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No. 170.

Reservation by grantor of right of maintenance for life.29

The said first party hereby reserves to herself the right of her comfortable maintenance upon the within described premises in the family of the second party, during her natural life, and the second party shall not sell, or convey, the said within described premises, during the natural life of the said first party, without her consent.

713.

Adapted from Tacker v. Tacker (1907), 122 App. Div. 308, 106 N. Y. Supp.

CHAPTER VIII

GUARANTOR AND GUARANTEE

Section 1.-Absolute Guaranties.

No. 171-Absolute guaranty of payment of account.
No. 172-Absolute guaranty of payment of mortgage.
No. 173-Absolute guaranty of payment of part of note.

No. 174-Absolute guaranty of payment of promissory notes and renewals thereof.

No. 175-Absolute guaranty of performance of award of arbi

trators.

No. 176-Absolute guaranty of performance of contract.

No. 177-Absolute guaranty of performance of lease.

No. 178-Absolute guaranty by stockholders of contract made by their corporation, with pledge of stock as security.

Section 2.-Conditional Guaranties.

No. 179-Conditional guaranty of lease, which will include term of renewal, under option exercised by tenant.

No. 180-Conditional guaranty of payment of negotiable instruments, subject to demand.

No. 181-Conditional guaranty, whereunder seller of stock guarantees specific return to buyer.

Section 3.-Continuing Guaranties.

No. 182-Continuing guaranty of performance by buyers of contract of sale.

No. 183-Continuing guaranty of performance of contract of em

ployment.

SECTION 1.—ABSOLUTE GUARANTIES.

No. 171.

Absolute guaranty of payment of account.1

KNOW ALL MEN, that, in consideration of the making of a contract between Richard Roe and the Koe Electric Company, for the supply of electric current, and for value received, I, John Doe, residing at No. 112 Broadway, Borough of Manhattan, New York City, hereby guaranty to the said Koe Electric Company the payment of the account of the said Richard Roe, and I hereby waive notice of the non-payment of the said account by the said Richard Roe and of failure of the collection of same.

IN WITNESS WHEREOF, I have hereunto set my hand and seal, this 5th day of January, 1923.

In the presence of

John Jones.

John Doe (L.S.).

No. 172.

Absolute guaranty of payment of mortgage.2

KNOW ALL MEN, that,

WHEREAS, John Doe heretofore executed and delivered to me a certain mortgage in the sum of fifty thousand ($50,000) dollars, dated January 4, 1922, and recorded in the office of the register of the county of New York on January 5, 1922, in liber 275A, page 386, of Mortgages; and

WHEREAS, I, Richard Roe, residing at No. 111⁄2 Broadway, Borough of Manhattan, New York City, am about to assign all my right, title and interest in said mortgage to Henry Koe, residing at No. 371⁄2 Broadway, Borough of Manhattan, New York City:

.

Now, THEREFORE, I, the said Richard Roe, in consideration of the said Henry Koe accepting such assignment of said mortgage, do hereby guaranty to the said Henry Koe the payment of the amount of said mortgage.

1 Cf. Voorhees v. Porter (1904), 134 N. C. 591, 47 S. E. 31, 65 L. R. A. 736. 2 Adapted from Pfeiffer v. Crossley (1918), 91 N. J. L. 433, 103 Atl. 1000.

IN WITNESS WHEREOF, I have hereunto set my hand and seal, this 5th day of January, 1923.

In the presence of

Richard Roe (L.S.).

John Jones.

No. 173.

Absolute guaranty of payment of part of note."

KNOW ALL MEN, that, in consideration of the loan by The Doe Trust Company to the Koe Company, a corporation, duly organized under the laws of the State of New York, and in further consideration of one ($1) dollar to me in hand paid by the Doe Trust Company, and other good and valuable considerations, the receipt whereof is hereby acknowledged, I, the undersigned, do hereby guaranty to the said The Doe Trust Company, the punctual payment, at maturity, of a certain promissory note, dated January 5, 1923, for the principal sum of five thousand ($5,000) dollars, with interest at the rate of six per cent per annum, to be made, executed and delivered by the said Koe Company to the said The Doe Trust Company, together with all legal and other expenses of collection; and I hereby expressly waive presentment for payment, notice of presentment and of non-payment, protest and notice of protest of said note, and consent that the time for the payment thereof may be extended, without notice to, or further consent from me.

Dated, New York, January 5, 1923.

In the presence of

John Jones.

Richard Roe (L.S.).

No. 174.

Absolute guaranty of payment of promissory notes and renewals thereof."

KNOW ALL MEN, that

WHEREAS, the Doe National Bank, of New York City, at my special instance and request, has loaned to Koe Co., Inc., a cor

Adapted from National Surety Co. v. Seaich (1916), 171 App. Div. 414, 157 N. Y. Supp. 442.

Adapted from First National Bank v. Jones (1916), 219 N. Y. 312, 114 N. E.

poration, duly organized under the laws of the State of New York, and having its principal office at No. 371⁄2 Broadway, Borough of Manhattan, New York City, certain sums of money, aggregating the sum of ten thousand ($10,000) dollars; and

WHEREAS, the said Doe National Bank, of New York City, holds the promissory notes of the Koe Co., Inc., for such loans, which notes are payable at various times; and

WHEREAS, the Doe National Bank, of New York City, at my special instance and request, has loaned to Henry Koe, residing at. No. 112 Broadway, Borough of Manhattan, New York City, certain sums of money, aggregating the sum of ten thousand ($10,000) dollars; and

WHEREAS, the said Doe National Bank, of New York City, holds the promissory notes of the said Henry Koe, for such loans, which notes have been endorsed by the Koe Co., Inc., and are payable at various times:

Now, THEREFORE, I, John Doe, residing at No. 572 Broadway, Borough of Manhattan, New York City, hereby covenant and agree with the said Doe National Bank, of New York City, to guaranty, and I do hereby guaranty, the full and prompt payment of all of the said notes, aggregating the sum of twenty thousand ($20,000) dollars, and of any and all renewals thereof, or of any of them, when the same shall become due and payable, until all of said loans and notes, and any and all renewals thereof, are fully paid and discharged.

IN WITNESS WHEREOF, I have hereunto set my hand and seal, this 5th day of January, 1923.

In the presence of

John Doe (L.S.).

John Jones.

No. 175.

Absolute guaranty of performance of award of arbitrators.

KNOW ALL MEN, that, in consideration of the Doe Rattan & Reed Manufacturing Co., a corporation, duly organized under the laws of the State of New York, and having its principal office at No. 111⁄2 Broadway, Borough of Manhattan, New York City, entering into a contract with John Doe, residing at No. 37%

Adapted from American Rattan & Reed Mfg. Co. v. Cone (1921), 198 App. Div. 843, 190 N. Y. Supp. 782.

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