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extend.

s. 8.

the court; and the person who shall have paid any money or reward, shall be a competent witness to prove the same. By s. 8. this act shall not extend to any annuity, &c. given by will, or by marriage settlement, or for the Cases to which advancement of a child; nor if secured upon lands of this act does not equal or greater annual value, whereof the grantor was seised in fee-simple or fee-tail, in possession at the time of the grant, or secured by the actual transfer of stock in any of the public funds, the dividends whereof are of equal or greater annual value than the annuity; nor to any voluntary annuity granted without pecuniary consideration; nor to any annuity, &c. granted by any body corporate, or under any act of parliament; nor to any annuity where the sum to be paid does not exceed £10 annually, unless there be more than one such annuity from the same grantor, to or in trust for the same perNo statute in Ireland has restrained improvident transactions of this nature, in any such manner.

son.

Interest reduced

to £5 per cent.

12 Ann. st. 2.

The rate of interest which was limited to 10 per cent. by the 37 Hen. 8. c. 9. Eng. and 13 Eliz. c. 8. Eng. and reduced to 8 per cent. by the 21 Jać. 1. c. 17. Eng. and c. 16. Eng. afterwards confined to 6 per cent. by the 12 Car. 2. c. 13. Eng. has been settled at 5 per cent. by the 12 Ann. st. 2. c. 16. Eng. which enacts, that no person shall, upon any contract, take, directly or indirectly, for loan of any monies, wares, merchandize, or commodities, above the value of £5 for the forbearance of £100 for a year, and so after that rate for a greater or a lesser sum, or for a longer or shorter time; and all bonds, contracts, and assurances, for payment of any principal or money to be lent, for covenanted to be performed, upon or for usury] whereupon or whereby there shall be reserved or taken above the rate of £5 in the £100 as aforesaid, loan" in

*

any

"covenant to be performed upon or for any

5 Geo. 9. c. 7.

per cent.

shall be utterly void. And in Ireland the rate of inte- Ir. rest which was limited to 10 per cent. by the 10 Car. 1. In Ireland 6 st. 2. c. 22. Ir. and reduced to 8 per cent. by the 2 Ann. c. 16. Ir. and to 7 per cent. by the 8 Geo. 1. c. 13. Ir. is now confined to 6 per cent. by the 5 Geo. 2. c. 7. Ir. which contains a clause corresponding to that of the 12 Ann. st. 2. c. 16. Eng. above stated. The other pro

visions

14 Geo. 3.

c. 79. s. 2.

Eng.

Mortgages, &c.

executed in Great Britain affecting lands in Ireland, &c.

may bear £6 per cent. interest.

s. 3.

s. 5.

Bills of exchange when and how pro

tested for non

payment.

9 & 10 W. 3. c. 17. Eng.

visions of these statutes will be stated in another place, with relation to the crime of usury. By the 14 Geo. 3. c. 79. s. 2. Eng. all mortgages and securities which shall be made and executed in Great Britain, of or concerning any lands, &c. or other things lying and being in Ireland, or in any of his majesty's colonies in the West Indies, or any estate or interest therein, to any of his majesty's subjects, for securing the re-payment of the money thereon bona fide advanced, with interest; and all bonds, covenants, and securities, for payment of the same sums of money, and interest, executed in Great Britain, to any of his majesty's subjects, shall be as valid as if the same were executed in the place where such lands, &c. or other things, lie; and no subject in Great Britain shal! be liable to any of the penalties of the 12 Ann. st. 2. c. 16. Eng. so as the interest to be received for the money so bona fide lent, do not exceed the rate of £6 for £100 for a year. Provided (s. 3.) that this act shall not make good any such mortgage, &c. where the lender shall, knowingly, advance thereon, more money than the said lands, &c. or other things, shall be, bona fide, worth at the time. And provided (s. 5.) that such mortgages, or other securities, by which such lands, &c. or other things, are to be charged or affected, shall be registered within the kingdom, colony, or place, where the said lands, &c. lie, within the time limited by the laws of such place; otherwise the same shall be liable to the provisions of the 12 Ann. unless the person for whose behoof such mortgage, &c. shall have been made or granted, shall have used his utmost endeavour to cause the same to be registered within the time so limited.

By the 9 & 10 W. 3. c. 17. Eng. all bills of exchange drawn in, or dated at or from, any place in England, &c. of the sum of £5 or upwards, upon any person in London or other place, (in which bill the value shall be expressed to be received) and drawn payable at a certain number of days, weeks, or months, after date thereof, may, after acceptance, (which shall be by under-writing the same under the party's hand) and after the expiration of 3 days after the same shall be due, be protested by a notary

notary public, and in default of such notary public, by any other substantial person of the place, in the presence of 2 or more witnesses, refusal or neglect being first made of due payment of the same; which protest shall be made under a copy of the said bill in the form following: "Know all men that I A. B. on the

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day of, at the usual place of abode of the said have demanded payment of the bill, of" or accept

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ance of the bill" added in 8 Ann. c. 11.

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accept" added

Ir.

c. 11. Ir.

Which protest shall, within 14 days after making thereof, in 8 Ann. c. 11. be sent, or due notice given thereof, to the party from whom said bill was received, who is, (upon producing such protest) to repay the said bill, with all interest and charges from the day such bill was protested; for which protest shall be paid a sum not exceeding ‡6d.; and in ‡ 2s. by 8 Ann. default of such protest, or due notice, within the days so limited, the person so failing shall be liable to all costs, damages, and interest, which shall accrue thereby. And by s. 3. in case any such inland bill of exchange be lost or miscarried within the time limited for payment, then the drawer shall give another bill of the same tenor, the person to whom it shall be so delivered giving security, (if demanded) to the said drawer, to indemnify him,

5.3.

in case the said bill shall be found again. And the 3 & 3 & 4 Ann. 4 Ann. c. 9. s. 4. Eng. further provides, that in case, c. 9.s. 4. Eng. upon presenting any such bill of exchange, the party on Protest for nonwhom the same shall be drawn shall refuse to accept the acceptance. same, by under-writing the same, the party to whom said bill is payable, his servant, agent, or assigns, shall cause said bill to be protested, as in case of foreign bills of exchange; for which protest 2s. shall be paid, and no more. Provided (s. 5.) that no acceptance of any such bill shall charge any person, unless the same be under-written or indorsed; and if such bill be not accepted by such un- test necessary to der-writing, &c. no drawer shall be liable to pay any charge drawer costs, damages, or interest thereupon, unless such pro- &c. test be made for non-acceptance thereof, and, within 14 days after, sent, or notice thereof given, to the party

s. 5.

Notice of pre

from

8. G.

Bill to be for £20.

from whom such bill was received, or left in writing at the place of his usual abode; and if such bill be accepted, and not paid before the expiration of 3 days after said bill shall be payable, then no drawer shall pay costs, damages, or interest thereon, unless a protest be made and sent, or notice given, as aforesaid; nevertheless, every drawer of such bill shall be liable to costs, &c. if any one protest be made for non-acceptance or nonpayment, and notice be sent, &c. as aforesaid. But by s. 6. no such protest shall be necessary for non-acceptance or non-payment, of any inland bill of exchange, unless the value be expressed in such bill to be received, • £5 by 8 Ann, and unless the bill be drawn for *£20 sterling, or upwards; and the protest, hereby required for non-acceptance, shall be made by such persons as are appointed by the 9 & 13 W. 3. c. 17. s. 1. supra. By s. 7. if any person accept such bill of exchange in satisfaction of any satisfaction of a former debt, the same shall be esteemed a full payment, if he doth not his endeavour to get the same accepted and paid, and make his protest as aforesaid for non-acceptance or non-payment. Provided s. 8. that nothing herein shall discharge any remedy that any person may have against the drawer, acceptor, or indorser of such bill.

c. 11. Ir.

s. 7.

Bill taken in

former debt.

$ 8.

Promissory notes

negotiable, and

thereon, as in
Lase of bills of
exchange.
3 & 4 Ann.

c. 9. s. 1. Eng.

By this statute (s. 1.) all notes in writing signed by any actions brought person [for body corporate,] or by the servant or agent of any [corporation], banker, goldsmith, merchant, or trader, who is usually entrusted by them to sign such promissory notes, whereby such person, &c. shall promise to pay any other person, &c. or order, or bearer, any money mentioned in such notes, shall be, by virtue thereof, due and payable to such person, &c. to whom the same are made payable. And every such note, payable to such person, &c. or order, shall be assignable over as inland bills of exchange are by the custom of merchants;

So much of this act as relates to corporations is omitted in the 9 Ann. c. 11. Ir. The governor and company of the Bank of England were by virtue of the 5 W. & M. c. 20. Eng. (which incorporates them,) empowered to issue bills assignable by indorsement. But the governor and company of the bank of Ireland were not established or incorporated, until the 21 & 22 Geo. 3. C-16. Ir. was passed for that purpose.

s. 2.

Limitation.

Proviso.

s. 3.

merchants; and the person, &c. to whom such note is payable, may maintain an action for the same, as upon an inland bill of exchange. And the person, &c. to whom such note so payable to order is indorsed or assigned, may maintain his action against the person, &c. who, or whose servant or agent as aforesaid, signed such note, or against any of the persons that indorsed the same, as in cases of inland bills of exchange, and recover damages and costs of suit; and if plaintiff be nonsuited, or verdict be against him, the defendant shall recover costs; and such plaintiff or defendant respectively may sue out execution by capias, fieri facias, or elegit. And by s. 2. such actions shall be brought within the time appointed for bringing actions by the #21 Jac. 1. c. 16. Eng. "An act for limitation of actions, &c." [By s. 3. no body corporate shall have power to issue notes other than they might before this act.] The 8 Ann. c. 11. 3 Ann. c. 11. Ir. has incorporated the 9 & 10 W. 3. c. 17. Eng. and 1. 3 & 4 Ann. c. 9. Eng. and contains the same provisions, with such exceptions as are noted in the margin. But the 26 26 Geo. 3. Geo. 3. c. 17. Ir. has increased the fees of public notaries to 4s. for protesting any foreign bill of exchange, Fees of protest. and the like sum for protesting any inland bill exceeding £20; and to 2s. 6d. for protesting any inland bill, &c. not exceeding £20; and to 1s. 6d. for noting any bill of exchange, above all stamp duties payable thereon. By the 40 Geo. 3. c. 42. Eng. where bills of exchange and 40 Geo. 3. promissory notes become due and payable on Good Friday, the same shall be payable on the day before; and Bills and notes the holders of such bills, &c. may note and protest the Friday shall be same for non-payment on the day preceding Good Fri- bad the day day: No statute in Ireland has provided in any such manner for the better observance of Good Friday.

c. 17. Ir.

c. 42. Eng.

due on Good

paid

before.

notes, &c. un

.48 Geo. 3. c. 88. s. 1. & 2. F.

The negotiation of promissory notes and inland bills of Negotiation of exchange under a limited sum is restrained by the 48 der a limited Geo. 3. c. 88. E. (which repeals the 15 Geo. 3. c. 51.) sum restrained. which enacts that all promissory or other notes, bills of exchange or drafts, or undertakings in writing, being negotiable or transferable, for the payment of any money, or any orders, notes or undertakings in writing, being negotiable

VOL. I.

2 R

10 Car. 1. st. 2. c. 6. fr.

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