Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-09-04
BY AUTHORITY.
LAWS OF THE UNITED STATES
rAssED TIE 27ru CoXGkEss-
GprBLIc.-No. 6 |

PrHLIc-No 6
AN ACTto establish uniform system of Bank ruPtc.
throughout the United States
BE 1t enacted BY tie Senate and House Of Representative
Of the U.ited Stcs If .inertca Congress assembled
There be, and hereby ~ established throughout the t. 3
uniform of bankruptcy follows All persons what
soever, residing any State District Territory of th
United States owing debts winch shall not nave been crea
ted in consequence of def1raton public officer
administrator, guardian while act.
other hducary capacity, who shall, Ivy petition,
setting forth, the best of his knowledge and belief list
of his their creditors, their respective places of residence
the amount die together an accurate
seniory of his their property rights md credits of every
name, kind and descrp and The location and situation
OF each and every parcel and portion thereof verified by
oath, IL conscanouy scupuo1 of taking oath by
solemn affirmation, apply the proper heTeina fte
mentioned for the benefit Of this act and therein declare
themselves unable their debts and engage
nents, shall be deemed bankruptcy within the
this act, and NAV be so declared accordingly by decree Of
such All persons, being merchants, usng the
trade of merchandise, all retailers of merchandise and all
bankers, factors, brokers, underwriters marine
debts less than thousand
dolarss shall be liable become bankrupts within the
true meaning Of this Act and may, upon petition Of
Of their itors. whom they debts
mounting IA INC "h"e 70 no. less tan I'VE hundred dollars
to 'he appropriate conr be declared rdns, in the
following to wiz whenever such person, being
merchant or actually usns the trade Of merchandise, be-
ing retailer of merchandise, being banker, factor,
broker underwater, marine insurers shall depart from tire
state DISTRICT or err tory OF winch ne is an mhabant
with the intention defraud his creditors, shall willing
" ani ifauiaenty procure himself 70 be arrested; his
goods and lands or teneents, to be attached dis
trined sequeterei, or taken in execution; shall remove
his goods hatles and effects, conceal tham peven
their being ev'ed "pnn or I1h III eNeca1o or oy olo
process; make any fraudulent conveyance, assignment
sale gift, other transfer of his lands, goods
chattic credits, eydcn of deot P0rt3et horeU
That person declared bankrupt at the instance
CREDITOR may, MS election, by petition such court
within days after its decree. be entitled 10 tria by
jury before such ascertain the fact of such bank
rupcy if such person shall reside great distance
place holding court. the said nIge his
discretion. may direct such trial by jury lie had i'll the
of such persons residence, su"h manner and
der such directions as the id court may prescribe and give
md all Inv
amined shall b. deemed fna and conclusive as to ae sub
Jectmatler thereof
securities Transfers of property or
agreements made gwen By bankrupt contempia
bankruptcy and faThc purpose of giving credit
or cndosaF, surrey or o'heF person any preference or por
general creditors OF su:h bankrupt; and all 9TH
payments securities conVeyanes, transfers OF proper
~ or aseemon made or given by such bankrupt in con-
temptation of Bankruptcy persons whatev
or not being bona hde cretor or purchaser for valuable
consideration wIih)u notte, shall he deemed utterly VOID,
and fraud upon This act aud the assignee under the bank
rupcy shall be entitled claim. for, recover and
csve the same "a part OF the assests OF the Bankruptcy and
Tho making such Unlawful preference and
shall discharge nnes the provisions of this
rortfed That all dealings and transactions by and with
bankrupt, bona ode made and entered into than
months before the petition filed against him, him,
shall iavalidated affected by Pt2ridcf
That the other party any such dealings transactions
had notice of prior of bankruptcy, of the inc-
of the bankrupt TO take the benefit of this act And
the shall be made appear the COURT
course OF the proceedings III bankruptcy that the bankrupt
his application being voluntary has Subsequent the first
OF the passage oil bankrupt law" by assignments or Other
wise, given secured preference creditor a
mother, he shall receive discharge unless the be
assented by majority interest of mis- credit
who have been preferred: .1nf prcuei, also,
That nothing this contained shall construed
to anr destroy, impair any lawful rights OF married
women minors, any Hens cages, other secu7i-
property real personal, which be valid by
the laws of the States respectively and which
consistent with the provisions OF the second and fh
tons of this
Sec. 3 Ind be IL further enacted, That all proper
~ and rights OF property. OF and aud
whether real personal Mixed every bankrupt except
as is hereinafter provided shall BY decree
proper be declared be bankrupt within this act,
shall, by operation OF law pso aco. from the Time
OF such decree b. deemed to be Invested of such bank
FoP'' without any other uc assignment or other convey
anco whatsoever; and the shall bo vested, OF
the same decree IN such assignee time shall
be appointed oE Ire proper for tbs Dupose
Of appointment AMI such court NAV exercise
at its discretion totes qlotas assignee anno,t-
ed shall be vested with all the rights, titles powers, and a
ihortes sell. and dispose same ana 10
sue Tor aud defend the same, SUBJECT 10 the orders
oas OF such Court, fully. 70 all nenS and purposes
If the vested ia might ha exercised by such
bankrupt before the ims OF his bankruptcy d-.laed
aforesaid; and all suits law III equity. then
ding, in which such bankrupt party ray be
and defended by such assignee ter final conclusion, in
he same and wiki the effect they might have
oseh by such hankrupt and no suit commenced by
gains, any assignee shall be aha;ed by his death removal
from Office but the bs defended BY
as successor III the oce Porided iorssrer, That
mere shall be excepted from OF provisions
2 MS section the household aud Kitchen
e and such other articles and ncseariss Of such bank
up as me said assignee shall 9esgaa,a and apart.
having reference, III he family, condition,
~ OF the bankrupt, bat altogether
exceed ~ value, in any case sum of three dol
a'' aso the wearing apparel cf such bankrupt. and
" ms vie and caldScn: and the determination of the
~ me mater shall, exceptions taken, be suhjec,
20 me hnal decision Of the court g
e I. 6e 'turticr enacted That every bankrup, who