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PROTEST.-(Continued).

waiver of

when necessary

when to be made

where bill is lost, destroyed or wrongly detained....
where made ...

SEAL:

REFEREE:

in case of need, inserted in bill of exchange.....
protest of bill containing a reference in case of need...

effect of, upon instrument

SIGNATURE:

....

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CONSOLIDATORS' NOTES TO TEXT OF
PERSONAL PROPERTY LAW.

1. Sec. 11. In the technical language of the common law, which by constitutional limitation is expressly binding on the Judiciary, in the absence of Legislative changes, a "will" refers to real property; a "testament" refers to personal property. This section refers to a testament and the usual technical language should be employed.

2. Sec. 11. The rule against perpetuities expressed in this section has been lately held, since L. 1903, Ch. 701, to have no further application to charitable uses:

Allen v. Stevens, 161 N. Y. 122;

Matter of Griffen, 167 id. 71, 81.

This being so, it should be plainly stated in a statute consolidating the laws relating to charities. At common law, charitable or public uses were not subject to the rule against perpetuities, except as to the time of vesting in possession, which could not be postponed beyond the legal limit. Marsden on Perpetuities, 24, 295;

Challis on Real Property, 157.

This was a wise exception, recognized in this state, and should be continued.

Rose v. Rose, 4 Abb. Ct. App. Dec. 108.

The phrase "except as to the time of vesting in possession is the technical one employed in the law relating to charitable uses to express that such uses must vest within the time limit prescribed by the rule against perpetuities.

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The following should be added to section 11.

"But this section does not apply to the charitable or other uses mentioned in sections twelve, thirteen and fourteen of this article, except as to the time of vesting in possession."

3. Sec. 12. This is a consolidation of L. 1893, Ch. 701, Secs. 1, 2, as amended by L. 1901, Ch. 291, Sec. 1. No change is made in the language of the statutes, further than to limit their application to personal property. The same laws, in so far as applicable to real property, are transferred to section 113, Real Property Law.

4. Sec. 13. This section is intended to consolidate L. 1840, Ch. 318, Secs. 1-4, as amended by L. 1841, Ch. 261, Sec. 1, in so far as those laws relate to personal property. The same acts in so far as they relate to real property are made section 114 of the Real Property Law.

5. Sec. 13. The compulsory record of deeds of gift of personalty to

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