Mercantile Law. [Ch. 31. No. 4.

753

 

shall be in writing, and signed by the party to be charged
therewith, or some other person thereunto by him lawfully
authorised.

5. No special promise made by any person to answer for
the debt, default, or miscarriage of another person, being in
writing, and signed by the party to be charged therewith or
some other person by him thereunto lawfully authorised,
shall be deemed invalid to support an action, suit, or other
proceeding to charge the person by whom such promise
shall have been made, by reason only that the consideration
for such promise does not appear in writing, or by necessary
inference from a written document.

6. In any action for the recovery of any debt or damages
grounded upon any simple contract, no acknowledgment or
promise by words only shall be deemed sufficient evidence
of a new or continuing contract whereby to take any case
out of the operation of any law or Ordinance establishing
any prescription or limitation of action affecting such
contract, or for giving relief to persons insolvent, or making
cession of their property for the benefit of their creditors,
or to deprive any party of the benefit of any such law or
Ordinance, unless such acknowledgment or promise shall
be made or contained in or by some wniting, to be signed by
the party chargeable thereby; and where there shall be two
or more joint contractors, or heirs, or executors, or adminis-
trators of any contractor, no such joint contractor, heir,
executor, or administrator shall lose the benefit of such law
or Ordinance, so as to be chargeable in respect or by reason
only of any written acknowledgment or promise made and
signed by any other or others of them: Provided that
nothing herein contained shall alter or take away or lessen
the effect of any payment of any principal or interest made
by any person whatsoever: Provided also, that in actions
to be commenced against two or more such joint contractors,
or heirs, or executors, or administrators, if it shall appear
at the trial or otherwise that the plaintiff, though barred
by any such law or Ordinance, as to one or more of such
joint contractors, or heirs, or executors, or administrators,
shall nevertheless be entitled to recover against any other
or others of the defendants, by virtue of a new acknowledg-

T.—IVv. 48

Considera-
tion for
guarantce
need not
appear in
writing.

Acknow-
ledgment of
debts.