A Series of Letters to a Man of Property On the Sale Purchase Mortgaging Lea
A Series of Letters to a Man of Property On the Sale Purchase Mortgaging Lea
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; and in some cases, the expense of insuring the last life. The annuity is made repurchasable by the borrower. It was a considerable time before this sort of transaction in all its bearings was deemed legal. After its validity was estab- ( 90 ) lished, life annuities, from the pressure and ex- travagance of the times, became so common, and such gross frauds were -practised on bor- rowers, that the Legislature deemed it proper to interpose its strong arm, and place these transactions under certa...in restraints. The chief object was to disclose the name of the real len- der, and to gi\e publicity to the transaction. This measure, however, was not attended with all the salutary consequences which were ex- pected ; it was therefore lately repealed, and more simple provisions substituted for attain- ing the same end. Three lives in these cases are named, in order to save the expense of insur- ance ; for in all these cases, the lender will not advance his money unless his principal can be assured to him ; and it is taken for granted, that the annuity will be repurchased.
What to read after A Series of Letters to a Man of Property On the Sale Purchase Mortgaging Lea?
You can find similar books in the "Read Also" column, or choose other free books by Edward Burtenshaw Sugden to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
; and in some cases, the expense of insuring the last life. The annuity is made repurchasable by the borrower. It was a considerable time before this sort of transaction in all its bearings was deemed legal. After its validity was estab- ( 90 ) lished, life annuities, from the pressure and ex- travagance of the times, became so common, and such gross frauds were -practised on bor- rowers, that the Legislature deemed it proper to interpose its strong arm, and place these transactions under certa...in restraints. The chief object was to disclose the name of the real len- der, and to gi\e publicity to the transaction. This measure, however, was not attended with all the salutary consequences which were ex- pected ; it was therefore lately repealed, and more simple provisions substituted for attain- ing the same end. Three lives in these cases are named, in order to save the expense of insur- ance ; for in all these cases, the lender will not advance his money unless his principal can be assured to him ; and it is taken for granted, that the annuity will be repurchased.
What to read after A Series of Letters to a Man of Property On the Sale Purchase Mortgaging Lea?
You can find similar books in the "Read Also" column, or choose other free books by Edward Burtenshaw Sugden to read onlineMoreLess
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