VIII. Acknowledgment by Mortgagee, &c. of agreement gagee. [purchaser] in fee simple in possession, free from incumbrances, and particularly from the said mortgage debt of £ and all interest thereon, and all claims and demands in respect thereof: AND WHEREAS the deeds and writings specified in the schedule hereunder written relate not only to as to possesthe premises conveyed by the said indenture of even date sion of deeds. herewith, but also to other hereditaments which still remain subject to the herein before-recited indenture of mortgage; And it has been agreed between the parties hereto that the said [mortgagee] shall give the acknowledgment hereinafter contained, and that the said [mortgagor] shall enter into the covenants on his part also hereinafter contained: NOW THIS Acknowledg INDENTURE WITNESSETH that, in pursuance of the ment by mortsaid agreement, and in consideration of the premises, the said [mortgagee] hereby acknowledges the right of the said [purchaser] to production and delivery of copies of the several deeds and writings specified in the schedule hereunder written: AND Covenant by the said [mortgagor] hereby covenants with the said [purchaser] that he the said [mortgagor] will, at the request of the said [purchaser], or of any person or persons lawfully claiming under him execute and do all such acts and things as by him or them may reasonably be required for procuring the production and delivery of copies of the said deeds and writings by the said [mortgagee], or any other person having possession or control thereof from time to time; AND ALSO that, when and so soon hereafter as the said deeds and writings shall come into the possession or control of him the said [mortgagor], or any person or persons lawfully claiming under him, he or they will thenceforth keep the same deeds and writings safe, whole, uncancelled and undefaced, unless prevented from so doing by fire or other inevitable accident. IN WITNESS, &c. (d). THE SCHEDULE above referred to. mortgagor. (d) The acknowledgment here given by the mortgagee, who Mortgagor retains possession of the documents, will run with the documents, cannot give and bind them in the hands of a transferee of the mortgage, or acknowledgment. of the mortgagor, on payment off of the mortgage. A mortgagor is not in a position to give an undertaking, inasmuch as he does not "retain possession of the documents; he should, therefore, enter into a covenant as in the text. A deed stamp of Stamp. 10s. will be required. Schedule of documents. Acknowledgment of receipt. 44 & 45 Vict. Bailment. IX. ACKNOWLEDGMENT by a MORTGAGEE to a MORTGAGOR of the Receipt of TITLE DEEDS (e). A SCHEDULE of the several deeds and writings this day delivered by [mortgagor], of, &c., to [mortgagee], of, &c., ̈ upon the execution of a mortgage of a certain leasehold messuage and premises situate at in the parish of for securing the payment by the in the county of and interest, at £- per centum per annum, unto the said [mortgagee]. 11th February, 1872.-Indenture of Lease made between A. B., of, &c., of the one part, and C. D., of, &c., of the other part. 22nd March, 1881.-Indenture of Assignment made between the said C. D., of the one part, and the said [mortgagor] of the other part. 15th October, 1883.-Indenture of Mortgage made between the said [mortgagor] of the one part, and the said [mortgagee] of the other part, for securing the payment of a sum of £and interest at £4 per centum per annum. I HEREBY ACKNOWLEDGE the several deeds and writings above mentioned were this day received by me, and are now retained by me in my possession (f). WITNESS my hand this day of 18-. [Mortgagee's signature.] (e) By sect. 16 of the Conveyancing Act, 1881, "A mortgagor, as long as his right to redeem subsists, shall by virtue of this Act be entitled from time to time, at reasonable times, at his request, and at his own cost, and on payment of the mortgagee's costs and expenses in this behalf, to inspect and make copies, or abstracts of, or extracts from, the documents of title relating to the mortgaged property in the custody or power of the mortgagee.' (f) It is now understood, that acceptance of goods to be kept generally, is merely an undertaking to keep them as the party receiving keeps his own: Hargr. Co. Litt. 89 a, (9). And the notion of Lord Coke, "to keep and to keep safely, are one and the same thing" (Co. Litt. 89 a): Southcote's case, 4 Rep. 83 b, was denied to be law by the whole court, in the time of Chief Justice Holt: Coggs v. Bernard, 2 Ld. Raym. 911, 912; S. C., 1 Smith's L. C. 199. A depositary is responsible only for gross neglect; or, in other words, for a violation of good faith: and a depositary, whose character is known to his depositor, shall not answer for mere neglect, if he take no better care of his own goods, and they also be spoiled or destroyed. If such a deposit of title. deeds as the above, without any express stipulation as to the degree of care, be looked upon as a pawn or pledge, a pawnee is X. ACKNOWLEDGMENT of SATISFACTION as to SATISFACTION is acknowledged between A. B. and C.D. as to a [here insert the judgment, lis pendens, &c.], dated the 18, for the sum of £ a day of memorandum of which said [judgment, &c.] was left with the Registrar of Judgments at the Central Office of the Supreme Court of Judicature, on the to affect the estate of of execution thereon, dated the day of answerable only for ordinary neglect: Vere v. Smith, 1 Vent. 121. And if the pawnee, notwithstanding ordinary care, loses any of several articles pledged, he has a right to retain the residue for the whole of his debt: Ratcliffe v. Davies, Yelv. 178. But all bailees become responsible for losses by casualty or violence, after their refusal to return the things bailed, on a lawful demand: Jones on Bailments, 42, 120, 121; Noy's Maxims, 215, 216, 9th ed.; see also Story on Bailments, §§ 63, 64, 7th ed. The degree of care with which the bailee keeps his own goods is immaterial, except as an aid towards judging whether he has been guilty of gross neglect in respect of the goods deposited; the rule being that a gratuitous bailee is, in the absence of any Liability of stipulation to the contrary, liable for gross negligence, and for bailee for gross negligence only: Doorman v. Jenkins, 2 A. & E. 256; loss. S. C., 4 Nev. & M. 170; Beauchamp v. Powley, 1 M. & Rob. 38; Finucane v. Small, 1 Esp. 315; Gibbin v. MacMullen, L. R., 2 P. C. 317; Trefftz v. Canelli, L. R., 4 P. C. 277; see also Chanter v. Money, 12 Ir. C. L. 161. If the situation or profession of a party who gratuitously undertakes to do an act is such as to imply that he has skill in respect of that act, his omission to exercise that skill is in him gross negligence, although it would not be so in an ordinary person. Per Lord Loughborough, Shiells v. Blackburne, 1 H. Bl. 158. When the bailment is for reward, the bailee is bound to take the utmost care of the property: Re United Service Co., Johnson's Claim, L. R., 6 Ch. 212. Where it is for the benefit of both parties, as in the case of a hiring, depositing with an artisan, &c., he must use ordinary care: Dean v. Keate, 3 Camp. 4; Bringloe v. Morrice, 3 Salk. 271; Vere v. Smith, 1 Vent. 121; Clarke v. Earnshaw, 1 Gow, 30; Leck v. Maestaer, 1 Camp. 138. See generally, on the question of bailment, the notes to the case of Coggs v. Bernard, in Sm. L. C. 199. Where the chattel is lost out of the possession of a simple Rights of bailee without reward, it may be recovered in trover by either owner and the owner or the bailee: Nicholls v. Bastard, 2 Cr., M. & R., Da Ex. 659. As to the loss of mortgage or title deeds by a mortgagee, vide post, sub tit. MORTGAGES. (g) This is the statutory form appended to the stat. 23 & 24 Vict. c. 115, as to which see ante, p. 107, sub tit. ABSTRACTS. bailee after X. Acknow- a memorandum of which was left with the said Registrar on the ledgment of Satisfaction of Attestation(h) day of And 18-. [or, the executor or administrator of] do hereby expressly nominate and appoint of solicitor [or, attorney-at-law], to witness and attest the execution of this acknowledgment of satisfaction. XI. ACKNOWLEDGMENT of TITLE 80 as to bar the STATUTES of LIMITATIONS (i). I [occupant], of, &c., do hereby admit and declare that I by the sufferance and permission of of under Dated this То day of esquire. -, 18-. [Signature of Occupant.] (h) Where the plaintiff is a solicitor it is not necessary for another solicitor to attest the acknowledgment: the attestation may be by his clerk or any other person. (i) No stamp is required: Barry v. Goodman, 2 M. & W. 768. AGREEMENTS. PRELIMINARY DISSERTATION. Sect. 1.-Of Parol Agreements and the Statute of Frauds. Sect. 2.-Of Stamps on Agreements. Stamp Act, 1870, 33 & 34 Vict.c.97 381 Stamp governed by Effect of In Re-stamping 393 Alterations and Escrows... 393 strument What Agreements within the Act 383 Instruments executed Abroad 382 Several Stamps required when one 391 Document comprises distinct 396 |