, his heirs, executors, or administrators, shall well and truly pay or cause to be paid, unto the above named John Pickens, his executors, administrators, or assigns, the just and full sum of

Here insert the condition.

then the above obligation to be void, otherwise to remain

in full force and virtue.

Sealed and delivered in the presence of

John Frost,

Joseph Wiggins.

James Wilson.

L.S.

NOTE. The part in Italic to be filled up according to circumstance.

If there is no condition to the bond then all to be omitted after the words "THE CONDITION, &c."

A BOND FOR TWO PERSONS, WITH A CONDITION.

KNOW ALL MEN BY THESE PRESENTS, THAT, WE James Wilson and Thomas Ash of the City of Hartford and State of Connecticut, are held and firmly bound unto John Pickens of the Town of Waterbury, County of New Haven and State of Connecticut, in the sum of Eighty dollars lawful money of the United States of America, to be paid to the said John Pickens, his executors, or assigns: for which payment well and truly to be made We bind ourselves, our heirs, executors, and administrators, firmly by these presents. Sealed with our Seal. Dated the Ninth day of March one thousand eight hundred and thirty-eight.

THE CONDITION of the above obligation is such, that if the above bounden James Wilson and Thomas Ash their heirs, executors, or administrators, shall well and truly pay or cause to be paid, unto the above named John Pickens his executors, administrators, or assigns, the just and full sum of

Here insert the condition.

then the above obligation to be void, otherwise to remain

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NOTE. The part in Italic to be filled up according to circumstance.

If there is no condition to the bond, then all to be omitted after the words "THE CONDITION, &c."

A PRACTICAL SYSTEM OF BOOK-KEEPING.

PERSONS transacting business find it necessary to write down the articles bought or sold, together with their prices and the names of the persons with whom the bargains are made.

BOOK-KEEPING is the method of recording such transactions in a regular manner. It is divided into two kinds, called Single Entry and Double Entry. The method by Single Entry is the most simple, and answers for all common business. This method we will explain.

Book-Keeping by Single Entry requires two books, a Day-Book and a Leger; and when cash sales are extensive, an additional book is necessary, which is called a Cash Book.

DAY-BOOK.

This book should contain a full history of the business transactions, in the precise order in which they may have occurred.

The transfer of an account from the Day-Book to the Leger, is called posting the account.

Each page of the Day-Book should be ruled with two columns on the right hand of the page, one for dollars, and one for cents, and one column on the left hand for entering the page of the Leger on which the account may be posted.

The Day-Book should begin with the name of the owner, and his place of residence; and then should follow a full account of the transactions in business in the exact order in which they may have taken place.

The name of the person, or customer, is first written with the term Dr. or Cr. opposite, according as he becomes a debtor or creditor by the transaction.

Generally, the person who receives is Debtor, and the person who parts with his property is the Creditor.

Thus, if I sell goods to to A B, on credit, he becomes my debtor to the amount of the goods, and the goods should be specified particularly in making the charge.

If I buy goods on credit, of C D, I enter C D Cr. to the amount of the goods, taking care to specify the goods. in the charge.

If I pay money for, or on account of another person, he becomes Dr. to me for the amount paid.

The Day-Book and Leger are generally designated, Day-Book A, Day-Book B, Leger A, Leger B, &c.: for when one book, in the course of business, is filled with charges a new one is taken.

DAY-BOOK A.

Page 1. Edward P. Nixon, New York, June 1, 1837.

Folio

New York, June 1st. 1837.

Leger George Wilson,

cts.

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x1.To 11 cwt. of sugar at $9 per cwt. $99,00 To 661b. of coffee at 20 cts. per. lb.

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13,20 11220

Dr.

$159,10

1,60 160 70

Dr.
$327,09

124,02 451 11

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