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OF CONVEYANCES AND CONTRACTS, RELATIVE TO REAL AND PERSONAL PROPERTY, FRAUDULENT AND VOID.
SECTION 1. No action shall be maintained in any of the following cases unless the promise, contract, or representation upon which such action shall be brought, or some memorandum or note thereof, shall be in writing, and subscribed by the party to be charged therewith, or by some person thereunto by him lawfully authorized:
First. To charge an executor or administrator, upon any special promise, to answer damages, or to pay the debts of the testator or intestate out of his own estate; or,
Secondly. To charge any person upon any agreement made in consideration of marriage, except mutual promises to marry.
Thirdly. To charge any person upon any special promise to answer for the debt, default, or miscarriage of another; or,
Fourthly. To charge any person upon a special promise made by him, after attaining full age, to pay a debt contracted during infancy; or upon a ratification, after full age, of a promise or contract made during infancy; or,
Fifthly. To charge any person upon or by reason of any assurance or representation concerning the character, conduct, ability, trade, or dealings of another, made to the intent or purpose that such other may obtain thereby credit, money, or goods; or,
Sixthly. Upon any agreement that is not to be performed within one year from the making thereof; or,
Seventhly. Upon any contract for the sale of land, or the lease thereof, for more than three years.
SEC. 2. The consideration of any such promise, contract, agreement, or representation, need not be set forth or expressed in such writing, but may be proved by any legal evidence.
SEC. 3. No contract for the sale of any goods, chattels, or things in action, for the price of fifty dollars or more, shall be valid, unless
1st. A note or memorandum of such contract be made in writing, and be subscribed by the party to be charged therewith, or by some person thereunto by him lawfully authorized; or,
2dly. Unless the buyer shall accept and receive a part of such goods or chattels, or the evidences, or some of them, of such things in action; or,
3dly. Unless the buyer shall at the time pay some part of the purchase money.
SEC. 4. Whenever any property, real or personal, shall be sold at public auction, and the auctioneer shall at the time of sale enter in a sale-book, a memorandum specifying the nature and price of the property sold, the terms of sale, the name of the purchaser, and the name of the person on whose account the sale is made, such memorandum shall be deemed a note of the contract of sale within the meaning of the section immediately preceding, or of part seventh of section one.
SEC. 5. The provisions of section three shall extend to all contracts for the sale of goods of the value of fifty dollars or more, notwithstanding it may be intended to deliver the goods at some future day, or the same may not at the time of such contract be actually made, provided, or fit for delivery, but require some act for the making or completing thereof, and rendering the same fit for delivery.
SEC. 6. Nothing contained in this chapter shall be constured to abridge the powers of the circuit court to compel the specific performance of agreements, in cases of partial performance thereof.
SEC. 7. Every conveyance or devise of lands, and every gift or bequest of goods or chattels, to any minister of the gospel, as such, or to any religious sect or denomination, or for the support or in trust for the same, shall be void, except such as either of them are authorized to hold through trustees, by the provisions of chapter twenty, Part I, of this Code.
SEC. 8. No goods, chattels, or slaves, whereof the vendor, donor, mortgagor, or assignor, shall remain in possession, shall pass, or any property therein be transferred, as against the creditors of such vendor, donor, mortgagor, or assignor, or subsequent purchasers in good faith, except by an instrument in writing, acknowledged and certified as herein before required with regard to deeds of real estate, and recorded and indexed, in the office of the recorder.
SEC. 9. The term creditors, as used in the last section, shall be construed to include all persons who shall be creditors of the vendor, donor, mortgagor, or assignor, at any time while such goods, chattels, or slaves, shall remain in his possession.
SEC. 10. Nothing contained in the last two sections shall avoid or defeat any contract of bottomry, or respondentia, nor any transfer, assignment, or hypothecation of any ship or goods, at sea or abroad, if the mortgagee or assignee shall take possession of such ship or goods, as soon as may be after the arrival thereof within this District.
SEC. 11. Every conveyance of any estate in lands, and every charge, trust, limitation of use, upon, or in any lands, made or created with intent to defraud prior or subsequent purchasers, for a valuable consideration, of the same lands, as against such purchaser for a valuable consideration, shall be void.
SEC. 12. No such conveyance, charge, estate, interest, use, or trust, otherwise valid, shall be deemed fraudulent in favor of a subsequent purchaser, who shall have actual or constructive notice thereof at the time of his purchase, unless it shall appear that the grantee in such conveyance, or person to be benefitted by such charge, estate, interest, use, or trust, was privy to the fraud intended.
SEC. 13. Every conveyance of, or charge upon, any estate in lands, containing any provision for revocation at the will of the grantor, shall be void as against subsequent purchasers, from such grantor, for a valuable consideration, of any estate or interest so liable to be revoked, although the same may not be expressly revoked.
SEC. 14. When a power to revoke a conveyance of any interest in lands, and to reconvey the same, shall be given to any person other than the grantor, and such person shall thereafter convey such interest to a purchaser, for a valuable consideration, such subsequent conveyance shall be valid.
SEC. 15. If a conveyance to a purchaser, under either of the last two preceding sections, shall be made before the person making the same shall be entitled to execute his power of revocation, it shall be valid from the time the power of revocation shall vest in such person.
SEC. 16. All conveyances or assignments, in writing or otherwise, of any estate in lands, of goods or things in action, every charge upon lands, goods, or things in action, and all bonds, contracts, evidences of debt, judgments, decrees, made or suffered with intent to hinder, delay, or defraud creditors of their lawful damages, forfeitures, debts, or demands, shall be void as to the persons sought to be defrauded.
SEC. 17. All deeds of gift, conveyances, transfers, or assignments, verbal or written, of goods or things in action, made in trust for the use of the person making the same, shall be void as against creditors, existing or subsequent, of such person.
SEC. 18. Every conveyance, charge, instrument, act, or proceeding, declared by the provisions of this chapter to be void as against creditors or purchasers, shall be void against the heirs, executors, administrators, or assignees, of such creditors or purchasers.
SEC. 19. The provisions of this chapter shall not be construed to affect the title of a purchaser for a valuable consideration, unless it shall appear that such purchaser had previous notice of the fraudulent intent of his immediate grantor or assignor, or of the fraud rendering void the title of such grantor or assignor.
SEC. 20. The question of fraudulent intent, in all cases arising under any of the provisions of this chapter, shall be deemed a question of fact, nor shall any conveyance or charge be adjudged fraudulent as against creditors or purchasers, solely on the ground that it was not founded on a valuable consideration.
SEC. 21. All assignments of property in trust which shall be made by debtors to trustees, in contemplation of insolvency, with the design to prefer one or more creditors to the exclusion of others, shall be held to enure to the benefit of all creditors in proportion to their respective
demands; and such trusts shall be subject to the control of the circuit court, which may require security of the trustees for the faithful execution of the trusts, or remove them and appoint others, as justice may require.
Of trusts and powers; and limitations of personal and real
CHAPTER 66. Of trusts and powers.
CHAPTER 67. Of the accumulation, suspension of ownership, and joint tenancy of personal property; and limitations of real estate.
SECTION 1. No person beneficially interested in a trust for the receipt of the rents and profits of lands can dispose of such interest, unless the right to make disposition thereof is conferred by the instrument creating such trust; but the interest of every person for whose benefit a trust for the payment of a sum in gross is created, is assignable.
SEC. 2. When a conveyance for a valuable consideration is made to one person and the consideration therefor is paid by another, no use or trust shall result in favor of the latter; but the title shall vest in the former, subject to the provisions of the next two sections.