thority to receive the property or discharge the debt. But if it be for a part only of the fund or debt, it is a draft or bill of exchange, which does not bind the drawee, or transfer any proprietary or equitable interest in the fund, until accepted by the drawee. It therefore creates no lien upon the fund. Upon this point the uthorities seem decisive: Welch v. Mandeville, 1 Wheat. 233; Mandeville v. Welch, 5 Id. 277; Robbins v. Bacon 3 Greenl. 346; Gibson v. Cooke, 20 Pick. 15 [32 Am. Dec. 194]. It seems to us quite clear, that the plaintiff acquired no such interest in this policy, as would enable him to maintain an action against the insurers. He seems himself to have thought so too; for although he demanded the amount of them, which they refused to pay, for reasons which seem to be conclusive, he yet declined bringing any suit against them, but permitted them to pay the money over to the administrator. If the plaintiff had no such legal or equitable interest in the debt due on the policy, as would enable him to maintain an action or suit in equity, either in his own name or in the name of the administrator of the assignor, for his own benefit, it seems difficult to perceive on what ground he had any equitable lien on the debt due by the policy; and if he had not, then the administrator took it as general assets, charged with no trust for the plaintiff.

It appears to us that a contrary doctrine would tend to a great confusion of rights. A man can not, by his own act, charge a personal chattel, a carriage and horses for instance, with a lien in favor of a particular creditor, and yet retain the dominion and possession of them till his death; a fortiori where he retains the memorandum or instrument of transfer of such chattel in his own possession, and under his own control. It seems to us equally impracticable to charge a debt due to him, by an order or memorandum retained in his own possession, purporting to give to a particular creditor an equitable lien, by the assignment of such chose in action, without a transfer or delivery of the security by which it is manifested. Such an assignment would not constitute the debtor himself a trustee to the creditors; what trust then devolves on the administrator? Were the law otherwise, an administrator, instead of succeeding to the property and rights of his intestate, to be administered and distributed equally amongst all the creditors, might be obliged to dispose of it in very unequal proportions, according to such supposed declaration of trust. These considerations apply with peculiar force to a policy of insurance on the life of the assured himself, on which no money can become due

AM. DEC. VOL. LII-50

until the death of the assured, at which time all his rights devolve on his personal representative. If, therefore, it is intended to supersede the right of the personal representative, it must be done in the mode required for a complete assignment of the whole contract.

The defendant having waived his objection that this action was brought too soon, for the purpose of trying the plaintiff's right, we see no objection to entering a judgment for the amount of the debt actually due from the intestate, to be certified to the judge of probate, to be added to the commissioner's report of debts allowed, so as to enable the plaintiff to take a dividend pro rata with other creditors, but not to have execution de bonis testatoris.

POLICY OF INSURANCE IS A CHOSE IN ACTION, and is governed by the same principles as other agreements involving pecuniary obligations: Foster v. Gile, 50 Wis. 610. It is assignable in the same way and to the same extent as other choses: Anthracite Ins. Co. v. Sears, 109 Mass. 383, both citing the principal case. See, as to the assignment of policies and the rights of assignees, Earl v. Shaw, 1 Am. Dec. 117; Wiggin v. Suffolk Ins. Co., 29 Id. 576. An unadjusted loss on a policy of insurance may be attached: Knox v. Protection Ins. Co., 25 Id. 33. So an insurance policy may be the subject of a pledge: Wells v. Archer, 13 Id. 682; Lucketts v. Townsend, 49 Id. 733, note. That such a policy delivered as security for a note is a good pledge, and gives the pledgee an equitable lien upon the proceeds, is a point to which Palmer v. Merrill is cited in Merrill v. New England Ins. Co., 103 Mass. 250.

ASSIGNMENT OF PART OF CHOSE IN ACTION: See Gibson v. Cooke, 32 Am. Dec. 198, and note.

INDEX TO THE NOTES.

ACKNOWLEDGMENT of deeds, amending by parol evidence, 520.
of deeds, by married woman, amending, 520.

of deeds, correcting certificate of, to conform to facts, 520.
of deeds, courts, power of, to amend, 522.

of deeds, essential to deed of married woman, 519.

of deeds, essential to entitle to record, 519.

of deeds, officer's correction of his certificate, 520.

of deeds, statutes authorizing correction of certificate, 523.

when not essential to deeds, 519.

ATTORNEY AT LAW, mandamus to reinstate, 302.

proceedings to disbar, 302.

ATTORNEY IN FACT, how should sign deed, 775.

whether may sign the name of his principal without adding his own na
attorney in fact, 775-777.

BANK BILLS, action on, before demand, 453.

are not bills of credit, 454.

are not money, 448.

current, defined, 454.

counterfeit, payment in, 451.

date of, 455.

defined, 447.

describing in an indictment, 447.

destruction of, 450.

distinction between, and promissory note, 448.

finder of, and his rights, 454.

for what purposes treated as money, 448.

holder of, and his rights, 449.

insolvency of issuing bank, what is, 451.
loss of, 450.

loss of part of, 450.

negotiability of notes payable in, 454.

officer can not receive as money, 449.

origin of, 447.

payable at a future day, 448.

payment may be made in, to bank which issued, 450.

possession of, is prima facie evidence of title, 449.

BANK BILLS, right to issue, 448.

seizing in execution, 452.

set-off of, 450.

tender in, when good, 452.

to whom payable, 448.

warranty of title or value, 452.

BANKRUPTCY, discharge in, when no defense to action for breach of warranty,
641.

discharge in, when no defense to suit by surety, 641.

new promise to pay debt discharged by, 782.

BILL OF EXCHANGE, possession of, is evidence of authority to demand pay-
ment, 585.

CARRIER, delivery of goods to, 349.

CHECKS are governed by the rules applicable to bills of exchange, 594.
presentment of, to charge indorser, 594.

CONSTITUTIONAL LAW, vested rights, legislative control over, 703.
CONTEMPT, judgment of, how reviewable, 303.

CONVEYANCE by married woman, acknowledgment is essential, 493.
correcting and amending acknowledgments of, 520-523.
CORPORATION, compelling directors to call in unpaid stock, 427.
debts of, not extinguished by forfeiture of charter, 427.
existence of, is admitted by the general issue, 247.
foreign, application of statute of limitations to, 256–258.
are treated as non-residents, 256.

statute of limitations, plea of, 257.

COURTS OF ORDINARY, presumptions in favor of, 407.

whether general or special, 407.

CRIMINAL LAW, reasonable doubt, 738.

DAMAGES, measure of, in action by holder of chattel mortgage, 678.

measure of, in action by lessee, 678.

measure of, in action by pawnee or pledgee, 678.

measure of, when owner of special interest recovers, 678-680.
DECLARATION of agent, when evidence against principal, 232, 312.
of testator, as evidence to impeach his will, 167-169.

DEDICATION is a question of intention merely, 479.

of land may be by parol, 479.

DEED, construction of, should be against grantor, 486.

construction of, should give effect to every part, 486.

signing of grantor's name by third person, 742.

when so ancient that execution of, need not be proved, 399.
DEFINITION of bank notes, 447.

of current bank notes, 454.

of date, 592.

of holographic will, 591.

of post-notes, 448.

ELECTION, ineligible candidate receiving the highest vote, 151.

of person after his death, 152.

ESTOPPEL of vendee in possession to deny vendor's title, 294.

EVIDENCE, causes of action admissible under count for money had and re-

ceived, 751-760.

circumstantial, when sufficient, 737.

of good character of person accused of murder, 738.

opinion of expert that paper was or was not all written at one time, 736.

return of officer, when conclusive and exclusive, 645.

EXECUTION SALE of more land than necessary, 645.

vendee may show that the property was not subject to sale, 294.

FILING of paper, what is a, 499.

FIXTURES, what are, 617.

FRAUDULENT CONVEYANCES, creditor, claims of, are in force from date of com

tract, 116.

creditor claiming under a bond, 116.

creditor claiming under covenant of warranty, 117.

creditor holding as assignee in bankruptcy, 118.

creditor holding claim arising out of prior claim, 118.

creditor holding claim arising subsequent to the conveyance, 119.

creditor holding claim as surety, 117.

creditor holding claim against surety, 117.

creditor holding contingent claim, 117.

creditor holding claim for damages, 115.

creditor holding claim for breach of promise of marriage, 115.

creditor whose claim is founded on illegal consideration, 113.

creditor whose debt is barred by limitation, 114.

creditor whose claim arose out of torts, 114.

creditor who trusts grantor after knowing of, 114.
creditor, wife claiming under marriage contract, 115.

of exempt property, 114.

who may attack and avoid, 113-119.

HOUSE, import of this term in indictment for arson, 338.

INDICTMENT, description of mode of committing offense, 738.
for having counterfeit money in possession, 500.
joinder of several offenses in, 499.

INDORSEMENT, each successive, is an original contract, 585.

INNKEEPERS, liability of, 312.

INSURANCE, assignment of policy, 786.

attachment of money due for loss, 786.

for whom it may concern, 605.

pledge of policy, 786.

JUDGMENT, actions and defenses in conflict with, 637.

action on, when may be maintained, 234.

against a deceased person, whether void or voidable, 109.

certificate of judge to, when sufficient, 399.

conclusiveness of, 636.

entry of, nunc pro tunc, because of death of party, 108.

entry of, relates to first day of term, 108.

lien of, loss by sale under junior judgment, 442.

suits for money paid as usurious interest, 639.