An Act to enact subtitle II, ""Other Commercial Transactions,"" of title 28, ""Commercial Instruments and Transactions,"" of the District of Columbia Code, and for other purposes
PL 88-509 (H.R.11466), enacted 08/30/1964

78 STAT. ] 
PUBLIC LAW 88-509-AUG. 30, 1964 
667 
Public Law 88-509 
AN ACT 
August 30, 1964 
To enact subtitle II, "Other Commercial Transactions", of title 28, "Commer- 
[H. R. II466] 
cial Instruments and Transactions", of tlie District of Columbia Code, and 
for other purposes. 
District of 
Columbia Code. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That the general and 
permanent laws of the District of Columbia, relating to commer- ~'«othe7cVmm'er-
cial instruments and transactions, not embraced in "Subtitle I—Uni- ^j^^ 
J/",^"^^"^' 
form Commercial Code" of title 28, District of Columbia Code, which 
was enacted by Public Law 88-243, are revised, codified, and enacted 
^' ^
*
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as "Subtitle II—Other Commercial Transactions", of title 28, and 
may be cited as "D.C. Code, § 
", as follows: 
SUBTITLE II—OTHER COMMERCIAL 
TRANSACTIONS 
CHAPTEB 
Sec. 
21. ASSIGNMENT FOB BENEFIT OF CREDITORS 
28-2101 
23. ASSIGNMENT OF CHOSEB IN ACTION 
28-2301 
25. BONDS AND UNDERTAKINGS 
28-2501 
27. BUSINESS HOLIDAYS AND COMPUTATION OF T I M E 
28-2701 
29. FIDUCIARY SECURITY TRANSFERS 
28-2901 
31. FRAUDULENT CONVEYANCES 
28-3101 
33. INTEREST AND USURY 
28-3301 
35. 
STATUTE OF FRAUDS 
28-3501 
CHAPTER 21--ASSIGNMENT FOR BENEFIT OF 
CREDITORS 
Sec 
28-2101. Form of assignment. 
28-2102. Extent of assignment—Assets exempt. 
28-2103. Assignee. 
28-2104. Bond of assignee. 
28-2105. Nonperformance by assignee—Trustee. 
2&-2106. Duties of assignee. 
28-2107. Preferences prohibited. 
28-2108. Proceedings for benefit of all creditors. 
28-2109. Assignment to hinder or defraud creditors. 
28-2110. Notice to creditors. 
§ 28-2101. Form of assignment 
In a voluntary assignment for the benefit of creditors, the debtor 
shall annex to the assignment (1) an inventory, under oath or affirma-
tion, of his estate, real and personal, according to the best of his 
knowledge, (2) a list of his creditors, their respective residences and 
places of business, if known, and (3) the amounts of their respective 
demands. 
§ 28-2102. Extent of assignment—Assets exempt 
An assignment vests in the assignee the title to all property, except 
what is legally exempt, belonging to the debtor at the time of making 
the assignment and comprehended within its general terms. The 
inventory annexed to an assignment is not conclusive as to the amount 
of the debtor's estate. 
An assignment for the benefit of creditors does not include or cover 
property exempt from levy or sale on execution unless the exemption 
is expressly waived. The court may direct the manner in which 
exempt property may be ascertained and set aside before a sale by a 
trustee. 
668 
PUBLIC LAW 88-509-AUG. 30, 1964 
[78 STAT. 
§28-2103. Assignee 
Only a resident of the District of Columbia may be an assignee in an 
assignment for the benefit of creditors. His assent shall appear in 
writing in, or at the end of, or indorsed on, the assignment. 
An 
assignment is invalid unless acknowledged and recorded within five 
days after its execution in the land records of the District. A trust 
created by an assignment shall be executed under the supervision 
and control of the United States District Court for the District of 
Columbia. 
§ 28-2104. Bond of assignee 
Immediately upon the filing for record of an assignment for the 
benefit of creditors, the assignee shall execute and file in the clerk's 
office of the United States District Court for the District of Columbia 
his bond to the United States, in an amount and with security to be 
approved by a judge thereof, conditioned for the faithful performance 
of his duties according to law, and the court may from time to time 
require the assignee, or a trustee appointed in his place, to give 
additional security when required by the interests of the creditors. 
§ 28-2105. Non-performance by assignee—Trustee 
If an assignee named in an assignment for the benefit of creditors 
fails or refuses to comply with any of the requirements of sections 
21-2103 and 21-2104, a judge of the District Court may, on the appli-
cation of the assignor or a creditor interested in the assignment, re-
move the assignee and appoint a trustee in his place to execute the 
trusts created by the assignment, who shall give bond as the court may 
require. And the court may accept the resignation of an assignee or 
trustee, and in case of his resignation, death, or removal from the 
District, appoint a trustee in his place. The court, for cause shown, 
on the application of an interested person, may remove an assignee 
or trustee and appoint a trustee in his place, and make and enforce 
all orders necessary to put the newly appointed trustee in possession 
of all property covered by the assignment. Upon the death of an 
assignee or trustee the court may require his executor or administrator 
to settle his account and to deliver over to his successor all property 
belonging to the trust, in default of which the successor may bring 
suit upon the bond of the deceased assignee or trustee or upon the bond 
of the executor or administrator, accordingly as the assignee or 
trustee, executor or administrator is the party in default. 
§ 28-2106. Duties of assignee 
An assignee or trustee, after giving bond, shall collect and take 
into his possession all the property covered by the assignment, and to 
that end he may bring suit in his own name to recover debts due or 
property belonging to the assignor and embraced in the assignment. 
The court may require the assignor to be examined under oath touching 
his property, and may make all orders necessary to prevent any 
fraudulent transfer of or change in the property of the assignor. 
The 
assignee or trustee shall return inventories of the assets coming to his 
hands and, upon the direction of the court, sell and dispose of them; 
and his conveyance of any property of the assignor, real or personal, 
transfers the entire title of the assignor therein to the purchaser. 
When the assets have been converted into money the assignee or trustee 
shall settle his accounts and make distribution among the creditors, 
under the direction of the court, according to the usual course of pro-
ceeding in creditor's suits. 
78 STAT. ] 
PUBLIC L
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669 
§28-2107. Preferences prohibited 
A provision in a voluntary assignment made for the payment of 
one debt or liability in preference to another is void, and all debts 
and liabilities within the provisions of the assignment shall be paid 
pro rata from the assets. This section does not affect the priority of 
liens and incumbrances created bona fide and existing before the execu-
tion of the assignment. 
§ 28-2108. Proceedings for benefit of all creditors 
A proceeding instituted under this chapter by one or more credi-
tors is deemed to be for the equal benefit of all creditors, but the court 
may make such allowance to the creditor or creditors instituting the 
same, out of the fund to be distributed, for expenses, including counsel 
fees, as may be just and equitable. 
§ 28-2109. Assignment to hinder or defraud creditors 
This chapter does not prevent a creditor otherwise entitle from 
attacking an assignment as made to hinder or defraud the creditors 
of the assignor. When the court finds an assignment to have been 
made with that intent, it may enjoin any proceedingstliereunder, and 
upon finally decreeing the assignment to be void may appoint a trustee 
with power to take possession of all the property of the debtor, and 
may make and enforce all orders necessary to put him in possession of 
the property. The trustee shall qualify in the same manner and per-
form the same duties as the trustees provided for by this chapter. 
§28-2110. Notice to creditors 
The court shall require a trustee,. whether named in the assign-
ment or appointed by the court, in pursuance of this chapter, to give 
notice as tne court may think proper to all the creditors of the assignor 
to produce and prove their respective claims against the assignor be-
fore the auditor of the court, to the end that they may be fairly adjudi-
cated and the creditors may share equally the assets of the insolvent 
assignor, subject, however, to any legal priorities created by valid in-
cumbrances antedating the assignment. 
CHAPTER 2»-ASSIGNMENT OF CHOSES IN ACTION 
Sec. 
28-2301. Assignment of judgment or money decree. 
28-2302. Assignment of bond or obligation. 
28-2303. Assignment of nonnegotiable contract. 
28-2304. General assignments including choses in action. 
28-2305. Contract to assign future salary or wages. 
§ 28-2301. Assignment of judgment or money decree 
A judgment or money decree may be assigned in writing, and upon 
the assignment thereof oeing filed in the clerk's office the assignee may 
maintain an action or sue out an execution on the judgment in his own 
name, as the original plaintiff might have done. 
§ 28-2302. Assignment of bond or obligation 
An obligee named in a bond or obligation under seal for the payment 
of money may assign it in writing and the assignee may maintain an 
action thereon in his own name. 
§ 28-2303. Assignment of nonnegotiable contract 
An owner of a nonn^otiable written agreement for the payment of 
money, including a nonnegotiable bill of exchange and a promissory 
note, or for the delivery or personal property, an open account, debt, 
and demand of a liquidated character, except a claim against the 
United States or the salary of a public officer, may assign it in writing, 
and the assignee may maintain an action thereon in his own name. 
670 
PUBLIC L
A
W 88-509-AUG. 30, 1964 
[78 STAT. 
§ 28-2304. General assignments including choses in action 
In a general assignment which includes choses in action, it is not 
necessary to execute a separate assignment of each chose in action, but 
the assignee, by virtue of the general assignment, may sue in his own 
name on the several choses in action included therein. 
§28-2305. Contract to assign future salary or wages 
(a) A contract attempting or purporting to transfer or assign 
salary or wages to be earned by the debtor, if made in the District of 
Columbia, is invalid and contrary to public policy and unenforceable, 
and if made outside the District of Columbia, is unenforceable in any 
court within the District of Columbia. 
(b) Whoever, in the District of Columbia demands or receives from 
a debtor an assignment of salary or wages to be thereafter earned by 
the debtor, or notifies an employer that he holds an assignment of such 
salary or wages, upon conviction shall be fined not more than $200 or 
imprisoned not more than sixty days. Prosecutions under this subsec-
tion shall be upon information filed in the Criminal Division of the 
District of Columbia Court of General Sessions by the Corporation 
Counsel of the District of Columbia or one of his assistants. 
CHAPTER 
25—BONDS 
AND 
UNDERTAKINGS 
Sec. 
28-2501. Definitions. 
28-2502. Action on bond in a penal sum containing an avoidance condition. 
28-2503. Action on bond to United States—Interest by private person. 
28-2504. Fiduciary's bond—Discliarge only after accounting. 
§28-2501. Definitions 
A bond, when required by or referred to in this Code, means an ob-
ligation in a certain sum or penalty, subject to a condition, on breach 
of which it is to become absolute and enforceable by action. 
An undertaking means an agreement entered into by a party to a 
suit or proceeding, with or without sureties, upon which a judgment 
or decree may be rendered in the same suit or proceeding against the 
party and his sureties, if any, the party and sureties submitting them-
selves to the jurisdiction of the court for that purpose. 
§28-2502. Action on bonds in a penal sum containing an avoid-
ance condition 
A bond in a penal sum, containing a condition that it shall be void 
on the payment of a certain sum of money, or the performance of an 
act or of certain duties, has the same effect for the purpose of main-
taining an action upon it as if it contained a covenant to pay the money 
or perform the act or the duties specified in the condition. But the 
damages to be recovered for a breach, or successive breaches, of the 
condition, as against the sureties therein, may not exceed the penalty 
of the bond. 
§28-2503. Action on bond to United States—Interest by private 
person 
When a bond is executed to the United States bjr a fiduciary or public 
officer, conditioned for the performance of certain duties, m the per-
formance of which private persons are interested, a person aggrieved 
by a breach of the condition may maintain an action thereon in his 
own name against the obligor and his sureties to recover damans 
for the injury suffered by nim in consequence of the breach. The 
custodian of the bond shall furnish a certified copy thereof to the 
party for that purpose on payment of the legal fees therefor. 
78 STAT. ] 
PUBLIC LAW 88-509-AUG. 30, 1964 
671 
§ 28-2504. Fiduciary's bond—Discharge only after accounting 
A person appointed by order or decree of the court to a fiduciary 
office may not discharge his bond for the due performance of his 
duties, by receipts, releases, or acquittances from himself, as attorney 
for parties interested, to himself as fiduciary; but the funds or estate 
for the application whereof he is responsible shall be considered as 
remaining in his hands, and the bond shall continue in force as against 
both principal and sureties until the funds or estate are fully accounted 
for and paid over or delivered to the parties interested therein, or their 
attorney, other than himself. 
CHAPTER 27—BUSINESS HOLIDAYS AND COMPUTATION 
OF TIME 
SUBCHAPTER I—BUSINESS HOLIDAYS 
Sec. 
28-2701. Holidays designated—Time for performing acts extended. 
SUBCHAPTER II—COMPUTATION OF TIME 
2&-2711. Dayliglit-saving time. 
Subchapter I—Business Holidays 
§28-2701. Holidays 
designated—Time 
for 
performing 
acts 
extended 
The following days in each year, namely, the first day of January, 
commonly called New Year's Day; the twenty-second day of Febru-
ary, known as Washington's Birthday; the Fourth of July; the 
thirtieth day of May, commonly called Decoration Day; the first Mon-
day in September, known as Labor Day; the twenty-fifth day of De-
cember, commonly called Christmas Day; every Saturday, after twelve 
o'clock noon; any day appointed or recommended by the President of 
the United States as a day of public feasting or thanksgiving, and 
the day of the inauguration of the President, in every fourth year are 
holidays in the District for all purposes. When a day set apart as a 
legal holiday falls on Sunday the next succeeding day is a holiday. 
In such cases, and when a Sunday and a holiday fall on successive 
days, all commercial paper falling due on any of those days shall, for 
all purposes of presenting for payment or acceptance, be deemed to ma-
ture and be presentable for payment or acceptance on the next secular 
business day succeeding. Every Saturday is a holiday in the District 
for (1) every bank or banking institution having an office or banking 
house located within the District, (2) every Federal savings and loan 
association whose main office is in the District, and (3) every build-
ing association, building and loan association, or savings and loan 
association, incorporated or unincorporated, organized and operating 
under the laws of and having an office located within the District. An 
act which would otherwise be required, authorized, or permitted to 
be performed on Saturday in the District at the office or banking house 
of, or by, any such bank or bank institution. Federal savings and loan 
association, building association, building and loan association, or 
savings and loan association, if Saturday were not a holiday, shall or 
may be so performed on the next succeeding business day, and liability 
or loss of rights of any kind may not result from such delay. 
672 
PUBLIC LAW 88-509-AUG. 30, 1964 
[78 STAT. 
Subchapter II—Computation of Time 
§28-2711. Daylight-saving time 
The Board of Commissioners of the District of Columbia may ad-
vance the standard time applicable to the District one hour for the 
period commencing not earlier than the last Sunday of April and 
ending not later than the last Sunday of October, of each year. Any 
such time established by the Commissioners under the authority of this 
section, during the period of the year for which it is applicable, is the 
standard time for the District of Columbia. 
CHAPTER 29—FIDUCIARY SECURITY TRANSFERS 
Sec. 
28-2901. Definitions. 
28-2902. Registration in name of fiduciary. 
28-2903. Assignment by fiduciary. 
28-2904. Evidence of appointment of incumbency. 
28-2905. Adverse claims. 
28-2906. Nonliability of corporation and transfer agent. 
28-2907. Nonliability of third persons. 
28-2908. Territorial applicability. 
28-2909. Tax obligations, 
§28-2901. Definitions 
In this chapter, unless the context otherwise requires: 
(1) "assignment" includes a written stock power, bond power, 
bill of sale, deed, declaration of trust or other instrument of 
transfer; 
(2) "claim of beneficial interest" includes a claim of any inter-
est by a decedent's legatee, distributee, heir or creditor, a benefi-
ciary under a trust, a ward, a beneficial owner of a security regis-
tered in the name of a nominee, or a minor owner of a security 
registered in the name of a custodian, or a claim of a similar 
interest, whether the claim is asserted by the claimant or by a 
fiduciary or by any other authorized person on his behalf, and in-
cludes a claim that the transfer would be in breach of fiduciary 
duties; 
(3) "corporation" means a private or public corporation, asso-
ciation or trust issuing a security; 
(4) "fiduciary" means an executor, administrator, trustee, 
guardian, committee, conservator, curator, tutor, custodian, or 
nominee; 
(5) "person" includes an individual, a corporation, govern-
ment or governmental subdivision or agency, business trust, estate, 
trust, partnership or association, two or more persons having a 
joint or common interest, or other legal or commercial entity; 
(6) "security" includes a share of stock, bond, debenture, note 
or other security issued by a corporation which is registered as 
to ownership on the books of the corporation; 
(7) "transfer" means a change on the books of a corporation 
in the registered ownership of a security; 
(8) "transfer agent" means a person employed or authorized 
by a corporation to transfer securities issued by the corporation. 
§ 28-2902. Registration in name of a fiduciary 
A corporation or transfer agent registering a security in the name 
of a person who is a fiduciary or who is described as a fiduciary is not 
bound to inquire into the existence, extent, or correct description of 
the fiduciary relationship, and thereafter the corporation and its 
transfer agent may assume without inquiry that the newly registered 
owner continues to be the fiduciary until the corporation or transfer 
78 STAT. ] 
PUBLIC LAW 88-509-AUG. 30, 1964 
673 
agent receives written notice that the fiduciary is no longer acting as 
such with respect to the particular security. 
§ 28-2903. Assignment by fiduciary 
Except as otherwise provided by this chapter, a corporation or 
transfer agent making a transfer of a security pursuant to an assign-
ment by a fiduciary: 
(1) may assume without inquiry that the assi^ment, even 
though to the fiduciary himself or his nominee, is within his 
authority and capacity and is not in breach of his fiduciary duties; 
(2) may assume without inquiry that the fiduciary has com-
plied with any controlling instrument and with the law of the 
jurisdiction governing the fiduciary relationship, including any 
law requiring the fiduciary to obtain court approval of the trans-
fer; and 
(3) is not charged with notice of and is not bound to obtain or 
examine any court record or recorded or unrecorded document 
relating to the fiduciary relationship or the assignment, even 
though the record or document is in its possession. 
§ 28-2904. Evidence of appointment of incumbency 
A corporation or transfer a^ent making a transfer pursuant to an 
assignment by a fiduciary who is not the registered owner shall require 
the following evidence of appointment or incumbency: 
(1) in the case of a fiduciary appointed or qualified by a court, 
a certificate issued by or under the direction or supervision of 
the court or an officer thereof, and dated within sixty days before 
the transfer; or 
(2) in any other case, a copy of a document showing the 
appointment or a certificate issued by or on behalf of a person 
reasonably believed by the corporation or transfer agent to be 
responsible or, in the absence of such a document or certificate, 
other evidence reasonably deemed by the corporation or transfer 
agent to be appropriate. Corporations and transfer agents may 
adopt reasonable standards with respect to evidence of appoint-
ment or incumbency under this subsection. Neither the corpora-
tion nor transfer agent is charged with notice of the contents 
of any document obtained pursuant to this subsection except to the 
extent that the contents relate directly to the appointment or 
incumbency. 
§ 28-2905. Adverse claims 
(a) A person asserting a claim of beneficial interest adverse to the 
transfer of a security pursuant to an assignment by a fiduciary may 
notify in writing tne corporation or transfer agent of the claim. 
The corporation or transfer agent is not put on notice unless the 
written notice (1) identifies the claimant, the registered owner, and the 
issue of which the security is a ;part, (2) provides an address for com-
munications directed to the claimant, and (3) is received before the 
transfer. 
This chapter does not relieve the corporation or transfer 
agent of any liability for making or refusing to make the transfer after 
it is so put on notice, unless it proceeds in the manner authorized by 
subsection (b). 
(b) As soon as practicable after the presentation of a security for 
transfer pursuant to an assignment by a fiduciary, a corporation or 
transfer agent which has received notice of a claim of beneficial inter-
est adverse to the transfer may send notice of the presentation by 
registered or certified mail to the claimant at the address ^iven by him. 
If the corporation or transfer agent so mails such a notice it shall with-
hold the transfer for thirty days after the mailing and shall then make 
the transfer unless restrained by a court order. 
674 
PUBLIC LAW 88-509-AUG. 30, 1964 
[78 STAT. 
§ 28-2906. Nonliability of corporation and transfer agent 
A corporation or transfer agent does not incur liability to any person 
by making a transfer or otherwise acting in a manner authorized by 
this chapter. 
§ 28-2907. Nonliability of third persons 
(a) A person who participates in the acquisition, disposition, assign-
ment or transfer of a security by or to a fiduciary including a person 
who guarantees the signature oi the fiduciary is not liable for partic-
ipation in any breach of fiduciary duty by reason of failure to inquire 
whether the transaction involves such a breach unless it is shown 
that he acted with actual knowledge that the proceeds of the trans-
action were being or were to be used wrongfully for the individual 
benefit of the fiduciary or that the transaction was otherwise in breach 
of duty. 
(b) When a corporation or transfer agent makes a transfer pursuant 
to an assignment by a fiduciary, a person who guaranteed the sig-
nature of the fiduciary is not liable on the guarantee to any person to 
whom the corporation or transfer agent by reason of this chapter 
incurs no liability. 
(c) This section does not impose any liability upon the corporation 
or its transfer agent. 
§ 28-2908. Territorial application 
(a) The rights and duties of a corporation and its transfer agents 
in registering a security in the name of a fiduciary or in making a 
transfer of a security pursuant to an assignment by a fiduciary are gov-
erned by the law of the jurisdiction under whose laws the corporation 
is organized. 
(b) This chapter applies to the rights and duties of a person other 
than the corporation and its transfer agents with regard to acts and 
omissions in the District of Columbia in connection with the acquisi-
tion, disposition, assignment or transfer of a security by or to a 
fiduciary and of a person who guarantees in the District of Columbia 
the signature of a fiduciary in connection with such a transaction. 
§ 28-2909. Tax obligations 
This chapter does not affect any obligation of a corporation or trans-
fer agent with respect to estate, inheritance, succession, or other taxes 
imposed by the laws of the District of Columbia. 
CHAPTER 
31—FRAUDULENT 
CONVEYANCES 
Sec. 
28-3101. Intent to defraud creditors. 
28-3102. Intent to defraud purchasers. 
28-3103. Fiduciaries' suit to vacate fraudulent transaction. 
§ 28-3101. Intent to defraud creditors 
A conveyance or assignment, in writing or otherwise, of an estate 
or interest in land or its rents and profits, or in goods or things in 
action, and a charge upon the same, and a bond or other evidence of 
debt given, or judgment or decree suffered, with the intent to hinder 
or defraud persons having just claims or demands, of their lawful 
suits, damages, or demands, is void as against the persons so hindered 
or defrauded. 
This section does not affect the title of a purchaser for value, unless 
it appears that he had previous notice of the fraudulent intent of 
his immediate grantor, or of the fraud rendering void the title of 
the grantor. The question of fraudulent intent is a question of fact 
and not of law. 
78 STAT.] 
PUBLIC LAW 88-509-AUG. 30, 1964 
675 
§ 28-3102. Intent to defraud purchasers 
A conveyance of an estate or interest in land, or its rents and profits, 
and a charge upon the same, made or created with the intent to de-
fraud prior or subsequent purchasers for a valuable consideration of 
the same lands, rents, or profits, are void, as against the purchasers. 
Such a conveyance or charge is not deemed fraudulent in favor of a 
subsequent purchaser who has actual or legal notice thereof at the 
time of his purchase, unless it appears that the grantee in the con-
veyance, or the person to be benefited by the charge, was privy to the 
fraud intended. 
§28-3103. Fiduciary's suit to vacate fraudulent transaction 
An executor, administrator, receiver, assignee, or trustee of an es-
tate, or of the property and effects of an insolvent estate, corporation, 
association, partnership, or individual, may, for the benefit of cred-
itors and others interested in the estate or property so held in trust, 
disaffirm, treat as void, and resist all acts done, transfers, «nd agree-
ments made in fraud of the rights of a creditor, including themselves 
and others interested in an estate or property held by or of right be-
longing to him or the estate. Whoever, in fraud of the rights oi credi-
tors and others receives, takes, or in any manner interferes with the 
estate, property, or effects of a deceased person or insolvent corpora-
tion, association, partnership, or individual is liable, in the proper 
action, to the executors, administrators, receivers, or trustees of the 
estate or property for the same, or the value of any property or effects 
so received or taken, and for all damages caused by such acts to the 
trust estate. 
CHAPTER 33—INTEREST AND USURY 
Sec. 
28-3301. Rate of interest expressed in contract. 
28-3302. Rate of interest not expressed and on judgments. 
28-3303. Usury defined. 
28-3304. Action to recover usury paid. 
28-3305. Unlawful interest credited on principal debt. 
28-3306. Parties compelled to testify. 
§ 28-3301. Rate of interest expressed in contract 
The parties to an instrument in writing for the payment of money 
at a future time may contract therein for the payment of interest on the 
principal amount thereof at any rate not exceeding 8 percent per 
annum. 
§ 28-3302. Rate of interest not expressed and on judgments 
The rate of interest in the District upon the loan or forbearance of 
money, goods, or things in action, and the rate to be allowed in judg-
ments and decrees, in the absence of express contract, is 6 percent per 
annum. Interest, when authorized by law, on judgments against the 
District of Columbia, is at the rate of not exceeding 4 percent per 
annum. 
§ 28-3303. Usury defined 
If a person or corporation contracts in the District, 
(1) verbally, to pay a greater rate of interest than 6 percent per 
annum, or 
(2) in writing, to pay a greater rate than 8 percent per annum, 
the creditor shall forfeit the whole of the interest so contracted to 
be received. 
This section does not affect sections 26-601 to 26-611. 
3
7 stat. es?. 
676 
PUBLIC LAW 88-509-AUG. 30, 1964 
[78 STAT. 
§ 28-3304. Action to recover usury paid 
If a person or corporation in the District directly or indirectly takes 
or receive a greater amount of interest than is declared by this 
chapter to be lawful, whether in advance or not, the person or corpora-
tion paying the same may within one year after the date of payment 
sue for and recover the amount of the unlawful interest so paid. 
§ 28-3305. Unlawful interest credited on principal debt 
In an action upon a contract for the payment of money with interest 
at a rate forbidden by law, any payment of interest that may have 
been made on account of the contract is deemed to be payment made 
on account of the principal debt; and judgment shall be rendered for 
no more than the balance found due after deducting and properly 
crediting the interest so paid. A bona fide indorsee of negotiable paper 
purchased before due is not affected by any usury exacted by a former 
holder of the paper unless he had notice of the usury before his pur-
chase. 
§ 28-3306. Parties compelled to testify 
When in an action to recover a debt the defendant claims that 
payment of unlawful interest on the debt has been made to the plaintiff 
or those under whom he claims, which the defendant is entitled to 
have credited on the principal of the debt, the plaintiff or the party 
who received the unlawful interest may be examined as a witness to 
prove the payment, and may not be excused from testifying in relation 
thereto. A creditor who is made defendant in a proceeding for dis-
covery as to payments of unlawful interest made to him may not be 
excused from answering. 
CHAPTER 
35—STATUTE 
OF 
FRAUDS 
Sec. 
28-3501. Estate created otherwise than by deed. 
28-3502. Special promise to answer for debt or default of another. 
28-3503. Declaration, grant, and assignment of trust. 
28-350i. New promise or acknowledgment of contract—Action against joint 
contractors. 
28-35Q5. New promise or aclinowledgment of debt incurred during infancy. 
§ 28-3501. Estate created otherwise than by deed 
An estate, attempted to be created for a greater term than one year 
in real estate, other than by deed, is an estate by sufferance. 
§28-3502. Special promise to answer for debt or default of an-
other 
An action may not be brought to charge an executor or administrator 
upon a special promise to answer damages out of his own estate, or 
to charge the defendant upon a special promise to answer for the debt, 
default, or miscarriage of another person, or to charge a person upon 
an agreement made upon consideration of marriage, or upon a contract 
or sale of real estate, of any interest in or concerning it, or upon 
an agreement that is not to be performed within one year from the 
making thereof, unless the agreement upon which the action is 
brought, or a memorandum or note thereof, is in writing, which 
need not state the consideration, and signed by the party to be charged 
therewith or a person authorized by him. 
§ 28-3503. Declaration, grant, and assignment of trust 
A declaration or creation of trust or confidence of real estate which 
is not in writing, signed by the party who is by law enabled to declare 
the trust or by his last will in writing, is void. 
78 STAT.] 
PUBLIC LAW 88-509-AUG. 30, 1964 
677 
A grant or assignment of a trust or confidence which is not in 
writing, signed by the party granting or assigning it, or by his last 
will, is void. 
Where a conveyance is made of real estate by which a trust or 
confidence is or may arise or result by the implication or construction 
of law, or is transferred or extinguished by an act or operation of law, 
the trust or confidence is of the same effect as it would have been if 
this section had not been enacted. 
§ 28-3504. New promise or acknowledgement of contract—Action 
against joint contractors 
In an action upon a simple contract, an acknowledgement or promise 
by words only is not sufficient evidence of a new or continuing contract 
whereby to take the case out of the operation of the statute of limita-
tions or to deprive a party of the benefit thereof unless the acknowl-
edgement or promise is in writing, signed by the party chargeable 
thereby. This section does not alter or take away, or lessen the effect of 
a payment of principal or interest made by any person. In actions 
against two or more joint contractors, or executors, or administrators, 
if it appears at the trial, or otherwise, that the plaintiff, though barred 
by the statute of limitations as to one or more of the defendants, is 
nevertheless entitled to recover against any other defendant by virtue 
of a new acknowledgement or promise or otherwise, judgment may be 
given for the plaintiff as to that defendant. An indorsement or mem-
orandum of a payment written or made upon a promissory note, bill 
of exchange, or other writing, by or on behalf of the party to whom 
the payment is to be made, is sufficient proof of the payment so as to 
take the case out of the operation of the statute of limitations. 
§28-3505. New promise or acknowledgement of debt incurred 
during infancy 
An action may not be maintained to charge a person upon an 
acknowledgement of, or promise to pay, a debt contracted during 
infancy, made after full age, except for necessaries, unless the ac-
knowledgement or promise is in writing signed by the party to be 
charged therewith. 
This section does not affect ratification by conduct. 
SEC. 2. Section 12-301 of the District of Columbia 0)de is amended 
77 stat. sio. 
by adding the following paragraph at the end: 
"This section does not apply to actions for breach or contracts for 
sale governed by § 28:2-725." 
" ^'^'- ^•'°-
SEC. 3. (a) Section 15-106(e) of the District of Columbia Code is ^7 stat. 523. 
amended by striking out "28-2405" and inserting "28-2502". 
AnL^^^^' ^''^^' 
(b)(1) Subchapter I of chapter 1, title 15 of the District of " ^'^' 
Columbia Code, is amended by adding the following new sections: 
"§ 15-108. Interest on judgment for liquidated debt 
"In an action in the United States District Court for the District of 
Columbia to recover a liquidated debt on which interest is payable by 
contract or by law or usage the judgment for the plaintiff shall include 
interest on the principal debt from the time when it was due and pay-
able, at the rate fixed by the contract, if any, until paid. 
"§ 15-109. Interest on judgment for damages in contract or tort 
"In an action to recover damages for breach of contract the judg-
ment shall allow interest on the amount for which it is rendered from 
the date of the judgment only. This section does not preclude the jury, 
or the court, if the trial be by the court, from including interest as an 
element in the damages awarded, if necessary to fully compensate the 
plaintiff. In an action to recover damages for a wrong the judgment 
for the plaintifl' shall bear interest. 
77 stat. 522. 
678 
PUBLIC L
A
W 88-509-AUG. 30, 1964 
[78 STAT. 
*'§ 15-110. Interest on judgment on contracts made elsewhere 
"In an action on a contract for the payment of a higher rate of in-
terest than is lawful in the District, made or to be performed in a State 
or territory of the United States where such a contract rate of interest 
is lawful, the judgment for the plaintiff shall include the contract in-
terest to the date of the judgment and interest thereafter at the rate 
of 6 per cent per annum until paid. 
'^§ 15-111. Counsel fee in proceeding on bond or undertaking 
"In a proceeding in the United States District Court for the District 
of Columbia to recover damages upon a bond or undertaking given to 
obtain a restraining order or preliminary or pendente lite injunction, 
the Court, in assessing damages to be recovered thereunder, may in-
clude such reasonable counsel fees as the party damaged by the 
restraining order or injunction may have incurred in obtaining a dis-
solution thereof." 
(2) The analysis of subchapter I of chapter 1, title 15 of the District 
of Columbia Code, preceding § 15-101 is amended by adding: 
"15-108. Interest on judgment for liquidated debt. 
"15-100. Interest on judgment for damages in contract or tort. 
"15-110. Interest on judgment on contracts made elsewhere. 
"15-111. Counsel fee in proceeding on bond or undertaking." 
7
7 Stat. 557. 
(c) (1) Title 16 of the District of Columbia Code is amended by 
inserting the following to precede chapter 7: 
"CHAPTER fr-BONDS AND UNDERTAKINGS 
"Sec. 
"16-601. Undertaliing in lieu of fiduciary's bond. 
"§ 16-601. Undertaking in lieu of fiduciary's bond 
"A bond required from an executor, administrator, administrator 
cum testamento annexo, administrator de bonis non, guardian, com-
mittee, collector, trustee, receiver, assignee for the benefit of creditors, 
or other fiduciary appointed or confirmed by the United States Dis-
trict Court for the District of Columbia, or a judge thereof, or a bond 
required from a party to a cause or proceeding pending in that court, 
shall be in the form of an undertaking, under seal, m a maximum 
jimount to be fixed by the court, conditioned as required by law, the 
surety or sureties therein submitting themselves to the jurisdiction of 
the court and undertaking for themselves and each of them, their and 
each of their heirs, executors, administrators, successors, and assigns 
to abide by and perform the judgment or decree of the court in the 
premises; and further agreeing that, upon default by the principal in 
any of the conditions thereof, the damages may be ascertained in such 
manner as the court directs and the court may ^ive judgment thereon 
in favor of any person therebj^ aggrieved against the principal and 
sureties for the damages sustained by him, and that judgment may 
be rendered against all or any of the parties whose names are thereto 
signed. 
"The United States District Court for the District of Columbia has 
jurisdiction to enter such judgments and decrees against the principal 
and surety or sureties, or any of them, upon the undertaking, as law 
and justice require. This section does not deprive a party having a 
claim or cause of action under or upon the undertaking from electing 
to pursue his ordinary remedy by civil suit. 
"The provisions of this Code relating to actions, remedies and pro-
ceedings upon bonds of fiduciaries apply to such undertakings to the 
same extent as if undertaking had been expressly mentioned and re-
ferred to therein." 
78 STAT.] 
PUBLIC LAW 88-509-AUG. 30, 1964 
679 
(2) The analysis preceding chapter 1 of title 16 of the District of 
Columbia Code is amended by inserting after 
"5. Attachment and Garnishment 
16-^501" 
the following new item: 
"6. Bonds and Undertakings 
16-601" 
SEC. 4. The last sentence of clause 27 of § 28:1-201, is amended to 
^^ ^*^*- ^^'^^ 
read: 
"Due diligence does not require an individual acting for the orga-
nization to communicate information unless the communication is part 
of his regular duties or unless he has reason to know of the transaction 
and that the transaction would be materially affected by the infor-
mation." 
SEC. 5. The first sentence of clause (1) (a) of § 28:3-501, is amended 
^7 stat. es?. 
to read: "(a) presentment for acceptance is necessary to charge the 
drawer and indorsers^ of a draft where the draft so provides, or is 
payable elsewhere than at the residence or place of business of the 
drawee, or its date of payment depends upon such presentment." 
SEC. 6. There are authorized to be appropriated such sums as may be authorTJL'^ki^n"" 
necessary to carry out the provisions of subtitle I I of title 28, District 
of Columbia Code, as set out in section 1 of this Act. 
SEC. 7. This Act takes effect on January 1,1965. 
Effective date. 
SEC. 8. (a) The following British statutes, deemed to have been in 
force in the District of Columbia by virtue of the Act of Mar. 1,1901, 
ch. 854, sec. 1, have no further force, as such, in the District: 
n^f^*^"i^^^' 
21 Henry I I I (1236), Alex. Brit. Stat, p. 36, D.C. Code, 1961 ed., 301 
" ^^' 
§ 28—2803 * 
24 Geo. II, ch. 23, §§ 1, 2 (1751), Alex. Brit. Stat., pp. 768-770, D.C. 
Code, 1961 ed., §§ 28-2801,28-2802. 
(b) The sections of the Acts or parts of Acts, enumerated in the 
Repeals. 
schedule below, are repealed. Any rights or liabilities existing under 
the sections so repealed, and any cases or proceedings instituted under, 
or growing out of them, are not affected by the repeal. However, laws 
becoming effective after June 1, 1964, and inconsistent with this Act, 
supersede it to the extent of the inconsistency. 
31-667 0-65—46 
680 
PUBLIC LAW 88-509-AUG. 30, 1964 
[78 STAT. 
statutes 
at 
Large 
Date 
Chapter 
Section 
Volume 
D.C. 
Code—1961 
ed., 
section 
1901—Mar. 
3.. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do-
Do. 
Do-
Do. 
Do. 
1902—June 
30. 
Do. 
Do. 
Do. 
Do. 
Do. 
Julyl.. 
1920—Apr. 
19. 
Do. 
Do. 
Do. 
1944—Dec. 
20. 
1946—July 
13. 
1949—May 
2
4
. 
1953—Apr. 
28. 
1956—July 
2.. 
8
6
4 
8
6
4 
8
5
4 
8
6
4 
8
5
4 
8
5
4 
8
6
4 
8
5
4 
8
6
4 
8
5
4 
8
6
4 
8
5
4 
8
5
4 
8
5
4 
864 
8
5
4 
854 
8
5
4 
8
5
4 
8
5
4 
8
5
4 
8
6
4 
8
5
4 
8
6
4 
8
6
4 
8
5
4 
8
6
4 
8
6
4 
8
6
4 
8
5
4 
864 
8
6
4 
854 
8
6
4 
854 
864 
8
5
4 
854 
854 
8
6
4 
1329 
1329 
1329 
1329 
1329 
1329 
1362 
163 
163 
163 
153 
610 
576 
139 
30 
491 
431 
432 
433 
434 
434-A 
436 
436 
437 
438 
439 
440 
441 
442 
443 
444 
478 
479 
479a 
479b 
480 
481 
482 
1116 
1117 
1118 
1120 
1121 
1122 
1178 
1179 
1180 
1181 
1182 
1183 
1184 
1185 
1186 
1271 
1271 
1389 
127 
1256 
1266 
1256 
1266 
3
1 
3
1 
31 
3
1 
31 
3
1 
31 
31 
31 
31 
3
1 
31 
3
1 
3
1 
3
1 
3
1 
3
1 
3
1 
31 
3
1 
31 
31 
3
1 
31 
31 
3
1 
3
1 
3
1 
3
1 
31 
3
1 
1256 
1267 
1257 
1257 
1257 
1258 
1258 
1258 
1258 
1258 
1264 
1266 
1265 
1265 
1265 
1367 
1367 
1367 
1368 
1368 
1368 
1377 
1377 
1377 
1377 
1378 
1378 
1378 
1378 
1378 
1390 
1404 
530 
530 
542 
542 
542 
543 
610 
1564 
'565 
»668 
«568 
819 
534 
107 
23 
482 
28-2601 
28-2602 
28-2603 
28-2604 
28<-2605 
28-2601 
28-2602 
28-2603 
28-2604 
28-2605 
2»-260« 
28-2607 
28-2608 
28-2600 
28-2610 
28-2401 
28-2402 
28-2403 
28-2404 
28-2406 
28-2406 
28-2407 
28-3001 
28-3002 
28-3003 
28-3101 
28-3102 
28-2103 
28-2701 
28-2702 
28-2703 
28-2704 
28-2705 
28-2706 
28-2707 
28-2708 
28-2709 
28-3005 
28-3006 
28-616 
28-2406 
28-2604 
28-2703 
28-2705 
28-3006 
28-616 
28-2701 
28-2403 
28-2404 
28-2702 
28-2703 
28-2605 
28-616 
28-2602 
28-2804 
28-2804 
78 STAT.] 
PUBLIC LAW 88-510-AUG. 30, 1964 
681 
Date 
1960—July 5 
Do 
Do 
Do 
Do 
-
Do 
Do 
Do 
Do 
Do 
Do 
Do 
Public 
Law 
86-584 
86-584 
86-584 
86-584 
8&-584 
86-584 
86-584 
86-584 
86-584 
86-584 
86-584 
86-584 
Section 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 
13 
Volume 
74 
74 
74 
74 
74 
74 
74 
74 
74 
74 
74 
74 
Page 
322 
322 
322 
323 
323 
323 
324 
324 
324 
324 
324 
324 
D.C. Code—1961 
ed., section 
28-2321 
28-2322 
28-2323 
28-2324 
28-2325 
28-2326 
28-2327 
28-2328 
28-2329 
28-2330 
28-2321 note 
28 2321 note 
1 Beginning with line 36 and ending with line 10 on p. 565. 
Approved August 30, 1964. 
' Lines 11-20. ' Lines 27-28. * Lines 29-38. 
Public Law 88-510 
AN ACT 
To authorize the establishment of the Fort Bowie National Historic Site in 
the State of Arizona, and for other purposes. 
August 30„ 1964 
[H. R, 946] 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress assembled,) That the Secretary 
of the Interior is authorized to designate, for preservation as the 
Fort Bowie National Historic Site, the site and remaining historic 
structures of old Fort Bowie, situated in Cochise County, Arizona, 
together with such additional land, interests in land, and improve-
ments thereon, as the Secretary in his discretion may deem necessary 
to accomplish the purposes of this Act: Provided, That the Secretary 
shall designate no more than one thousand acres for inclusion in 
said site. 
SEC. 2. Within the area designated pursuant to section 1 hereof, 
the Secretary of the Interior is authorized, under such terms, 
reservations, and conditions as he may deem satisfactory, to procure 
by purchase, donation, with donated funds, exchange, or otherwise, 
land and interests in land for the national historic site. When the 
historic remains of old Fort Bowie and all other privately owned 
lands within the aforesaid designated area have been acquired as 
provided in this Act, notice thereof and of the establishment of 
the Fort Bowie National Historic Site shall be published in the 
Federal Kegister. Thereupon all public lands within the designated 
area shall become a part of the Fort Bowie National Historic Site. 
SEC. 3. The Fort Bowie National Historic Site, as constituted 
under this Act, shall be administered by the Secretary of the 
Interior as a part of the national park system, subject to the provi-
sions of the Act entitled "An Act to establish a National Park 
Service, and for other purposes", approved August 25, 1916 (39 
Stat. 535), as amended, the Historic Sites Act of August 21^ 1936 (49 
Stat. 666), and all laws and regulations of general application to 
historic areas within the national park system. 
SEC. 4. There is hereby authorized to be appropriated a sum not to 
exceed $550,000 to carry out the purposes of this Act. 
Approved August 30, 1964. 
Fort Bowie 
National His-
toric Site, Ariz. 
Establishment. 
Acquisition of 
land. 
Publication in 
Federal Register. 
Administration. 
16 use 1-4. 
16 use 461-467. 
Appropriation.