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Employ'd Note
Annuity Notes
Ch. Form
Notes
[21
Uses of such division
in cases
of trust — It
might be carried
to any extent
|21| [Uses of such division] In the case of Bank
paper Notes, the proposed intended uses of the division in <add> <del>
go no
further than the affording that sort of security
which bears reference to the danger of conveyance.
In the present instance such further uses are
proposed to be derived for it as shall accommodate render
that species of property adapted not only suitable
to cases of trust, still more so than even the
existing Stock Annuities, which but for this
additional engrossed security would naturally appear
present themselves as possessing an advantage
over the proposed Annuities in this point of
view.
2. The security afforded by the Bank books, a
confines itself to that one place: the security afforded
by the proposed paper, divided as is proposed,
spreads itself all over the country and visits attends
a man at his own home.
2. The security afforded by the Bank books requires
a Letter Power of Attorney — expence 11s besides
the Attorney's fees: or for every party whose abode
is at any distance from the Metropolis spot, a journey
still to an indefinite degree more expensive. The security afforded by
the proposed instrument discharges them of strikes off this
expence altogether
3. The security afford'd by the Bank books
is exposed to failure by personation: the security
afforded by the proposed instrument is not
exposed to any such failure.
Firms quadrip.
&c
when the sum
makes it worth while
N.B. In cases where two Trustees are not enough
and where the magnitude of the sum is such as calls
for an augmentation of the number , the Note might be
made so as to be divided into three, four, or more parts,
according to the number requisite. As an Indenture
is tripartite, quadripartite, quinquepartite, multipartite, and so forth so might an Annuity Note be made
tripartible, quadripartible, quinquepartible. A note of any of these kinds might be furnished by the
Annuity Note office, in lieu of a bipartible note in the ordinary form, for considerable
extra fee. Compared with Form p.2 & Plan p: 2.