of said wall as the portion thereof, which he may use, shall bear to the value of the whole of said wall, and such value shall be ascertained, in the event of a disagreement in respect thereof between the parties, by arbitration; and each party, in the event of such disagreement, shall choose one disinterested person to ascertain and fix such valuation, and, in case the persons so chosen shall be unable to agree, the persons so chosen shall choose a third person to aid in ascertaining and fixing such valuation, and a decision of any two of such persons, shall be binding upon both parties. 5. That, if either party shall, at any time, desire to raise said wall to a greater height than that to which it may at first be carried, he shall be at liberty to do so, and such additional wall shall be made and constructed by such party wholly at his expense, unless the other party shall desire to use the whole, or any portion, of such additional wall; and, in such a case, such other party shall pay for the same in the manner above provided for the main wall. 6. That, if it shall be necessary, at any time, to repair, or rebuild, the whole, or any portion, of said wall, the expense of such repairing, or rebuilding, shall be borne equally between the said parties as to such portions of such wall as shall be used in common by them, and the cost of repairing, or rebuilding, the remaining portion thereof shall be borne wholly by the party, who may exclusively use the same. 7. That, whenever said wall shall be repaired, or rebuilt, it shall occupy the same space and shall be of the same, or similar, materials, and of the same size, as the present wall, unless any law, or laws, hereafter in force and effect, shall require a wall of different dimensions; and, in such event, such wall, when so repaired, or rebuilt, shall be of the dimensions required by such law, or laws. 8. That nothing in this agreement contained shall be deemed to vest in either party any part of the fee of the soil upon which the said party wall shall stand. 9. That this agreement shall be perpetual, and shall bind the parties hereto, and their respective heirs, administrators and assigns. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals, the day and year first above written. John Doe (L.S.). Richard Roe (L.S.). In the presence of John Jones. No. 124. Agreement of adult ratifying debt incurred when a minor." THIS AGREEMENT, made January 5, 1923, between John Doe, residing at No. 111⁄2 Broadway, Borough of Manhattan, New York City (herein called the "First Party"), and Richard Roe, residing at No. 372 Broadway, Borough of Manhattan, New York City (herein called the "Second Party"), WITNESSETH: WHEREAS, the First Party, on or about August 1, 1922, sold and delivered to the Second Party certain goods, wares and merchandise, consisting of five yards of cloth, of the reasonable value of fifty ($50) dollars; and WHEREAS, at the time of the sale and delivery of such goods, wares and merchandise, the Second Party was under the age of twenty-one years; and WHEREAS, the Second Party attained the age of twenty-one years on December 1, 1922, and desires to ratify and pay the said debt, with interest thereon at the rate of six (6%) per cent per annum from August 1, 1922: Now, THEREFORE, IT IS HEREBY MUTUALLY AGREED, AS FOLLOWS: 1. That the Second Party hereby ratifies his aforesaid purchase of certain goods, wares and merchandise, consisting of five yards of cloth, of the reasonable value of fifty ($50) dollars, sold and delivered by the First Party to the Second Party, on or about August 1, 1922. 2. That the Second Party shall pay to the First Party, and the First Party shall receive from the Second Party, the said sum of fifty ($50) dollars, with the interest thereon at the rate of six (6%) per cent per annum from August 1, 1922, within three months from the date hereof, in full payment of the said goods, wares and merchandise so sold and delivered on or about August 1, 1922. 3. That, for a period of three months from the date hereof, the First Party shall not institute any suit, or action, against the Second Party to recover the said sum of fifty ($50) dollars. Cf. Edmando v. Mister (1881), 58 Miss. 765; N. H. Mutual Fire Ins. Co. v. Noyes (1855), 32 N. H. 345. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals, the day and year first above written. In the presence of John Jones. No. 125. John Doe (L.S.). Richard Roe (L.S.). Agreement of arbitrators selecting and appointing a third arbitrator-official form.3 ARBITRATION SOCIETY OF AMERICA John Doe -and Designation of Third Richard Roe The undersigned, having been duly designated as Arbitrators under the terms of a Submission entered into by the above parties, and dated January 5th, 1923, do hereby select and appoint John Jones of No. 371⁄2 Broadway, Borough of Manhattan, New York City, as the third Arbitrator, pursuant to said submission. Dated, New York, January 5th, 1923. Henry Koe. No. 126. Agreement of composition.* THIS AGREEMENT, made January 5, 1923, by John Doe, residing at No. 111⁄2 Broadway, Borough of Manhattan, New York City (herein called the "Debtor"), and such of the creditors of the said Debtor, who shall become parties hereto (herein called the "Creditors"), WITNESSETH: WHEREAS, the Debtor has been, and still is, engaged in the business of buying and selling books, stationery and other articles at No. 371⁄2 Broadway, Borough of Manhattan, New York City; and 'Adapted from the form prepared and used by the Arbitration Society of America, in New York City. Adapted from White v. Kuntze (1887), 107 N. Y. 518, 12 St. Rep. 297, 27 Week. Dig. 487. WHEREAS, the Debtor, in the course of transacting his business, has incurred divers debts, which he is unable to pay in full: Now, THEREFORE, IT IS HEREBY AGREED, AS FOLLOWS: 1. That the Creditors, each for himself, and not for the others, hereby severally agree with the Debtor, and with each other, to accept from the Debtor, and the Debtor agrees to deliver to each of us, in full satisfaction and discharge of our respective claims of every kind, whether now due, or which may hereafter become due, the sum of thirty-three and one-third ($.33 1/3) cents for each and every dollar of said indebtedness, to be paid in notes made by the Debtor, payable to our order, respectively, in three equal installments, at three months, six months and nine months from February 10, 1923. 2. That the Creditors, each for himself, and not for the others, hereby severally agree with the Debtor, and with each other, as follows: (a) That, upon the delivery of said notes to each of us, such delivery shall operate as a complete release and discharge of all of our respective claims and demands against him, and, thereupon, we shall severally surrender to him any and all notes, or other evidences of indebtedness, which we may hold against him. (b) That the Debtor may compromise with any other creditor, whose claim is less than two hundred ($200) dollars in amount, in such manner as the Debtor may deem advisable, anything hereinbefore contained to the contrary notwithstanding. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals, the day and year first above written. John Doe (L.S.). Richard Roe (L.S.). Debtor. In the presence of John Jones. Thomas Brown (L.S.). Creditors. No. 127. Agreement of composition, made after assignment for benefit of creditors, whereunder assignee is to resign and to account to creditors' committee, and third party conveys real property to creditors' committee in consideration of creditors releasing debtor, and creditors' committee is authorized to manage and sell all property of debtor, and to distribute proceeds among the creditors.5 AGREEMENT, made January 5, 1923, by John Doe and Richard Roe, individually and as partners engaged in business under the firm name of "Doe & Co.," and having an office at No. 111⁄2 Broadway, Borough of Manhattan, New York City (herein, individually, jointly and severally called the "First Party"), and Henry Koe, as assignee for the benefit of creditors of Doe & Co., residing at No. 371⁄2 Broadway, Borough of Manhattan, New York City (herein called the "Second Party"), and John Smith, residing at No. 572 Broadway, Borough of Manhattan, New York City (herein called the "Third Party"), and John Jones, Thomas Jones, and Henry Jones, all residing at No. 872 Broadway, Borough of Manhattan, New York City (herein called the "Trustees"), and the undersigned creditors of Doe & Co. (herein, individually, jointly, and severally, called the "Fifth Parties"), WHEREIN IT IS MUTUALLY AGREED, AS FOLLOWS: 1. The Second Party hereby agrees: (a) To resign as the assignee for the benefit of creditors of Doe & Co.; (b) To consent to the substitution of the Trustees in his place as such assignee ; (c) To account to said Trustees for all of his acts while such assignee; (d) To account to said Trustees for all property conveyed to him by the deed of assignment, executed and delivered to him on December 15, 1922; and (e) To convey to the said Trustees all property, for which, as such assignee, he is, or may be, accountable. 2. The First Party hereby authorizes and directs the Second Adapted from Painter v. Fletcher (1918), 182 App. Div. 616, 169 N. Y. Supp. 914. |