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The Green Bag

attention of the American Bar Asso ciation, it was resolved to recommend

the passage of similar resolutions in all of the states and by the Congress of the United States, the District of Columbia and the territories, with the

additional subjects for consideration of descent and distribution of property and acknowledgment of deeds. Thus the Conference originated with a compara

ceipts Act (1906), the Stock Transfer Act (1909) and the Bill of Lading Act lished (1909).with These annotations acts haveinall a been pamphlet. pub of which an edition of 12,000 copies has been almost exhausted. As has been well said, this volume should be in the hands of every American lawyer.

Separate works on the Negotiable ln struments Act, which is now substan

tively small number of states being represented, but now all of the states, territories, the District of Columbia and the insular possessions are repre

tially the law in forty states, territories

sented, with the exception of Nevada and Alaska. The Conference proceeded with its work and at the end of its sixth year had drafted and approved uniform acts relating to the sealing of deeds and

are explained section by section by the

other written instruments; relating to

duce any novel principles. Occasionally

the execution of wills and probate of foreign wills; relating to days of grace and presentment of bills and notes; to establish a uniform standard of weights and measures. Some of these acts have not been pressed for adoption, and some, especially that relating to the probate of foreign wills and the acknowledgment of deeds and sealing of instruments, are under consideration for amendment. In addition to these

this rule has been departed from, yield ing to what was believed to be the con sensus of opinion in the business world, with the object of giving full negotia bility to all documents of title excepting

acts resolutions were adopted in rela

the Conference has been compelled neces

tion to marriage and divorce which have been substantially embodied in the Marriage and Marriage License Act,

sarily to embody the principles sup ported by the weight of authority. The English statutes on commercial subjects have afforded invaluable aid to the experts of the Conferences, and in the majority of cases it will be found that the English and American acts embody substantially the same princi ples, following the leading authorities in

and in the Uniform Divorce Act, adopted

by the National Divorce Congress, and subsequently approved by the Confer ence. The best known and most elaborate acts, which alone would have justiﬁed the existence of the Conference and proved the value of its work, are the Commercial Acts, viz., the Uniform Negotiable Instruments Act (1896), the

Sales Act (1906), the Warehouse Re

and possessions of the Union, made sary, specialbut annotation the other of that commercial act unnecw acts

experts who drew the tentative drafts. The plan upon which the Conference has worked has been rather to embody

the existing law in the form of a statute upon the subjects treated than to intro

Warehouse Receipts and deﬁning value.‘

This action of the Conference has been subjected to criticism, but the acts have been accepted in their entirety by an overwhelming proportion of the states adopting them. Where authorities differ,

1 Value is any consideration suﬁicient to support a simple contract. An antecedent or pre-existing obligation, whether for money or not. constitute value factionwhere thereof a certiﬁcate or as security is taken therefor. either in satis.