Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-07-14

To establish a System of Bankruptcy i
throughout the United States. s
Be "a enacted By the Senate ana
House of Representatives. Of tie Un'fed I
States of america, IN Congress assem-
blcd, That there be, and hereby IS es-
tablished, throughout the U. States
uniform system Of bankruptcy, as loi-
lows: All persons, whatsoever, resi-
ding in any State, District, or Terri
tory, of the United Statest owing Deus
who shall, by petition, setting forth. to
the best of his knowledge and beliei'
a list of his or their creditors, their re-
spective places of residence, ana the
amount due to each; together with an
accurate inventory of his or their prop
erty, rights, and credits, OF every name
kind and description, and the location
and situation of each aud every parcel,
and portion thereof, verified by oath,
or, if conscientiously scrupulous oil
taking an oath, by solemn affirmation
apply to the proper court, as herelnai-
ter mentioned, for the benefit OF TINS
act, and therein declare themselves to
: 10 be unable to meet their dues and
i engagements, shall be deemed bank
: rupts within the purview oil this act
), and may be so declared, accordingly,
c by decree of such court; all persons
e being merchants, or using the trade oil
It merchandise, all retailers of merchan-
disc, and all bankers, factors, brokers,
underwriters, or marine insurers, ow-
s ing debts to the amount of not less
n than two thousand dollars, shall be la
h BILE to become bankrupts within the
te purview of this act, and may be so de-
: clared accordingly, by decree ofsuch
4 court; all persons being merchants, OIL
using the trade of merchandise, all re-
tailers of merchandise, and all bankers
., factors, brokers, underwriters, or ma
"a rine insurers, owing debts TO the amour
III of not less than two thousand dollars
re shall be liable to become bankrupt
IN within the true intent and meaning o
IN this act, and may, upon the petition @
We one or more of their creditors, 20 whom
re they owe debts, amounting in the az
gregate to not less than five hundre
dollars, to the appropriate court, be S
10, declared accordingly, in the followin
ID. cases, TO wit; whenever such person
re being a merchant, or actually using tn
id trade Of merchandise, or being retail
IL err Of merchandise, or being banker
nc factor, broker, underwater, or marin
a. insurer, shall depart from the State
- District, or Territory, of which he
" an inhabitant, with intent to defrau
his creditors, or shall willingly, {
~ fraudenlly procure himself to be arrel
lat ted, or his goods and cbattels, land
'te or tenements, TO be attached, distralne
ION sequestered, or taken in execution, {
H. shall remove his goods, chattels, an
"a effects, or conceal them TO prevent the
is being levied upon, or taken in exec,
in ton, or by other process, or make al
es. fraudulent conveyance, assignmer
IAN sale, gift, or other transfer of his land
% tenements, goods, or chattels, or eV
dences Of debt: Provided, howeve
80 That any person, so declared ban
rupt, al the instance of creditor, ma
,ss at his election, by petition to SUI
- court within ten days after its deere
49,. be entitled to trial by jury befo
- such court, to ascertain the fact
vi such bankruptcy; or if any such pers
ose shall reside at a great distance from t
VIII place of holding such court, the sa
IN Judge, in his discretion, may dire
We such trial by jury to be had in t
few county of such persons residence,
such manner, and under such dire
tons, as the said court may prescri
over and give; and all such DEGREES pass
who by such court, and not so re-examin
did shall be deemed final and conclusi
over as to the subject matter thereof
now Sec. 2. Ind be 1t further enact
an; and That all future payments, securiti
, ~ conveyances, or transfers of proper
,ob,3 or agreements made or given, by a
bankrupt now in contemplation
bankruptcy, and for the purpose of G
Sen ing any creditor, endorser, surety,
e, is other person, any preference or pri
sage ity over the general creditors of ST
lie" bankrupts; and all other payments,
curities, conveyances or transfers
30 property, or agreements made or gi'
made by such bankrupt in contemplation
the bankruptcy, to any person or pers
sum whatever, not being bona-fde ere
tor or purchaser, for valuable CO..
their deration, without notice, shall be de-
,bov ed utterly void, and fraud upon
e.. act, and the assignee under the ba
, luptcy shall be entitled to claim,
Nc - for, recover. and receive the same
y no part of the assets of the bankru
!. and the person making such unlay
j - preferences and payments shall rec
: - no discharge under the provision
y .ne this act:
MI Provided, That all dealings
nven- transactions by and with any bankr
Sc to bona fide made and entered into n
) well than two months before the peti
are, fled against him, or by him shall
rant" be invalidated or affected by this
tbev ProDided. That the other Marty