780 THE HOME, FARM AND BUSINESS CYCLOPEDIA. 



Corporations have powers to make contracts strictly within the limits 

 prescribed by their charters, or by special or general statute. The following- 

 classes of contracts are void, unless they shall be in writing and subscribed 

 by the party to be charged thereby : 



1. Every agreement that by its terms is not to be performed within one 

 year from the making thereof. 



2. Every special promise to answer for the debts, default, or miscarriage 

 of another person. 



3. Every agreement, promise or undertaking, made upon consideration 

 of marriage, except mutual promise to marry. 



4. Every contract for the leasing of a longer period than one year, or 

 for the sale of any lands, or any interest in lands, shall be void, unless the 

 contract, or some note or memorandum thereof, expressing the consider- 

 ation, be in writing and subscribed by the party by whom the lease or sale 

 is made. 



INTEREST AND USUEY. 



Interest is a moderate profit for the use of money. In the Dominion the 

 rate of interest is established by statute. Six per cent, is the legal rate of 

 interest. An excess of interest above the legal rate may be recovered by 

 an action at law. 



LIEN LAWS. 



Any one who, as contractor, sub -con tractor, or labourer, performs any 

 work, or furnishes any materials, in pursuance of, or in conformity with, 

 any agreement or contract with the owner, lessee, agent, or one in posses- 

 sion of the property, toward the erection, altering, improving, or repairing 

 of any building, shall have a lien for the value of such labour or materials 

 on the building or land on which it stands, to the extent of the right, title 

 and interest of the owner, lessee or person in possession at the time of the 

 claimant's filing his notice with the Registrar of Deeds of the County 

 where the property is situated. 



This notice should be filed within thirty days after completion of the 

 work, or the furnishing of the materials, and should state the residence of 

 the claimant, the amount claimed, from whom due, when due, and to 

 whom due, the name of the person against whom claimed, the name of the 

 owner, lessee or person in possession of the premises, with a brief descrip- 

 tion of the latter. 



Liens cease in ninety days after the filing of the notice, unless an action 

 is begun, or the lien is continued by an order of Court. 



The following classes of persons are generally entitled to lien: 



