LAWS AFFECTING LAND AND LABOR 



contracts are sufficient for personal 

 property if accompanied by payment of a 

 part of the purchase price or the acceptance 

 of the goods. For amounts under $50 ver- 

 bal agreement in itself is binding. 



TRANSFER OF REAL ESTATE 



The purchaser should require of the 

 seller evidence that the title to the land is 

 straight and clear; if not, exactly what the 

 defects are. This is done through an 

 abstract of title, which should be prepared 

 by a competent lawyer. This is not an offi- 

 cial document, and its value depends largely 

 upon the ability and watchfulness of the 

 party making the abstract. Ownership of 

 land is conveyed by means of a deed. A 

 deed is an instrument conveying at least a 

 life interest in the land. Care should be 

 taken that the deed contains the essential 

 parts and that it is properly executed. 



DEEDS 



Deeds are of two kinds : Quit claim deeds, 

 which convey all the rights, title and inter- 

 239 



