The Sun.
London, England, 1856-03-26 00:00:00

BRITANNIA MUTUAL LIFE ASSOCIATION.

Empowered by her Majesty's Royal Letters Patent.
Profits divided annually.
Premiums computed for every three months' difference of age.
half-credit policies—the unpaid half premiums liquidated out or
the
Profits.
___(PaontlETAßT.) I (MUTUAL.)

I. Half Whole Half Quer •
4 premium premium •
444 e
• Firat for Re- Annual Yearly tetly
remium Pre- Pre-
Years. of Life. Seven 'minder ' p
mium. mium.
.
........ 1 I
-.1
i„ 4 a. d.! £ a. 'd.l Years. Months .£ a. d. X a. d.l £ a. d.
"'1'1912 3 81 30 0 273'142. 0 12 3
bq• 1 9 2, 2. 18 4, 3 2 7 61 1 4 4, 012 4
~ 2 2 61 4 5 0, 6 .2 7 10' 1 4 6; 012 5
" '3
6 81 613 41 9 2 8 2; 1 4 8; 012 6

E. R. FOSTER, Resident Director.
ANDREW FRANCIS, Secretary.

G,U4.ltDlt.strntANFcl

RE AND LIFE
COMPANY,

No. 11# Lombard,

•street, London.

DIREC
FRANCIS HART DYKE,
HENRY lIULSE BERET'
John Dixon, Esq.
Air W. M. T. Farquhar, Bart.
Sir Walter R. Farquhar, RA
Thomson Ilankey, Esq., IMP.
John Harvey, Esq.
•John G. Hubbard, Esq.
George Johnstone, Esq.
John Labouehere, Esq.
John Loch, Esq.

;TORS.
, Esq., Chairman.
st, Esq., Deputy-Chairman.
Stewart Marjoribanks. Esq.
John Martin, Esq., M.P.
Rowland Mitchell, Esq.
James Morris, Esq.
Henry Norman, Esq.
Henry IL Reynolds, Esq.
John Thornton, Esq.
James Tutloch. Esq.
Henry Yigne, Esq.
AUDIToxe.
Robaits, Esq. Henry Sykes Thornton, Esq.
Lewis Lloyd, jun., Esq. f John Henry Smith, Esq.
George Keys, Esq,, Secretary.
Samuel Brown, Esq., Actuary.
ijarE DEPARTMENT.—Under the provisions of an Act of Par-
il.Ment, this Company now oilers to future insurers Four-fifths of
,e Profits, with Quinquennial Division, or a Low Rate of Premium
Nlhout participation of Profits.
who next division of Profits will be declared in June, 1860, when
participating Policies which shall have subsisted at least one year
Christmas, 1859, will be allowed to share in the Profits.
4t the fli&divisions of Profits mafie by this Company, the total
el'ersionary Bonuses added to the Policies have exceeded 913.000 .
%At Christmas t
, 1854, the Assurances in force amounted to upwards.
10,740,0001. the' Income from the Life Branch in 1854 was more
en WlO,OOOl. • end the Life Assurance Fund (independent of the
flarantee Capital) exceeded 1,700,000/.
Iip!OREIGN RISKS.—The Extra Premiums reuired for the East
'West Indies, the British Colonies, and the northern parts of the
united States of Anierica, havebeen materially reduced.
INVALID LlVES.—Persons who are not In such sound health as
* h,Niel enable them to insure their Lives at the Tabular Premiums,
have Their :Litres insured at Extra Premiums.
1.1, ed I•oANS.granted on Life Policies to the extent of their valuea, prei-
-4.' such Policies shall have been effected a sufficient time to have
galned in each case a value not, under 501.
*,4RSTONMENTS 'OP POLICIES.—Written 'Notices of, received.
d registered.
ode
FEES paid by the Company, and no charge will he
—.le for volley Stamps.
ICotice is hereby given, that Fire -Policies which expire at Lady-
-4P must be renewed within firteen days at this efft.e, or with 81r.
)48, No. I, St. James's-street, corner' of Pail-mall; or with the
to IbPany's agents throughout the kingdom, otherwise they becom•
Losses caused by Explosion of Gas are admitted by this Company.

It • . A.D. 1720.
OYAL EXCHANGE ASSURANCE
CORPORATION,
(Established by Charter of his Majesty George the First),
For SEA, FIRE, LIFE, and ANNUITIES.
OFFICES-ROYAL EXCHANGE, LONDON.
BRANCH OFFICE-29, PALL-MALL.
• Octavina Wigram, Esq., Governor.
George Pearkes Barclay, Esq., iteh..G.wernor.
Sir John William Lubbock, Ilatt., Deputy-Governor.
DRIACTORS.
4'47 Bainbridge, Esq. Charles John Manning, Esq.
L4011(1 S. P. Calvert, Esq. Hon. John T. Leslie Melville. .
44n Garret tOettley, Esq. Henry Nelson, Esq.
V4Xander Colvin, Esq. Edward Howley Palmer, Esq.
William Maxwell Daniel, Esq. Sir John Henry Petty, Bart.
Davidson, Esq. Alexander P. l'revost. Esq.
)OX/tiller Druce. Esq. . Abraham George Roberts, Esq
,r,eradtale Grenfell, Esq. Charles Robinson, Esq.
;'M.Amadetis Heath, Esq. • Soltau, Esq.
4,14111 Tetlow Hibbert, Esq.. 'Thoraal Tooke, Esq. •
les Stewart Hodgson, Esq. William Wallace. Esq.
celot Holland, Esq. , Charles Baring Young, Esq.
MEDICLLItnegnEn---Samuel Belly, Esq., F.R.S.
h„4otice.—The usual fifteen days allowed for payment of Fire Pre-
-411irris iallhag due at Lady-day will Rijiire on the,9th April.
I,llTtrand LIFE AOURANCES may be effected With this Cor-
ltion OR advantageous terms. '
ah tke Life Department, assurances are granted with participation
10Iits, or, at lower rretninma, without such participation.
41 ollowin table 'shows the large BONUSES declaed up to the
,111 r?efcember,g 1855, on British Peal, ipating Policiesr of fourteen
) -41 standing, for the sum of 1,0001, each.

/
A g* Addition Farther Per Colt. Per Cent.
Addition Total per annum on the
At'llen mad,. in
in Addition on the .um Premium
~:-`uretl. • 1848. • 1355. Assured. paid.
-...."--...-- --- -- ---..—
~, • X • A X
a 0 lO2 .. 112 211 1'53 59'3
115 106 115 221 , I'sB 54.3
40 . , na 121. 234 1 67 50•5
45 ' ' 121 128 249 I'7B 4,1'2
50 135 140. 275 1.96 43 0
55 149 154 303 2•16 39•9
60 • 166 . 174 349 ' 2 43 37.2

ASSIMILATION OF TUE MERCANTILE
, LA W.

A bill brought in by the Lord Chancellor for the as-
similation of the mercantile law of the United Kingdom
contains a clause abolishing the necessity for a written
contract In the purchase and sale of goods. The measure
will come on for discussion after Easter, and it is parti-
cularly desirat-le that this part of it should be fully ue-
,lerstood, since it mitt have an important bearing on
every mercantile transaction. According to the 17th
section of the Statute of Frauds, no contract fur the sale
of goods of 101. or upwards is valid unless some note or
memorandum in writing of the bargain be made and
signed by the parties to be charged by such ccotract or
by their authorised agents. The act is a very old one,
and, in the opinion of a former Chancellor, every lire of
it was " worth a subsidy." It has not applied to Scot-
land, in which country a verbal agreement is binding ;
and in some parts of England, especially Manchester, ii
has been disregarded. In London hints been looked upon
-with favour, and strictly adhereil to. This discrepancy
of custom being inherently objectionable, although it
does not appear to have been attended with so mush
practical inconvenience as might have been -anticipated,
the Mercantile Law Commission, in a report printed last
year, reconituended that the enactment should' be re-
pealed, "and that the laws of England and lielan,l
should in this respect,. be assimilated to the simpler rule
sf the common law observed in Scotland." On the
theoretical propriety of effecting an assimilation of the
law there can be no question. The point is, should the
Scotch system be tnade to conform to that of England
mid Ireland, or should the process be of the opposite
kind? The chief argument in favour of abolishing the
prevision seems to consist in the int xpediency of making
au inflexible rule in a matter which, without interfering
with any moral principle, may be left to individual dis-
cretion. Thies) alio consider a written note of contract
advantageous may still insist upon having it; but why,
it is asked, shut out the possibility of parol testimony in
cases where parties prefer the ri4( of dispensing with
t-uch a precaution ? In the absence of a written note
juries would be entitled to require evidence of the most
unimpeachable description before deciding in any
given case that a contract had been completed ; but
instances must sometimes occur in which persons
through ignorance of the law enter into verbal agree-
ments, which could not be disputed 'without reckless
dishonesty ; and it is contended that no enactment can
have a salutary operation which precludes redress under
such circumstances. On the othi r h lnd, the reasons fir
mainteini g the English practice possess considerable
weight. The cases of error from ignorance of the law are
mostly of an insignificant character, whereas the fact
that the enormous traesactiona of London, which affect
the commerce of the entire world, have always been
carried on under the existing system, and would, at
least temporarily, be unsettled by any change in it, is
a strong plea for demanding its continuance. At pre-
sent the broker who makes the contract which is to
bind both parties sends the bought and sold note
at once to each party respectively. If he has
misunderstood or abused their instructions, the
mischief-is at once corrected
; but if no written evi-
dence be required, and the transaction rests on the
verbal evidence of the broker, there is obviously an
opening for much mischief " It may be said," observes
a legal correspondent of great commercial experience,
that this mischief will in time be corrected, and that
if brokers are found to abuse the confidence of their em-
ployers they will cease to be employed, or will on all oc-
casions use written contracts ; but to arrive at this re-
sult you will have to go through a very doubtful expe-
riment, and probably much litigation." This diversity
of opinion being prevalent, it is desirable that the atten-
tion of the merchants of London should be given to the
subject, and the object of the present remarks is to sug-
gest that they should take some measures to ascertain
the general feeling respecting it. On the propriety of
written contracts being always insisted upon in practice
there is not likely to be much difference of view among
the prudent personS, and even if the expediency of abo-
lishing the law by which they are made imperative
should be airnitted it is to be hoped that the custom, as
a custom, will never be relaxed, and that juries will
learn to view with great suspicion any claim in which
it may have been neglected.—Times.

The bar silver brought by the last West India mail
was sold yesterday at 61d. per ounce, showing an ad-
vance of id.
Mr.'Henry Luard, the general mansger of the Lon-
don and County Bank, has resigned, and Mr. William
M`liewan, his deputy, has been provisionally appointed
to succeed him. This change is stated to have no con-
nection with the recent death of Mr. Sadleir, whose se-
eurities deposited with the bank, and which consisted of
title-deeds, have all been pronounced perfectly regular,
after drietaiiiihationiiiitituted'hy Messrs. Fresh&ld.