The Free lance. (State College, Pa.) 1887-1904, June 01, 1892, Image 6

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    no such organization. Its true they have had
enough organic life hanging fire to claim .filling
up space in the college Annual, but that is not
quite the thing.
Its all right to aim high in athletics, to heartily
support them with our money and encourage
with our enthusiasm, in fact we almost scorn the
lack of these qualities in a college man, but there’s
no use in an institution becoming warped clear
out of other just as truly college features. No
use in becoming phenatically hipped on one and
letting others suffer utter neglect.
If our musical talent will keep its eyes open
during this vacation and return meaning business,
there’s no reason why P. S. C. cannot claim
honors on this score too.
EARNEST OR PART PAYMENT.
There was an ancient custom, which was deem
ed more or less necessary, for contracting parties
to shake hands to signify the completion of the
bargain. It was called handsale. The giving of
Earnest followed this custom. From early au
thorities it may be learned that the earnest form
ed no part of the purchase price. It was given
only as a token. It might consist of a ring, or
any article of value. The custom was suited to
the manners of unlettered ages, and is now al
most fallen into disuse. The words are not in the
statutes of many of the States, but the statutes of
most of the States declare that unless the buyer,
at the time of the contract, pay some part of the
purchase money, or give something in Earnest to
bind the bargain, it is void; and it is held that
mere tender of Earnest, or part payment, is not
sufficient. The Earnest must be given, or part
payment must be made, at the time of the making
of the contract. It will be understood, however,
that if there be a sufficient memorandum in writ
ing, signed by the parties, the contract will be
binding under the statute known as the stature of
frauds. The English statute of frauds which has
served the model for all subsequent statutes, was
'I'HE FREE LANCE.
passed in the 29th year of Charles the Second,
1677. The 17th section reads as follows : “And
bee it further enacted by the authority aforesaid,
That from and after the said fower and twentyeth
'day of June, noe Contract for the Sale of any
Goods, Wares or Merchandises for the price of
ten pounds Sterling or upward shall be allowed to
be good except the Buyer shall accept part of the
Goods soe sold, and actually receive the same, or
give something in earnest to bind the bargaine, or
in part payment, or that Some Note or Memoran
dum, in writing, of the said bargaine be made and
signed by the partyes to be charged by such Con
tracts or their Agents thereunto lawfully au
thorized. ”
In most of the statutes of the States of the
Union the price stated is $5O ; in Alabama, Cali
fornia and Idaho it is $200; in Arkansas, New
Jersey, Maine and Missouri, $3O; in Arizona,
#100; in New Hampshire, #33; in Vermont $4O;
in Utah, $3OO.
The Florida, lowa and Kansas statutes cover
sales of personalty at any price.
As stated, if there be no memorandum in writ
ing, the possession of the goods must have passed,
and the goods must have been accepted, or some
thing given in Earnest or in part payment to bind
the bargain, and the part payment must be made
at the time of making the contract If it is not
so made, but is subsequently made,. it does not
make good the previous void agreement, but it
serves to make a new agreement. It is also de
cided that the part payment or earnest must be in
money or in money’s worth, that is, something of
intrinsic value.
If the buyer gives his note at the time of the
contract, it is neither earnest nor part payment,
but a note of a third party may be received as earn-
est or part payment.
If the purchaser holds the seller’s note, a sur
render of the noteat the time of the contract will
be part payment under the statute. I will con
clude by citing one of the earliest English cases,
illustrating the effect of a part payment at the