CHAPTER XVI.

INTEREST.

When there is no express agreement fixing a different rate of interest, interest shall be allowed at the rate of ten per cent. per annum, on all moneys after they become due on any bond, bill, promissory note, or other instrument of writing, or any judgment recovered before any Court in this Territory for money lent, for money due on the settlement of accounts from the day on which the balance is ascertained, and for money received for the use of another.

Parties may agree, in writing, for the payment of any rate of interest whatever on money due or to become due on any contract; any judgment rendered on such contract shall conform thereto, and shall bear the interest agreed upon by the parties, and which shall be specified in the judgment.

• Parties may agree, in writing, to compound interest.

CHAPTER XVII.

BILLS OF EXCHANGE.

Three days' grace allowed on notes and bills, except sight drafts.

The rate of damages to be allowed and paid upon the usual protest for the non-payment of bills of exchange, drawn or negotiated within this Territory, shall be as follows:

in

1. If such bill shall have been drawn upon any person or persons any of the United States or Territories east of the Rocky Mountains, fifteen dollars upon the hundred upon the principal sum specified in such bill.

2. If such bill shall have been drawn on any person or persons in any port or place in Europe or any foreign country, twenty dollars upon the hundred upon the principal sum specified in such bill.

Such damages shall be in lieu of interest, charges of protest, and all other charges incurred previous to and at the time of giving notice of non-payment; but the holder of such bill shall be entitled to demand and recover lawful interest upon the aggregate amount of the principal sum specified in such bill and of the damages thereon, from the time notice of protest for non-payment shall have been given, and payment of such principal sum shall have been demanded.

All notes in writing made and signed by any person whereby he shall promise to pay to any other person, or to his own order, or to the order of any other person, or unto the bearer any sum of money therein expressed, shall be due and payable as therein expressed, and shall have the same effect and be negotiable in like manner as inland bills of exchange, according to the customs of merchants.

No person in this Territory shall be charged as an acceptor on a bill of exchange unless his acceptance shall be in writing signed by himself or his lawful agent.

Every holder of a bill presenting the same for acceptance, may require that the acceptance be written on the bill; a refusal to comply with such request shall be deemed a refusal to accept, and the bill may be protested for non-acceptance.

CHAPTER XVIII.

INSOLVENCY.

There is no insolvency law in this Territory.

PART X.

UTAH TERRITORY.

PREPARED EXPRESSLY FOR THIS WORK BY MARSHALL & ROYLE, SALT LAKE CITY.

CHAPTER I.

THE COURTS AND THEIR JURISDICTION.

The Supreme Court of the Territory has general appellate jurisdiction only.

There are three United States District Courts in the Territory, with unlimited jurisdiction in all chancery and law actions.

THE PROBATE COURTS,

One in each county: Their jurisdiction is limited to strictly probate business, except that they may try divorce cases where both parties agree upon that forum; removable, however, at the pleasure of either party, to the District Court. The Judges have the right to enter town sites, and preside over the Board of Selectmen; in other words, the County Court.

JUSTICES' COURTS

Have jurisdiction in all actions where the amount involved is less than three hundred dollars, except in cases involving titles to real estate.