? on Discharge of Mortgage

[Jerry Pitts]

Originally Posted by farmer_giles_of_ham

I can sign and sign and sign, but I can't permanently alienate something essential, like my will (like permanently losing a power of attorney- it's impossible). If a contract just doesn't work out, I have a right to pay the damage, to get clean; to pay the debt- a perpetuity shall not be in law, because the impossible cant be required.

Careful now, there are some people out there that are very unscrupulous and will take advantage of a given situation that you left 'blank'.

" Bills of Exchange Act
PART II: BILLS OF EXCHANGE
Form and Interpretation of Bill
Perfecting bill 30. Where a simple signature on a blank paper is delivered by the signer in order that it may be converted into a bill, it operates, in the absence of evidence to the contrary, as an authority to fill it up as a complete bill for any amount, using the signature for that of the drawer or acceptor, or an endorser, and, in like manner, when a bill is wanting in any material particular, the person in possession of it has, in the absence of evidence to the contrary, the authority to fill up the omission in any way he thinks fit.
R.S., c. B-5, s. 31. "

Jerry

[Shoonra]

I'll bet the mortgage companies haven't lent out any mortgages in gold coin, and they definitely don't expect or demand repayment in gold coin. They'll gladly settle for legal tender.

In the case of Fugate, she was probably born after the US went off the gold standard in 1933, or at least didn't possess any gold assets at that time, and since 1933 has been more than happy to accept wages and other payments in legal tender, and similarly use legal tender when making purchases.

As for a Bill of Exchange, it is a draft, and unlike a check, it is not a draft on a bank account but on money held by someone other than a bank. Whatever kind of document Fugate's document is called, it is illusory because there is no way the US Treasury will pay her mortgage for her. It's amazing that at least one person on this forum thinks that he can effectively "Refuse for Cause" even puiblished federal regulations, but that the Treasury cannot refuse a bogus draft.

As for redeeming US paper currency in "lawful money"; go to a Federal Reserve Bank - or even a coin dealer - and try to get a silver dollar coin in exchange for a $1 FRN. Let us know how successful your arguments were.

[Jerry Pitts]

Don't know where you get your information relative to the BOE, but as can be seen in this definition found in the BOE Act, no-where is the words bank, or draft, or check to be found.

"Bills of Exchange Act
PART II: BILLS OF EXCHANGE
Form and Interpretation of Bill
Bill of exchange

16.
(1) A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay, on demand or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person or to bearer.

Non-compliance with requisites
(2) An instrument that does not comply with the requirements of subsection (1), or that orders any act to be done in addition to the payment of money, is not, except as hereinafter provided, a bill.

Unconditional order
(3) An order to pay out of a particular fund is not unconditional within the meaning of this section, except that an unqualified order to pay, coupled with
(a) an indication of a particular fund out of which the drawee is to reimburse himself or a particular account to be debited with the amount, or
(b) a statement of the transaction that gives rise to the bill,
is unconditional.
R.S., c. B-5, s. 17."

Though a cheque is determined to be a type of 'bill', the difference between a cheque and a BOE (such as fugates) is that the cheque is payable on demand while the BOE (fugate style) is payable on demand or at a specified time. See below.

" Bills of Exchange Act
PART III: CHEQUES ON A BANK
Cheque 165.
(1) A cheque is a bill drawn on a bank, payable on demand.

Provisions as to bills apply
(2) Except as otherwise provided in this Part, the provisions of this Act applicable to a bill payable on demand apply to a cheque.

Cheque for deposit to account
(3) Where a cheque is delivered to a bank for deposit to the credit of a person and the bank credits him with the amount of the cheque, the bank acquires all the rights and powers of a holder in due course of the cheque.
R.S., c. B-5, s. 165."

Also, be it noted, that those researching this BOE Act, it is an international document with which the United States is a signatory to an agreement in recognition and application of its' principals.

Jerry

Originally Posted by Shoonra

As for a Bill of Exchange, it is a draft, and unlike a check, it is not a draft on a bank account but on money held by someone other than a bank. Whatever kind of document Fugate's document is called, it is illusory because there is no way the US Treasury will pay her mortgage for her. It's amazing that at least one person on this forum thinks that he can effectively "Refuse for Cause" even puiblished federal regulations, but that the Treasury cannot refuse a bogus draft.

[rentiap]

Originally Posted by Jerry Pitts

Also, be it noted, that those researching this BOE Act, it is an international document with which the United States is a signatory to an agreement in recognition and application of its' principals.

Jerry

Is this the correct one? http://www.canlii.org/ca/sta/b-4/
or is there another?

[rentiap]

It seems that most people are missing this very important step.

Bills of Exchange Act
PART V: CONSUMER BILLS AND NOTES

Consumer bill or note to be marked


190. (1) Every consumer bill or consumer note shall be prominently and legibly marked on its face with the words “Consumer Purchase” before or at the time when the instrument is signed by the purchaser or by any person signing to accommodate the purchaser.

Effect where not marked


(2) A consumer bill or consumer note that is not marked as required by this section is void, except in the hands of a holder in due course without notice that the bill or note is a consumer bill or consumer note or except as against a drawee without that notice.

R.S., c. 4(1st Supp.), s. 1.

[Jerry Pitts]

It appears that you definitely have found the correct source, and I must humbly admit that your reading comprehension and speed has surpassed my ability. In defense of my lack of speed, I will state that I am also cross referencing this material with local material of the same nature.

The section you bring forth, is absolutely one that almost everyone overlooks in day to day life.

Jerry

Originally Posted by rentiap

It seems that most people are missing this very important step.

[David Merrill]

Originally Posted by Shoonra

I'll bet the mortgage companies haven't lent out any mortgages in gold coin, and they definitely don't expect or demand repayment in gold coin. They'll gladly settle for legal tender.

In the case of Fugate, she was probably born after the US went off the gold standard in 1933, or at least didn't possess any gold assets at that time, and since 1933 has been more than happy to accept wages and other payments in legal tender, and similarly use legal tender when making purchases.

As for a Bill of Exchange, it is a draft, and unlike a check, it is not a draft on a bank account but on money held by someone other than a bank. Whatever kind of document Fugate's document is called, it is illusory because there is no way the US Treasury will pay her mortgage for her. It's amazing that at least one person on this forum thinks that he can effectively "Refuse for Cause" even puiblished federal regulations, but that the Treasury cannot refuse a bogus draft.

As for redeeming US paper currency in "lawful money"; go to a Federal Reserve Bank - or even a coin dealer - and try to get a silver dollar coin in exchange for a $1 FRN. Let us know how successful your arguments were.

Again we find Shoonra justifying the 1933 gold seizure as theft. Whether or not the Treasury honors the BOE matters naught. The mortgage company has the BOE. If the mortgage company R4Cs the BOE then the debt is waived.

Shoonra speculates and does not know - he does not know what the mortgage company did with the BOE. He does not know the Treasury dishonored it or even if the mortgage company tendered it to the Treasury for redemption.


Regards,

David Merrill.

[rentiap]

Originally Posted by Jerry Pitts

It appears that you definitely have found the correct source, and I must admit that your reading comprehension and speed has surpassed my ability. In defense of my lack of speed, I will state that I am also cross referencing this material with local material of the same nature.

The section you bring forth, is absolutely one that almost everyone overlooks in day to day life.

Jerry

Thank you for the complement but I must humbly admit that the student(me) is only as good as the teacher(Vic Beck)
I'm sure my reading skills are no better than yours I just had prior knowledge of this fact.

Ps there really is a better way than the BOE act.
inquiring minds want to know.
click on the links to find out
Rapidshare link to Vic Becks June 3rd seminar part a. If you are not familiar with using rapidshare click on the free button
Rapidshare link to Vic Becks June 3rd seminar part b.
You can thank me later after you have listened to Vic many times.
It just gets better the more times you listen.
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I conditionally accept your offer, upon proof of claim that I am you property!

[rentiap]

This may be of some interest also.
Bank Act, S.C. 1991, c. 46Click on link

[Jerry Pitts]

That one will definitely take a while... 994 pages..

Also, the Vic Beck is not retrievable at this location.
Jerry