of the reserved produce is stipulated to amount at least to a given sum per annum, or be limited not to exceed a given sum per annum, the duty is charged in respect of the highest of such sums given or limited for any year of the term; and if a yearly sum is reserved in addition to such produce, but without such stipulation or limitation, the duty is charged in respect of the yearly sum-and where both a certain yearly sum and also such produce, with such stipulation or limitation, the duty is charged on the aggregate of the yearly sum, and also of the highest yearly amount or value of such produce.

A lease, not otherwise charged, is subject to a duty of 17. 15s. This stamp will often be required to cover other matters introduced in mining leases, in addition to the duties above stated. It is also the proper stamp when no certain rents are reserved.

Counterparts and duplicates of leases, which are charged with a duty not exceeding 5s., are liable to the same duty as the originals, and counterparts of all other leases are liable to the duty of 5s., with a progressive duty of 2s. 6d., but the latter must be impressed with a particular stamp.

All agreements, involving value to the amount of 201. or upwards, are charged with a duty of 2s. 6d., and a progressive duty of 2s. 6d.

An instrument under seal, amounting only to an agreement for a lease, requires a stamp of 17. 15s., as a deed not otherwise charged (p).

Schedules or inventories of lands, fixtures, or other goods and effects, or containing terms and conditions or other matter to be referred to and given in evidence as part of or material to any agreement, lease, deed or other instrument, but which shall be separate from, and not endorsed on or annexed to it, are charged with the same duty as the agreement, lease, deed or other instrument, where such duty does not exceed 10s., and in other cases with a duty of 10s., with

(p) Clayton Burtenshaw, 5 Barn. & C. 41; 7 Dowl. & R. 800.

progressive duty in every case of the same amount as the principal duty.

Assignments and surrenders of leases on any other occasion than a sale or mortgage are charged with the same duties as the leases, when the duty does not exceed 17. 15s., and in other cases with a duty to that amount.

The progressive duty on all leases and transfers amounts to 10s., except where the ad valorem duty is less than that sum, and then to the same amount as the ad valorem duty.

If an inventory be referred to by an agreement as annexed to it, although it be not annexed till after the execution of the agreement, it will be counted as part of the agreement in fixing the duty, and it is unimportant that the inventory is stamped as such (q).

A licence in fee to work mines would appear to be chargeable in the same manner as an absolute conveyance; for it amounts to the absolute sale of an incorporeal hereditament. In other respects there seems to be no distinction between leases and licences. A licence for a limited period amounts to a lease or tack, and comes within the meaning of the schedule of the act as an hereditament, under the title "Lease;" and as a right or interest in lands, under the title "Conveyance."

The stamp law has been much improved by the statute 13 & 14 Vict. c. 97. In cases of doubt as to the proper stamp, any instrument, whether previously stamped or not, may be submitted to the opinion of the commissioners, who are required, on payment of 10s., to affix a particular stamp, denoting the full and proper duty to be paid. The sufficiency of this stamp cannot afterwards be questioned in any court. An appeal is also allowed from the Stamp Office on a case stated to the Court of Exchequer, if it is thought that too much duty is demanded. The penalty in stamping an instrument is 107., and if the duty exceeds

(9) Veal v. Nicholl, 1 Mood. & Rob. 248.

107., interest at 51. per cent. per annum, but not beyond the amount of the duty. The penalty may be remitted within twelve calendar months, on showing to the satisfaction of the commissioners that the instrument was not duly stamped by reason of accident, mistake, inadvertency or urgent necessity, and without design to evade the duty.

By a late statute for the amendment of common law procedure, an instrument improperly stamped may be received as evidence at any trial, on payment of the whole or deficient part of the duty and the penalty, and a further penalty of 11. The judge must determine the duty (r).

If the instrument be lost, the want of proper stamps cannot be supplied (s).

A stamp may be affixed, even in the course of a trial (t). In equity, a cause will be allowed to stand over to enable a proper stamp to be obtained, or the cause may proceed upon an order that the decree shall not be delivered out till the instrument has been produced to the registrar duly stamped (u). It has been decided, that if a deed bearing the proper stamp is produced, but which is proved not to have been stamped at the time of its execution, it will be receivable in evidence, without inquiry whether the stamp was affixed on payment of the proper penalties (x). If the stamp is required by law to be affixed within a given time, the Court must, of course, inquire into the time (y). But this does not apply to leases.

Different quarries or mines may be demised by the same deed, at distinct rents, and one stamp for the gross amount of the rents will be sufficient (z).

If a third party enter into a covenant for payment of

(r) 17 & 18 Vict. c. 125, ss. 28, 29. (s) Rippener v. Wright, 2 Barn. & Ald. 478; Smith v. Henley, 13 L. J., N. S., C. C., 221.

(t) Burton v. Kirkby, 7 Taunt. 174; 2 Marsh. 480.

(u) Huddleston v. Briscoe, 11 Ves. 595; Chervet v. Jones, 6 Madd. 267.

(x) Rex v. The Inhabitants of Preston, 3 Nev. & Man. 31; 5 Barn. & Ad. 1028.

(y) Ibid.; and see Huddleston v. Briscoe, 11 Ves. 595.

(z) Boase v. Jackson, 6 Moore, 480. See Blount v. Pearman, 1 Bing., N. S., 408.

the rent, the lease stamp will be sufficient; for the covenant was only auxiliary to the lease, and the question in such cases is, what is the leading character of the instrument (a)?

If a fine is proved to have been paid, but it does not appear in the deed, the lease stamp alone will also be sufficient. The duty is regulated by the consideration appearing on the face of the instrument (b). But parties are subject to a heavy penalty, in not expressing the full consideration, in order to evade the payment of the full duties (c).

An instrument stated that it was agreed to sell certain upper veins or beds of coal, at the rate of 751. per acre, and that if coal should be worked in any year exceeding 1007. at that rate, the excess should be paid for. It was held, that a stamp of 17. 15s. was sufficient, without an ad valorem stamp, as in a conveyance (d).

II. All deeds and conveyances concerning estates within the North (e), East (f) and West (g) Ridings of the county of York, and within the county of Middlesex (h), are directed to be registered. The registry is expressed in the act for the West Riding of Yorkshire to be at the election of the parties. But in all the acts, all deeds and conveyances shall be adjudged fraudulent and void against any subsequent purchaser or mortgagee for valuable consideration, unless a memorial thereof be registered in the manner prescribed before the registry of the memorial of the deed under which the subsequent purchaser or mortgagee shall claim.

None of these acts extend to copyhold lands, or to leases

(a) Pratt v. Thomas, 4 Carr. & P. 554.

(b) Doe d. Kettle v. Lewis, 10 Barn. & C. 673; Doe d. Higginbottom v. Hobson, 3 Dowl. & R. 186. See Duck v. Braddyl, 13 Price, 455; Robinson v. Macdonnel, 5 Maul. & Sel. 228.

(c) 48 Geo. 3, c. 149, s. 22. (d) Phillips v. Morrison, 12 M. & W.740; 13 L. J., N. S., Exch., 212. (e) 8 Geo. 2, c. 6. (f) 6 Anne, c. 35.

(g) 2 & 3 Anne, c. 4; 5 & 6 Anne,

c. 18.

(h) 7 Anne, c. 20; 25 Geo. 2, c. 4.

at rack-rents, or not exceeding twenty-one years where the actual possession and occupation go along with the lease.

All conveyances of lands, being part of 95,000 acres in the Bedford Level, are also directed to be registered. And it is enacted, that no lease of such lands, except leases for seven years or under, in possession, shall be of force but from the time of registry (i).

The registry of leases in Ireland is regulated by similar provisions (k).

Leases under powers or by appointment must be registered (1).

The new registry of a lease is not cured by registering an assignment in which the lease is recited (m).

The exception of leases at rack-rents is not applicable to mines. But the exception of leases, not exceeding twentyone years, exempts a large proportion of mining leases in the register districts from being registered. If such a lease be assigned for a valuable consideration, it will still remain exempt from registry. But if it be assigned in mortgage, or in any manner by which the actual possession and occupation do not go along with the lease, it ought to be registered, as well as the assignment (n).

(i) 15 Car. 2, c. 17, s. 8. (k) 6 Anne, c. 2.

(1) Scrafton v. Quincey, 2 Ves. 413. (m) Honeycomb v. Waldron, 2 Str.

1064; Jack v. Armstrong, 1 Huds. & Bro. 727; Fary v. Smith, ibid. 735. (n) See Fary v. Smith, supra.