advances

the term 'advances' should be construed as covering the entire process of lending, the debts which result therefrom and the mortgages given as security; whoever pays the documentary stamp taxes, the tax is upon the transaction that is what is forbidden by the law of the United States

Payments made on account (Va.) 211. But what constitutes such posof moneys to become due. It is applied to a session varies with the nature and situation number of specific transactions, as pay- of the premises. 11 Grat. (Va.) 420; 8 ments made to the owner of goods by a Barb. (N. Y.) 253. Cultivation, improvefactor or agent, who has or is to have pos- ment, or inclosure always constitutes occu- • session of the goods for the purpose of sell- pation, and, if the occupant holds under a occupied, will constitute an occupation. Code Civ. Proc. N. Y. §§ 370, 371. The possession must be open and notorious (42 Mass. 95; 16 Wis. 594), distinct and exclusive (150 U. S. 597; 6 Md. 201), hostile (15 111. 271; 13 Ohio St. 42; 89 Wis. 551), and continuous in the occupant or those claiming under him for the period prescribed by statute (47 U. S. 550; 6 Md. 256; 36 W. Va. 445).

Payments made to the owner of goods by a factor or agent, who has or is to have possession of the goods for the purpose of selling them. An agent is entitled to reimburse himself from the proceeds of the goods, and has a lien on them for the amount paid; Liverm. Ag. 38; Merchants' National Bank v. Pope, 19 Or. 35, 26 Pac. 622; and an action over for the balance, against his principal, if the sales are insufficient to cover the advances; Parker v. Brancker, 22 Pick. (Mass.) 40; Marfield v. Goodhue, 3 N. Y. 62; Frothingham v. Everton, 12 N. H. 239; Harrison, Frazier & Co. v. Mora, 150 Pa. 481, 24 Atl. 705; Eichel v. Sawyer, 44 Fed. 845; but he must first exhaust the property in his hands; Balderston v. Rubber Co., 18 R. I. 338, 27 Atl. 507, 49 Am. St. Rep. 772. Where to save himself from loss the factor buys the goods himself, the consignor may elect whether he will ratify the sale or demand the value of the goods; Sims v. Miller, 37 S. C. 402, 16 S. E. 155, 34 Am. St. Rep. 762. See Agent; Factor. In the case of a contract for the manufacture and sale of merchandize, a stipulation to advance money on account means to supply beforehand, to loan before the work is done or the goods made; Powder Co. v. Burkhardt, 97 U. S. 110, 24 L. Ed. 973. It also refers to a case where money is paid before, or in advance of, the proper time of payment; it may characterize a loan or a gift, or money advanced to be repaid conditionally; Vail v. Vail, 10 Barb. (N. Y.) 73. Though in its strict legal sense the word does not mean gifts or advancements, but rather a sort of loan, in its ordinary and usual sense it includes both loans and gifts — rather the former than the latter; Prouty v. Swift, 51 N. Y. 597; Nolan's Ex'rs v. Bolton, 25 Ga. 352. As to mortgages to secure future advancements, see Mortgage.

Moneys paid before or in advance of the proper time of payment; money or commodities furnished on credit; a loan or gift, or money advanced to be repaid conditionally. See 51 Barb. 597, 612; 10 Barb, 73, This word, when taken in its strict legal sense, docs not mean gifts, (advancements, ) and does mean a sort of loan; and, when taken in its ordinary and usual sense, it includes both loans and gifts,— loans more readily, perhaps, than gifts. 25 Ga. 355. Payments advanced to the owner of property by a factor or broker on the price of goods which the latter has in his hands, or is to receive, for sale. M

contracts, are said to take place when a factor or agent pays to his principal a sum of money on the credit of goods belonging to the principal, which are placed, or are to be placed, in the possession of the factor or agent, in order to reimburse himself out of the proceeds of the sale. In such case the factor or agent has a lien to the amount of his claim. Cowp. R. 251; 2 Burr. R. 931; Liverm. on Ag. 38; Journ. of Law, 146.