The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1840-05-08
NATE or THE UNITED ST s s
April. 1910

IN SIM n ~ 1T 2 AAAA tses-9s
= APRIL ], 1870
....o.hle "a notice. lit
snd obtained leave 70 bring GO M '
Iowina BIN. which was read y les
.otbs Committee on the Judicl sf1 s.
dered % Be printed.
4 PHI IL establish uniform
L.rl-ss,,,ev thfourhout die United oIpies
- !, 1890 b tie Senate ona
of Repreaentdtipes &c ss,.sse s.s
1merica n Congress asseA.e ss..i Ae.
- ana hereby IS, established, taieo 79s7
tss limited States, uniform stem 81 eN IS IS.
1890 ss1follows .-Ah persons, RnqlspeN
.si ,aehis % the amount 8 not less s.an
49, ~ 81 who Shalt IS peIlslen
' ms 81 oath, or Il couseientieasl
Won. a9i,ns of taking an oath hy solemn sIliFu
,;on apply 10 the proper court IS hsTelnal.
-. ..s .,entioned, for the benoIil Ct bis aei
sna therein declare themselves g oe lnsol
rent. or unable to meet their debts and Ga.
',soaments. shall be deemed voluntary aank
s,,5ss within the purview Of this acl and may
he 50 declared accordingly by decree g
such court; all persons, being merchants g
usinq the trade Of MERCHANDISE. @ seelsine
their living By buying and selling and 81
bankers, factors and brokers, owing debts lo
the amount of not less than DO shaH
hayo-alroaay failed il business, Or who shall
fail in business, or stop paylaent 81 declare
themselves to be insolVenf o. unable q pay
their debts OF other engagements, may mp.
ON the petition Of one OF more 81 their cfed
;tors. to whom they owe debts Ia lha whole
not less than the sum of 10 the proper
court as hereinafter mentioned Be, 81 de-
cree thereof, declared bankrupis within this
act: Provided, hoiDeper, That any person,
so declared an involuntary bankrupt, may,
at his election, BY petition % such court
within ten days after its decree, be entitled
to trial by jury before suca courts 70 as
certain the fact Of sneh bankruptcy; or Il
such person shall reside at 4 great distance
item the place Of holding such court, tho said
sudge, in his discretion, may direct such
trial BIZ Jury to be had in the county ot such
,persoass residence, in such manner and un-
der such directions, as the said court may
prescribe and give; and all such DEGREES
passed by such court, and not 50 -exanin-
ed, shailbe deemed fnal and conclusive as
to the subject matter thereof.
SEC. 2. And be It fHrshey enacted, nat
all future payments, securities, conYeyan-
ces ortraHsfers Of property or agreements
made OF given, BY any voluntary o. lnEoln.as
tary bankrnpt,-in contemplation Of bank
ruptcy, and Of taking the benefit q TIE aci,
for the purpose Of giving any creditor, en-.
dorser, surety, or other persons any PIE 81
ence or priority over the general creditors o.
such bankrupis; and all other payments Sc.
curities, conveyances or transfers Of proper
ty. or agreements made or given to any per-
son or persons whatever, not being bona
6de creditor or purchaser, for valuable
without notice, by such bank
rupt. in contemplation Of bankruptcy and of
taking the benefit of th IS act, shall be deem
ed utterly void and a fraud upon this act;
and the assignee under the bankruptcy shall
be entitled to claim, sue for, recover, and
receive the same, as part Of the assets Of
the bankruptcy; and the person making such
unlawful preferences and payments shall re-
ceive no discharge under the provisions OF
this act.
SIC. 8. And Be Il further enacted, That
all the property and rights Of property, OF
every name and nature, and whether reals
personal or mixed, Of every voluntary and
involuntary bankrupt, who shall, by decree
Of the proper court, be declared to be
bankrupt within this act, OF duly entitled to
the benefits thereof, shall, BY mere operation
Of law, ipso facto, from the time Of such de-
cree, be deemed TO be Invested out OF such
bankrupt, without any other act, assignment
or other conveyance whatsoever; and the
same shall be vested, BY force Of the same
decree. in such assignee, as from time g
time shall be appointed By the proper conrl
for this purpose, which power Of appoint
ment and removal such court may exercise
at its discretion, totes quotes. and the az.
signee, SO appointed, shall be vested with 81
the rights, titles, powers and authorities, g
sell. manage and dispose of the same, and g
sue for and defend the same, subject 70 ths
orders and directions Of such court. as tnllJ
to all intents and purposes, as 1t the same
were vested in or might be exercised ~ sucL
bankrupt before or At the time Of his bank
ruptcy, declared as aforesaid and all suit
in law ofin equity, then pending, u which
such bankrupt IS party, may be prosecs.te'
and defended 81 such assignee g rs ma
Conclusion. in the same way, and with thl
same effect, as they might have been b
such bankrupt and no suit commenced B
or against said assignee, shall be abated 3
his death or removal from Office but the sam
NAV be prosecuted or defended by be sue
cessor IN the same Office.
SEC. A. And BE It further enacted. Iha
every voluntary and inEolunt aFy 1ankE 81
who shall bona-fide surrender al his proEs'
ty and rights Of property for the dement, s
hiscreditors, and shall fully comply .
obey all the orders and direclions Whlc
may from timo TO lime Sc pissed b 81
proper court, and shall Otherwise conlos
to al! the other acquisitions Of this aet. sha