Arcana clericalia, or, The mysteries of clarkship being a sure way of setling estates by [brace] deeds, fines, and recoveries : with the forms of all manner of charter-parties in maritime cities, towns and corporations : with a table of all the principle matters therein contained / by George Billinghurst ...

A Letter of Composition for half Debts.

(50.) TO all to whom, &c. A. B. C. D. &c. Cre∣ditors of E. F. &c. do send greeting: Whereas the said E. F. the Day of the Date of* 1.1 these presents, is, and standeth justly indebted, and doth owe unto us the several parties above∣named, divers and several sum and sums of Mo∣ny: And by reason of the many losses, great hin∣derances, and other damages happened unto him, he is utterly unable, as he affirmeth, and as he hath made appear unto us, to give other satis∣faction for his said Debts, than by and with such Goods and Wares as are now remaining in his hands, and such Debt and Debts as are now at present owing unto him: which we the said Cre∣ditors are unwilling to accept, or in any wise to intermeddle with: but have rather resolved and made choice to undergo a loss certain, and to ac∣cept of ten shillings per libram, or the one half* 1.2 of the Debts by him owing unto us, to be duly payed in full satisfaction for our said Debts in manner and form following, &c. [here set down the Manner and Days of payment.]

(51.) Now know ye, that we the said Cre∣ditors* 1.3 do Covenant and grant, and every of us for his own part, and for his own Executors and Administrators, doth Covenant and grant to and with the said E. F. his, &c. That if the said E. F. his, &c. or any of them shall well and truly pay, &c. [here set down as before, the

manner of payment] or for the sure payment thereof in manner and form aforesaid, shall before the—day of, &c. next ensuing the Date of these presents, become bounden unto every of us in several penal Obligations, in double the said sums to be contained in the several Conditions thereof: And further that if the said Obliga∣tions and every of them, shall be delivered to such person or persons as we shall appoint, duly sealed and executed by the said E. F. at or before the, &c. next ensuing the Date hereof, That then from and after such payment made as aforesaid, or the said several Obligations made, executed and delivered as aforesaid, for the several pay∣ments aforesaid, according to the intent and true meaning of these presents, we the said Creditors and every of us, and the Executors, &c. shall and will hold our selves well contented and satisfied for all such Debts as he the said. E. F. did formerly owe unto us, or any of us before the sealing of the said Obligations.

(52.) And that then also we t••e said Credi∣tors,* 1.4 and every of us, or the Executors, &c. with∣in ten days next after such payment made as a∣foresaid, or the sealing and delivery of the said Obligations, according to the true intent and meaning of these presents, shall and will seal and subscribe, and in due form of Law deliver unto the said E F. his, &c. one or more general Release or Releases, Discharge or Discharges, of all Debts, Duties and Demands whatsoever, by him the said E. F. unto us and every of us, for∣merly owing or payable, from the beginning of the world until the days of the Date of the said Obligations, so to be sealed and delivered by the said E. F. his, &c. as aforesaid, as he the said E. F. his Executors or Administrators, his or their Counsel learned in the Law, shall reasonable de∣vise, advise or require.

(53.) Provided alwaies, That these presents* 1.5 or any matter therein contained, shall not be of any force or effect, to bind or charge us, or any of us who have hereunto sealed and subscribed, un∣less and until all and every the said Creditors above-named, shall and do likewise seal and sub∣scribe these presents, at or before the, &c. next en∣suing the Date hereof.

In witness, &c.

Notes

• * 1.1

  Recital of the Debts.
• * 1.2

  Credi∣tors ac∣ceptance of half.
• * 1.3

  Cove∣nant (and obligati∣ons to be entred into) for paiment.
• * 1.4

  To Seal Releas∣es.
• * 1.5

  These presents not to bind any except all seal, &c.