A GUARANTEE LETTER OF CREDIT MR. WALTER COLEMAN, Chicago, Ill. DEAR SIR: Mr. Ira F. Van Arsdale, the bearer of this letter, is an extensive dealer in boots and shoes in this city, and is now about visiting your city for the first time, with a view of purchasing goods. We have reason to know the condition of his financial ability and his promptness in meeting his liabilities. We therefore readily guarantee the payment of any indebtedness that he may contract with your house not exceeding Ten Thousand Dollars. Very respectfully, MR. WALTER COLEMAN, MEYER, SCHULTZ & Co., 175 Moline St. The Letter Sent by Mail 175 Moline St., Jackson, Miss., March 9, 1911. DEAR SIR: We have to-day given a guarantee letter of credit upon you for Ten Thousand Dollars in merchandise. The bearer of our letter of credit is Mr. Ira F. Van Arsdale, an acquaintance of ours and a prominent merchant of this city. Mr. Van Arsdale is thirty years old, six feet tall, has a dark complexion, with dark hair and eyes. We commend him to your kind consideration. Washington studied and mastered without help the intricate forms of business. He copied bills of exchange, notes, drafts, bills of sale, receipts, and all the varieties of business forms, with a precision and elegance that were remarkable.-IRVING. 1Over 6 per cent cannot be collected by law. Notes under seal. 20 years. 3 Not witnessed, six years. Not on notes or drafts on demand. Not courts of record, five years. When return not made on execution, ten years. In Illinois, as in other states, where the limitations of time applying to the collection of judgments is stated to be twenty years, the judgment ceases to be a lien or collectable in seven years, unless a scire facias is sued out, which may be done at any time within the twenty years. This revives the lien of the judgment for another seven years. LEGAL HOLIDAYS When falling on Sunday, the Monday following is observed. January 1. New Year's day: In all the States (including the District of Columbia,) except Massachusetts, Mississippi and New Hampshire. January 8. Anniversary of the Battle of New Orleans: In Louisiana. January 19. Lee's Birthday: in Florida, Georgia, North Carolina, South Carolina, Virginia, and Alabama. February 12. Lincoln's Birthday: In Connecticut, Delaware, Illinois, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Washington and Wyoming. February 22. Washington's Birthday: In all the States (including the District of Columbia,) except Mississippi, where it is observed by exercises in the public schools only. March 2. Anniversary of Texan Independence: In Texas. March 4, in the District of Columbia, when it falls on the day the President is inaugurated. April 19. Patriots' Day: In Massachusetts. April 21. Anniversary of the Battle of San Jacinto: In Texas. April 26. Confederate Memorial Day: In Alabama, Florida, Georgia, and Mississippi. May 10. Confederate Memorial Day: In North Carolina and South Carolina. May (Second Friday). Confederate Day: In Tennessee. May 20. Anniversary of the Signing of the Mecklenburg Declaration of Independence: In North Carolina. May 30. Decoration Day: In all the States (and District of Columbia,) except Florida, Georgia, Idaho, Louisiana, Texas, Mississippi, North Carolina, South Carolina. In Virginia, known as "Confederate Memorial Day." May (Last Friday.) Pioneer Day: In Montana, observed in public schools. June (First Monday,) even years, general State election in Oregon. June 3. Jefferson Davis' Birthday: In Florida, Georgia, and Alabama. In Louisiana, known as "Confederate Decoration Day." July 4. Independence Day: In all the States, and District of Columbia. July 24. Pioneers' Day: In Utah. August 16. Bennington Battle Day: In Vermont. October 12. Columbus Day: In California, Illinois, Michigan, November 1. All Saints' Day: In Louisiana. November-General Election Day: In Arizona, California, Colorado, Delaware, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, (vote for Presidential elections only,) Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, West Virginia, Washington, Wisconsin, and Wyoming, in the years when elections are held therein. November-Thanksgiving Day (usually the fourth Thursday in November:) Is observed in all the States, and in the District of Columbia, though in some States it is not a statutory holiday. December 25. Christmas Day: In all the States, and in the District of Columbia. Sundays and Fast Days are legal holidays in all the States which designate them as such. Arbor Day is a legal holiday in Arizona, Maine, Minnesota, New Mexico, Wisconsin, and Wyoming, the day being set by the Governor; in Texas, February 22; Nebraska, April 22; Utah, April 15; Rhode Island, May 11; Montana, second Tuesday in May; Florida, first Friday in February; Georgia, first Friday in December; Colorado (school holiday only), third Friday in April; in Oklahoma, the Friday following the second Monday in March. Good Friday is a legal holiday in Alabama, Delaware, Louisiana, Maryland, Pennsylvania, and Tennessee. Mardi-Gras Day (Shrove Tuesday or last day of Lent) is a legal holiday in Alabama and the parish of Orleans, Louisiana. Every Saturday after 12 o'clock noon is a legal holiday in *Illinois, New York, New Jersey, Pennsyvlania, Maryland, Tennessee, Virginia, the District of Columbia, and the city of New Orleans, and in Newcastle County, Del., except in St. George's Hundred; in Louisiana and Missouri in cities of 100,000 or more inhabitants; in Ohio in cities of 50,000 or more inhabitants; and June 1 to August 31 in Denver, Col. *In cities of 200,000 inhabitants or more. There is no national holiday, not even the Fourth of July. Congress has at various times appointed special holidays. In the second session of the Fifty-third Congress it passed an act making Labor Day a public holiday in the District of Columbia, and it has recognized the existence of certain days as holidays for commercial purposes, but, with the exception named, there is no general statute on the subject. The proclamation of the President designating a day of Thanksgiving only makes it a legal holiday in the District of Columbia and the Territories, and in those States which provide by law for it. SALES OF PERSONAL PROPERTY What Constitutes a Sale.—A sale of goods is the transfer of ownership thereof for a consideration in money, paid or to be paid. Earnest will always bind the bargain, but it must consist of the giving away of something valuable, and not a mere ceremony. Delivery of the Goods.-On a contract of sale of goods the general rule is, that the delivery is to be at the place where the vendor has the article. Delivery to an Agent, or carrier, if with the purchaser's consent, is sufficient. Payment. The law presumes that when a sale is made there is to be immediate payment unless otherwise agreed. Credit may be expressly agreed upon, or may be implied from custom and usage. How Goods are to be Shipped.-If the goods are to be sent to a distant point, they must be shipped by the route directed by the purchaser. If no direction is given, they are to be sent by the usual route. If so sent, the goods are the buyer's at the moment of shipment, and the seller is relieved of responsibility. But if the goods are to be delivered by the seller at a distant point, he is responsible that they reach there in good condition. Goods Must Agree with Terms of Sale.-Unless the goods which are delivered agree with the terms of sale, the buyer need not accept them. Even after he has used a portion of them, if he finds that they are substantially different from what they were represented to be, he can return them or notify the seller that he will not accept them, and that he holds them at the |