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New York, Aug. 8, 1851. Cyrus Little, Esg.

Please deliver to Joseph Mason, the parcel belonging to

Bronson, Milman & Co.

New York, Dec. 1,1851. Warren Alison, Esg.

Please deliver 10 Andrew Potter, such goods as he may select

, to the amcunt of Eightysix dillars, and charge the same to

Bronson, Ailman & Co.

RECEIPTS.

New York, June 15, 1851. Received from Jacob Twist, One hundred and seventeen dollars, being the annual interest due on the within bond.

Bronson, Milman & Co.

New York, Jan. 3,1851. Received of Henry Davis, One hundred and thirty-six dollars.

Bunson, Milman, £ Co.

on account,

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15 Doz. Palmer's Practical Book-keeping y Business Transactions at 6,00

-$90.00 Blank Books of Original Entry at 2.40..

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Blank Ledgers al 240.

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Introduction to "Practical Book-keeping g Business Transactions" at 3.0...60,00
Blank Exercise Books for the "Introduction" at 2.16

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Received Payment,

Biatt, Woodford f Co.

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Date.

Parties.

This Indentare, made the twenty-fourth day of March, one thousand eight hundred and fifty-one, between John Smith and Mary his wife, of the City and State of New-York, of the first part, and William Hunt, of Poughkeepsie, Dutchess County, Attorney at Law, of the second part:

:

Witnesseth, that the said parties of the first Conside- part, for and in consideration of the sum of two!

thousand dollars, lawful money of the United States, to them in hand paid by the said party of

the second part, at or before the ensealing and deReceipt.

livery of these presents, the receipt whereof is hereby acknowledged, and the said party of the second part, his heirs, executors, and administrators, for ever released and discharged from the same, by these presents have granted, bargained, sold, aliened, remised, released, conveyed, and

ration.

Transfer.

Deed.

Power of

the

58. A Deed is an instrument in writing,

sealed and delivered, for the transfer of property. Delivery. Delivery is essential ; if not delivered, no interest

passes. It may sometimes be left with a third party, to be delivered upon certain conditions; a deed is then said to be left in escrow.

The parties to a deed must be competent to

contract; thus, the grantor should not be an inpartics. fant, nor the grantee an alien.

59. Land is the most stable kind of property, and transfers of land are made with great care and formality.

The most absolute interest in land is the fee high est Inter simple ; fee simple is the absolute ownership in

land, subject only to the liability of escheat to the State.

Land shall escheat, or revert, to the State when

Land and

its Transfer.

est in land.

Escheat,

tion of Property

of Prop

erty.

confirmed, and, by these presents do grant, bargain, seil, alien, remise, release, convey, and confirm unto the said party of the second part, and to his heirs and assigns forever, all that certain

Descriplot, piece or parcel of land, situate, lying, and being in the Fourteenth Ward of the City of NewYork, on the Easterly side of Elizabeth street, distant one hundred and ten feet Northerly from Walker street, and bounded and described as fol- Location lows: Westerly in front by Elizabeth street; Southerly by land of John Jones and Samuel Waters; Easterly by land now or late of James Benson, and Northerly by land of Benjamin Watkins; being twenty-five feet in front and rear, and one hundred feet long on each side, Together with all and singular, the tenements, hereditaments and appurtenances thereunto belonging, or in any wise appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof. And also all the estate, right, title, interest, dower, and right of duwer property,

Heirs.

there are no heirs living of the person last seized, unless the same has been disposed of by Will; such a disposition is called devise.

Heirs are persons to whom the statute directs that property in land shall descend. They are, 1. Lineal descendants; 2. Father; 3. Mother; 4. The Collateral relatives.

Lineal descendants of a person are those who descned directly from the person named. Col. lateral relatives are those who have descended from the same person or persons with the person named.

60. Land owned in fee simple may be conveyed, and a title given, as perfect as it is possible in law Warran: to pass by one instrument, by a deed, called a full covenant, Warranty Deed like the one above.

. А surren

der.

session.

full possession, claim, and demand whatsoever, as

well in law as in equity, of the said parties of the first part, of, in and to the same, and every part and parcel thereof, with the appurtenances : Co

have and to hold the above granted, bargained, Full pos- and described premises, with the appurtenances,

unto the said party of the second part, his heirs and assigns, to his and their own proper use, benefit, and behoof forever. And the said John Smith, for himself, his heirs, executors, and administrators, doth covenant, grant, and agree to

and with the said party of the second part, his Covenant of heirs and assigns, that the said John Smith, at

the time of the sealing and delivery of these presents, is lawfully seized, in his own right, of a good, absolute and inde feasible estate of inheritance, in

fee simple, of, and in, all and singular the above nanote of granted and described premises, with the appurright to tenances thereunto belonging, and hath good right,

full power, and lawful authority to grant, bargain, sell, and convey the same in manner afore.

seizin.

Cove

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Consideration.

61. The word indenture, in the above deed, is Indent- taken from the ancient custom of cutting the in

strument in such a manner that a corresponding part would exactly fit the part indented, but, in present usage, it means nothing more than written instrument.

Every valid deed requires some consideration for its execution : it may be affection, friendship,

: or a small sum, yet it requires something: it is usual, therefore, when there is no other money consideration, to insert the sum of one dollar, which is definite and sufficient. The deed itself is a full receipt for the consideration which it expresses.

62. “Granted, bargained,” etc. These words bargain,

imply alienation, and they are used to render the

Grant,

etc.

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