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ABSTRACT OF IOWA STATE LAWS.

BILLS OF EXCHANGE AND PROMISSORY NOTES.

Upon negotiable bills, and notes payable in this State, grace shall be allowed according to the law merchant. All the above mentioned paper falling due on Sunday, New Year's Day, the Fourth of July, Christmas, or any day appointed or recommended by the President of the United States or the Governor of the State, as a day of fast or thanksgiving, shall be deemed as due on the day previous. No defense can be made against a negotiable instrument (assigned before due) in the hands of the assignee without notice, except fraud was used in obtaining the same. To hold an indorser, due diligence must be used by suit against the maker or his representative. Notes payable to person named or to order, in order to absolutely transfer title, must be indorsed by the payee. Notes payable to bearer may be transferred by delivery, and when so payable, every indorser thereon is held as a guarantor of payment, unless otherwise expressed.

In computing interest or discount on negotiable instruments, a month shall be considered a calendar month or twelfth of a year, and for less than a month, a day shall be figured a thirtieth part of a month. Notes only bear interest when so expressed; but after due, they draw the legal interest, even if not stated.

INTEREST.

The legal rate of interest is six per cent. Parties may agree, in writing, on a rate not exceeding ten per cent. If a rate of interest greater than ten per cent. is contracted for, it works a forfeiture of ten per cent. to the school fund, and only the principal sum can be recovered.

DESCENT.

The personal property of the deceased (except (1) that necessary for payment of debts and expenses of administration; (2) property set apart to widow, as exempt from execution; (3) allowance by court, if necessary, of twelve months' support to widow, and to children under fifteen years of age), including life insurance, descends as does real estate.

One-third in value (absolutely) of all estates in real property, possessed by husband at any time during marriage, which have not been sold on execution or other judicial sale, and to which the wife has made no relinquishment of her right, shall be set apart as her property, in fee simple, if she survive him.

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The same share shall be set apart to the surviving husband of a deceased wife.

The widow's share cannot be affected by any will of her husband's, unless she consents, in writing thereto, within six months after notice to her of provisions of the will.

The provisions of the statutes of descent apply alike to surviving husband or surviving wife.

Subject to the above, the remaining estate of which the decedent died siezed, shall in absence of other arrangements by will, descend

First. To his or her children and their descendants in equal parts; the descendants of the deceased child or grandchild taking the share of their deceased parents in equal shares among them.

Second. Where there is no child, nor descendant of such child, and no widow or surviving husband, then to the parents of the deceased in equal parts; the surviving parent, if either be dead, taking the whole; and if there is no parent living, then to the brothers and sisters of the intestate and their descend

ants.

Third. When there is a widow or surviving husband, and no child or children, or descendants of the same, then one-half of the estate shall descend to such widow or surviving husband, absolutely; and the other half of the estate shall descend as in other cases where there is no widow or surviving husband, or child or children, or descendants of the same.

Fourth. If there is no child, parent, brother or sister, or descendants of either of them, then to wife of intestate, or to her heirs, if dead, according to like rules.

Fifth. If any intestate leaves no child, parent, brother or sister, or descendants of either of them, and no widow or surviving husband, and no child, parent, brother or sister (or descendant of either of them) of such widow or surviving husband, it shall escheat to the State.

WILLS AND ESTATES OF DECEASED PERSONS.

No exact form of words are necessary in order to make a will good at law. Every male person of the age of twenty-one years, and every female of the age of eighteen years, of sound mind and memory, can make a valid will; it must be in writing, signed by the testator, or by some one in his or her presence, and by his or her express direction, and attested by two or more competent witnesses. Care should be taken that the witnesses are not interested in the will. Inventory to be made by executor or administrator within fifteen days from date of letters testamentary or of administration. Executors' and administrators' compensation on amount of personal estate distributed, and for proceeds of sale of real estate, five per cent. for first one thousand dollars, two and one-half per cent. on overplus up to five thousand dollars, and one per cent. on overplus above five thousand dollars, with such additional allowance as shall be reasonable for extra services.

Within ten days after the receipt of letters of administration, the executor or administrator shall give such notice of appointment as the court or clerk shall direct.

Claims (other than preferred) must be filed within one year thereafter, are forever barred, unless the claim is pending in the District or Supreme Court, or unless peculiar circumstances entitle the claimant to equitable relief.

Claims are classed and payable in the following order: 1. Expenses of administration.

2. Expenses of last sickness and funeral.

3. Allowance to widow and children, if made by the court. 4. Debts preferred under laws of the United States.

5. Public rates and taxes.

6. Claims filed within six months after the first publication of the notice given by the executors of their appointment.

7. All other debts.

8. Legacies.

The award, or property which must be set apart to the widow, in her own right, by the executor, includes all personal property which, in the hands of the deceased, as head of a family, would have been exempt from execution.

TAXES.

The owners of personal property, on the first day of January of each year, and the owners of real property on the first day of November of each year, are liable for the taxes thereon.

The following property is exempt from taxation, viz.:

1. The property of the United States and of this State, including university, agricultural, college and school lands and all property leased to the State; property of a county, township, city, incorporated town or school district when devoted entirely to the public use and not held for pecuniary profit; public grounds, including all places for the burial of the dead; fire engines and all implements for extinguishing fires, with the grounds used exclusively for their buildings and for the meetings of the fire companies; all public libraries, grounds and buildings of literary, scientific, benevolent, agricultural and religious institutions, and societies devoted solely to the appropriate objects of these institutions, not exceeding 640 acres in extent, and not leased or otherwise used with a view of pecuniary profit; and all property leased to agricultural, charitable institutions and benevolent societies, and so devoted during the term of such lease; provided, that all deeds, by which such property is held, shall be duly filed for record before the property therein described shall be omitted from the

assessment.

2. The books, papers and apparatus belonging to the above institutions; used solely for the purposes above contemplated, and the like property of students in any such institution, used for their education.

3. Money and credits belonging exclusively to such institutions and devoted solely to sustaining them, but not exceeding in amount or income the sum prescribed by their charter.

4. Animals not hereafter specified, the wool shorn from sheep, belonging to the person giving the list, his farm produce harvested within one year previous to the listing; private libraries not exceeding three hundred dollars in value; family pictures, kitchen furniture, beds and bedding requisite for each family, all wearing apparel in actual use, and all food provided for the family; but no person from whom a compensation for board or lodging is received or expected, is to be considered a member of the family within the intent of this clause.

5. The polls or estates or both of persons who, by reason of age or infirmity, may, in the opinion of the Assessor, be unable to contribute to the public.

revenue; such opinion and the fact upon which it is based being in all cases reported to the Board of Equalization by the Assessor or any other person, and subject to reversal by them.

6. The farming utensils of any person who makes his livelihood by farming, and the tools of any mechanic, not in either case to exceed three hundred dollars in value.

7. Government lands entered or located or lands purchased from this State, should not be taxed for the year in which the entry, location or purchase is made.

There is also a suitable exemption, in amount, for planting fruit trees or forest trees or hedges.

Where buildings are destroyed by fire, tornado or other unavoidable casualty, after being assessed for the year, the Board of Supervisors may rebate taxes for that year on the property destroyed, if same has not been sold for taxes, and if said taxes have not been delinquent for thirty days at the time of destruction of the property, and the rebate shall be allowed for such loss only as is not covered by insurance.

All other property is subject to taxation. Every inhabitant of full age and sound mind shall assist the Assessor in listing all taxable property of which he is the owner, or which he controls or manages, either as agent, guardian, father, husband, trustee, executor, accounting officer, partner, mortgagor or lessor, mortgagee or lessee.

Road beds of railway corporations shall not be assessed to owners of adjacent property, but shall be considered the property of the companies for purposes of taxation; nor shall real estate used as a public highway be assessed and taxed as part of adjacent lands whence the same was taken for such public purpose.

The property of railway, telegraph and express companies shall be listed and assessed for taxation as the property of an individual would be listed and assessed for taxation. Collection of taxes made as in the case of an individual.

The Township Board of Equalization shall meet first Monday in April of each year. Appeal lies to the Circuit Court.

The County Board of Eqalization (the Board of Supervisors) meet at their regular session in June of each year. Appeal lies to the Circuit Court.

Taxes become delinquent February 1st of each year, payable, without interest or penalty, at any time before March 1st of each year.

Tax sale is held on first Monday in October of each year.

Redemption may be made at any time within three years after date of sale, by paying to the County Auditor the amount of sale, and twenty per centum of such amount immediately added as penalty, with ten per cent. interest per annum on the whole amount thus made from the day of sale, and also all subsequent taxes, interest and costs paid by purchaser after March 1st of each year, and a similar penalty of twenty per centum added as before, with ten per cent. interest as before.

If notice has been given, by purchaser, of the date at which the redemption is limited, the cost of same is added to the redemption money. Ninety days' notice is required, by the statute, to be published by the purchaser or holder of certificate, to terminate the right of redemption.

JURISDICTION OF COURTS

DISTRICT COURTS

have jurisdiction, general and original, both civil and criminal, except in such cases where Circuit Courts have exclusive jurisdiction. District Courts have exclusive supervision over courts of Justices of the Peace and Magistrates, in criminal matters, on appeal and writs of error.

CIRCUIT COURTS

have jurisdiction, general and original, with the District Courts, in all civil actions and special proceedings, and exclusive jurisdiction in all appeals and writs of error from inferior courts, in civil matters. And exclusive jurisdiction in matters of estates and general probate business.

JUSTICES OF THE PEACE

have jurisdiction in civil matters where $100 or less is involved. By consent of parties, the jurisdiction may be extended to an amount not exceeding $300. They have jurisdiction to try and determine all public offense less than felony, committed within their respective counties, in which the fine, by law, does not exceed $100 or the imprisonment thirty days.

LIMITATION OF ACTIONS.

Action for injuries to the person or reputation; for a stutute penalty; and to enforce a mechanics' lien, must be brought in two (2) years.

Those against a public officer within three (3) years.

Those founded on unwritten contracts; for injuries to property; for relief on the ground of fraud; and all other actions not otherwise provided for, within five (5) years.

Those founded on written contracts; on judgments of any court (except those provided for in next section), and for the recovery of real property, within ten (10) years.

Those founded on judgment of any court of record in the United States, within twenty (20) years.

All above limits, except those for penalties and forfeitures, are extended in favor of minors and insane persons, until one year after the disability is removed -time during which defendant is a non-resident of the State shall not be included in computing any of the above periods.

Actions for the recovery of real property, sold for non-payment of taxes, must be brought within five years after the Treasurer's Deed is executed and recorded, except where a minor or convict or insane person is the owner, and they shall be allowed five years after disability is removed, in which to bring action.

JURORS.

All qualified electors of the State, of good moral character, sound judgment, and in full possession of the senses of hearing and seeing, are competent jurors in their respective counties.

United States officers, practicing attorneys, physicians and clergymen, acting professors or teachers in institutions of learning, and persons disabled by

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