been allowed in former settled accounts, (t) or the customer is informed and knows that such is the practice of the house. (v) Upon bills of exchange or other written instruments interest is generally allowed from the date, except when it is otherwise expressed, or when it is made payable on demand. In the latter case it is allowed from the time of the demand only. (u) (t) Bruce v. Hunter, 3 Camp. 467. v. Richmond, Ib. 507. See also Chitty on Bills, 537. 5 Ed. OF CHAPTER IX. CONTRACTS TO ACCEPT OR REPLACE STOCK: AND OF THE STATUTE REGULATING SUCH CONTRACTS, AND ALSO TO PREVENT STOCK-JOBBING. AND OF THE MEASURE OF DAMAGES FOR BREACH OF CONTRACT. IN N order to prevent the pernicious and destructive practice of stockjobbing, and to regulate contracts made for accepting and transferring stock, an Act of Parliament was passed very early in the reign of George the Second (a), intituled, "An Act to prevent the infamous practice of stock-jobbing," which, after reciting "Whereas great inconveniences have arisen, and do daily arise by the wicked, pernicious, and destructive practice of stock-jobbing, whereby many of his Majesty's good subjects have been and are diverted from pursuing and exercising their lawful trades and vocations, to the utter ruin of themselves and families, to the great discouragement of industry, and to the manifest detriment of trade and commerce: for remedy thereof, it is enacted, "That all contracts and agreements whatsoever which shall be made or entered into by or between any person or persons whatsoever, upon which any premium, or consideration in the nature of a premium, shall be given or paid for liberty to put upon, or deliver, receive, accept, or refuse any public or joint stock, or other public securities whatsoever, or any part, share, or interest therein, and also all wagers, and contracts in the nature of wagers, and all contracts in the nature of putts, and refusals, relating to the then present or future price or value of any such stock or securities as aforesaid, shall be null and void, to all intents and purposes whatsoever; and all premiums, sum or sums of money whatsoever, which shall be given, received, paid, or delivered, upon all such contracts or agreements, or upon any such wagers, or contracts (a) 7 Geo. II. c. 8. and made perpetual by 10 Geo. II. c. 8. This statute is frequently called Sir John Barnard's Act; it having been brought into Parliament and framed by him. in the nature of wagers, as aforesaid, shall be restored and repaid to the person or persons who shall give, pay, or deliver the same, who shall be at liberty, within six months from and after the making such contract, or agreement, or laying any such wager, to sue for and recover the same from the person or persons to whom the same is or shall be paid, or delivered, with double costs of suit, by action of debt, founded on this act, to be prosecuted in any of His Majesty's courts of record, in which action no essoign, protection, wager of law, or more than one imparlance shall be allowed; and it shall be sufficient therein for the plaintiff to allege that the defendant is indebted to the plaintiff, or has received to the plaintiff's use the money or premium so paid or received, whereby the plaintiff's action accrued to him, according to the form of this statute, without setting forth the special matter." And for the better discovery of the monies, or premium, which shall be given, paid, or delivered, and to be sued for and recovered as aforesaid, it is enacted, by the second section of the act, "that all and every the person or persons, who, by virtue of this present act, shall or may be liable to be sued for the same, shall be obliged and compellable to answer, upon oath, such bill as shall be preferred against him or them, in any court of equity, for discovering any such contract or wager; and the sum of money, or premium, so given, paid, or delivered as aforesaid." But by section 3, it is provided, always, "that the plaintiffs, relators, or informers in such bill shall and do (at the same time of bringing or filing such bill) give good and sufficient security to answer and pay the defendants in such bill full costs of suit, in case such costs shall be adjudged to the defendants; and that no person shall be obliged to appear, or to answer such bill until such security is given." By section 4. it is further enacted, "That all and every person or persons whatsoever, who shall enter into, make, or execute any such contract, bargain, or agreement, upon which any premium, or consideration in the nature of a premium, shall be given or paid for liberty to put upon, or to deliver, receive, accept, or refuse any public or joint stock, or other public securities whatsoever, or any part, share, or interest therein, or any contract, or bargain, in the nature of putts and refusals, as aforesaid, or shall lay any such wager, or make any such contract in the nature of a wager, as aforesaid, (except such person or persons who shall actually and bonâ fide without covin or collusion, sue, and with effect prosecute for the recovery of the money or premium given, delivered, or paid by him, her, or them, as aforesaid; and also except such person or persons, who shall voluntarily, before any action or suit commenced, actually and bona fide, without covin or collusion, repay or tender, before one or more witness or witnesses, such money, or premium, as he, she, or they shall have had, taken, received, or been paid, as aforesaid, and also except such person or persons, who shall discover such transaction, in any court of equity,) shall forfeit and pay the sum of 500l.; and also all and every brokers, agents, scriveners, or other persons negotiating, transacting, or writing any such contract, bargain, or agreement, as aforesaid, shall likewise forfeit and pay the sum of 500l." And for preventing the evil practice of compounding, or making up differences for stocks, or other securities bought, sold, or at any time hereafter to be agreed so to be, the 5th section of the act enacts, "That no money, or other consideration whatsoever, (except as hereinafter is provided,) shall be voluntarily given, paid, had, or received, for the compounding, satisfying, or making up any difference for the not transferring, having, or receiving any public or joint stock, or other public securities, or for the not performing of any contract, or agreement, so stipulated and agreed to be performed; but that all and every such contract and agreement shall be specifically performed and executed on all sides, and the stock or security thereby agreed to be assigned, transferred, or delivered, shall be actually so done, and the money or other consideration thereby agreed to be given and paid for the same, shall also be actually and really given and paid; and all and every person and persons whatsoever who shall voluntarily compound, make up, pay, satisfy, take, or receive such difference-money, or other consideration whatsoever, for the not delivering, transferring, assigning, having, or receiving such stock, or other security, so to be agreed to be delivered, transferred, assigned, had or received, as aforesaid (except in the manner hereinafter provided) shall forfeit and pay the sum of 1007." By the 6th section it is provided, nevertheless, " That no person, or persons, who shall sell any public or joint stock, or other public securities, to be delivered and paid for on a certain day, and which shall be refused or neglected to be paid for, according to such agreement, shall be obliged to transfer the same: but it shall and may be lawful for such person, or persons, to sell such stock, or other securities, which shall be so refused or neglected to be paid for, to any other person or persons, for the best price which can be obtained, and, after such sale, to receive (if the parties can agree) or to recover, as aforesaid, from the person or persons who first contracted for the same, all the damage which shall be sustained thereby." And by the 7th section it is also provided, "That it shall and may be lawful to and for any person or persons, who shall buy any public or joint stock, or other public securities, to be accepted and paid for on a future day, and which shall be refused, or neglected to be transferred, to buy the like quantity of such stock, or other public securities, of any other person or persons, at the current market price; and to recover and receive, after such purchase and acceptance, (if the parties can agree) from the person or persons who first contracted to sell or deliver the same, the damage which shall be sustained by reason of the not delivering or not transferring such stock, or other securities; any thing in this act, or any law, usage, or custom to the contrary notwithstanding." The 8th section of this act, after reciting, "Whereas it is a frequent and mischievous practice for persons to sell and dispose of stocks, or other securities, of which they are not possessed," enacts, "That all contracts and agreements whatsoever, which shall be made or entered into, for the buying, selling, assigning, or transferring of any public or joint stock or stocks, or other public securities whatsoever, or of any part, share, or interest therein, whereof the person or persons contracting or agreeing, or on whose behalf the contract or agreement shall be made, to sell, assign, and transfer the same, shall not, at the time of making such contract or agreement, be actually possessed of, or entitled unto in his, her, or their own right, or in his, her, or their own name or names, or in the name or names of a trustee or trustees, to their use, shall be null and void, to all intents or purposes whatsoever, and all and every person and persons whatsoever contracting or agreeing, or on whose behalf, and with whose consent any contract or agreement shall be made to sell, assign, or transfer any public or joint stock or stocks, or other public securities, whereof such person or persons shall not, at the time of making such contract or agreement, be actually possessed of, or entitled unto, in his, her, or their own name or names, or in the name or names of a trustee or trustees, to their use, or their own right, as aforesaid, shall forfeit and pay the sum of 500l., to be recovered by action of debt, as aforesaid; one moiety thereof to the use of His Majesty, and the other moiety thereof to the use of him, her, or them who shall sue for the same: and all and every broker or brokers, agent or agents, who shall negotiate, transact, or intermeddle in the making, or procuring to be made, any such contract or agreement, as aforesaid, and shall know that the person or persons, by whom or on whose behalf such contract or agreement shall be made, is or are not possessed of, or entitled unto, the stock or security concerning which such contract or agreement shall be made, in his, her, or their own name or names, or in the name or names of a trustee or trustees, for their use or right, shall, for every such offence, forfeit and pay the sum of 100l., to be recovered by action of debt, as aforesaid." By the 9th section it is enacted, "That all and every broker or brokers, or other person or persons, who shall negotiate or act as a broker, receiving brokerage in the buying, selling, or otherwise disposing of any of the said public or joint stocks, or other public securities, shall respectively keep a book or register, which shall be called the broker's book; in which said book he and they shall fairly, justly, and |