The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1906-04-30
WOMEN IN BUSINESS
LEGAL TERMS ALL OF THEM
SHOULD UNDERSTAND.
Explanation Of Power OF Attorney p
Protesting Draft, "Collateral,"
Etc How to Take Out Fire In
surance Policy--Eental Leases
Duties Of Club Treasurer.
BY KATHERINE LOUISE SMITH.

some are readily understood and,
stripped OF their legal verbiage, can be
simply explained. Take, for instance,
the expression Power Of attorney"
Miss A. Is told she had better give
power OF attorney to some one during
her protracted absence from home.
Miss A. is inexperienced, and the
term power Of attorney suggests busi-
ness technicalities she does not under
stand. In reality. all that is meant
Is that she empowers some one to sign
papers and look after her business
during her absence. Or, the situation
may be reversed and woman may be
given power Of attorney. This is often
done in the case of infirm or aged pa
rents. Possessing such power, when
she signs or indorses paper for the
other party, she writes that persons
name, followed by her own name
with. the word Attorney"
Often woman Is administrator Of
an estate, treasurer. trustee, or in
some capacity where money is intrust-
ed to her care. In this event she
should keep the funds of the estate or
organization entirely separate from
her own and should deposit them in
the Dank under her own name with
the title Of the Office she holds affixed.
For instance. Mary r. Condit Is treas
urer for the old ladies home Of Phoen-
TX, Ariz. AS such. she handles money
belonging to this institution. She
should deposit this under the head
Mary r. Condit. treasurer OF old ladies'
home, Phoenix, Ariz.. and in draw
ing checks should sign them in the
same way OF course, she is RESPONSE
BILE for every cent that passes through
her hands and her cancelled checks
serve as vouchers for money expended.
what Is meant by the word pro
tested?'" had a draft come back
to me with that word written across
the back?" Miss A. l.. B.
Either a check or draft may be
protested. 1t is in reality formal
statement Of bank. or person, given
power to protest by the state CASUALLY
a notary public) that the paper was
for payment and refused. |
To have note protested is an injury |
to business man or woman. In some |
states where there is an indorser to |
the note, 1t is necessary to have the
note protested and notice Of protest
mailed to the indorser In order to
make him liable for its payment. |
Often on the back of note is written
notice Of protest waived" above the
name Of the indorser and In this case
t Is not necessary to protest In order
o make the indorser liable If the
maker does not pay.
"How shall | take out a fire insur-
lnce policy on my property? A House
owner
Apply to the agent of some respon-
ible fire insurance company. Have
he policy made out in your name II
-ou are the legal owner. Notice what
he policy Gays about property that is
eft vacant or without care taker.
I your property becomes vacant, no
ify the agent at once. You can insure
a more than one company, but any
ompany should be told Of insurance
ou are holding at the time. This Is
0 prevent the issuance of insurance
0 more than the value of the property.
"If rent home, what Is meant by
ten days notice." weeks notice."
tc? Interested Reader"
Usually lease is drawn up for
ertain length Of time. agreed upon by
he landlord and tenant. For in
lance, lease may read that the ten
Mt can occupy premises until they
re sold, or that the length OF the term
lay be renewed for a certain time
enerally, In every agreement some
ate is selected as fixing the end Of
ie tenancy. When lease reads sub
ct to SO many days notice, the mean
IL Is so many days notice before the
st day Of the lease expires. II your
ase expires December 81, at midnight.
i'd you have clause to the effect
at you are to give two weeks notice,
,u should give the notice on Decem-
'r Is. The position Of landlord and
nant is often a difiicult one. Land
rds should remember that property
spt In good repair obtains a good
ass Of tenants, and that frequent
Ianges in tenants are detrimental
i the other hand. some tenants are !
terly regardless OF others property {
i'd lax about paying rent AS a rule,
is better for a woman to pay an
rent five per cent. and let him col e
ct her rent and attend to the prop
ty. Leases should always be read .
ID the terms clearly understood by q
th landlord and tenant, for other
Sc hard feeling and law suits may '
ise. The man who said that for .
ars he had rented houses and con- 4
Tered landlords the meanest people
earth. added that when he owned y
block OF buildings and rented to ten n
Is he came to the conclusion that 4
rants were the meanesk people that