REQUIREMENTS AND SPECIFICATIONS IN AN INSURANCE POLICY. 221 the restrictions of his company or the privileges | insured. The insurance companies are also proallowed by it. tected by State laws against frauds by the persons insured. The policy is the contract given by the insurer to the insured. The following is the general form of an insurance policy: Insurance companies and agents are governed by the laws of the several States, so as to prevent frauds from being perpetrated upon the In Consideration of Seventy Dollars, do insure Harry J. Weitzel against loss or damage by fire, to the amount of Five Thousand Dollars; $3,000 on his two-story and basement brick dwelling house, situate No. 976 Ericcson street, Albany, N. Y.; $1,000 on his brick barn in rear of above dwelling: $1,000 on his household furniture, useful and ornamental, beds, bedding, linen, family wearing apparel, printed books and music, silver plate and plated ware, paintings, engravings, and their frames, at not exceeding their cost, piano, sewing-machine, fuel and family stores contained in above brick dwelling house and barn, for one year, to wit: from the twenty-third day of November, 1881, at 12 o'clock noon, to the twenty-third day of November, 1882, at 12 o'clock noon. 1. Warranty of the assured - The assured by the acceptance of this policy hereby warrants that any application, survey, plan, statement or description, connected with procuring this insurance, or contained in, or referred to in this policy, is true, and shall be a part of this policy; that the assured has not overvalued the property herein described, nor omitted to state to this company any information material to the risk; and this company shall not be bound under this policy by any act of, or statement to, or by any agent or other person, which is not contained in this policy or in any written paper above mentioned. It is also a part of this warranty that if the policy shall be continued by renewal, it shall be considered as continued under the original representa tions; and that any change in the risk, not made known to this company at the time it is so continued, shall render this policy void. 2. Why this policy will become void - This policy shall become void, unless consent in writing is endorsed by the company hereon, in each of the following instances, viz.: If the assured is not the sole and unconditional owner of the property; or the building herein described stand on ground not owned in fee simple by the assured; or if the interest of the assured in the property, whether as owner, trustee, consignée, factor, agent, mortgagee, lessee, or otherwise, is not truly stated in this policy; or if any change take place in the title, interest, location or possession of the property (except in case of succession by reason of the death of the assured), whether by salé, transfer or conveyance, in whole or in part, or by legal process or by judicial decree, or the title or possession be now or hereafter become involved in litigation, or if this policy be assigned or transferred before a loss. 2. If the assured have or shall hereafter obtain any other policy or agreement for insurance, whether valid or not, on the property above mentioned, or any part thereof. 3. If the risk be increased by any change in the occupation of the building or premises herein described, or by the erection or occupation of adjacent buildings; or by any means whatever within the knowledge of the assured. 4. If any building herein described be or become vacant or unoccupied for the purposes indicated in this contract. 5. If the property herein described, being a manufacturing establishment, shall be run at night or overtime, or shall cease to be operated. 6. Or if any of the following-named articles be kept, stored or used in or on the premises herein described, any custom or usage of trade or manufac ture to the contrary notwithstanding, viz.: benzine, benzole, benzine, varnish, burning fluid, chemical oils, fire-works, gasoline, gunpowder, naphtha, nitro-glycerine, nitrate of soda, oily waste, petroleum and products, phos phorus, rubber cement, saltpetre, spirit-gas, or any articles subject to legal restriction. 3. What this company is liable for This company shall not be liable under this policy for loss or damage by fire in any of the following instances, víz.: 1. If caused directly or indirectly by means or in consequence of an invaslon, insurrection, riot, civil war or commotion, or military power, or by order of any military or civil authority, or in consequence of any neglect or violation of any law or ordinance, or by the fraudulent act or procurement of the assured. 2. If caused by lightning or explosion of any kind, unless fire ensues, and then for the loss by fire only. 3. If the building herein described or any part thereof fall, except the fall is the result of fire. 4. If caused by neglect of the assured to use all practicable means to save and protect the property at and after the fire, or when the property is endangered by a fire in neighboring premises. 5. For loss of accounts, bills, notes, deeds, manuscripts, evidences of debt or securities of property of any kind; or for loss by theft at or after the fire. 6. For any consequential or constructive loss or damage, beyond the actual damage by fire to the property, whether such loss or damage be occasioned by any ordinance or law regulating the construction or repair of buildings or otherwise. 4. What is not insured This insurance does not cover any of the following named articles or goods, unless separately and specifically mentioned in writing in the policy, viz.: Money or bullion, drawings, models, patterns, tools, implements, paintings, sculpture, medals, casts, curiosities, jewels, watches, scientific apparatus, store furniture and fixtures, awnings, signs, yard fixtures; nor goods held on storage. 5. General privileges-1. Kerosene or refined petroleum oil of the legal standard may be used for lights only, lamps to be filled and trimmed by daylight and not within ten feet of artificial light. 2. Mechanics are allowed to make ordinary alterations and repairs to buildings not exceeding fifteen days in each year of this insurance, without notice to the company. Any extension of this privilege must be previously consented to in writing on this policy. 3. Plate-glass, frescoes and wall decorations are covered by insurance on the building; but if there shall be any other insurance on the building, this company shall be liable only for such proportion of the loss on said plateglass, frescoes and decorations as the amount hereby insured shall bear to the whole insurance on the building, whether such other insurance applies to said glass, frescoes and decorations or not. 6. Cancellation of policy-1. If any broker or other person than the assured have procured this policy, or any renewal thereof, or any endorsement thereon, he shall be deemed to be the agent of the assured, and not of this company, in any transaction relating to this insurance, including the delivering of this policy and payment of the premium. 2. This insurance may be terminated at any time by request of the assured, or by the company, on giving notice to that effect. On surrender of the policy, the company shall refund any premium that may have been paid, reserving the usual short rates in the first case, and pro rata rates in the other case. Agreement as to loss - The amount of sound value and of damage to the property may be determined by mutual agreement between the company and the assured; or failing to agree, the same shall then, at the written request of either party, be ascertained by an appraisal of each article of personal property, or by an estimate in detail of the building, by competent and impartial appraisers, one to be selected by each party, and the two so chosen shall first select an umpire to act with them in case of their disagreement; and, if the said appraisers fail to agree, they shall refer the differences to such umpire; and the award of any two, in writing, under oath, shall be binding and conclusive as to the amount of such loss or damage, but shall not decide as to the validity of the contract or any other question except the amount of such loss or damage. Each party shall pay their own appraiser and one-half the umpire's fee. It shall be optional with this company to take the whole or any part of the articles at their appraised value, and also to repair, rebuild or replace the property lost or damaged with other of like kind and quality within a reasonable time, giving notice of their intention so to do within thirty days after completion of the proofs herein required. [Suggestions as to particular statement relative to property here omitted.] Any fraud or attempt at fraud, or any misrepresentation in any statement touching the loss, or any false swearing on the part of the assured or his agent, in any examination or in the proofs of loss or otherwise, shall cause a forfeiture of all claim on this company under this policy; and in such case, this company shall have the right at any time to require the same to be delivered up to be canceled. [What the Company is not liable for and other conditions are here omitted.] In Witness Whereof the Seward Insurance Company on its part, has caused these presents to be signed by its President or Vice-President, and attested by its Secretary, in the city of Hartford. But this policy shall not be valid unless countersigned by Hiram Hankins, agent of said Seward Insurance Company, at Albany, N. Y. SMITH C. WATKINS, Secretary. HIRAM HANKINS, Agent. HENRY K. WILLIAMS, President. 222 QUESTIONS AND FORMS RELATING TO LIFE INSURANCE. LIFE INSURANCE. That our readere may understand the condition of insurance upon life, we present herewith the questions asked of an applicant, and the form of life insurance policy. Application for Assurance To the Home Life Insurance Company, Brooklyn and New York. The applicant is expected and required to answer all the following questions definitely and fully. Notice to applicants. It is desirable that the answer be written by the hand of the applicant; if written by the agent, it will be at the request of and as the amanuensis of the applicant. 1 For whose benefit is the insurance to be effected? 2. Whose life to be insured? 3. Amount of ass irae* 4. How do you wish to pay the premium? 5. When and where was the party to be insured born? 6. Is the party in good health, and free from any symptom of dis 7. Is the party whose life is to be insured married? 8. Has the party been vaccinated, or had the small-pox, or varioloid 9. Are the habits of the party uniformly and strictly sober and temperates 10. Has the party ever been addicted to the excessive or intemperate use of any alcoholic stimulants or opium? Does the party use, habitually, intoxicating drinks as a beverage? Does the party practice any bad or vicious habit that tends to the shortening of life? 11. What employments has the party been engaged in? Has the health of the party suffered thereby? Has the party been engaged or employed in the manufacture or sale of intoxicating liquors? If so, in what way and when? 12. Is the party now deaf, dumb, blind, or crippled in any way. 13 Has the party ever had any of the following diseases, or any symptoms thereof? (Here follows a long list of well-known, ordinary maladies.) If the party has had one or more of these diseases, please state particularly which. 14. Has the party had inflammatory rheumatism? If so, when and how often? 15. Has the party ever had disease of any vital organ? If so, what was it, and when? 16. Is the party subject to dyspepsia, diarrhea, or vertigo? 17. Has the party ever had an habitual cough? Has he ever spit blood? 18. Has the party ever met with any severe personal injury? If So, what? 19. Has the party had, during the past ten years, any sickness or disease? If so, state the particulars of each and every such sickness or disease, and the name of each and every physician or physicians who prescribed or who were consalted! 20. Have the ancestors of the party generally reached old age? 22. Are the parents of the party living? 24. How many brothers has the party had? How many sisters? How many are living, and their names? At what ages? What is the state of their health respectively? How many have died, and their names? At what age? Of what disease did they die? 25. Has the party employed or consulted any physician for self or family? Please answer this, Yes or no. If Yes, give name or names of each and every such physician, and residence. 26. Name and residence of an intimate friend to whom the party refers as competent and authorized to answer such questions as may be asked by the company relating to him or her. 27. What amount is now assured on the life of the party, and in what company or companies? 28. Has application ever been made to this or any other company for insurance on the life of the party, which was not granted? If so, what company, when, and for what reason? 29. Have you read the ** Notice to Applicants" at the head of this page, and have you duly considered your answers to all the foregoing questions? Do they definitely express what you intend to say, and are you aware that any untrue, evasive or fraudulent answer to the above queries, or any suppression or misstatement of facts in these answers in regard to the health, habits, or circumstances of the party, or of the family relations of the party, will vitiate the policy, and forfeit all payments thereon? [The party insured here affirms that he has truly answered the above, which affirmation is duly attested by a competent witness. ] The Life Insurance Policy. The foregoing questions being answered to the satisfaction of the company, a policy is issued to the party insured in the following form: HOME LIFE INSURANCE COMPANY, Premium, $80.00. OF BROOKLYN In consideration of the representations and agreements contained in the application therefor, and of the payment of two-thirds of the amount premium of Eighty Dollars, and the interest on one-third of the said annual premium (which third is a loan secured by this policy, to be liquidated as hereinafter stated, by Edward G. Martell. Does assure the life of Edward G. Martell, of Fleming, in the county of Cox, State of New Jersey, in the sum of Two Thousand Dollars for the term of life, with participation in profits. And the said Home Life Insurance Company does hereby promise and agree to and with the said Edward G. Martell to pay the sum assured cless the balance of the year's premium, if any, and any indebtedness to the company on account of this contract, or for any loan made on ssid policy; at its office in this city, to his wife, Mary Louise Martell, within sixty days after due notice and satisfactory proof of death, and interest, in accordance with the terms of this contract. Provided always, and it is hereby declared to be the true intent and meaning of this policy, and the same is granted by this company, and accepted by the said Edward G. Martell upon these express conditions, that if the statements made by or for him, contained in the application bearing date the tenth day of January, 1881, upon the faith of which this policy is made (which statements he makes his own, and warrants to be full, correct and true), or any part thereof, shall be found untrue, incomplete or deceptive in any respect, or in case the said Edward G. Martell shall not actually pay the first premium as aforesaid, before the delivery of this policy, and while the AND NEW YORK, $2,000.00. Age, 49 Years. said Edward G. Martell is in good health, or shall not pay, or cause to be paid to this company, at its office in the city of New York on or before the seventeenth day of January, at 12 o'clock, noon, in each and every year during the continuance of this policy, the said two-thirds of the annual premium of eighty dollars, to wit, the sum of fifty-three dollars and thirtythree cents, and annually in advance during the continuance of this policy, the interest on one-third of the annual premiums which may have loaned to the assured from year to year, or so much thereof as may remain unpaid; or in case the said Edward G. Martell shall not pay, or cause to be paid, any note or notes which may be given to and received by said company, in part payment of any premium, on the day or days when the same shall become due: Or in case the said Edward G. Martell shall, without the written consent of this company, previously obtained, engage as mariner.engineer, fireman, conductor, agent, messenger, laborer or servant in any capacity, în service on any sea, sound, inlet, river, lake or railroad, or in the manufacture of any explosive substance, or of any article of which any explosive substance or compound forms a component part, or in submarine operations or mining, or shall enter upon or engage in any aerial voyage, or in any military or naval service whatsoever (the militia not in actual service excepted); Or in case the said Edward G. Martell shall die in consequence of a duel, or of the violation of law, then, and in every such case, the said company shall not be liable for the payment of the sum assured, or any part thereof, and this policy shall cease, and be null, void and of no effect. [Provisions restricting the assured to moderation in living, avoiding hurtful business and non-payment of premiums, etc., are omitted.} In Witness Whereof, The Home Life Insurance Company has, by its president and secretary, signed and delivered this contract at the city of New York, in the State of New York, this seventeenth day of January, one thousand eight hundred and eighty-one. Secretary. -, President. MARGINAL NOTE. Notice to the Holder of this Policy: No agent of this company is authorized or permitted to waive, alter or change any of the condi tions of this policy, or agree to any terms not herein distinetly stated, nor to collect or receive any premiums which may become due and payable under it, without producing and delivering to the insured a receipt for said premium, signed by the president or secretary of this company. THE LAW BETWEEN LANDLORD AND TENANT. 223 LEASES. PERSON leasing real estate to another is termed a landlord; the person occupying such real estate is known as a tenant. The person making the lease is known in law as the lessor; the person to whom the lease is made, as the lessee. No particular form of wording a lease is necessary. It is important, however, that the lease state, in a plain, straightforward manner, the terms and conditions of the agreement, so that there may be no misunderstanding between the landlord and tenant. It is essential that the lease state all the conditions, as additional verbal promises avail nothing in law. It is held, generally, that a written instrument contains the details, and states the bargain entire, as the contracting parties intended. The tenant can sub-let a part, or all, of his premises, unless prohibited by the terms of his lease. A lease by a married woman, even if it be upon her own property, at common law, is not valid; but, by recent statutes, she, in many States, may lease her own property and have full control of the same; neither can the husband effect a lease that will bind her after his death. His control over her property continues only so long as he lives. Neither a guardian nor a minor can give a lease, extending beyond the ward's majority, which can be enforced by the lessee; yet the latter is bound unless the lease is annulled. If no time is specified in a lease, it is generally held that the lessee can retain possession of the real estate for one year. A tenancy at will, Short Form of Lease for a House. THIS INSTRUMENT, made the first day of May, 1872, witnesseth that Theodore Shonts, Ashville, County of Buncombe, State of North Carolina, hath rented from Tilgham Schnee, of Ashville, aforesaid, the dwelling and lot No. 46 Broadway, situated in said town of Ashville, for four years from the above date, at the yearly rental of Two Hundred and Forty Dollars, payable monthly, on the first day of each month, in advance, at the residence of said Tilgham Schnee. At the expiration of said above-mentioned term, the said Shonts however, may be terminated in the eastern States by giving three months' notice in writing; in the middle and southern States, six months; and in the western States, one month; though recent statutes, in some States, have somewhat modified the above. The lease that specifies a term of years without giving the definite number is without effect at the expiration of two years. A lease for three or more years, being acknowledged and recorded in the recorder's office, is an effectual bar to the secret or fraudulent conveyance of such leased property; and it further obviates the necessity of procuring witnesses to authenticate the validity of the lease. Duplicate copics of a lease should always be made, and each party should retain a copy of the same. A new lease to the same person invalidates an old one. A lease on property that is mortgaged ceases to exist when the person holding such mortgage forecloses the same if it is prior to the lease. A landlord, consenting to take a substitute, releases the first tenant. Where there is nothing but a verbal agreement the tenancy is understood to commence at time of taking possession. When there is no time specified in the lease, tenancy is regarded as commencing at the time of delivering the writings. If it is understood that the tenant is to pay the taxes on the property he occupies, such fact must be distinctly stated in the lease, as a verbal promise is of no effect. 224 FORMS OF LEASES AND NOTIFICATIONS. Lease of Dwelling-House for a Term of Years, with a Covenant not to Sub-let. THIS INDENTURE, made this first day of May, 1873, between Hiram W.cox, of Oxford, county of Benton, and State of Alabama, party of the first part, and Barton D Maynard, of the same town, county and State, party of the second part: WITNESSETH, that the said party of the first part, in consideration of the covenants of the said party of the second part, hereinafter set forth, does by these presents lease to the said party of the second part the following-described property, to wit: The dwelling-house and certain parcel of land, situated on the south side of Main street, between Spring and Eim streets, known as No. 82 Main street. To have and to hold the same to the said party of the second part, from the first day of May, 1873, to the thirtieth day of April, 1875. And the said party of the second part, in consideration of the leasing the premises as above set forth, covenants and agrees with the party of the first part to pay the said party of the first part, as rent for the same, the sum of One Hundred and Eighty Dollars per annum, pay able quarterly in advance, at the residence of said party of the first part, or at his place of business. The said party of the second part further covenants with the party of the first part, that at the expiration of the time mentioned in this lease, peaceable possession of the said premises shall be given to said party of the first part, in as good condition as they now are, the usual wear, inevitable accidents, and loss by fire, excepted; and that upon the non-payment of the whole or any portion of the said rent at the time when the same is above promised to be paid, the said party of the first part may, at his election, either distrain for said rent due, or declare this lease at an end, and recover possession as if the same were held by forcible detainer; the said party of the second part hereby waiving any notice of such election, or any demand for the possession of said premises. And it is further covenanted and agreed, between the parties aforesaid, that said Barton D. Maynard shall use the above-mentioned dwelling for residence purposes only, and shall not sub-let any portion of the same to others, without permission from said Hiram Wilcox. The covenants herein shall extend to and be binding upon the heirs, executors and administrators of the parties to this lease. Witness the hands and seals of the parties aforesaid. HIRAM WILCOX,-(SEAL)BARTON D. MAYNARD. -(SEAL) Lease of Farm and Buildings Thereon. THIS INDENTURE, made this first day of March, 1873, between Moses Waite, of the town of Doyleston, State of Pennsylvania, of the first part, and Abijah Hazelton, of the same place, of the second part: WITNESSETH, that the said Moses Waite, for and in consideration of the covenants hereinafter mentioned and reserved, on the part of the said Abijah Hazelton, his executors, administrators and assigns, to be paid, kept and performed; hath let, and by these presents doth grant, demise and let, unto the said Abijah Hazelton, his executors, administrators and assigns, all that parcel of land situate in Doyleston aforesaid, bounded and described as follows, to wit: [Here describe the land. ] To Together with all the appurtenances appertaining thereto. have and to hold the said premises, with appurtenances thereto belonging, unto the said Hazelton, his executors, administrators and assigns, for the term of five years from the first day of April next following, at a yearly rent of Eight Hundred Dollars, to be paid in equal payments, semi-annually, as long as said buildings are in good tenantable condition. And the said Hazelton, by these presents, covenants and agrees to pay all taxes and assessments, and keep in repair all hedges, ditches, ́ rail, and other fences (the said Moses Waite, his heirs, assigns and administrators, to furnish all timber, brick, tile and other materials necessary for such repairs. ) Said Hazelton further covenants and agrees to apply to said land, in a farmer-like manner, all manure and compost accumulating upon said farm, and cultivate all the arable land in a husband-like manner, according to the usual custom among farmers in the neighborhood; he also agrees to trim the hedges at a seasonable time, preventing injury from cattle to such hedges, and to all fruit and other trees on the said premises. That he will seed down with clover and timothy seed twenty acres yearly of arable land, ploughing the same number of acres each spring of land now in grass, and hitherto unbroken. It is further agreed, that if the said Hazelton shall fail to perform the whole or any one of the above-mentioned covenants, then and in that case the said Moses Waite may declare this lease terminated, by giving three months' notice of the same, prior to the first of April of any year, and may distrain any part of the stock, goods or chattels, or other property in possession of said Hazelton, for sufficient to compensate for the non-performance of the above-written covenants, the same to be determined, and amounts so to be paid to be determined by three arbitrators, chosen as follows: Each of the parties to this instrument to choose one, and the two so chosen to select a third; the decision of said arbitrators to be final. In witness whereof, we have hereto set our hands and seals. MOSES WAITE,-(SEAL)- Landlord's Agreement. THIS CERTIFIES that I have let and rented, this first day of May, 1872, unto Dennis Holden, my house and lot, No. 18, North Front street, in the city of Philadelphia, State of Pennsylvania, and its appurtenances; he to have the free and uninterrupted occupation thereof for one year from this date, at the yearly rental of Twelve Hundred Dollars, to be paid monthly in advance; rent to cease if destroyed by fire, or otherwise made untenantable. JONAS WHEELOCK. Tenant's Agreement. THIS CERTIFIES that I have hired and taken from Jonas Wheelock, his house and lot, No, 18 North Front street, in the city of Philadelphia, State of Pennsylvania, with appurtenances thereto belonging, for one year, to commence this day, at a yearly rental of Twelve Hundred Dollars, to be paid monthly in advance; unless said house becomes untenantable from fire or other causes, in which case rent ceases; and I further agree to give and yield said premises one year from this first day of May, 1872, in as good condition as now, ordinary wear and damage by the elements excepted. Given under my hand this day. THE USES AND FORMS OF LETTERS OF CREDIT. 225 LETTERS OF CREDIT. ETTERS OF CREDIT are written papers authorizing credit to the amount named to the persons bearing them. Such a letter is usually given by a banker, merchant, or other responsible man, to a distant banker or wealthy friend. The person bearing it may leave an equivalent with the party giving it, as a deposit of money, bonds, mortgages or stocks; or no security may be required, as in the case of a son or other near relative, or of a very intimate friend. It must have the written signature of the person sending it, and be guarded in other ways, as are drafts, checks, etc. A copy of the letter, with a description of the person named, is also sent to the correspondent addressed, by mail, in order to make the recognition of the person to be credited the more certain. The person presenting the letter of credit, having been fully identified by the party to whom it is sent, must comply freely with any conditions stated in the letter before receiving the money. If the money to be received on the letter of credit is to be used in paying a debt owing by the bearer of it to another party, the fact should be stated in the letter. Should the letter not be accepted by the person to whom it is directed, the bearer of it should at once notify the writer of it, and state the ostensible reason for not honoring it. A gentleman of means may obtain from another, in similar circumstances, a letter to a business house where the latter is well known and the former is not, reciting the financial ability of the applicant for credit, and guaranteeing the payment of any indebtedness incurred by him within a certain limit. The person of the strange gentleman must be so described in the letter that the business firm to whom it is addressed may readily recognize him as the person entitled to present it. Or, if one gentleman has already incurred a debt, the letter of credit may guarantee the payment of the amount due within a specified time. The gentleman who signs either letter is holden for the amount involved, provided the business house accepts the guarantee as soon as it is received. I take pleasure in introducing to you Mr. George W. Hopkins, of Belgrave Terrace, Newton street, London, C. W., who visits the United States for the purpose of investing in manufacturing property in the city or vicinity of Philadelphia, Pa., and desires to open a credit with you of Ten Thousand Dollars during each of the months of May, June and July, of 1883. I hereby authorize you to honor his drafts to an amount not exceeding in the aggregate the above-named sum, and charge the same to me. The signature of Mr. Hopkins accompanies this. Yours Very Respectfully, Signature of GEORGE W. HOPKINS. MOSES BRANDENBERG. Mr. Asahel T. Cox, the bearer of this letter, is an extensive dealer in hardware, stoves and tinners' stock, at Baton Rouge, La., who is now about visiting your city for the first time, with a view of purchasing large additions to his stock of merchandise. We have reason to know the condition of his financial ability, his character for fair dealing and his promptness in meeting his liabilities. We, therefore, do not hesitate to guarantee the payment of any indebtedness that he may contract with your house not exceeding Ten Thousand Dollars, on not less time than sixty days. Very Respectfully Yours, GEORGE PROBITY & CO., 104 Breadalbane Street. |