from time to time renew it after it has been satisfied, is called a continuing guaranty.

A continuing guaranty may be revoked at any time by the guarantor, in respect to future transactions, unless there is a continuing consideration as to such transaction which he does not renounce.

Civil Code, Sections 2814, 2815.

Section

1320.-EXONERATION

OF GUARANTORS. A guarantor is exonerated, except so far as he may be indemnified by the principal, if by any act of the creditor, without the consent of the guarantor, the original obligation of the principal is altered in any respect, or the remedies or rights of the creditor against the principal, in respect thereto, in any way impaired or suspended. A promise by a creditor, which for any cause is void, or voidable by him at his option, does not alter the obligation or suspend or impair the remedy.

The acceptance, by a creditor, of anything in partial satisfaction of an obligation, reduces the obligation of a guarantor thereof, is in the same measure as that of the principal, but does not otherwise affect it.

Mere delay on the part of a creditor to proceed against the principal, or to enforce any other remedy, does not exonerate a guarantor.

A guarantor, who has been indemnified by the principal, is liable to the creditor to the extent of the indemnity, notwithstanding that the creditor, without the assent of the guarantor, may have modified the contract or released the principal.

Civil Code, Sections 2819, 2820, 2822, 2823, 2824.

Section 1321.-DEATH OF GUARANTOR.-A guaranty for future advances terminates, when the guarantor dies, and the guarantee has notice of his death. (Decided by the Supreme Court of California, in the case of Valentine vs. Donohoe-Kelly Banking Co., which decision is printed in volume 65 of the Pacific Reporter, page 381.)

Section 1322.-JUDGMENT AGAINST PRINCIPAL.-Where a creditor has recovered a judgment against the principal debtor, which remains unsatisfied, a guarantor against whom judgment is recovered on his guaranty is, on payment thereof, entitled to an assignment of the judgment against the principal. (Decided by the Supreme Court of California, in the case of Clark vs. Chapman, which decision is printed in volume 32 of the Pacific Reporter, page 812.)

Section 1323.-GUARANTY MUST BE CERTAIN. -The writing creating a guaranty must be certain and explicit, so that the intention to guaranty the payment can be plainly seen. For instance, if one person should receive a letter from another, making inquiry regarding the financial standing of a third person, and should answer, "You may rest assured that you will get your pay for all work done," this would not be a guaranty, because it would not contain any promise to stand good for the debts of that person. The letter would be merely an expression of opinion. To constitute a guaranty, there would have to appear in it some promise to answer for the debt or default of another. (Decided by the Supreme Court of California, in the case of Switgger vs. Baker, which decision is printed in volume 30 of the Pacific Reporter, page 761.)

Section 1324.-FORM OF GUARANTY OF ACCOUNT. The following is a form of guaranty of account:

To Jones & Smith,

San Francisco, Cal.,

.191....

402 Market Street,

San Francisco, Cal

Gentlemen: I hereby guaranty to you the account of Henry Green, for goods purchased by him, or for work and labor performed for him, during the term of six months from date hereof and up to the amount of.. . dollars.

Section

Powers of Attorney.

1325.-POWER OF ATTORNEY MUST BE IN WRITING.-A power of attorney must be in writing, and subscribed by the grantor, or his agent. If subscribed by an agent of the grantor, the agent's authority to sign must be in writing. If it is intended to be recorded, it must be acknowledged.

Code of Civil Procedure, Section 1971.

Section 1326.-MARRIED WOMAN'S POWER OF ATTORNEY.-A married woman may make, execute, and revoke powers of attorney for the sale, conveyance, or encumbrance of her real or personal estate, which shall have the same effect as if she were unmarried, and may be acknowledged in the same manner as a grant of real property. Civil Code, Section 1094.

Section 1327.—SIGNATURE OF ATTORNEY IN FACT. When an attorney in fact executes an instrument transferring an estate in real property, he must subscribe the name of his principal to it, and his own name as attorney in fact.

Civil Code, Section 1095.

Section 1328.-REVOCATION OF POWER OF ATTORNEY.-No instrument containing a power to convey or execute instruments affecting real property, which has been recorded, is revoked by any act of the party by whom it was executed, unless the instrument containing such revocation is also acknowledged or proved, certified and recorded, in the same office in which the instrument containing the power was recorded.

Civil Code, Section 1216.

Section 1329.-REVOCATION OF POWER OF AN AGENT.-Unless the power of an agent is coupled with an interest in the subject of the agency, it is terminated, as to every person having notice thereof, by:

1. Its revocation by the principal;

2. His death; or,

3. His incapacity to contract.

Civil Code, Section 2356.

Section 1330.-POWER OF ATTORNEY COUPLED WITH AN INTEREST.-Where the power of attorney covers property in which the grantee has an interest, the power is not revoked by the death of the principal.

Section 1331.-FORM OF GENERAL POWER OF ATTORNEY.-The following is a form of general power of attorney:

Know all Men by these Presents:

of the city and county of San Francisco, state of California, have made, constituted and appointed, and by these presents do make, constitute, and appoint.

of

said city and county, our true and lawful attorney for us and in our names, place, and stead, and for our use and benefit, to ask, demand, sue for, recover, collect and receive all such sums of money, debts, dues, accounts, legacies, bequests, interests, dividends, annuities and demands whatsoever as are now or shall hereafter become due, owing, payable or belonging to us, and have, use and take all lawful ways and means in our names or otherwise for the recovery thereof, by attachments, arrests, distress or otherwise, and to compromise and agree for the same, and acquittances or other sufficient discharges for the same, for us, and in our names, to make, seal, and deliver; to bargain, contract, agree for, purchase, receive, and take lands, tenements, hereditaments, and accept the seisin and possession of all lands, and all deeds and other assurances, in the law therefor, and to lease, let, demise, bargain, sell, remise, release, convey, mortgage and hypothecate lands, tenements and hereditaments, upon such terms and conditions, and under such covenants, as he shall think fit. Also, to bargain and agree for, buy, sell, mortgage, hypothecate and in any and every way and manner deal in and with goods, wares, and merchandise, chose in action and other property in possession or in action, and to make, do, and transact all and every kind of business of what nature or kind soever, and also for us and in our

names, and as our act and deed, to sign, seal, execute, deliver and acknowledge such deeds, leases and assignment of leases, convenants, indentures, agreements, mortgages, hypothecations, bottomries, charter-parties, bills of lading, bills, bonds, notes, receipts, evidences of debts, releases and satisfaction of mortgage, judgments and other debts, and such other instruments in writing of whatever kind and nature as may be necessary or proper in the premises.

Giving and granting unto our said attorney full power and authority to do and perform all and every act and thing whatsoever requisite and necessary to be done in and about the premises, as fully to all intents and purposes as we might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that our said attorney, or his substitute or substitutes, shall lawfully do or cause to be done by virtue of these presents. In witness whereof we have hereunto set our hands and seals the........day of. 191..

(Acknowledgment in usual form.)

(Seal) (Seal)

Section 1332.-SPECIAL POWER OF ATTORNEY. -The following is a form of special power of attorney:

Know all Men by these Presents: That I, ...., of the county of Alameda, state of California, have made, constituted, and appointed, and by these presents do make, constitute, and appoint of.

my true and lawful attorney for me and in my name, place, and stead, and for my use, to ask, demand, sue for, collect, and receive all such sums of money which are or shall be due, owing, payable, and belonging to me, or detained from me, in any manner whatsoever, by any person or persons what

soever.

Giving and granting unto my said attorney full power and authority in and about the premises; and to use all due means, course and process in the law for the full, effectual, and complete execution thereof, and in my name to make, execute and deliver all and every instrument in writing under seal, or otherwise, and for the premises to appear and my person to represent before any governor, judge, officer, and minister of the law whatsoever, and in any court or courts of judicature, and on my behalf, to prosecute