FREE BOOKS

Author's List




PREV.   NEXT  
|<   193   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217  
218   219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   234   235   >>  
ppily, debts have come to light so large and numerous that there is not property enough to pay all the creditors everything that is due them. The executor says to the carpenter: "There is not property enough to pay all of the creditors and you, unfortunately, must fare like all of the rest, and you cannot be paid a larger percentage on your share than the others." To the carpenter this would be unwelcome news, and he would doubtless say to the executor: "I made this contract with you expecting that you would pay me, and if the property of the estate is not sufficient you ought to pay me this. I am a poor man and cannot afford to lose any of my hard-earned money." The executor might say to him: "I am as poor as you and I cannot afford to pay you out of my own pocket, and in law you cannot compel me to do this." And, in truth, the carpenter could not do this unless the executor had made a contract in writing, agreeing in any event to pay whether there was money enough belonging to the estate or not. Another clause says that _a person cannot be required to pay the debt of another unless the agreement is in writing_. If A went into a store to buy goods and B should be a little afraid to trust him, and C, a friend of A's, should happen to be present and say to the merchant, "Let A have these goods and if he does not pay you I will," this would be the promise to pay the debt of another; and if A should not pay it C could shield himself behind this statute and escape without paying anything. There is another clause relating to the sale of ordinary merchandise. The law says that _contracts for ordinary merchandise must be in writing if the amount is over_ $50. In some States the amount is $35. Long ago it was decided that this statute did not relate to contracts for work, and they therefore must be carried out or fulfilled in the same manner as though no statute existed, _for work is not merchandise_. VIII. CONTRACTS FOR THE SALE OF MERCHANDISE To make a contract of sale there must be, as we have seen, two or more parties, and a consideration must also be given. The sale is complete when the _property_, or _title_, or _ownership_ in the thing bought passes from the seller to the buyer. It is not necessary in order to make a valid sale to deliver the thing bought. If the _title_ or _ownership_ in the thing is not transferred, the sale still remains incomplete. The law supposes or assumes that a person will always pa
PREV.   NEXT  
|<   193   194   195   196   197   198   199   200   201   202   203   204   205   206   207   208   209   210   211   212   213   214   215   216   217  
218   219   220   221   222   223   224   225   226   227   228   229   230   231   232   233   234   235   >>  



Top keywords:

executor

 
property
 

statute

 
contract
 

writing

 

merchandise

 

carpenter

 

afford

 

clause

 

contracts


amount

 

ordinary

 
person
 

bought

 

estate

 

creditors

 
ownership
 

deliver

 
decided
 

relate


assumes
 

supposes

 

relating

 

incomplete

 

remains

 

transferred

 

States

 

consideration

 

parties

 

paying


MERCHANDISE

 

complete

 

CONTRACTS

 
passes
 
fulfilled
 

carried

 

seller

 
manner
 

existed

 

required


unwelcome

 

doubtless

 

earned

 

expecting

 

sufficient

 
percentage
 

larger

 
numerous
 

happen

 

present