23 Abb. N. C. 15. §§ 2353-2356 ceedings, who must thereupon file with the clerk a bond as prescribed in the last section. Any trust e mpany author ized by the laws of this State to act as general guardian of estate of an infant without giving security may be appointed! such special guardian and in such case the court in the order of appointment may dispense with the giving and filing of any such bonds. § 2353. Upon a breach of the condition of a bond, given as prescribed in either of the last two sections, the court must direct it to be prosecuted for the benefit of the person injured. § 2354. [Am'd 1893] Upon the presentation of the petition, and the filing of the bond, where the filing such a bond shall be necessary, the court must make an or ler appointing a suitable person a referee to inquire into the merits of the application. The referee must examine into the truth of the allegations of the petition; hear the allegations and proofs of all persons interested in the property, or otherwise interested in the application; a d report his opinion thereupon, together with the testimony with all convenient speed. § 2355. [Am'd 1893.] Upon the filing of the referee's report, and after examining into the matter, the court must make a final order upon the application. In a proper case a final order, confirming the referee's report, must direct that the real property or term, estate or other interestin real property, or a part thereof or an inchoate right of dower therein, as is necessary, or as justice requires, the mortgage, let for a term of years, sold, released, or conveyed by the special guardian appointed, as prescribed in this title, or by the committee of the property of the lunatic or other incom petent person. The final order must also contain such directions respecting the time, manner and conditions of the sale, release or conveyance directed thereby as the court thinks proper to insert therein. § 2356. [Am'd 1893 ] Before a sale, mortgage, release, or lease can be made pursuant to the final order, the special guardian or the committee must enter into an agreement therefor, subject to the approval of the court; and must report the agreement to the court under oath. Upon the con firmation thereof by the order of the court, he must execute, as directed by the court, a deed, mortgage, release or lease. Where the final order directs the execution of a conveyance in the first instance, for the purpose of fulfilling a contract, or because the property is held by way of mortgage, or in trust only, the guardian or committee, exe. 2357-2359 ing the conveyance must report the conveyance to the ourt, under oath. § 2357. Real property, or an interest in real property, all not be sold, leased, or mortgaged, as prescribed in is title, contrary to the provisions of a will, by which was devised, or of a conveyance or other instrument, by hich it was transferred, to the infant or incompetent erson. $ 2358. [Am'd 1893.] A deed, mortgage, release of an choate right of dower, or lease made, in good faith, as escribed in this title either upon an application in bealf of the infant or an incompetent person, or pursuant to e directions contained in a judgment rendered against m, has the same validity and effect, as if executed by the rson, in whose behalf it was executed, and as if the infant as of full age or the lunatic, idiot, or habitual drunkard as of sound mind and competent to manage his or her fair; and a release of an inchoate right of dower as authored by this title shall have the same effect as if the wife alj ined with the husband in a deed or conveyance of the roperty affected thereby and had duly acknowledged the ame in the manner required by law to pa-s the estate of married women. $ 2359. [Am'd 1892.] A sale of real property or of an terest in real property of an infant or incompetent peron, made as prescribed in this title, does not give to the fant or incompetent person any other or greater interest a the proceeds of the sale than he or she had in the. roperty or interest sold. Those proceeds are deemed property of the same nature as the est te or interest sold, ntil the infant arrives at full age or the incompetency is emoved. If the infant should die before arriving at full ge, or the incompetent person should die before the incomDetency is removed not leaving any personal property or ot leaving sufficient personal property to pay funeral exDenses and expenses that may be necessary or nece sarily ncurred, then in either or each case the proceeds are to be deemed personal property so far as may be necessary to Day the funeral and other necessary expenses. The proeeds are to be paid upon order of the surrogate's court or Court having jurisdiction of the estate of deceased, to an dministrator appointed by the surrogate to administer pon decedent's estate, and after paying all funeral expenses and expenses of administration and any indebtedmess, the remainder, if any there be, shall upon the order of the surrogate, be paid into the hands of the trustee who held the same to be distributed as the law direc ́s. This act s to include the said proceeds of any infant or incompetent person that has died prior to this amendment, the proceeds now remaining in the hands of a trustee. 140 N. Y. 162 $2360 From the time of the filing of a petition, by or in behalf of an infant, praying for a 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 prop erty or interest, and the income and proceeds thereof. § 2361. [Am'd 1890, 1893.] The court must, by order, direct the disposition of the proceeds 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 safekeeping 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 male as soon as practicable, and must compel periodical accounts to be rendered thereafter, by such person, who is intrusted with the proceeds, or any part thereof. Where an inchoate right of dower is released as prescribed in this title, the court shall make an order requiring one-third of the amount realized on the sale of the property to which the inchoate right of dower attached to be invested by the special guardian, or paid into the court to be held for the benefit of the husband during his life and upon his death for the benefit of the wife during her life, or the court may direct said amount to be paid to the husband upon his giving a bond in the penalty of at least double the amount so received for such release with at least two sureties who shall justify in double the amount of such penalty, conditioned for the repayment as the court shall direct by his executors or administrators of such amount upon the death of the husband. § 2362. 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 an nuities, in satisfaction of his right or estate; or to have 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. But 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. § 2363. 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. 2364. 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 incompetent 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. 26 Hun, 447. 65 N. Y. 242. 137 N.Y.290. § 2382. Effect of party's death, 2383. Revocation of submission. § 2384. Liability of party who revokes. 2385. Limitation of recovery against him, 2386. Application of this title. § 2365. 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 submis sion, 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. § 2366. 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 pur suant 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. § 2367. Where a submission is made as prescribed in this title, an additional arbitrator or an umpire cannot be selected or appointed, unless the submission expressly 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 writing. An additional arbitrator or umpire must sit with the original arbitrators, upon the hearing. If testimony has been taken before his selection or appointment, the matter must be reheard, unless a rehearing is waived in the submission, or by the subsequent written consent of the parties, or their attorneys. § 2368. Subject to the terms of the submission, if any are specified therein, the arbitrators, selected as prescribed |