Auction 150, Lot 744

"[Lot of 2 - Vellum Manuscript Indentures]",

Subject: Indentures

Period: 1786-87 (dated)

Publication:

Color: Hand Color

Size:
28.6 x 20.4 inches
72.6 x 51.8 cm

These two vellum indentures describe the debts and property of the Hoare family, from the parish of St. Clement Danes in London. On November 17, 1764 Robert Hoare Sr. used his property, including a cottage, outhouse and garden, as collateral to borrow 50 pounds from Richard Prickett, for a term of 500 years "under the yearly rent of a pepper corn." In 1765 and 1775, Robert Hoare Sr. borrowed a further 30 pounds from Mr. Prickett, bringing his total debt to 80 pounds. Upon Mr. Hoare's death on May 11, 1778, his estate was passed to his wife, Elizabeth, for the duration of her life, and then to their son, Robert Hoare Jr.

Elizabeth Hoare paid off the full interest and 30 pounds of the principal to Joseph and Mary Cullum and Thomas and Elizabeth Pearce, Mary Cullum and Elizabeth Pearce being the beneficiaries of Richard Prickett. Elizabeth Hoare then contracted with Edward Wells the younger, of Wallingford in the county of Berkshire, to pay the remaining 50 pounds to the Cullums and Pierces, thereby entitling Edward Wells to the mortgage to the Hoare property.

The first indenture, signed June 2, 1786, witnesses the borrowing of 30 pounds by Robert Hoare Jr. from Edward Wells against the mortgage of the property, bringing the Hoare family debt back to a total of 80 pounds. The debt was due on December 2, 1786, but Robert Hoare Jr. was only able to pay the interest on the debt. On March 23, 1787, Robert Hoare Jr. sold the family property outright to Edward Wells for a sum of 126 pounds, from which the 80 pounds owed were to be deducted.

The second indenture, signed March 22, 1787, witnesses the further sale of the property by Edward Wells to John Wells, "being a person nominated by and in trust for the said Edward Wells," for the sum of 80 pounds and 5 Shillings.

The top of the indentures are cut in a jagged ("toothed") line, as was the common practice with indentures. The legal contract was duplicated on a single sheet, and then the copies were separated by a jagged edge, so that the two pieces could be fit together again to verify authenticity. The indentures includes tax stamps and the red wax seals of Robert Hoare and Edward Wells.

References:

Condition: A

Issued folding with minor toning and soiling.

Estimate: $350 - $425

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Closed on 9/17/2014

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