Omission

to recite power.

Fraud.

Power to

devise, how

terms of

will.

by the power; but every estate or interest so created, so far as embraced by the terms of the power, is valid.

§ 290. Every instrument executed by the grantee of a power, conveying an estate or creating a charge which such grantee would have no right to convey or create except by virtue of his power, is to be deemed a valid execution of the power, although such power be not recited or referred to therein.

291. Instruments in execution of a power are affected by fraud in the same manner as conveyances by owners or

trustees.

§ 292. Real property embraced in a power to devise executed by passes by a will purporting to convey all the real property of the testator, unless the intent that the will should not operate as an execution of the power appears expressly or by necessary implication.

Computation of term

sions.

§ 293. The period during which the absolute right of of suspen- alienation may be suspended by an instrument in execution. of a power, must be computed, not from the date of the instrument, but from the time of the creation of the power.

Who may

take under powers.

Married women,

rity.

$294. No estate or interest can be given or limited to any person, by an instrument in execution of a power, which such person would not have been capable of taking under the instrument by which the power was granted.

§ 295. When a married woman, entitled to an estate in their autho- fee, is authorized by a power to dispose of such estate during her marriage, she may by virtue of such power create any estate which she might create if unmarried.

Defective execution.

Id.

§ 296. Where the execution of a power in trust is defective, in whole or in part, under the provisions of this title, its proper execution may be adjudged in favor of the persons designated as the objects of the trust.

§ 297. Purchasers for a valuable consideration, claiming under a defective execution of a power, are entitled to the same relief as similar purchasers claiming under a defective conveyance from an actual owner.

sell in

§ 208. Where a power to sell real property is given to Powers to the grantee in any mortgage or other conveyance intended mortgages. to secure the payment of money, the power is to be deemed a part of the security, and vests in and may be executed by any person, who by assignment or otherwise, becomes entitled to the money so secured to be paid.

of this

299. The provisions of this title do not extend to a Application simple power of attorney to convey real property in the title. name of and for the benefit of the owner.

§ 300. The term "grantor of a power" as used in this title designates the person by whom a power is created, whether by grant or devise; and the term "grantee of a power" designates the person in whom a power is vested, whether by grant, devise or reservation.

PART III.

PROPERTY IN THINGS PERSONAL, OR MOVABLE.

TITLE I. Personal Property in General.

II. Particular Kinds of Personal Property.

TITLE I.

PERSONAL PROPERTY IN GENERAL.

SECTION 301. What is personal property.

302 Distinction of things personal.

303. Qualifications of property.

304. Future interests in perishable property, how protected.

305. By what law governed.

306. Suspension of alienation and accumulations.

307. Trusts.

308. Powers.

301. Every kind of property which is not real is per- What is sonal.

personal property.

§ 302. Things personal are either: 1. Things in posses- Distinction sion, or 2. Things in action.

of things personal.

tions of

303. Property in things personal may be absolute or qualificaqualified. The qualification may exist in respect to the property. number of those who are to enjoy it, or in respect to the time and manner of enjoyment, or in any other respect consistent with the rules prescribed in the next title.

interests in

perishable how pro

property,

§ 304. Where one has the present and another the Future future interest in a thing personal, and the thing is perishable or consumed in the using, the latter may require the thing to be sold and the proceeds invested for the benefit of both parties, according to their respective interests.

tected.

By what

law gov erned.

Suspension of alienation, and accumulations.

Trusts.

Powers.

305. If there is no law to the contrary in the place where personal property is situated, it is deemed to follow the person of its owner and is governed by the law of his domicil.

§ 306. The provisions of title II, of part II, of this division of the Civil Code, which relate to the suspension of the absolute power of alienation, and to accumulations of income, in respect to real property, apply also to personal property, so far as they are applicable.

1 R. S., 773; Mason a. Jones, 2 Barb., 229.

307. The provisions of title IV of part II of this division of the Civil Code, which authorize certain literary and municipal corporations and officers to hold in trust, and which relate to the determination of the trustee's estate when the purpose of a trust ceases, apply also to personal property; and the provisions of the same title, which relate to the inalienability of trusts, apply also to personal property so far as they are applicable.

The provision of this section, which relates to the inalienability of trusts, is new.

§ 308. The provisions of title V of part II of this division of the Civil Code, entitled Powers, apply to powers in respect to personal property so far as the same are applicable thereto, excepting powers of attorney, of agency and of substitution.

This provision is new.