Sidor som bilder
PDF
ePub

'ARTICLE 3.

AGREEMENTS IN WRITING; WITHOUT CONSIDERATION; FRAUD. ULENT FACTORS.

SECTION 30. Definitions.

31. Agreements required to be in writing,

32. Transfers and mortgages of interests in decedents' estates to be in writing, and recorded.

33. Validity of certain agreements made without consideration. 34. Transfers in trust for the transferrer.

35. Transfers and charges with fraudulent intent.

36. Sales and charges other than chattel mortgages without delivery and change of possession.

[Repealed.]

37. Fraudulent intent a question of fact.

38. Transfers or charges without consideration.

39. Successors to rights of creditors and purchasers.

40. Bona fide purchasers.

41. Transfer of claims.

42. Regulating loans of money on salaries.

43. Factors' act.

4. Transfer of goods in bulk.

45. Notice of liens upon merchandise or the proceeds thereof to se ure loans or advances.

§ 30. Definitions.

As used in this article, the term "transfer" includes sale, assignment, conveyance, deed and gift, and the term "agreement" includes promise and undertaking.

Derivation: Personal Property Law, § 20.

31. Agreements required to be in writing.

Every agreement, promise or undertaking is void, unless it or some note or memorandum thereof be in writing, and subscribed by the party to be charged therewith, or by his lawful agent, if such agreement, promise or undertaking:

1. By its terms is not to be performed within one year from the making thereof;

2. Is a special promise to answer for the debt, default or miscarriage of another person;

3. Is made in consideration of marriage, except mutual promises to marry;

4. Is a conveyance or assignment of a trust in personal property;

5. Is a subsequent or new promise to pay a debt discharged in bankruptcy;

If goods be sold at public auction, and the auctioneer at the time of the sale, enters in a sale book, a memorandum specifying the nature and price of the property sold, the terms of the sale, the name of the purchaser, and the name of the person on whose account the sale was made, such memorandum is equivalent in effect to a note of the contract or sale, subscribed by the party to be charged therewith. (First paragraph of subd. 6 repealed by L. 1911, ch. 571, § 2, in effect Sept. 1, 1911.). Derivation: Personal Property Law, § 21.

§ 32. Transfers and mortgages of interests in decedents' estates to be in writing, and recorded.

Every conveyance, assignment, or other transfer of, and every mortgage or other charge upon the interest, or any part thereof, of any person in the, estate of a decedent which is situated within thi state, shall be in writing, and shall be acknowledged or proved in the manner required to entitle.conveyances of real property to be recorded. Any such instrument may also be recorded as hereinafter provided; and if not so recorded, it is void against any subsequent purchaser or mortgagee of the same interest or any part thereof, in good faith and for a valuable consideration, whose conveyance or mortgage is first duly recorded. If such interest is entirely in the personal property of a decedent, the conveyance or mortgage shall be recorded in the office of the surrogate issuing letters testamentary or letters of administration upon the said decedent's estate, or if no such letters have been issued, then in the office of the surrogate having jurisdiction to issue the same. If such interest is in both the personal and the real property of a decedent, the conveyance or mortgage shall be recorded in the office of the said surrogate and also in the office of the county clerk. Such a conveyance or mortgage when so recorded, shall be indexed under the name of the decedent in a book to be kept for that purpose by each recording officer. The person presènting any such instrument for record shall pay to the clerk of the surrogate's court a fee of ten cents for each folio.

Derivation: L. 1904, ch. 692, § 1, as amended by L. 1908, ch. 173, § 1.

[ocr errors]

§ 33. Validity of certain agreements made without consideration. An agreement for the purchase, sale, transfer or delivery of a certificate or other evidence of debt, issued by the United States or by any state, or a municipal or other corporation, or of any share or interest in the stock of any bank corporation or joint stock association, incorporated or organized under the laws of the United •States or of any state, is not void or voidable, for want of consideration, or because of the non-payment of consideration, or because the vendor, at the time of making such contract, is not the owner or possessor of the certificate or certificates or other evidence of debt, share or interest.

Derivation: Personal Property Law, § 22.

§ 34. Transfers in trust for the transferrer.

A transfer of personal property, made in trust for the use of the person making it, is void as against the existing or subsequent creditors of such person.

Derivation: Personal Property Law, § 23.

§ 35. Transfers and charges with fraudulent intent.

Every transfer of any interest in personal property, or the income thereof, and every charge on such property or income, made with the intent to hinder, delay or defraud creditors or other persons of their lawful suits, damages, forfeitures, debts or demands, and every bond or other evidence of debt given, suit commenced, or decree or judgment suffered, with such intent, is void as against every person so hindered, delayed or defrauded.

Derivation: Personal Property Law, § 24.

1

§ 36. Sales and charges other than chattel mortgages withont delivery and change of possession.

[Repealed by L. 1911, ch. 571, § 2, in effect Sept. 1, 1911.]

[ocr errors]
[ocr errors]

§ 37. Fraudulent intent a question of fact.

The question of the existence of fraudulent intent in cases arising under this article, is a question of fact and not of law.

Derivation: Personal Property Law, § 26.

§ 38. Transfers or charges without consideration.

A transfer or charge shall not be adjudged fraudulent as against creditors or purchasers, solely on the ground that it was not founded on a valuable consideration.

Derivation: Personal Property Law, § 27.

§ 39. Successors to rights of creditors and purchasers.

A transfer, charge, sale or assignment, or proceeding declared by this article, to be void, as against creditors or purchasers, is equally void as against the heirs, successors, personal representatives or assignees of such creditors or purchasers.

}

Derivation: Personal Property Law, § 28.

§ 40. Bona fide purchasers.

This article does not affect or impair the title of a purchaser or incumbrancer for a valuable consideration, unless it appear that such purchaser or incumbrancer had previous notice of the fraudulent intent of his immediate vendor, or of the fraud rendering void the title of such vendor.

Derivation: Personal Property Law, § 29.

§ 41. Transfer of claims.

1. Any claim or demand can be transferred, except in one of the following cases:

(1) Where it is to recover damages for a personal injury, or for a breach of promise to marry.

(2) Where it is founded upon a grant, which is made void by a statute of the state; or upon a claim to or interest in real property, a grant of which, by the transferrer, would be void by such

a statute.

(3) Where a transfer thereof is expressly forbidden by a statute

of the state, or of the United States, or would contravene public policy.

2. A judgment for a sum of money, or directing the payment of a sum of money, recovered upon any cause of action, may be transferred; but if it is vacated or reversed, the transfer thereof does not transfer the cause of action unless the latter was transferable before the judgment was recovered.

3. Where a claim or demand can be transferred, the transfer thereof passes an interest, which the transferee may enforce by an action or special proceeding, or interpose as a defense or counterclaim, in his own name, as the transferrer might have done; subject to any defense or counter-claim, existing against the transferrer, before notice of the transfer, or against the transferee. But this section does not apply, where the rights or liabilities of a party to a claim or demand, which is transferred, are regulated by special provision of law; nor does it vary the rights or liabilities of a party to a negotiable instrument, which is transferred.

Derivation: Code Civil Procedure, §§ 1909, 1910, 1912.

§ 42. Regulating loans of money on salaries.

1. Any person or persons, firm, corporation or company, who shall after the passage of this act, make to any employee an advance of money, or loan, on account of salary or wages due or to be earned in the future by such individual, upon an assignment or note covering such loans or advances, shall not acquire any right to collect or attach the same while in the possession or control of the employer, unless such note or assignment is dated on the same day on which such loan is actually made, and unless within a period of three days after such loan and assignment or note are actually made the party making such loan or loans and taking such assignment or notes shall have filed with the employer or employers of the individual or individuals so assigning his present or prospective salary or wages, a duly authenticated copy of such agreement or assignment or notes under which the claim is made. The day of making a loan or advance within the meaning of this act shall be deemed to be the day when the money is delivered to the borrower, and the subsequent execution of an instrument by virtue of a power of attorney shall not be deemed to affect the time of the actual making of such loan or advance.

2. No action shall be maintained in any of the courts of this state, brought by the holder of any such contract, assignment or

« FöregåendeFortsätt »