deduced therefrom will vary according as the annual rent of the estate varies. On this point, difficulties will sometimes arise; for the value of an estate, depending very often on some real or supposed advantages, or on some local or personal recommendations, will, in many instances, occasion a difference of opinion; and, in most cases, be a matter of some uncertainty. Some annual rent must, however, be fixed upon as the full sum for which the estate would let, and this rent being multiplied by the sum in the Table, corresponding with the term of years, gives the present value of the lease. Thus, if a house lets for 50l. per ann. to find the value of a lease thereof for 21 years, reckoning interest at 6 per cent. multiply 50 by 11,764 (the sum in the table corresponding with 21 years) which gives the answer 5881. 4s. It frequently happens that the rent of an estate is charged with some annual expense, such as a reserved or quit rent, the payment of an annuity, taxes, and the like; in such cases, the various charges must be first deducted from the rent received, and the remainder, or nett-rent, only, be multiplied by the number of years purchase in the table.

Example. A person holds a lease, for 35 years, of premises which let for 120l. per annum, out of which he pays 177. 10s. for ground-rent, and 47. 10s. for land-tax; what should he require for the lease, allowing the purchaser to make 7 per cent. interest of his money? The payments to which the rent is subject being deducted, leave a nettrent of 981. which multiplied by 12,948 (the sum in the table corresponding with 35 years) gives 1268l. 18s.

To find the annual rent corresponding to any given sum paid for a lease, divide the sum by the number of years purchase in the table against the term of the lease; and under the rate of interest intended to be made of the purchase money; the quotient will be the annual rent required.

Example. A person is asked 1250l. for a lease of 30 years, what annual rent is equivalent thereto, allowing the purchaser to make 6 per cent. interest of his money? Divide 12507. by 13,765, the years purchase in the table, under 6 per cent. interest, and the answer is 90l. 16s. 2d.

It frequently happens that a tenant is desirous of having the term of his lease renewed before the old lease expires; and if the estate has increased in value since it has been in his possession; it is common, in such cases, for the landlord to demand cithor an increase of the rent, or a gross

sum called a fine, to be paid down in one immediate payment for such renewal. In many leases, particularly those held of colleges and other public bodies, it is cove. nanted that renewals shall be granted at the end of a certain number of years, on payment of a fine to be then agreed upon between the parties; the annual rent of the estate continuing the same. This fine is often a subject of dispute, arising princi pally from a difference of opinion respecting the improved annual value of the estate, or respecting the rate of interest, which each party is endeavouring to make of his money. The former, in some cases, is liable to uncertainty; but, if the latter is once agreed upon, the value of the fine, which ought to be given for renewing a lease of any yearly rent, can, in all cases, be exactly deter mined.

It is well known that when a lease is intended to be renewed, such lease is surrendered or delivered up, and a new lease of the estate is granted for a term of years which includes both the unexpired term of the old lease, and the additional term pro. posed to be renewed. Now the value which ought to be given for the grant of such additional term, will evidently be equal to the difference between the value of the lease for the whole term, and the value of the unexpired part thereof, of which the tenant is in actual possession: thus, if a person holds an unexpired term of twenty years in a lease, and is desirous of having ten years more added to it, or of having a new lease granted for the term of thirty years; the fine, or gross sum, which he ought to pay for such renewal will be equal to the difference between the value of a lease for the whole term of thirty years, and the value of a lease for the unexpired twenty years; this will be easily found from the preceding table.

Example. What fine ought to be given to the landlord for adding seven years more to a lease, of which 14 years are unexpired; allowing the tenant 6 per cent. interest for his money? The whole term for which the new lease is to be granted is 21 years, and the value of a lease for this term, is, by the table under 6 per cent. interest 11,764; the value of a lease for fourteen years is found in the same column to be 9,295, and this subtracted from the former sum leaves 2,469 for the number of years purchase which ought to be given for the fine required. If, therefore, the improved rent of the estate, or the present value beyond the rent payable under the lease, is 50l. per annum

this improved rent, multiplied by 2,469, will give 123l. 98. for the amount of the fine required.

Leases are sometimes granted for a term of years certain, but subject to determine before that period if a particular life or lives should fail within the term; and the term of such leases being usually greater than the probable duration of the lives, the estate may be considered as wholly depending on the continuance of the life or lives nominated.

Life estates are of various kinds; some depend on a single life, of which kind may be considered church-livings, tenancies by courtesy, in dower, &c.; others are granted for two lives, such as joint-tenancies, and joint-tenancies with benefit of survivorship, the former signifying such estates as terminate on the death of either of the parties, and the latter signifying such as terminate on the death of both the parties; other estates are granted for three lives, which, like the last, may be divided into such as depend on the joint continuance of all the lives, and such as depend on the longest of all the lives; the former signifying such as terminate on the death of any one of the parties, and the latter such as terminate on the death of the longest liver of the three lives. When estates are held on two or three lives, and

one of the lives, nominated in the lease, happens to drop, or become extinct, the tenant is often desirous of replacing such life, or of putting in a new life, in order that the estate may continue to be held on the same number of lives in being, and thereby his interest in the same be prolonged. In such cases it is customary, if the estate has improved in value since the original grant of the lease, for the landlord to demand a fine, or sum of money, proportionate to such improved value, and to the age of the person intended to be put to it, or added to those already in possession; the annual rent of the estate continuing the same. It is evidently the interest of the tenant, in this case, to add one of the best lives he can find, that is, a life which has the greatest expectation of living, according to the best tables of mortality, and such a life will be about the age of eight or ten years. How. ever, it will sometimes happen that he may wish to put in a life not exactly of this age, but as it is his interest to put in as good a life as possible, few persons will be disposed to put in one above the age of twenty. The following table will, therefore comprehend the cases of this kind which most commonly occur, from which, the sums to be paid for renewing with a life of any other age may be nearly determined.

G

LEASE, in law, otherwise called a DEMISE, is a conveyance or letting of lands or tenements, in consideration of rent, or other annual recompense made for life, for years, or at will; but always for a less time than the interest of the lessor in the premises; for if it were of the whole interest, it would be more properly an assignment. He that demises or lets, is the lessor; and he to whom it is demised or let, is the lessee.

A lease may either be made by writing or word of mouth, called in law, a lease by parol. The former is most usual; but by the statute of frauds, 29 Charles II. c. 3, all leases of lands, except leases not exceeding three years, must be made in writing, and signed by the parties themselves, or their agents duly authorized, otherwise they will operate only as leases at will. If a lease is but for half a year, or a quarter, or less time, the lessee is respected as a tenant for years; a year being the shortest term of which the law, in this case, takes notice: that is, he is entitled to the general privileges of a tenant for years, and is classed as such, though his term lasts only for the time specified.

To constitute a good lease, there must be a lessor not restrained from making the lease to the extent for which it it granted; a lessee capable of receiving it; and the interest demised must be a demisable interest, and be sufficiently and properly described. If it is for years, it must have a certain commencement and determination; it is to have all the usual ceremonies, as sealing, delivery, &c.; and there must be an acceptance of the thing demised.

Leases were formerly only to a sort of bailiffs, who tilled the land, and paid a part of the profits to the landlord; they were for very short terms, and the tenant's estate was little respected in the law. They are now granted for long terms, and are very beneficial interests.

The following points may be necessary to be specified here concerning leases. First, they must have a certain commencement and end. Leases for life must not be made to commence at a future day, and there must be a livery of seisin. They must now be stamped as a lease, to be valid; and any form of writing will constitute a lease, provided it contains words of present demise, or actual letting; but if it be only an agreement to let, it conveys no immediate title in law, but only an equitable right to have a lease, or to sue at law for

not inaking one. If a lease is made to one for years, and at the same time to another for a longer time, the last lease is not void, but shall take effect after the first expires. A tenant for life cau, in general, only grant a lease to enure during his life; but sometimes a power is annexed to such an estate, to grant leases for a specified time, and under particular limitations, all which must be strictly complied with, or the lease is void; and instances have happened, where building-leases have been set aside, and persons ruined by having granted under-leases. An infant may make a lease; but may set it aside when he comes of age; and the Court of Chancery is empowered to grant leases for idiots, lunatics, infants, and married women.

The rent must be reserved to the executor or the heir of the lessor, according as his estate is real or personal. Lessees are bound to repair, unless the contrary is specified; and although if the house is burnt by accident they are not bound to rebuild, yet they must if the fire be by negligence; and if there is a covenant to pay rent, and a covenant to repair, except in case of fire, yet rent is payable, although the house is not rebuilt by the landlord. If there is a covenant not to assign, lease, or under-let, without licence of the landlord, the tenant cannot even grant an under-lease.

Upon a lease at will, six months' notice to quit must generally be given by either party, to determine on the same day in the year when the lease commenced. Leases made by spiritual persons of their churchlands, must be strictly conformable to certain statutes called the enabling and disabling statutes. The tenant may, at the trial of an ejectment, insist upon his notice to quit being insufficient, although he made no objection when it was served. See further Jacob's "Law Dictionary," title Leases.

LEASE and RELEASE, a conveyance of the fee simple, right, or interest, in lands or tenements, under the statute of uses, 27 Henry VIII. c. 10, giving first the possession, and afterwards the interest, which in law is equivalent to a feoffment. It was invented to supply the place of livery of seisin, and is thus contrived; a lease, or rather bargain and sale, upon some pecuniary consideration, for one year, is made by the tenant of the freehold to the lessee or purchaser, which vests in him the use of the term for a year; and then the statute of uses, 27 Henry VIII. c. 10, immediately

He

transfers the use into possession. therefore being thus in possession, is capa ble of receiving a release of the freehold and reversion; and accordingly, the next day a release is granted to him.

This conveyance was invented by Serjeant Moore, soon after the statute of uses, and the principle upon which it is founded has been properly questioned, there being no actual entry in general under the lease, before the release is made. When a corporation conveys, either a feoffment or actual entry is still necessary. But this mode of conveyance having been long adopted, and in constant practice, its validity cannot now be questioned. This conveyance does not properly operate, unless there is either an actual entry, or a lease with a valuable consideration, as a bargain and sale for a year. LEATHER, the skin of several sorts of beasts dressed and prepared for the use of the various manufacturers, whose business it is to make them up. The butcher and others, who flay off their hides or skin, dispose of them raw or salted to the tanner and tawyer, and they to the shamoy, morocco, and other kind of leather-dressers, who prepare them according to their respective arts, in order to dispose of them among the curriers, glovers, harness-makers, coach-makers, saddlers, breeches-makers, gilt leather-makers, chair-makers, shoe-makers, book-binders, and all in any way concerned in the article of leather.

The three principal assortments of leather are tanned or tawed, and oil and alumleather; and it may be affirmed, with great ruth, that the skins of our own production, and those imported from our colonies, when dressed in this kingdom, make the best leather in the world, and that therefore this is an article of great importance to the trade of the nation.

Though there is no little difference between the dressing of shamoy-leather, alumleather, Hungary leather, Morocco leather, parchment, and tanning; yet the skins which pass through the hands of these several workmen, ought to have been for the most part, at least, washed clean from blood and impurities in a running water; set to drain, worked with the hands, or pounded with wooden pestles in a vat; put into the pit (which is a hole lined either with wood, or with stone and mortar) filled with water in which quick-lime is dissolved, in order to loosen the hair, that it may be easily rubbed off without injuring the skin; drawn out, and set to drain on the edge of the pit;

stretched on the leg or horse, in order to have the hair scraped off with a blunt iron knife, or wooden cylinder: the membranes on the fleshy side, and the scabs or roughness on the grain side, pared off with a sharp knife, and the skins rubbed with a whetstone, to take off any particles of the lime, or any thing else that may occasion hardness; thickened by different sorts of powder, whereby they become greater in bulk, and so much lighter, as gradually to rise to the surface of the water; stretched out green or half dried, and piled one over another; or put up separate after they are dried, and hung out to air upon poles, lines, or any other way: which must be repeatedly done in the dressing of small skins. This alternate transition from the liquid of the air into that of water, and from water into the air, with the assistance of lime, salts, and oils, opens the inmost fibres of the skin so effectually, as greatly to facilitate the introduction of substances proper for making them pliant without rendering them thin

ner.

The alun-leather dresser dresses all sorts of white leather, from the ox-hide to the lamb-skin; for dressing the saddler's leather, he uses bran, sea-salt, and alum; and for that which the glover uses, after the common preparatives, he first employs bran, and then with salt, alum, fine flour, and yolks of eggs mixed in hot water, he makes a sort of pap, with which the skins are smeared in a trough: The shamoy leatherdresser soaks in oil, not only the skins of the true shamoy, which is a wild goat, but likewise those of all other goats. The tanner uses the bark of young oaks ground in a tanning mill, in which he soaks the skins more or less, according to the different services expected from them, their chief use being to remain firm and keep out water. In certain cases, instead of tan, he uses. redon, which is chiefly used for tanning ram, sheep-skins, and dressing Russia leather. But for the different methods in which the tanner, currier, Russia, and Morocco leather-dressers proceed in finishing their skins, see CURRYING, TANNING, &c.

LEAVEN. See BREAD.

LECHEA, in botany, so named from John Leche, professor at Aboa, in Sweden, a genus of the Triandria Trigynia class and order. Natural order of Caryophyllei. Essential character: calyx three-leaved; petals three, linear; capsule three-celled, threevalved, with as many internal ones; seeds solitary. There are three species, natives