Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-09-11

of bankruptcy throughout the United
States.
Be ii enacted by the Senate and House of
Representatives Of the United States of
America an Congress assembled, That
there be, and hereby is, established through
out the United States a uniform system
of bankruptcy, as follows: All persons
whatsoever, residing in any State, District,
or Territory of the United States, owing
debts. which shall not have been created
in consequence of defalcaton as public
officer, or as executor, administrator, guar
dian, or trustee, or while acting in any
other fduciary capacity, who shall, by pc
tition, setting forth, to the best Of his
knowledge and belief, list of his or their
creditors, their respective places of resi-
dence, and the amount due to EACH to-
gether with an accurate inventory of his
or their property, rights, and credits, of
every name, kind, and description, and the
location and situation of each and every
parcel and portion thereof, verified by OATH
or, if conscientiously scrupulous of taking
an OATH by solemn affirmation, apply to the
proper court as hereinafter mentioned. for
the benefit of this act, and therein declare
lllcIllSclNtS W NC W meet lilclT uCDlS
and engagements. shall be deemed bankrupts
within the purvew of this act, and may be
so declared accordingly by decree of such
court. All persons, being merchants, or
using the trade of merchandise, all retail
ers of merchandise, and all bankers, fac
tors. brokers, underwriters, or marine in
surcrs, owing debts to the amount of not
less than two thousand dollars, shall be
| liable to become bankrupts within the true
intent and meaning of this act, and may.
upon the petition of one or more Of their
creditors, to whom they owe debts amount
ing in the whole TO not less than five hun
bred dollars, to the appropriate court, be
so declared accordingly, in the following
cases, to wit: whenever such person, being
merchant, or actually using the trade of
merchandise, or being retailer of mer-
chandse, or being banker, factor, broker,
underwater, or marine insurer shall de-
nart from the State. District, or Territory
of which he is an inhabitant. with intent
to def'aud his creditors or shall conceal
himself to avoid being arrested; or shall
willingly or fraudulcntly procure himself
to be arrested, or his goods and chattels
lands, or tenements, to be attached, dis
trained, sequestered, or taken in execution
or shall remove his goods, chattcls, and
effects, or conceal them to prevent thell
being levied upon, or taken in execution
or by other process; or make any traudu
lent conveyance, assignment, sale, gift, OF
other transfer of his lands, tenements
goods, or chattels, credits, or evidences OF
debt: Provided, hoWever, That any person
so declared a bankrupt at the instance o.
a creditor, may, at his election, by petition
to such court within ten days after its de
cree, be entitled to trial by jury before
such court to ascertain the fact of sucl
bankruptcy; or if such person shall reside
at great distance from the place of hold
ing such court. the said Judge, in his dis
erection, may direct such trial by jury t.
be had in the county of such persons resi-
dence, in such manner and under such dI
rections as the said court may prescrlb
and give; and all such DEGREES passed b!
such court, and not so re-examined, shall
be deemed final and conclusive as TO tin
subiect.matter thereof.
Sec. 2. And be 1t further enacted, Tha
all future payments. securities, conveyan
ces, or transfers Of property. or agree
ments made or given by any bankrupt i
f contemplation of bankruptcy, and for tn
purpose of giving any creditor, cndorsel
surety. or other person any preference o
f priority over the general creditors of sue
bankrupt; and all other payments, sccur
t ties, conveyances, or transfers Of propert
or agreements made or given by sue
? bankrupt in contemplation of bankruptc,
to any person or persons whatever, N
! being a bona tide creditor or purchaser ft
a valuable consideration, without motto
= shall be deemed utterly void, and frau
t upon this act and the assignee under tn
j.. bankruptcy shall be entitled to claim. ST
T. for. recover, and receive the same as pa
$ of the assets of the bankruptcy; and ii
n person making such unlawful preference,
# and payments shall receive no diScharG
r. under the provisions of this act: PrCr'dc
n That all dealings and transactions by al
d with any bankrupt, bona fde made al
IF entered into more than two months befo
., the petition filed against him, or by hi
,, shall not be invalidated or affected by Il
q. act: Provided, That the other party to al
n such dealings or transactions had no n
o. tice of prior act of bankruptcy, or
i'd the intention Of the bankrupt TO take t
If benefit of this act. And in case it sh
d. be made to appear to the court in t
T. course of the proceedings in bankrupt
Of that the bankrupt, his application bel
" voluntary, has, subsequent to the first i
n. of January last, or at any other time,
m contemplation of the passage of bankrt
~ law, by assignments or otherwise, given
e. secured any preference TO one credi