Page:The New International Encyclopædia 1st ed. v. 18.djvu/487

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SPECIAL JURY.
419
SPECIE PAYMENTS.

called esquires, or persons of higher rank, bankers, merchants, and persons who occupy private dwelling houses, or possess certain other property qualifications. Under the ‘Juries Act’ of 1870, either the plaintiff or the defendant in an action is entitled to demand a special jury, but the one making such demand must bear the additional expense, unless at the end of the trial he can obtain a certificate from the trial judge to the effect that the case was a proper one to be tried by a special jury. In some of the United States no provision is made for special juries; but in a few States struck or special juries may be ordered, in the discretion of the court, in important cases. See Jury.

SPECIAL PROCEEDING. Under modern codes of procedure, any civil proceeding which is not an action (q.v.). Under the New York Code of Civil Procedure, the following have been held to be special proceedings: an application for admission to the bar; supplementary proceedings; a proceeding to vacate an assessment; proceedings for contempt; proceedings for condemnation of land; habeas corpus. See Action and consult Fiero, Special Proceedings (2d ed., New York, 1899).

SPECIAL SESSIONS. Under the English judicial system, where two or more justices of the peace sit together for the trial of some important cause, or to transact other urgent judicial business, the sitting is known as Special Sessions. In New York a criminal court for the trial of misdemeanors and petty criminal cases is called the Court of Special Sessions. See Court; Petty Sessions.

SPECIALTY. In law, in its broadest sense, any formal, as distinguished from a simple, contract, including judgments, recognizances, statutes staple, statutes merchant, and deeds of grant; but the term is more frequently used as synonymous with contract under seal. Contracts under seal were the earliest form of contract known to the law, having been used from the earliest time both under the common and the Roman law system. Unlike simple contracts, no consideration is required to give them validity at law, their validity, as in the case of all other specialties, depending on their form and the method of their execution. They must be written or printed on paper or parchment and they must be sealed and delivered by the grantor or obligor. It is said that signing a deed by the obligor is not essential to the validity, although it is now the universal practice to execute the instrument by signing as well as by sealing and delivering it. Delivery is effected by an actual delivery of the instrument by the person executing it to the obligor or to another for the obligor with the intent that it should become operative as a deed or contract under seal. After sealing and delivery the instrument remains in full force even if the person executing it take it back into his possession. One executing a specialty may, however, make a qualified delivery of it called a delivery in escrow (q.v.). Formerly specialties were classified as deeds poll and indentures (see Deed), but now the most satisfactory classification of specialties (using that term as applicable only to instruments under seal) is into grants, bonds, and covenants (qq.v.). All statements contained in a specialty are absolutely conclusive against the party making them and executing the instrument, that is, he is conclusively estopped to deny them. Whenever a specialty contract is given on account of or in place of a simple contract, the simple contract is merged in the specialty contract and thereby becomes extinguished. (See Merger.) The statute of limitations provides a much longer period of limitation for specialties than other forms of obligations, the usual period being twenty years. (See Limitations of Actions.) In case of the death of the obligor the holder of specialty obligations executed by the deceased had at common law much higher rights against his estate than the holder of simple contract obligations. (See Administration.) Although consideration is not necessary to give legal validity to a specialty, courts of equity will not grant their peculiar form of relief by way of specific performance to one who has not given consideration for the specialty obligation which he holds. See Specific Performance; Trust; Uses.

It was formerly held that a corporation could contract only by specialty under its corporate seal. This, however, is no longer the rule in the United States, where it is held that a corporation may enter into contracts by its proper officers without the use of its seal, wherever a private individual might so contract. For further information consult such titles as Contract; Bond; Deed; Covenant; Seal; Equity; Consideration, etc., and consult the authorities referred to under Contract and Seal.

SPECIAL VERDICT. A verdict in which the jury find merely the facts as proved by the evidence and do not apply the law to the facts, but leave it to the discretion of the court as to whether in its opinion the plaintiff or defendant shall succeed. The matter is now regulated by statute in most jurisdictions. In some States such a verdict is said to be ‘subject to opinion.’ See Jury; Verdict.

SPECIE PAYMENTS (abbreviation of ML. in specie, in coin, Lat. in kind, from in, in, and specie, abl. sg. of species, kind), Suspension and Resumption of. The circulating medium of modern States consists both of metallic money and of credit money, issued either by banks or by the Government, which in normal times is convertible into metallic money on demand. (See Money.) But there are few States which have not passed through crises when the metallic covering of its paper money has become too scanty, and the convertibility of the paper has been suspended. Such a general suspension of specie payments is legalized either directly or tacitly by the Government. The issues of credit money are usually in such close relation with the Government that such an action must receive governmental sanction. The effect of suspension is to relax the restrictions upon the issue of paper money, and the general result is a redundancy of such money and its depreciation. This does not happen immediately, as the action generally leads to the hoarding or export of such metallic money as remains in the country, thus causing a void in the monetary circulation which the issues of paper money do not at once fill. The extent of the depreciation of the paper money usually depends upon the facility with which it is issued. On the suspension of specie payments by the Bank