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New York, Aug. 8, 1851.

Cyrus Little, Esq.

Please deliver to Joseph Mason, the parcel·

belonging to

Bronson, Milman & Co.

New York, Dec. 1, 1851.

Warren Alison, Esq.

Please deliver 10 Andrew Potter, such may select, to the amount of Eighty

goods as

he

six dellars, and charge the same to

Bronson, Milman & 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, on account,

One hundred and thirty-six dollars.

Bunson, Milman, & Co.

Warren O. Williams,

New York, Nov. 15, 1851.

Bought of Pratt, Woodford & Co.

15 Dox. Palmer's Practical Book-keeping & Business Transactions at 6.00.

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Blank Books of Original Entry

at 2.40.

Blank Ledgers at 240.

--$90.00 36.00 ..36,00

Introduction to "Practical Book-keeping & Business Transactions
Business Transactions" at 3.00..60.00
Blank Exercise Books for the "Introduction" at 2.16

43.20 $265.20

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Analysis.

Date.

Parties.

ration.

Deed.

This Indenture, 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 delivery 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

Receipt.

Transfer.

Deed.

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.

Power of the

The parties to a deed must be competent to contract; thus, the grantor should not be an inparties. fant, nor the grantee an alien.

Land and its

Transfer.

The high

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 est Inter simple; fee simple is the absolute ownership in land. land, subject only to the liability of escheat to the

est in

State.

Escheat. Land shall escheat, or revert, to the State when

Descrip

Property

of Property.

confirmed, and, by these presents do graut, bargain, sell, alien, remise, release, convey, and confirm unto the said party of the second part, and to his heirs and assigns forever, All that certain lot, piece or parcel of land, situate, lying, and be- tion of ing 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 dower property,

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. Collateral relatives are those who have descended from the same person or persons with the person named.

Heirs.

ty Deed.

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.

A

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: To 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 nant 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 indefeasible estate of inheritance, in fee simple, of, and in, all and singular the above Cove 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

Cove

seizin.

convey.

ure.

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

Consideration.

Grant, bargain,

etc.

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 imply alienation, and they are used to render the

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