Bond to Secure Annuity.

next preceding the decease of the survivor of them up to the day of the death of such survivor, then the said obligation is to be void; but if default shall be made in payment of the said annual sum, or any part thereof, at any of the times aforesaid, then the said obligation is to remain in full force. [Signature and seal.]

394. Bond for Payment of An Annuity for a Term of Years. KNOW ALL MEN by these presents, that I, A. B., of the town of the county of

in

and State of merchant, am [or, we, A. B., of, etc., and C. D., of, etc., are] held and firmly bound unto Y. Z., widow of W. Z., deceased, of the town of in the county of and State of [or, unto W. X., of, etc., and Y. Z., of, etc.], in the sum of dollars, good and lawful money of the United States, to be paid to the said Y. Z., her executors, administrators, or assigns [or, to the said W. X. and Y. Z., their executors, administrators, or assigns], for which payment, well and truly to be made, I do bind myself, my heirs, executors, and administrators [or, we do bind ourselves, our heirs, executors, and administrators, jointly and severally] firmly by these presents.

Sealed with my seal [or, our seals]; dated this day of , 18. THE CONDITION of the above obligation is such, that if the above-bounden A. B., his [or, A. B. and C. D., their] heirs, executors, or administrators, or any of them, shall yearly and every year, during the term of 4 years, to be computed from [the day of last past before] the day of the date of the above-written obligation, well and truly pay, or cause to be paid, unto the above-named Y. Z., her executors, administrators, or assigns, the annuity or clear yearly sum of dollars, by even and quarterly [or, half-yearly] portions, paid at or upon the days of the months of in each year, the first payment thereof to begin and be made on the day of next ensuing the day of the date of this obligation, and also pay a proportionable part of the said annuity, or clear yearly payment of for, or in respect of so many days as shall have elapsed from the last half [or, quarter] yearly day of payment next preceding the decease of the said Y. Z. up to the day of her death, then this obligation is to be void; but if default shall be made in payment of the said annuity, or any part thereof, at any of the times aforesaid, then the said obligation is to remain in full force.. [Signature and seal.]

395. Bond for Payment of Money Upon Expiration of Apprenticeship, or Upon Marriage.

[Penal clause as in Form 394 to the *, continuing thus:]

WHEREAS the above-named A. B. hath apprenticed himself to C. D., of

unto the full end and term of

with him to dwell and serve as his apprentice, from the day of years from thence next ensuing, and fully to be complete and ended, as by the said indenture of apprenticeship fully appears: and whereas the above-named Y. Z., hath before the day of the date of the above obligation, at several times lent to and disbursed for the said A. B., several sums of money, amounting in the whole

to the sum of

For Payment of Money Only.

dollars, for which the said Y. Z. is content to take this his bond or obligation, payable at the expiration of the apprenticeship of the said A. B., or the day of marriage of the said A. B., whichever shall first happen: Now, THEREFORE, the condition of this obligation is such, that if the said above-bounden A. B., his heirs, executors, or administrators, or any of thein, shall well and truly pay, or cause to be paid, to the said Y. Z., his executors, administrators, or assigns, the just and full sum of dollars, at the end or expiration of the said apprenticeship of the said A. B., or term of years above mentioned, or on the day of marriage of the said A. B., whichever shall first and next happen to be or come after the date of these presents, then this obligation to be void; otherwise, to remain in full force. A. B. [Seal.]

396. Bond or Bill for An Unliquidated Sum.

KNOW ALL MEN by these presents, that I, A. B., of merchant, am held and firmly bound to Y. Z., of said place, banker, in all and every such sums and sum of money, as already have been, or hereafter shall or may be paid or advanced by him for me; and all such sums of money, to pay which a liability or engagement has been, or shall, or may be entered into or incurred by him the said Y. Z., by reason or means of accepting or paying the drafts, bills, or promissory notes of me the said A. B., or by discounting for me other bills of exchange or promissory notes, or by affording to me other pecuniary assistance, together with lawful interest upon the same, from the time or respective times of paying or advancing the same; and also the commissions and other charges according to lawful custom, to be paid to the said Y. Z., his executors, administrators, or assigns; for which payment, well and truly to be made, I bind myself, my heirs, executors, and administrators, firmly by these presents. SEALED with my seal; dated this

day of

[Signature and seal.]

397. By Debtors to Pay According to a Composition Deed.

[The penal clause will be as in Form 376 or 378 to the †, thence continuing thus:]

WHEREAS the above-named Y. Z. has, with other creditors of the abovebounden A. B. [and C. D.], agreed to take cents on a dollar, as a

composition in full for every dollar owing him by the said A. B. [and C. D.], which is to be paid in manner following-viz., part thereof, on the day of

the residue thereof, on the

cents on the dollar, a cents on the dollar more,

,18 and

[or, A. B. and C. D., have] agreed to give bond to every of said creditors, for the said cents on the dollar, to be paid at the times aforesaid; and whereas there was due and owing to the said Y. Z., at the time of executing said deed of composition, the just sum of dollars: Now THE CONDITION of the above obligation is such, that if the said A. B., his [or, A. B. and C. D., their] heirs, executors, administrators, and assigns, or any of them, shall and do well and truly pay to the said Y. Z., his executors,

Bottomry Bond.

administrators, or assigns, the just and full sum of

said debt, on

dollars, part of the

[the day of the first payment], and the further sum of dollars, residue of the said debt, on [the day of the next payment, etc.], then this obligation shall be void and of no effect; but if the said A. B. shall make default of payment of either of the said sums, at the said times respectively, then this obligation shall be and remain in full force and virtue. [Signatures and seals.]

II. BOTTOMRY AND RESPONDENTIA BONDS.

These are bonds for payment of money, but are presented separately for greater convenience. A bottomry bond is given where money is borrowed for the purposes of a voyage, upon a mortgage of the ship, accompanied usually with the personal obligation of the borrower to repay it, but upon condition that the loss of the ship exonerates the borrower. To such a loan the usury laws do not apply, and the lender may stipulate for interest beyond the lawful rate. Such a bond is termed a bottomry bond, because loan is risked on the hull or bottom of the ship.

Respondentia is a contract similar to bottomry, except that the loan is made upon the chance of the safe arrival of the cargo.

398. Bottomry Bond.

KNOW ALL MEN by these presents, that I, A. B., master [or, owner, or, master and owner] of the ship or vessel called the Mary, now lying at the port of am held and firmly bound unto Y. Z., of the city of

and State of

in the county of merchant [or, unto W. X., of, etc., and Y. Z., of, etc.], in the sum of dollars, good and lawful money of the United States [or other currency in which payment is to be made], to be paid to the said Y. Z., his executors, administrators, or assigns [or, to the said W. X. and Y. Z., their executors, administrators, or assigns], for which payment, well and truly to be made, I do bind myself, my heirs, executors, and administrators, and also the said ship or vessel, her tackle, apparel, and furniture [and freight], firinly by these presents. Sealed with my seal; dated this day of

, 18 .t

WHEREAS the above-bounden A. B. has borrowed, taken up, and received of the said Y. Z., the full and just sum of dollars, which sum is to run at bottomry on the body, tackle, apparel, and furniture [and freight) of the said ship or vessel [here state the voyage for which the loan is made-e. g., thus:] from the port or road of M., on a voyage to the port of N., having permission to touch, stay at, and proceed to all ports and places within the limits of the voyage, at the rate or premium of per cent. for the voyage [or, at the rate or premium of per cent. for every calendar month the said ship or vessel shall be out on said voyage, and so in proportion for a less time than a month], in consideration whereof the usual risks of the seas, rivers, enemies, fires, pirates, etc., are to be on account of the said Y. Z.: And whereas for the further security of the said Y. Z., the said A. B. has agreed to and does by these presents mortgage and assign over to the said Y. Z., his executors, administrators, and assigns, the said ship or vessel [and her freight], together with all her tackle, apparel, and furniture;

BONDS.

Bottomry.

and it is hereby declared that the said ship or vessel and appurtenances [and her freight], are thus assigned over for the security of the bottomry taken up by the said A. B., and shall be delivered to no other use or purpose whatever, until payment of this bond is first made, with the premium that may become due thereon.

being

NOW THE CONDITION of the above obligation is such, that if the abovebounden A. B., his heirs, executors, and administrators, or either of them, shall and do well and truly pay, or cause to be paid, unto the said Y. Z., or legally authorized to receive the same, or to his to his attorneys in executors, administrators, or assigns, the full and just sum of the principal of this bond, together with the premium which shall become days after the safe due thereupon, at or before the expiration of arrival of the said ship or vessel at her moorings in the harbor of N., or, in case of the loss of the said ship or vessel, such an average as by custom shall have become due on the salvage, then this obligation is to be void; otherwise, to remain in full force. Having signed three bonds of the same tenor and date, either one thereof being accomplished, the other two are A. B. [Seal.] to be void and of no effect.

399. Bottomry Bond by a Part Owner, Signing as Attorney for Other

of

and State of

Owner.

KNOW ALL MEN by these presents, that I, A. B. [master, and] one-third for myowner of the ship or vessel Mary, now lying in the port of self, and C. D., who owns the other two-thirds of said ship or vessel, by me, in the county are held and firmly bound unto Y. Z., of the city of merchant [or, unto W. X., of, etc., and Y. Z., dollars, good and lawful money of the United of, etc.], in the sum of States [or other currency in which payment is to be made], to be paid to the said Y. Z., his executors, administrators, or assigns [or, to the said W. X. and Y. Z., their executors, administrators, or assigns], for which payment, well and truly to be made, we bind ourselves, our heirs, executors, and administrators, firmly by these presents. Sealed with our seals; dated this [Second paragraph as in form preceding.]

day of

18 t

Now, THEREFORE, THE CONDITION of the above obligation is such, that if the above-bounden A. B. and C. D., their heirs, executors, or administrators, or either of them, shall well and truly pay, or cause to be paid, unto the said Y. Z., or to his [or, to W. X. and Y. Z., or to their] attorneys, at legally authorized to receive the same, or to the executors, administrators, dollars, or assigns of said W. X. [and Y. Z.], the just and full sum of being the principal of this bond, together with the premium which shall days after the become due thereon, at or before the expiration of ; or, in case of the arrival of the said ship or vessel at the port of

loss of the said ship, such an average as by custom shall have become due on the salvage, then this obligation is to be void; otherwise, to remain in full force.

Respondentia Bonds.

Having signed three bonds of the same tenor and date, either one thereof of which being accomplished, the other two are to be of no effect.

dol

[The penal clause will be as in Form 398 to the †, thence continuing thus:] WHEREAS the above-bounden A. B. has [or, A. B. and C. D. have] borrowed, taken up, and received of the said Y. Z. the full and just sum of dars, which sum is to run at respondentia on the said ship or vessel [here state the voyage for which the loan is made], at the rate or premium of per cent. for the voyage [or, at the rate of per cent. for every calendar month the said ship or vessel shall be out on the said voyage, and so in proportion for a less time than a month]; in consideration of which, the usual risks of the seas, rivers, enemies, fires, pirates, etc., are to be on the account of the said Y. Z.; and whereas for the further security of the said Y. Z., the said A. B., for and on account of the owners, their executors, administrators, and assigns, has agreed to, and does by these presents mortgage and assign over to the said Y. Z., the several goods, wares, and merchandise laden and to be laden on the said ship or vessel; which said goods, wares, and merchandise, with their produce, are thus mortgaged and assigned over, for the security of the respondentia taken up by the said A. B., and shall be delivered to no other use or purpose whatever, until payment of this bond is first made, with the premium that may become due thereon:

NOW THE CONDITION of the above obligation is such, that if the abovebounden A. B., his heirs, executors, and administrators, or any of them, shall well and truly pay, or cause to be paid, unto the said Y. Z. or to his attorneys [or, to W. X. and Y. Z., or to their attorneys], at legally authorized to receive the same, or to the executors and administrators of the said [W. X. and] Y. Z., the just and full sum of dollars, being the principal of this bond, together with the premium which shall become due thereupon, at the expiration of months after the safe arrival of the said ship or vessel at her moorings in the port of or in case of the loss of the said ship or vessel, such average as by custom shall have become due on the salvage, then this obligation is to be void; otherwise, to remain in full force. Having signed three bonds of the same tenor and date, either one thereof being accomplished, the other two are to be of no effect.

A. B. [Seal.]

III. BONDS FOR THE PERFORMANCE OR NON-PERFORMANCE OF VARIOUS ACTS.

A bond conditioned for the performance of a specific act is broken by failure to perform it; but where the condition is to indemnify the obligee from damage from a non-performance, there is no breach until the obligee has been damnified by being compelled to pay, or otherwise.

In bonds with conditions for the performance of duties preceded by recitals of what the duties are, general terms in the condition are restrained by the