unwearied labour is bestowed in digesting, illustrating, and commenting upon every part of the law which concerns the realty, whatever relates to the mere personalty, that unsubstantial ever-changing property, which was almost beneath the regard of the lordly proprietor of lands and manors, is either altogether passed over or dismissed with an occasional notice. Unfortunately, in modern times, the labour manifested in the compilations of Comyn, Viner and Bacon, has not been fashionable, and hence it has happened, that there is not a single treatise in which this part of our law has been reduced into one general code. Particular sections have, it is true, been handled with great ability, and some by persons now deservedly at the summit of the profession. The work of the learned Chief Justice of the King's Bench on Shipping, that of Mr. Justice Park on Insurance, and that of Mr. Justice Bayley on Bills of Exchange, are all excellent in their kind. Again there is a short Treatise on the Law of Principal and Agent by Mr. Paley, and a few others which will readily occur to the memory of the reader, well deserving the attention of the student. Still, in all these treatises there is this disadvantage, that each being the work of a separate individual, and considered only with reference to its own peculiar class of cases, there wants that unity of design, that co-relation between the different parts making up the whole, without which we conceive there can be no perfect understanding either of this or any other system. To judge of a system, as of a building, to ascertain its bearings and proportions, it must be viewed altogether, and with one sweep of the eye. The parts of which it consists, being all referrible to common prin ciples, and directed to a common end, necessarily illustrate each other.

Granting, however, to these works all the merit to which they are entitled, still so long a time has elapsed since their appearance, that great and important changes have taken place. The very principles on which many of the decisions were founded have been shaken-the commercial policy of ages has been overturned, and positions of law, deemed incontrovertible, may be, and indeed have been, drawn into question. Again, innumerable cases have since come under the cognizance of the courts, doubtful points have been settled, and

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many distinctions and qualifications of general rules have been admitted to meet particular exigencies. It is evident, therefore, that some correction, and more addition will be needed. But, besides all this, there are several important heads of mercantile law which have never yet been the subject of any methodical treatise; and there is a multitude of cases relating to them which are only to be found scattered through volumes of reports, or at best, collected under general titles, without order, method, or connection. Now this may be a matter of little consequence to those in whom long practice supplies the place of study or research; but it is a formidable obstacle to the progress of the novitiate. There are not many capable of either generalizing or distinguishing correctly. At all events, the study becomes a work of much greater time and difficulty, than it would be if a clear and comprehensive notion were first obtained of the principles which over-ride and govern the whole. And, after all the pains which the most persevering industry can bestow, the mere case-lawyer will be liable to continual error from trusting to fancied and incorrect analogies. In short, no sound lawyer ever was or ever will be made by the mere study of particulars. The only way to know accurately, is to make sure of the principle-the only way to judge truly, is to consider the matter in question with reference to that principle, and then, by way of guidance, help, or confirmation, to ascertain whether the same or a like point has before arisen, and in what way it has been determined.

To supply, as far as in our power, these several imperfections; to connect the disjointed parts of the system, and embody all which belongs to it; to fill up what is defective, correct what is erroneous, and fix what is floating, is the object we have now in view; and in order to this, we propose to give in successive numbers of this magazine a series of plain, concise, and popular treatises, on the mercantile law of England. In the prosecution of this design it is our intention first to shape out a general outline of the whole system of foreign and domestic trade, commencing with the simplest contract of sale, and tracing, in somewhat historical order, its gradual progression to the vast and complex operations of modern commerce. Having given this

view of the whole, in order to the better understanding of the parts, we shall then retrace the sketch, and endeavour to fill it up with greater accuracy of detail. Nor are we without a hope, that in the way proposed, the student may be led by a gradual and easy ascent to a vantage-ground, from whence the entire plan may be seen, as it were, mapped out before him. It will then be found, that the several districts into which it is parcelled out, however distinct in their boundaries, all partake of the same general properties, and are governed by the same general rules. The only difficulty then remaining will be the assigning of the particular case to its own specific class; a difficulty which will be infinitely lessened by the commanding view thus obtained. It has been urged before, and it cannot be too often repeated, that no art, no science, no system of any kind ever was or ever can be thoroughly learnt by the mere investigation of the separate parts. Who ever became, we will not say a good physician, but even a good oculist, by attending solely to the eye? Who can understand the working of a compound machine, if he confine his view to a single wheel? It is by observing the relation of the parts to each other, and to the whole, that truth is to be obtained.

Each case also must be carefully analysed, so as to elicit the principle. The same principles which regulate the simplest and most direct bargain between two individuals, will then be found to apply equally to the most intricate commercial dealing. The mind, however, is frequently puzzled by the introduction of a number of circumstances, altogether immaterial to the real question in issue; nor is there any habit more valuable, in order to correct and ready judgment, than that of separating immediately what is essential from what is merely accidental, and then confining the view solely and exclusively to the former. Thus, in a question as to the precise interpretation of the terms of a contract of sale, what matters it, for this purpose, whether the real buyer and seller dealt directly with each other, or by the intervention of a broker-whether both resided in England, or one abroad-or whether the goods were to be handed over immediately, or to be delivered through the agency of a carrier? of a carrier? Our notion in this respect will be

illustrated by the work itself. For the present, therefore, a single example will suffice. A mercantile house in England writes to one of the parties abroad, commissioning him to purchase and ship off a certain quantity of foreign produce to be consigned to them. He employs his broker to effect the sale, who makes a bargain, as broker, with the owner of the goods, and stipulates for the delivery of them at a particular place, on a specified day, to be thence shipped off to England. The seller gives the broker three months' credit for the price of the goods; and he draws a bill of exchange on his principal for the amount. This is accepted by him, and discounted at his bankers' abroad. The bankers again draw upon the firm in England, and they accept the bills upon the faith of the goods consigned. Now this, stripped of the machinery, is neither more nor less than a simple sale between A. and B. of goods to be delivered on a day fixed, and paid for in three months' time. It is evident, however, that out of a transaction so complicated a great variety of questions may arise. Thus, the goods may neither be of the quality, nor the quantity contracted for—they may have been damaged in the carriage either by land or water- they may have been altogether lost the broker may have deviated from his authority in making the purchase-he may have become bankrupt before the three months were expired firm in England also may be insolvent, either before the goods are shipped and they may consequently be stopped in transitu- or after their arrival the wharfinger may detain them for his general balance. These and many other cases may occur, and the first consideration, therefore, ought always to be, on what particular part of the transaction does the matter in dispute depend? If it be on the legal construction of the contract of sale, then every thing may be dismissed, except what relates to the mere bargain, as between A. and B. If it arise out of the relation of principal and broker, or of the partner abroad to the firm at home, then let it be viewed solely with reference to those several relations; the other particulars being taken into account only so far as they are necessary to the elucidation of that which is the real question.

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All this may seem, and certainly is, very obvious; yet however true and simple in theory, there is scarcely any rule less

regarded in practice. It is the great fault of modern reports, that they set out indiscriminately all the facts of the case, without considering or caring whether they have any immediate bearing upon the point to be decided. This may be very useful for swelling the bulk of a volume, and enhancing its price; but it is attended with a serious inconvenience to the reader. He is obliged to wade through the whole, because he is ignorant what and how much of it is material-and thus the memory is fatigued, the attention dissipated, and the mind distracted by a variety of minute circumstances, which have no more to do with the matter really in dispute than the adventures of Tom Thumb, or Jack the giant-killer. This error we shall at least endeavour to avoid in the present work. Indeed, to give a lengthened detail of particular facts, is manifestly inconsistent with its design. Where so much is to be comprehended, the limits assigned to each portion must necessarily be very narrow, and we shall therefore merely lay down general propositions, and illustrate them severally and in order, by a brief statement of the most important cases, which properly belong to them. We are at the same time far from supposing that it will be possible to proceed strictly in an arrangement so purely philosophical, as that each case shall be assigned exactly to the class under which it falls. Such a method, however excellent in theory, would be found exceedingly inconvenient, if not altogether impracticable. An exception to one rule is an example of another, and it may be proper to consider it sometimes as the one, and sometimes as the other. But with this and such other qualifications as are absolutely necessary, the rule of philosophical classification will be carefully observed. If, for instance, the case be one of partnership, it will be ranged under the head of partnership, even though the subject-matter should happen to be a bill of exchange, or a charter-party of affreightment. Under the title of bill of exchange, the properties and incidents of a bill, as such, will be considered, and they only, and so with the rest. The advantages of such a method are so obvious, that on this head. we shall say no more, but shall conclude these prefatory observations by reminding our readers, that if a faithful exposition of the law and principles of trade be at all times useful in a country depending in a great measure for its subsistence