entered against the defendant for the principal sum with legal interest thereon, for the benefit of the common school fund.

The following table contains the legal rate of interest and the contract rate in various jurisdictions:

1 There are no usury laws.

2 Corporations are not allowed to plead usury.

3 On secured loans of less than $200, interest not exceeding 3 per cent. a month for not more than 3 months is allowed, and thereafter not exceeding 15 per cent. per

annum.

4 Interest on bonds issued by a corporation is limited to not exceeding 7 per cent. per annum. The practical effect of a law passed in 1888 limits the rate on loans for less than $1,000, contracted after May 22, 1888, to not exceeding 18 per cent. per annum. 5 On demand loans for over $5.000 secured by negotiable instruments or stock pledged as collateral, a bank or an individual banker may collect whatever rate the parties agree upon in writing.

6 Railroad and canal companies may borrow money at a greater rate of interest; and commission merchants and agents may contract with parties outside of this state for 7 per cent. interest.

7 Incorporated companies may borrow money at a higher rate.

8 Banks are restricted to 7 per cent.

The rate by agreement may be 7 per cent, where the security is realty, or 10 per cent. where the security is personalty,

JUDGMENTS

Alabama.-Judgments become a lien on the defendant's property as soon as filed in the probate court for registration, and such lien lives for 10 years. Execution on an unregistered judgment is not a lien on personal property unless an actual levy is made. Execution from a court of record, in the hands of the sheriff, is a lien on reality. When execution has been issued on a judgment within 1 year after its rendition, and has not been returned satisfied, another execution may be issued at any time within 10 years after the test of the last, without a revival of the judgment. If execution did not issue within 1 year after rendition of judgment, it can be revived only by scire facias; after a lapse of 20 years it cannot be revived. No judgment can be rendered against executors or administrators until 12 months after the grant of letters. The sale of the husband's real estate on legal process does not discharge the wife's dower.

Alaska. From the date of the docketing of a judgment, or the transcript thereof, such judgment is a lien upon all the real property of the defendant within the recording district or districts where the same is docketed, or which he may thereafter acquire therein, during the time an execution may issue thereon.

Arizona.—Judgments when entered in the abstract book of the clerk of the court are a lien on all the real estate of the defendant from date; and from one county they may be abstracted to another and become a lien therein. In the district court, judgments become dormant in 12 months if execution have not been issued; otherwise, in 5 years. Where a judgment has become dormant, it must be revived by scire facias or action before issuing execution.

Arkansas.-Judgments and decrees of the circuit, chancery, and supreme courts, and the United States courts, are liens on the lands of the defendant in the county where rendered, or in any county where a certified copy thereof is filed with the circuit clerk, for the period of 3 years. They may be revived on scire facias at any time, and continue for a like period, and, if the scire tacias be issued before the lien expires, the revivor relates back to the original entry.

California.-From the time the judgment is docketed, it becomes a lien upon all the real property of the judgment debtor not exempt from execution in the county, owned by him at any time, or which he may afterwards acquire until the lien ceases. The lien continues for 5 years. A certified transcript of the judgment may be filed with the

recorder of any other county, where it becomes a lien in said county for 2 years from the date of filing.

Colorado.-Judgments rendered in this state are a lien against the debtor's real estate from the time a transcript thereof is filed in the clerk and recorder's office in the county where the real estate is situated, and will continue to be a lien thereon until the expiration of 6 years from the date of said judgment. Execution may be issued on such judgment, to enforce the same, at any time within 20 years from the entry thereof, but not afterwards, unless revived. Judgments are a lien on personal property from the time an execution is placed in the hands of the sheriff, and during the life of said execution. Judgments recovered before a justice of the peace may be made a lien upon the debtor's real estate by filing with the clerk of the district court a transcript of said judgment and having judgment entered thereon in the district court, and filing a transcript of such district court judgment in the office of the clerk and recorder of the county in which the debtor's real estate is situated.

Connecticut.-Judgments are liens only on property which has been attached in the action. The lien continues after judgment upon such property, if personal, 60 days, if real estate, 4 months. Any person having an unsatisfied judgment may file a certificate in the town clerk's office where the real estate is situated, describing such real estate, and thereupon a lien is acquired which may be foreclosed at any time like a mortgage. Execution may be issued on a judgment at any time during the lifetime of the parties.

Delaware.-Judgments of courts of records are liens on all real estate of the defendant in the county where judgment is entered, from their date for a period of 10 years, and may be extended to the other counties. The lien may be prolonged by a written agreement filed. To make a foreign judgment a lien in this state, suit must be brought thereon. Transcripts of judgments rendered before justices of the peace may be filed in the superior court, and the judgment then becomes a lien.

District of Columbia.-A judgment at common law and decree in equity of the district supreme court, for the payment of money, is a lien on freehold and leasehold estate, legal and equitable, from the date of rendition; also the judgment of a justice of the peace, of $20 and more, from the date of the docketing in the clerk's office of the district supreme court, and on personal property, when execution is issued and delivered to the marshal. A judgment is enforceable for the period of 12 years only from the date when an execution might first be issued.

Florida.-Judgments are liens upon the debtor's real estate in the county where the same are rendered, and in any other county

in the clerk's office of which the same shall be recorded, in the first instance from the date of the rendition of the judgment, and in the second instance from the date of recording. Where an execution issues within 3 years from the date of rendition of the judgment, the lien is preserved for 12 years without revival.

Georgia.—All judgments constitute a general lien upon all the property of the defendant in this state, and take rank according to date. Judgments rendered at the same term of court are of equal dignity. Notes are not subject to the lien of a judgment, nor are choses in action generally. Stock in incorporated companies is liable. A judgment loses its lien on property sold to a bona-fide purchaser, if realty, in 4 years, and if personalty, in 2 years from the date of the purchase. Judgments become dormant, or lose their lien on all property, unless execution issue within 7 years, or in 7 years after the issuance of execution, or after the last return on the same by an authorized officer. A judgment may thus be kept alive indefinitely, simply by entries on the execution. After a judgment has become dormant, it may be revived by proper proceedings within 3 years. The clerk of the superior court of each county is required to keep a general execution docket, on which all judgments shall be entered within 10 days from their rendition, or their lien is lost on property within the county. When entered after 10 days, the lien dates from the entry. Judgments rendered outside of the county must be recorded within 30 days. As against the interest of third parties acting in good faith and without notice who may have acquired a transfer or lien binding real estate of a non-resident, the judgment must be recorded in 10 days to be a lien on the property of a non-resident.

Idaho.-Judgments in the district court are liens on all real property of the debtor situated within the county for 2 years. Judgments obtained in the probate and justice courts may be docketed in the district court, and thus likewise become liens upon lands owned by the debtor situated in that county. Transcripts of judgments may be filed with the recorder of any other county of the state, and thus be made liens upon any real estate the debtor owns in said county.

Illinois.—A judgment of a court of record is a lien on the real estate of the defendant in the county in which it is rendered, provided execution be issued within 1 year from the rendition of the judgment. If execution be not issued within 1 year the lien ceases at the end of that period, but execution may issue at any time within 7 years, and becomes a lien on such real estate from the time it is delivered to the sheriff. For the purposes of levy and sale on execution, real estate includes land, tenements, hereditaments, and all legal and equitable rights therein, estates for life, for years, and leasehold estates when the unexpired term exceeds 5 years. A judgment may be revived by

scire facias, or an action of debt may be brought thereon, at any time within 20 years from its rendition. Judgments of the circuit court of the United States are a lien on the real estate of the defendant throughout the state.

Indian Territory.-Judgments and decrees of the supreme court shall, upon the filing of the transcript thereof in the circuit court of the county in which the suit originated on which the judgment or decree is entered, be a lien on the real estate of the person against whom such judgment or decree is rendered situated in such county from the filing of such transcript. The lien continues for 3 years from the day of rendition and may be revived by writ of scire facias.

Indiana.-Judgments of the supreme, circuit, and superior courts are liens upon the real estate and chattels real of the defendant, in the county where the judgment is rendered, for the space of 10 years after the rendition thereof, and no longer, exclusive of the time during which the party may be restrained from proceeding thereon by appeal or injunction, or by the death of the defendant or by the agreement of the parties entered of record. Judgments on bonds payable to the state of Indiana bind the real estate of the debtor from the commencement of the action; and transcripts of judgments from justices of the peace and courts of record bind real estate in the county from the time of filing in the office of the clerk of the circuit court therein. Transcripts of judgments of the United States courts for Indiana may be filed in the office of the clerk of any circuit court, and thereupon such judgments become a lien on realty and chattels real as fully as if rendered in such local circuit court. Judgment notes are not in use. Confession of judgment may be made by party in open court.

Iowa.-Judgments in the supreme and district courts of this state are liens upon the real estate owned by the defendant at the time of such rendition, and also upon all that he may subsequently acquire, for a period of 10 years from the date of the judgment; and while a judgment is not barred until 20 years, it can be made a lien upon real estate after 10 years only by the issuance of execution and levy upon such property. When the lands lie in the county wherein the judgment was rendered, the lien shall attach from the date of such rendition; but if the lands lie in any other county the lien does not attach until an attested copy of the judgment is filed in the office of the clerk of the district court of the county in which the land lies. Judgments in the district or circuit courts of the United States, if rendered in this state, may be made liens upon the real estate owned by the defendant, and also on all he may subsequently acquire, for the period of 10 years from the date of the judgments, by filing an attested copy of the judgment in the office of the clerk of the state district court of the county in which the land lies. Judgments rendered in the superior courts of