cause the property is held by way of mortgage, or in trust only, the guardian or committee, executing the conveyance, must report the conveyance to the court, under oath. 2 R. S., 176 and 177 (2 Edm. 203); L. 1864, ch. 417, 22 6 and 7 (6 Edm. 292), and L. 1874, ch. 446, 22 10 and 11 (9 Edm. 931). Pattell v. Torrey, 65 N. Y. 294; Matter of Hazzard, 9 Paige, 365; O'Reilly v. King, 2 Rob. 587; 28 How. 408. 2357. Certain sales, etc. prohibited. Real property, or an interest in real property, shall not be sold, leased, or mortgaged, as prescribed in this title, contrary to the provisions of a will, by which it was devised, or of a conveyance or other instrument, by which it was transferred, to the infant or incompetent person. Id., R. S., and Laws as above. Rogers v. Dill, 6 Hill, 415; Baker v. Lorillard, 4 N. Y. 257; Muller v. Struppman, 6 Abb. N. C.343; Forman v. Marsh, 11 N. Y. 544; Wood v. Mather, 38 Barb. 473. § 2358. Effect of conveyance, etc.- A deed, mortgage, or lease, made in good faith, as prescribed in this title, either upon an application in behalf of an infant or an incompetent person, or pursuant to the directions contained in a judgment rendered against him, has the same validity and effect, as if it was executed by the person, in whose behalf it was executed, and as if the infant was of full age, or the lunatic, idiot, or habitual drunkard was of sound mind, and competent to manage his affairs. .2 R. S. 55, 21 (2 Edm. 56); 8 of L. 1864; 8 12 and 25, L. 1874 (9 Edm. 931, 933); 2 Ř. S. 194 and 195, 22 168, 178. Matter of Turner, 10 Barb. 552, 555; Wood v. Mather, 38 id. 473, 480 Rogers v. Dill, 6 Hill, 415; Matter of Whitlock, 32 Barb. 48; s. c., 19 How. 380; 10 Abb. 316; Matter of Bookhout, 21 Barb. 348; Baker v. Lorillard, 4 N. Y. 257; Clark v. Underwood, 17 Barb. 202; Davison v. Defreest, 3 Sandf. Ch. 456; see Forman v. Marsh, 11 N. Y. 544; 0. 0., 7 Barb. 215, and Shumway v. Cooper, 16 id. 556. § 2359. Proceeds of sale deemed real property.A sale of real property, or of an interest in real prop erty, of an infant or incompetent person, made as prescribed in this title, does not give to the infant or incompetent person, any other or greater interest in the proceeds of the sale, than he had in the property or interest sold. Those proceeds are deemed property of the same nature, as the estate or interest sold, until the infant arrives at full age, or the incompetency is removed. 2 R. S. 195, 180; L. 1864, ch. 417, 10, and L. 1874, ch. 446, § 14 (9 Edm. 932). Forman v. Marsh, 11 N. Y. 544, 548; s. c., 7 Barb. 215; Davison v. Detreest, 3 Sandf. Ch. 456, 464; Shumway v. Cooper, 16 Barb. 556; Matter of Thomas, 1 Hun, 473; Cutting v. Lincoln, 9 Abb. N. S. 436. 2360. Infant deemed a ward of court. From the time of the filing of a petition, by or in behalf of an infant, praying for an order directing a conveyance, or a sale, mortgage, or lease of his real property, or of an interest in real property, the infant is considered a ward of the court, with respect to that real property or interest, and the income and proceeds thereof. 2 R. S. 195, § 179 (2 Edm. 203). In re Price, 67 N. Y. 231; People v. Erbert, 17 Abb. 395. § 2361. Disposition of proceeds; accounting.— The court must, by order, direct the disposition of the pro ceeds of such a sale, mortgage, or lease. It must direct the investment of any portion thereof belonging to the infant or incompetent person, which is not needed for the payment of debts, or the safe keeping, or the immediate maintenance and education, of himself or his family, or for the preservation or improvement of his real property or his interest in real property. It must require a report, under oath, of the disposition and investment thereof, to be made as soon as practicable, and must compel periodical accounts to be rendered thereafter, by each person, who is intrusted with the, proceeds, or any part thereof. See Laws 1890, ch. 237; L. 1864, ch. 417, 22 and 9 (6 Edm. 291); L. 1874, ch. 446, 27, 13 and 20 (9 Edm. 930-933). Forman v. Marsh, 11 N. Y. 551; Davison v. Defreest, 3 Sandf. Ch. 456; Bowman v. Tallman, 27 How. 213; Matter of Carter, 3 Paige, 146; Matter of Seaman, 2 id. 409; Matter of Bostwick, 4 Johns. Ch. 100; Swartout v. Oaks, 52 Barb. 622. § 2362. Particular estates; when included in sale.— Where the real property, or the estate, term, or other interest in real property, directed to be sold, is subject, absolutely or contingently, to a right of dower, or an estate for life, or is subject to an estate for years, in the whole or any part thereof, the person, having the prior right or estate, may manifest in writing his consent, either to receive, from the proceeds of the sale, a gross sum, to be fixed according to the principles of law applicable to annuities, in satisfaction of his right or estate; or to have a proportionate share of the proceeds of the sale invested, and the interest thereof paid to him, from the time of the investment, or of the commencement of his right or estate, as justice requires, until the determination of his right or estate. Upon filing the consent with the clerk, the final order may in the discretion of the court, direct a sale of the entire property, to which the right or estate attaches. In such a case, the court must, after the sale, ascertain the value of the right or interest of the person so consenting; and the final order must either direct the payment, from the proceeds of the sale, of the gross sum so ascertained as the value, or the investment of a just proportion of the proceeds, and the payment to him of the interest thereof. Bnt such a gross sum shall not be paid, nor shall such an investment be made, until an effectual release of the right or estate of the person so consenting, executed to the satisfaction of the court, and duly acknowledged or proved, and certified, in like manner as a deed to be recorded in the county, has been filed with the clerk. 2 R. S. 196, 181, 182 (2 Edm. 204); L. 1864, ch. 417 (6 Edm. 292, 293); L. 1874, ch. 446, 22 13, 15, 16 (9 Edm. 932). § 2363. Id.; when belonging to infant, etc.- Where the interest of the infant, or of the lunatic or other incompetent person, consists of a right of dower, or an estate for life, or for years, the final order may authorize the special guardian or committee to join, with the person or persons holding the reversionary estate, in a conveyance of the property to which the interest attaches, so as to release the right of dower, or fully convey the particular estate, on receiving, from the proceeds of the sale, a gross sum, in satisfaction of that interest, or a proportionate part of the proceeds, to be invested until the determination of the particular estate; and, in either case, to be ascertained as prescribed in the last section. Where a proportion of the proceeds is so received by the guardian or committee, for investment, the final order must provide for the investment thereof, until the determination of the particular estate; and then for the payment thereof to the person entitled thereto. New. 2364. Debts of infant, etc., to be paid equally.In the application of money, arising from a sale, mortgage, or lease, made for the purpose of paying debts, as prescribed in this title, the special guardian of the infant, or the committee of the property of the incom petent person, must pay all debts, in equal proportion, without giving a preference to a debt founded upon a specialty, or upon which judgment has been taken. 2 R. S. 54, 15 (2 Edm. 55); L. 1874, ch. 446, 21 (9 Edm. 938). TITLE VIII. Arbitrations. SEO. 2365. When submission to arbitration cannot be made. 2366. What controversies may be submitted, and how. 2367. Appointment of additional arbitrator, or umpire. 2368. Time for hearing; adjournment, etc. 2369. Arbitrators to be sworn. 2370. Attendance of witnesses, etc. Fees. 2372. Award; to be authenticated, etc. 2374. Id.; to vacate award. 2375. Id.; to modify or correct award. 2376. Motions; when to be made.. 2377. Costs on vacating award. when majority may award 2378. Judgment on award; when and how entered. Costs. 2380. Effect of judgment; how enforced. 2381. Appeal. 2382. Effect of party's death, lunacy, etc.; proceedings thereupon 2383. Revocation of snomission. 2384. Liability of party who revokes. 2385. Limitation of recovery against him. 2386. Application of this title. § 2365. When submission to arbitration cannot be made. A submission of a controversy to arbitration cannot be made, either as prescribed in this title or otherwise, in either of the following cases: 1. Where one of the parties to the controversy is an infant, or a person incompetent to manage his affairs, by reason of lunacy, idiocy, or habitual drunkenness. 2. Where the controversy arises respecting a claim to an estate in real property, in fee or for life. But where a person, capable of entering into a submission, has knowingly entered into the same with a person incapable of so doing, as prescribed in subdivision first of this section, the objection, on the ground of incapacity, can be taken only in behalf of the person so incapacitated. And the second subdivision of this section does not prevent the submission of a claim to an estate for years, or other interest for a term of years, or for one year or less, in real property; or of a controversy respecting the partition of real property between joint tenants or tenants in common; or of a controversy respecting the boundaries of lands, or the admeasurement of dower. 2 R. S. 541, 2 1 and 2 (2 Edm. 560). Brady r. Mayor, etc., of Brooklyn, 1 Barb. 584; Weed v. Ellis, 3 Caines, 254; Isaacs . Beth Hamedash Society, 1 Hilt. 469; Palmer v. Davis, 28 N. Y. 242; Harrington_v. Higham, 13 Barb. 660; McBride v. Hagan, 1 Wend. 326; Smith v. Van Nostrand, 5 Hill, 419; Lowenstein v. McIntosh, 37 Barb. 251; Smith v. Sweeney, 35 N. Y. 291; Diedrick v. Richley, 2 Hill, 27; Keep v. Keep, 17 Hun, 152; Olcott v. Wood, 14 N. Y. 32; s. c., 15 Barb. 644; see Wiles v. Peck, 26 N. Y. 42; Butler v. New York, 7 Hill, 329; Wood v. Tunnicliff, 74 N. Y. 38; Bulson v. Lohnes, 29 id. 291; Pollock v. Webster, 16 Hun, 104; Wood v. Tunnicliff, 74 N. Y. 38; Locke v. Filley, 14 Hun, 139. § 2366. What controversies may be submitted, and how. Except as otherwise prescribed in the last section, two or more persons may, by an instrument in writing, duly acknowledged or proved, and certified, in like manner as a deed to be recorded, submit to the arbitration of one or more arbitrators, any controversy, existing between them at the time of the submission, which might be the subject of an action. They may, in the submission, agree that a judgment of a court of record, specified in the instrument, shall be rendered upon the award, made pursuant to the submission. If the supreme court is thus specified, the submission may also specify the county in which the judgment shall be entered. If it does not, the judgment may be entered in any county. Id., part of 1 and 29. Pratt v. Hackett, 6 Johns. 14; Ex parte Vasques, 5 Cow. 29; see Diedrick v. Richley, 2 Hill, 271; Wells v. Lane, 15 Wend. 99; Valentine v. Valentine, 2 Barb. Ch. 430; Bloomer v. Sherman, 2 Edw. Ch. 452; s. c., 5 Paige, 575; see Brady v. Brooklyn, 1 Barb. 584; Howard v. Sexton, 1 Den. 440; s. c., 4 N. Y. 157; Jones v. Cuyler, 16 Barb. 576; Amsterdam v. Vanderveer, 4 Den. 249; Cape v. Gilbert, id. 347; People v. Townsend, 5 How. 315; French v. New, 28 N. Y. 147; Howard v. Sexton, 4 id. 157. § 2367. Appointment of additional arbitrator, or umpire. Where a submission is made as prescribed in this title, an additional arbitrator or an umpire cannot be selected or appointed, unless the submission ex. pressly so provides. Where a submission, made either as prescribed in this title or otherwise, provides that two or more arbitrators, therein designated, may select or appoint a person as an additional arbitrator or as an umpire, the selection or appointment must be in writ |