Page:The Fraternity and the College (1915).pdf/93

 These notes are usually for ten dollars each and are ten in number, payable one each year for ten years following the student's entrance into the university or following his graduation. Sometimes only five of such notes are given. The keeping up of the payments on the house is usually absolutely dependent upon the fidelity with which the individuals keep their obligations, and failure on their part to that extent embarrasses the officers who have the responsibility for looking after the finances of the organization.

The form of the notes which I hold is legal, I suppose, but, though I have never tried to do so, it is rather unlikely that they could be collected by process of law, and so they must be considered more as debts of honor than as legal obligations. The form which has been used I give below.

Champaign, Ill., June 24, 1914.

Two years after date, for value received, I promise to pay to the order of, Trustee of Chapter House Fund of Beta. Theta, the sum of Ten Dollars ($10), with interest at 6 per cent after maturity.

The proceeds of this note are to be applied to the purchase of a Chapter House, and will be used for no other purpose. City...................................., State....................................
 * Street....................................,