THE STATUTE OF FRAUDS. 11 



cdgo of a shilling on the palm of tlio hand of tho 

 Boiler, and then put tho shilling back into his own 

 pocket. This in many fairs is called " striking a 

 bargain," but it is not a suflicient part payment to 

 satisfy tho Statute of Frauds. 



It would appear that the true legal effect of Effect of 

 giving and receiving earnest is, to afford conclusive earnest 

 evidence that a bargain was actually completed bargatu 

 with mutual intention that it shoidd bind both 

 seller and buyer. In Shcppard's Touchstone we 

 have this rule: ''If one sell me his horse or any- 

 thing for money .... and I give earnest money, 

 albeit, if it be but a penny, to the seller .... 

 there is a good bargain and sale of tho thing to 

 alter the property thereof." 



The thu'd exception is, that there must be some Third 

 note or memorandum in writing of the contract, signed ' 

 This note sliould contain tho names of the parties J}' 

 contracting, and generally the terms upon which "°*<^ 

 they contract, because the word "bargain" means 

 the terms tho parties mutually assent to, and the 

 words of the statute require a note or memorandum 

 " of the bargain " (/). The note need not contain 

 the signatm-e of both pai-ties; but the names or 

 descriptions of the parties to the contract shoidd 

 be shown {/ii). 



{I) Kcnworthy v. Schojield, 2 B. & C. 945 ; see Sale v. Lambert, 

 L. R., 18 Eq. 1 ; Potter v. BuJfieM, L. R., IS Eq. 4. 



(w) Champion v. Fliimmer, 1 N. R. 2.52 ; TTUhams v. Lake, 

 29 L. J., Q. B. 1 ; 2 E. & E. 349. 



niemorau- 

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