The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1883-01-12
Law FOR FARMRRs.

Some time since we gave an article on
humbugs. The country is full of ad-
venturers whOprey upon two classes dis
/ tinctively.- y.-First, those who believe
| that all newspapers are liars. and second,
| that class who subscribe for the paper
| that is sold for the least money without
reference to the reading matter it con-
tains. Among the most successful
swindlers are those who take promis-
sorry note, for some swindle they have to
sell, either drawn in such a manner that
it may be altered or separable, or else
under the pretense that it will rot be
presented until the article is. tested.
a good authority SAYS
a pTomissOTy note is a written agree
ment to pay a certain sum of money at
a certain time. 1t must be definite and
unconditional. 1t is therefore in the
nature of money being negotiable, and
where payable to bearer, the property in
it passes by the mere delivery of the pa
per on which it is written. It is not
subject to all the defenses that are good
as against other contracts. For exam
pie, it is generally good in the hands OF
an innocent holder, though the maker
of it had lost it, or had been stolen, or
obtained from him by fraud. This may
be the case, even though it bad been al
IClCu VI ldlScu. dS WutIB L give NY
note signed in blank to person, author
izing him to fill in a certain amount, as
$40, and he fills in a larger amount Bs
500, and sells it to an innocent purchas-
er. 1 must pay the larger amount for 1
1t was who permitted the fraud to be
committed and an old maxim of the
law holds that were one or two innocent
persons to suffer from the wrongful
acts of a third, the loss must be
borne by the one who enabled such third
person to occasion it. The Justice of
this is obvious, and any sensible man
will appreciate the necessity of protec-
ting, in the largest degree, the rights Of
bona fide holders of negotiable instru-
ments, which form part of the currency
of the country, and if subject to all the
defenses of other written contracts
would be deprived of their main value.
Our advice is never to give a note un-
less written in the ordinary form, and
you should know perfectly the contents
thereof. The great number of frauds
that have been perpetrated on the far
mers of Western States and Territories
by patent right men and worthle less agri-
cultural machinery agents, should be
sufficient excuse for you to have nothing
to do with men, especially in important
banker, lawyer or merchant that they
are all right.
Another fraud is that Of conveyance
The following decision is a case in point.
Where party conveys his property to a
third party when judgments are out
against him, and such convey
ance is with the intent to defraud his
creditors, and the fraud is participated
in by his purchaser, his title viii not be
even though he paid sufficient
Williams VS.. Nachen-
helm, Sup. Court of Iowa.
So, again, when a note is executed Dy
Two or more parties, any alteration in it
without the consent of all, nOtwithstand-
ing the alteration was entirely honest
and with no fraudulent intent. will be
deemed material one Graighead VS..
McLoney, Sup. Court. Pa, 80 Leg. In !
.el. $50.
In relation to mortgages there always /
las been and always will be difflcultieS.
4 careful man Will never mortgage his |
nome except as a last resort to raise /
money for legitimate purposes. In this
a peculiar system of mort !
gaging farms in Switzerland will be in
eTesting \ farmer may borrow of a
lozen or more men successively, and the
simple record in an official book showing
heir order. If he falls to pay, a success /
;Or is found for him by beginning at the
bottom of the list of debtors. and calling
IN each in his order to assume all the
iebts and manage the farm, or step
aside and lose his claim.