BONDS.

Pay (annuity).

of the natural life of the said (grantor) (1), but subject to such agreement for re-purchasing the same as hereinafter is mentioned or referred to, at the price or sum of £ which the said (grantee) hath paid to the said (grantor) at the time of the sealing and delivery of the above written obligation, in promissory notes (2) of the Governor and Company of the Bank of England, payable to the bearer thereof respectively on demand. AND WHEREAS (3) on the contract for the said purchase it was agreed, that for the better securing the payment of the said annuity, the said (grantor) (4) should execute a certain indenture of grant and covenant relating thereto, which said indenture has been already prepared and engrossed, and bears or is intended to bear even date with the above written obligation, and is made or expressed to be made between the said (grantor) of the one part, and the said (grantee) of the other part, and that the same annuity or annual sum should be still further secured by the above written obligation, and also a warrant of CONDITION. attorney to confess judgment thereon. Now THE CONDITION of the above written is such, that if the above bounden (grantor) (5) do and shall well and truly pay, or cause to be paid unto the said (grantee), his executors, administrators or assigns, one annuity or clear yearly sum of £ of good and lawful money of the

Nominees.

Consideration money.

Surety.

Surety.

(1) If the annuity be granted during the lives of nominees, say, During the natural lives of (the nominees) of, &c. and the life of the survivor of them."

(2) Under the former act of 17 Geo. 3. c. 6. it was necessary that the consideration for the purchase of the annuity, with the mode of payment, &c. should be set forth, as well in the bond as in every other security by which it might be accompanied; see Hodges v. Money, 4 Durnf. and E. 500. But by the late act of 53 Geo. 3. c. 141. the pecuniary condition is required to be stated in the memorial only.

(3) If a surety join with the grantor in securing the annuity, add, "AND WHEREAS the said (surety) hath agreed to become a surety for the said (grantor), and to join in the grant and other securities for the payment of the said annuity."

(4) If there be a surety, add,

"And the said (surety).”

(5) If a surety join with the grantor, say,

"The above bounden (grantor) and (surety), or either of them, or the heirs, executors or administrators of either of them.”

If the annuity be granted during the life of the grantee or nomiadd,

nees,

"His heirs, executors or administrators."

United Kingdom of Great Britain and Ireland, of English value and currency, yearly and every year during the natural life of him the said (grantor) (1), unless the same shall be sooner re-purchased or otherwise extinguished, in the manner in the said in part recited indenture, and hereinafter also expressed, by four equal quarterly payments, on the

day of

the day of

day of
in each year,

without any deduction or abatement for or on account of any tax,
rate, assessment or other matter, cause or thing whatsoever, at or in
the common dining-hall of the Inner Temple, London, between
the hours of twelve and two of the clock in the day-time. AND if
the heirs, executors or administrators of him the said (grantor) do
and shall in like manner pay a due and just proportion of the said
annuity or quarterly payment up to the day of the death of the said
(grantor), in case of his decease between either of the said days or
times (2); and if he or they do and shall make the first of the said
payments on the
day of
next ensuing the date
of the above written obligation, in case the said (grantor) shall so
long live, and if not, then on the day of his decease (the said sums
and days and times being, or being intended to be the same respec-
tively as are mentioned in the above in part recited indenture (3).
Or if the said (grantor) (4), his heirs, executors or administrators,
do and shall at any time after the expiration of years from the

date hereof, well and truly pay, or cause to be paid unto the said
(grantee), his executors, administrators or assigns, the full and just

66

(1) If the annuity be granted during the lives of nominees, say, During the term of the natural lives of the said (nominees), and the life of the survivor or longest liver of them."

(2) This is necessary, an annuity not being apportionable, unless by express agreement; see 3 Atk. 261; 2 Ves. 632; 3 Brow. Ch. R. 99. 101. (3) If the bond be conditioned for payment of an annuity to a wife on a separation, omit the clause of re-purchase, and add,

66

Or if the said (husband) and (wife) shall at any time hereafter mutually and voluntarily consent and agree, in or by any writing under both their hands, subscribed and attested by two or more credible witnesses, to live and cohabit together, and shall accordingly live and cohabit together as man and wife for the space of one calendar month next thereafter." THEN, &c. or else, &c.

(4) If a surety join, say,

"The said (grantor) and (surety), or either of them, or the heirs, executors or administrators of either of them, or any person or persons on their or either of their behalf."

BONDS.

Pay (annuity).

Nominees.

Annuity to wife on separation.

Surety.

BONDS.

Pay
(annuity).

just sum of £
of lawful and current money aforesaid, (
calendar months notice of such payment having been previously
given, or the sum of £
being one quarter's payment of the
said annuity, being paid in lieu of such notice), as and for the re-
purchase and extinguishment of the said annuity or yearly sum of
£
together with all arrears which shall be then due upon
or on account of the same annuity, and all costs, charges and
expenses which may have been incurred by reason of any default in
payment thereof. THEN, &c.

Enrolment.

By 53 Geo. 3. c. 141. a memorial of every bond or other security payment of an annuity during any life or lives, or years deter.

h. 618. infra for pae thereupon, must be enrolled in Chancery within thirty days;

Stamp.

see ante, MOD. PREC. Vol. VI. (3d Ed.) p. 72. n.

If the bond be given as a collateral or auxiliary security for the payment of the annuity, it will require a stamp of £1 only, if the deed of grant be impressed with an ad-valorem stamp ; but if from any circumstance, as the consideration of the annuity being the conveyance of an estate or the like, the ad-valorem duty do not attach upon the deed of grant, the bond must then be impressed with the ad-valorem stamp.

BONDS.

Pay (balance to bankers).

No. CCXXIV.

Bond given by a Customer to Bankers for securing the repayment of money they may advance beyond the balance in their hands.

(Concise Form (1).)

Variations where a Surety joins (2). Also where the bond ac-
companies a mortgage.

at

KNOW ALL MEN, &c. (3) WHEREAS the said (obligor) hath opened an account with the said (obligees) as bankers, at their banking-house AND WHEREAS the said (obligees) have agreed to discount bills of exchange and other negotiable securities, and otherwise pay in advance for the said (obligor) if he should have occasion,

(1) See fuller form, post. p. 152.

(2) A bond entered into by a surety jointly with his principal, conditioned to repay to several persons as copartners all sums advanced by them or any of them to the principal in their capacity as bankers, will not (as to the surety) extend to sums advanced by the surviving partners after the decease of either of them; Arlington v. Merricke, 2 Saund. 411, c.; Barker v. Parker, 1 Durnf. and E. 287; Weston et al. v. Barton, 4 Taunt. 673; Wright v. Russel, 2 Blac. 934. 3 Wils. 532. S. C.; Myers v. Edge, 7 Durnf. and E. 254; Strange v. Lee, 3 East, 484; Bodenham v. Purchas, 2 Bar. and Ald. 39; Clayton's case, 1 Mer 532; because in favour of a surety the bond is construed strictly, and according to the letter; but the principal will be bound notwithstanding any change in the obligees. And it should seem, that it will be the same as to the surety, if the bond be so worded as to extend to each of the obligees in his distinct or several capacity, or to the house or firm for the time being, and be not confined to the firm of the house subsisting at the date of the bond, or to the obligees in their joint capacity. See Barclay v. Lucas, as cited in 2 Saund. 415. n.; 1 Durnf. and E. 291. n. (a). In the first case above cited of Arlington v. Merricke, however, the court appears to disapprove of this latter case generally, without adverting to this distinction; and see 5 Bar. and Ald. 264. n.

(3) See form of obligation, ante, pp. 73. 77; and see notes, p. 33. And so a bond given by copartners to secure payment of balances due from them to their bankers will not (unless specially worded for the purpose) cover any advances made by the bankers to one of the parties after the death of the other of the obligors; Simpson v. Cooke, 1 Bingh. (C. P.) 452.

BONDS.

Pay (balance to bankers).

CONDITION.

any sum or sums of money not exceeding at any one or more time or
times the sum of £
in the whole (1), upon his entering into
the above written obligation with such condition to be thereunder
written as hereinafter is contained. Now THE CONDITION of the
above obligation is such, that if the said (obligor), his heirs, execu-
tors, or administrators, do and shall from time to time, and at all
times hereafter, re-imburse and fully pay and satisfy to the said (ob-
ligees), and all and every other person and persons who shall or may
become partner or partners with them in the banking business, or
any or either of them, or other the firm of the said house for the
time being, and their and each and every of their heirs, executors,
and administrators, all and every such sum and sums of money as
they the said (obligees) or any or either of them, or any future
partner or partners of the said firm, or other the firm of the house for
the time being, shall advance and pay, or be liable to advance and
pay, for or on account of their or his accepting or paying any bill or
bills of exchange, drafts, notes, or other securities or engagements
whatsoever, which he the said (obligor) shall or may from time to
time or at any time or times draw upon, or desire, or request to be
paid by them or any or either of them, or the firm of the said house
for the time being, or be made payable at their banking-house, or
which shall be discounted or paid, or credited in advance by them or
either of them for the said (obligor); and also all and every other
sum and sums of money which they the said (obligees) or any or
either of them, or other the firm of the house for the time being,
shall have laid out, paid, or advanced, or become in any wise liable
to advance or pay to any person or persons whomsoever, to, for, or
on the credit of the said (obligor) or otherwise on his account; to-
gether with such lawful charges and allowances for advancing and
paying such bill or bills, drafts, notes, securities, and engagements
as are usually charged by bankers in such and the like cases, and
interest after the rate of five per cent. per annum for such sums as

Mortgage.

(1) If the bond accompany a mortgage made to the bankers for the like purpose, add,

"And by indentures of lease and release, &c. [or as the case may be,] bearing date, &c. and made between, &c. the said (obligor) hath for the security and indemnity of the said (obligees) executed a conveyance, by way of mortgage, of certain hereditaments, situated, &c. AND as a further security for the said purpose has agreed to enter into," &c. as above.