204 The Farmer's Business Handbook 



ceedings to twenty years or upwards, which is 

 the usual period of limitation of actions upon 

 sealed instruments, or for the recovery of real 

 property. This whole matter of the limitation 

 of actions should be carefully borne in mind, 

 and the local statutes consulted when there is 

 any possibility of a claim outlawing, as it is 

 always possible to prevent such an unfortunate 

 occurrence by beginning an action at any time 

 before the limitation is complete, even though 

 it be but a day before the statutory period has 

 elapsed. 



Signing contract as agent, may impose liabil- 

 ity on a note. Elsewhere in this work the 

 advice is given not to sign a note to or for 

 a stranger or one not deserving perfect confi- 

 dence. It may be added that the fraudulent 

 person does not usually work openly and ask his 

 victim for his note directly. Instead, he ap- 

 proaches him with offers of a lucrative agency 

 of some kind, or makes him a glittering proposi- 

 tion of some similar nature. His signature is 

 asked to one of their "agreements" or "contracts," 

 which "they always require," etc. Hidden in a 

 mass of words, or perhaps a statement of terms 

 in the contract, will be those terms necessary to 

 make a negotiable promissory note. The note, 

 when negotiated to a holder in due course, be- 

 comes effective against the maker, and all or many 



