The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-09-02
Fcgn he Bal,imnre Amet.can.

I. pa! provisions Of this Liil within sinai
compass, and 10 facilitate an examination 6
ii, we have, with some labor, prepared til.
following synopsis Of It.
ScctIou /. Enacls that uniform system
Of Bankruptcy be established throuahou
Tho IulIel Siatcs--aud that all persons
owing debts, who shall by petition, se!ilag
forth list Of bis or their creditors, tht
amount due each, together With an lHven
tory ct his or their property Of any kind
verified by oath, apply to the proper coun
Tor the bCueit Of this net, shall b. deemed
bauacupls, aad may be declared 50 by dc.
cree Of such couit. All persons LeDg mer.
chau.s ar retailers Of merchandise, al! bauk
eIs, lactara, brokers', uauer wrilers, or ma,
rae Insurers, owag debts TO tho amount OF
not less than 1000, shall be liable to te
come baahrupis, and may ugon petition Of
rae Cr more o! THEN cfoii'oTs to whom they
owe not less than $500, be so declared Ia
tie following cases, 10 VII whenever such
debtor shall depart tie stale OF which be 10
an luhabtaut with Inject 10 de!ralj his
creditors or sAull procure himself to be
arrested or have his goods, DC. taken IN
execution or shall remove h,s goods, &c.
81 conceal them, TO proven. their being lie.
wed on OF make auy fraudulent assignment
~ sale q! hls lands goods, G,c-PtovlIc5
however any person 50 debated bankrupt
at The instance Of creditor, may, by poit,
ton to such, have TRIAL BY Jury to ascer.
lin the fact Of such bankruptcy.
Section : Eaacts that all future pay.
meuts, conyeyances, &c. nude 10 coutem
platou oI bankruptcy, or fer tho purpose Of
giving any creditor an undue preference,
or auy such payment or Conveyance to any
person not a creditor, for a valuable cuu
sderatlon, without notce, Shall be deemed
void and fraud upon tbis act and the "a.
slsnee under the bankruptcy shall be eut.
tied to clam and sue for the sane and the
person making such unllwlu! preferences
shall receive no discharge. And # II shall
be made to appear TO the court that, 10
tho case Of voluntary bankrupt, he has at
any time given or secured any preference
OF one creditor over another, 10 con,empla
ton Of the passage Of bankrupt law, he
shall not receive discharge, unless assent
ed to by majority 10 interest Of those of
his creditors not prcf,rfed. Nothing in
this act shall IN any ,rIg impair the rights
of married women or minors, or any liens,
&c which NAV be valid by the
laws Of the States respectively, and not in
consistent With the second and ith sections
of this act.
Section 3. AL property Of every dcsctip.
llon, of every person declared bankrupt,
except as hereinafter provided, shall he
irso tac,o diyesled on, Of the bankrupt,
aud the Same shuli be vested in such as
signee as shnll be appointed By the Cour,
suits pending by the baukrup, shall be
continued by the assignee, and DO sg.t by
or against an assignee shall aba,e by death
Of said assignee. There shall he excepted
from the provisions Of this section, such ne
aessary household and kitchen furniture OF
the bankrupt, as the assignee shall dcslg.
nate, having reference in the amount to
The family and condition Of the bankrupt,
but 10 no case to exceed 10 value $500, and
also the necessary wearing appnrel--on
exception being taken TO the determlma
ton Of the assignee, tue matter to be dccld
I'd by tho Court
Section !. Every bankrupt, who shall
comply faithfully with the provisions Of this
lct shall iunlrss majority III number md
value Of his creditors who have proved their
Iebts, shall file their written dissent there.
o) be entitled to full discharge from all
MS debts, aud certificate thereof granted
lm--such certificate, however, not to be
granted until after ninety days from the dc.
,feo of bankruptcy, nor until seventy days
lotice Is given to all creditors aud persons
Interested, to appear and show cause why
such certificate should not DO granted
Such bankrupt shall al all times be subject
% examination orally, or upon written IN
errogatories, before such Court, on oath,
q all. matiers relating to such bankruptcy,
Which are necessary for tho purposes OF
ustice, II in any case OF Bankruptcy, q
in number and value, Of the credi
ors who shall have proved their debts, shall
!, tho time Of hearing Of tho petition for a
discharge, file their written dissent to the
allowance Of discharge and certificate to
'uch bankrupt, or If upon such hearing
discharge shall not be decrocd TO him, he !
nay demand trial by jury, upon proper
ssue to be directed by the court, or he may !
lpHeaI from that decision TO the Circuit
'our,. And if upon full hearing, it shall !
% found by the court or the jury, that the
bankrupt has in all things, compiled with |
he acquisitions Of this act, the court shall
lecree his discharge.
Section >. Creditors coming in and prov.
ug their debts in the manner hereinafter !
prescribed shall be paid, pro rata, and no
priority or preference shall be allowed, ey
,ept for debts due the United States, and |
he Iaboters in the sci vice of the bankrupt, !
when those of the latter shall not exceed !
s25. All creditors whose claims are not
lue till future day, shall have their pres
N; value ascertained and allowed,
Section g. The district court, in every |.
district, shall have jurisdiction in all mat
or and proceedings arising under this act,
he proceedings 10 be summary and the
court always to be open. Tho court 10
prescribe forms and rules for the regulation
If proceedings, and to prescribe tariff Of