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parcel thereof, unto them the said Halstead and Pendon, their executors, administrators, and assigns forever.
In witness whereof, I have hereunto set my hand and seal this 17th day of April, one thousand eight hundred and fifty-one.
This Indenture witnesseth, that William
Jones, now aged fifteen years, by and with the Parties. consent of his mother, Martha Jones, hath volun
tarily, and of his own free will and accord, put and bound himself apprentice unto Jackson Hyer, of the City of New-York, jeweller, to learn the
or his own fears seem to demand it. The assignment is not generally of any particular advantage to the assignor, except to show that he has honestly given up all his property to his creditors, he being still liable to them for the balance if there is any; but there is a method of procedure in which the assignment entirely frees the debtor from such balance for ever; and although insolvent, he really begins the world of business again unincumbered. This provision is called the “ Two-Third Act,” taking its name from the condition, that two-thirds of the creditors or those to whom two-thirds of the debts are due, shall join with him in a petition for a discharge. The unfortunate are thus enabled to continue business, notwithstanding the opposition of a few inexorable creditors.
art, trade, and mystery of the business of working and manufacturing the precious metals, and as an apprentice to serve from this date for and during, and until the full end and term of six years next ensuing, during all of which time the said apprentice his master faithfully, honestly, and industriously shall serve, his secrets keep, all lawful commands every where readily obey, and at all times protect and preserve the goods and property of his said master, and not suffer or allow any to be injured or wasted: he shall not buy, sell, or traffic with his own goods, or the goods of others, nor be absent from his said master's service day nor night without leave, and in all things behave himself as a faithful apprentice ought to do during the said term: And the said master shall use and employ the utmost of his endeavors to teach or cause him the said apprentice to be taught or instructed in the art, trade, and mystery aforesaid.
And for the true performance of all and sin
113. Articles of Apprenticeship, in New York, Apprein
ticeship. and in several other States, can be executed by minors who may bind themselves by their own free will, with the consent either of their parents, guardians, the overseers of the poor, two justices or a judge, to a term of service as clerk, apprentice or servant, limited to the period of their minority. Such consent should be signified in writing upon the back of the indenture, or by certificate at its close by the person
entitled to execute the same.
The County Superintendent of the Poor, in the several counties, may bind out minors who are sent to the county poor houses, or who are or shall become chargeable to such county, to be clerks, apprentices, or servants for a term limited to the period of their minority; such binding
Minors sent to
gular the covenants and agreements aforesaid, the said parties bind themselves each unto the other firmly by these presents.
In witness whereof, the parties aforesaid have hereunto set their hands and seals the first day of May, one thousand eight hundred and fifty-one.
Sealed and delivered in the pre-
shall be as effective as when it is voluntarily done Autho- by the minor himself, with the consent of his Care. guardian.
guardian. The persons to whom such minors are bound, are supposed to exercise the same authority and care over them, as would have been
allowed or required of the parent. The provisions Educa. of the Indenture often enjoin attention to the tion.
education of the apprentice.
114. Partnership is the association of two or more persons for a specified purpose, in which
they have a common interest, and assume a coinObjcct.
mon responsibility. The object to be secured is a union of capital, responsibility, and interest. Men do not always possess the means requisite to carry on their favorite employments, and when they do, there is often an unwillingness to risk all their resources in a single enterprise, with a possibility,
Articles of Copartnership.
know all men by these presents, that we, Henry West and James Strong, of the City of Buffalo, have joined, and by these presents do join themselves to be copartners together in the nership. art or trade of binding books, and all things thereto belonging, under the partnership name and style of “ West and Strong," for and during, and until the full end and term of five years from the first day of May, one thousand eight hundred and fifty-one; and to that end and purpose, he, the said West, hath, at the day of the date of these presents, delivered in as stock the sum of three thousand dollars, to be used, laid out, and expended in common between them, for the management of the said trade of book-binding, to their mutual benefit and advantage, and the said Strong has also contributed the sum of three thousand dollars at the same date for the same purposes.
And it is agreed between the said parties to
and in these times, frequent probability, of failure. The variety of a business often requires several Advanpersons to conduct its various departments successfully; and thus by partnership, the duties, risk, responsibility, and interest are divided among the partners to the greater security and success of the business. Partnerships exist among merchants, mechanics, farmers, stage proprietors, etc., and they may be limited to one, two, or more years, or subject to dissolution at the pleasure of the parties. The respective portions of the joint capital furnished by the parties, may be un- Capital. equal, and thus the profits will be unequal, unless the particular skill and attention of one or more of the parties is to be considered as an equivalent for a certain amount of capital. It sornetimes happens that a partner has nothing
these presents, and the said copartners each for himself, respectively, and for his own particular part, and for his executors and administrators, doth severally, and not jointly, covenant, promise, and agree to and with the other partner, his executors and administrators, by these presents in manner and form following, (that is to say,) That they the said copartners shall not nor will at any time hereafter during the said term of five years, separately use, exercise, or follow the trade of book-binding aforesaid, or any other trade whatsoever, during the said term, but shall and will, if they shall so long live, do their, and each of their best endeavors during said term, in and by all means possible, to the utmost of their skill, power, and cunning, for their joint interest, profit, benefit, and advantage, and truly employ the said capital stock of six thousand dollars, and the increase thereof, which shall be added thereto, in the trade of book-binding aforesaid, without any sinister intentions or fraudulent endeavors what
A copy of
of the Firm.
to contribute beside his attention, influence, and skill.
It is customary to execute Articles which shall
express the terms or conditions of the CoArtibles, partnership at the time of its formation, and each
party is entitled to a copy of the same. The Business operations of the firm should be clearly defined
and limited in the Articles of Copartnership, and when one partner transcends these limits either by purchases, drafts, or otherwise, the other partneřs are not responsible, but when such opera
tions are in the usual course of the business, the Liabili- partners are individually responsible. As a gen
eral rule, each partner is liable for all partner
ship engagements to the extent of his private or Special individual, as well as partnership property ; there ships." is, however, an arrangement called Special Part