in which action, by the provisions of the act to abolish imprison ment for debt, and to punish fraudulent debtors, he cannot be ar rested or imprisoned, did present a petition to me, praying that his property might be assigned, and that he might have the benefit of the said act; which petition contained an account of his creditors, and an inventory of his estate, verified by an affidavit thereunto annexed, subscribed by him, and duly sworn to before me. He also produced satisfactory proof that a copy of the said petition, account and inventory, had been served on the creditors in the said petition named, with notice of the time and place of presenting the same to me, as required by law; and I being satisfied, on hearing the petition, that the proceedings on the part of the petitioner were just and fair, and that he had conformed to the provisions of the said act, ordered that the said petitioner make an assignment of all his property, except such articles as are by law exempt from execution, to M. P., of, &c., the assignee appointed by me; and the said petitioner having made such assignment, and produced evidence that the assignment so made was recorded in the office of the cierk of this county, and also produced a certificate of the assignee that the property of the petitioner, specified in his inventory, had been delivered to the said assignee. Now, therefore, know ye, that by virtue of the power and authority in me vested, and in pursuance of the provisions of the said act, I do grant this dis charge to exonerate the said petitioner from being proceeded against by any creditor entitled to a dividend of his estate. Given under my hand and seal, the day of Band eight hundred and

one thou.

C. P. D., Judge of, &c

Affidavit

OF PERSONS APPLYING FOR THE APPOINTMENT OF TRUSTEES FOR ESTATE OF DEBTOR CONFINED FOR CRIME (TO ACCOMPANY THE COPY OF THE SENTENCE AND CERTIFICATE OF THE CLERK).

A. B., of said county, being duly sworn, says, That C. D., the per. son named in the annexed [or, within] copy of sentence of convic tion, is now actually imprisoned in the State prison at [or, in the penitentiary of, &c.; or, in the county jail of the county of in the State of New-York, under, and in pursuance of the said sentence of conviction; and that the said C. D. 18 indebted to this deponent, [or, to L. M., of, &c.] in the sum of dollars, on account, [or, as the case may be,] for goods, wares and merchandise, sold and delivered to the said C. D., by this deponent. [or, by the sail L. M.;] and this deponent therefore makes application for the

appointment of trustees of the estate of the said C. D., according to the statute.

Sworn, &c. [as in Affidavit of Kesidence of Petitioner.]

A. B

Appointment of Trustees, on the Foregoing Application. By the Hon. D. P., one of the Justices of the Supreme Court of the State of New-York; [or, as the case may be]. Whereas A. B., a creditor [or, a relative] of C. D., [or, a relative of M. D., wife of C. D.,] a debtor confined for crime, did, on the day of last past, [or, instant,] make application to me for the appointment of Trustees to take charge of the estate of the said C. D.; and did also produce a copy of the sentence of conviction of the said C. D., duly certified by P. V., Esq., clerk of the court of [specify the court before which the conviction was had,] under his seal of office, by which said court of the said sentence of conviction was passed; together with an affidavit of the said A. B., that the said C. D. is actually imprisoned under the said sentence, and is indebted to the said A. B., or, to L. M.,] of, &c., in the sum of dollars. Now,

therefore, I, the said Justice as aforesaid, do, in pursuance of the authority to me given by the statute concerning "Attachments against debtors confined for crimes," appoint M. N. and O. P., two fit persons to be Trustees of the estate of the said C. D., with such powers concerning the estate of the said C. D. as are conferred by

the said statute.

Given under my hand and seal, this

Oath of Trustees of the Estates of Debtors.

WE, M. N. and O. P., appointed Trustees of the estate of C. D., a debtor confined for crime, [or, as the case may be,] do swear, and each for himself doth swear, that he will well and truly execute the trust by his appointment reposed in him, according to the best of his skill and understanding.

Sworn, &c, [as in Affidavit of Residence of Petitioner.]

M. N.
O. P.

NOTES AND BILLS OF EXCHANGE.

THE party who makes or signs a note is called the drawer; the party who endorses it, the endorser; the party to whom it is made

payable, the payee; the party holding it at the time of its ma turity, the holder.

The words "value received," though usually inserted, are not legally indispensable, as value is implied in every note, bill, acceptance, and endorsement.

In the States of Pennsylvania and New-Jersey, the words, 'without defalcation or discount," must be inserted after the words, *for value received." In Missouri, the words, "negotiable and payable, without defalcation or discount," must be added to the words, "for value received."

Notes bear interest only when it is so stated; but, after maturity, all notes bear legal interest. When a note is payable on demand, interest can alone be charged after the demand has been made. When it is improbable that a note payable on demand will be paid when due, it should be made payable one day after date, with interest.

The holder of a note made payable to order, may sue in his own

name.

A note made payable to John Smith, or bearer, need not be endorsed. Its delivery is a sufficient guarantee of title. If the holder's title to it is questioned by the drawer, he has only to show in court that he obtained it for a fair consideration. If negotiated, or made use of, after maturity, it is subject to any set-off the drawer may have against the payee.

A promissory note given by a minor, even for necessaries, is void.

If a note is made payable to a firm, the signatures of the firm is a sufficient endorsement. But if it be made payable to two or more persons not co-partners, it is not negotiable withcut the endorsement of each.

No note is payable till the third day after the day expressed for its payment. These three days are called "days of grace," and if payment is not made, no suit can be begun till they have ex pired. Notes payable on demand" are not entitled to grace. An endorsed note, payable on demand, must be presented within reasonable time-say within three months.

A person becoming surety on a note, is liable as an endorser

An endorser may waive demand and notice of a noto before its maturity, without any consideration for such notice.

When a note falls due on Sunday, or on any leading holiday when general business is suspended-Fourth of July, Thanksgiving, Christmas, or New Year's, for instance-demand for its payment must be made on Saturday, or the day preceding the holiday The demand must be made at the place of business of the maker within business hours, or at the specified place of payment should he have no place of business then at his dwelling-house When the maker has absconded, no notice is necessary.

The endorser of an accommodation note is a surety for the maker, and is liable for the costs of collection brought against such maker or endorser.

If the payee of a note wishes to pay it away to another without being responsible for its payment, he may endorse it with the following words: "Pay to John Smith, without recourse upon me;" or, "Pay to John Smith, at his risk:" or, "Pay to John Smith, without recourse."

If a party takes a note after it is due, he takes it at his own risk, as it is then subject to every defence against its payment that the drawer or endorsers had against it before it was negotiated.

Any promise to pay, without specifying the time of payment, is equal in law to a promise to pay on demand.

A note promising to pay, "so soon as circumstances will per mit." is not a promissory note.

A paper is of no value where the acceptor draws it up and then writes across it his acceptance, leaving a blank for the drawer to sign his name. Such a paper is neither a bill, note, order, or security for the payment of money.

In many States, the making of a promissory note on Sunday ren ders it worthless.

The altering of a note, in any manner, by the holder, makes it void A note written thus: "I, Henry Mansfield, promise to pay John Jenkins, or order, one hundred dollars, value received," is good without further signing. Such notes, however, being different from the customary forms, would be deemed imperfect, by men general. ly, and would be found difficult to negotiate.

A note like the following is not a promissory note:

"Two years from date, for value received, I promise to pay A B., or bearer, one hundred dollars with use. Said A. B. agrees that it I pay him fifty dollars en or before the first day of January 1860, it shall cancel this note."

Demand of payment for a note must be made of the maker the day when it is lue; if not paid, notice must immediately be given to the endorsers; otherwise they will be released of their liability If the note be made payable at a bank or other place, demand must be made at the place where it is made payable. If paymen is refused, Lotice to that effect must be served without dolay upon the maker and each of the endorsers. This notice may be given by any person competent to serve it, but Notaries Public are usually employed for that purpose. When payment of a note is refused, it is called dishonored. No particular form of words is necessary in a notice; all that is requisite is to apprise the party or parties of the fact that the note has been dishonored. The usual form of a notice of protest will be found below.

Notice by mail to an endorser, residing at a distance from the bank or place where the note is payable, is sufficient to hold him for its payment, in case the notice be sent on the last day of grace—that is, the day on which the note was dishonored.

The same laws that apply to notes, apply also to bills of ex change.

$100.

Note with Surety.

NEW-YORK, April 12, 1860. Six months after date, I promise to pay John Jones, or order ne hundred dollars, value received.

WM. JENKINS. J. G. WELLS, Surety.

An Unnegotiable Note.

NEW-YORK, April 10, 1860.

81000. THREE months after date, I promise to pay John Jones one thou sand dollars, for value received.

$1000.

ADAM CLARK E.

A Negotiable Note.

NEW-YORK, April 19, 1860.

THREE months after date, I promise to pay John Jones, or order one thousand dollars, for value received. ADAM CLARKE