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In the
absence of a contract or local usage to the contrary, all rents annuities, pensions, dividends and other
periodical payments in the nature of income shall, upon the transfer of the interest of the person entitled to
receive such payments, be deemed, as between the transferor and the transferee, to accrue due from day to
day, and to be apportion able accordingly, but to be payable on the days appointed for the payment
thereof.
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