Elizabeth-Town gazette. [volume] (Elizabeth-Town, N.J.) 1818-1821, 1820-04-04
STATE OF NEw-JERsEY.

ors VINO convey TO Assignees Tor the
benefit Of Creditors.
Sec. 1. Be 1T ENACTED, &c. That from
and after The iosssh day Oh .lsly nexs, eye
|ery convey ance or assignment made by a
debtor or debtors Of his, her or their es.
tates, real or personal or both, 10 trust TO
the assignee or assigDees Tor the creditors
OF such debtor or debtors, shall be made
for their equal benefit, in proportion to
their several demands TO the nett amount
thai shall come 10 the hands oil the said
assignee or assignees for distribution aud
all preferences of one creditor over an
other, or whereby any one or more shall
be FIRST paid, or have greater proportions
In respect Of his, her or their claim than
another, shall be deemed fraudulent and
void, excepting mortgage and judgment
creditors when the judgment has not been
by confession for The purpose of pIeferring
creditors.
Sec. 2. and be it enacted. That the
debtor or debtors making such assignment,
shall annex TO such assignment or convey
auce, an inventory, under oath or affrma-
lion, of his, her or their estate real and
personal, according TO the best of their
knowledge, and together with list OF his,
her or their creditors, and the amount OF
their respective claims, but that such in-
ventory shall in no wise be conclusive as
TO the quantum of the debtors estate, real
and personal, but the assignee OF assignees
shall be entitled to any other properly
which may belong TO the debtor or debtors
at the lime of making the assignment, and
comprehended within the general terms of
the same.
Sec. 8. And be 1T enacted, That the said
assignee or assignees shall for the term oil
thirty days from the date OF said assign
ment, give public notice by advertising 10
two oil the newspapers printed i'll this state,
circulating ID the neiehbourhood where
such creditors reside, aud in one or more
newspapers in any other state, where ii
shall be known any creditor Of the sail
assignee resides, making known thereby
that such assignment has been made, and
that they make their claims under oath or
affirmation. AT the end OF said thirty days,
the said assignee or assignees shall exhibit
TO the surrogate Of the county wherein
such debtor or debtors reside, under oath
or affirmation, asfrue iDEeptory. and valu.
Fation OF said estate, as far as has come to
his or their knowledge, and then and there
enter into bond 10 the Governor of this
state for the time being, in double the
amount Of the inventory and valuation,
with sufficient security, for the faithful
performance of said trust, and the said
assignee or assignees may then proceed to
sell said estate, and perform every other
duty necessary TO carry into effect the
intention Of said assignment, SO far as re-
spects the collection of debts, aud sale oil
real or personal estate, and the bond shall
be filed ia the Surrogate's office.
Sec. a. Ind be it enacted, That after
the said assignee or assignees shall have
given bond as aforesaid for the faithful
performance of said trust, the Surrogate
shall endorse the receipt Of said bond on
the deed OF assignment, after which en-
dorsement, the clerk of the county shall
record the same, having been first &C.
knowledged or proved according TO law.
Sec. 5. Ind be ii enacted, That at the
expiration of six months from The date Of
said assignment, the said assignee or as
signees shall file with the clerk OF the
Court Of Common Pleas of the county
wherein such debtor or debtors resided at
the time of making such assignment, a
true list under oath or affirmation. OF all
such creditors of said debtors as shall
claim to be such, with true statement Of
their respective claims, having first adj.
vertised for six weeks next preceding the
end of said term, 10 two of the newspa.
pers printed in this state, and by putting
up advertisements in five of the most pub.
lie places 10 the ueighbourLood wherein
such creditors or majority Of them re-
side, making known thereby that all claims
against said estate must be made as herein
after prescribed, or be for ever barred
from coming 10 for dividend Of said es-
tate, otherwise than hereinafter provided.
Sec. 6. And be it enacted, That it shall
be lawful for the assignee or assignees, or
any creditor, or other person interested,
by himself or attorney to appear at the
next term Of the said Court Of Common
Pleas, and file exceptions to the claim or
demand Of any creditor exhibited as afore-
said, and said court shall cause notice
to be served on said creditor, at least four
weeks preceding the next term, aud shall
hen proceed to hear the proofs and allie.
satioos in the premises, in the same or
any subsequent term, as may be expedient
allowing the parties right to have the
said controversy settled by jury.
Sec. z. Ind be ii enacted, That at the
first term of said court, succeeding the