Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1841-09-21
OUTLINE OF THE BANKRUPT LAW.


Cuence ri defflcation as public officer, or as exc
ca;or administration, guard an. or trustee. or wh e
acting I'D Hauc'eFy caHar.ty who shall be eHaaied
10 meet thelr engagements, may become voluntary
hlasrapts.
80 an iar9faefary Baakrup9 81 persons
buying aa1 selling articles IS mer-aana sc, a oaah-
cfs. il tors brokers. underwriters % marine nsar-
cr-. oe5ag BOT Jess taan two Thousand deilsss. shall
ae l5s 10 become ban@sugted u TIE instance o
creditors
l. ,rtafctses2 Waencver any such person shall
leave Tie ~f4le. ierrLosy. or Dsrct oi their resi-
lcHre q5tl intent 70 dsirsua hs creditors. o. s.tf
a..aa.- IS ~ isladaieatiy esgse himself t. 5e arrest
~ however BE- saal procure at. process ~ lass r.
.a.a ls real ef personal estate, or snail rcmase,
conceal, er convey any PERSONAL property - ttpa
process al law. be B. liable - BE- made bankrupt
tf5.e ascg q afIa become rotuf4rv BgakrHpf
lne Doctor l4ust declare py petition, on o4h or az
f.at.oa. u,s inability % meet his eng egsmeats
~ tire same time mentioning each creditor. las
siaence. the amount tae Aim, together wfh an ae-
caraie nteatofy .. BIS property OF every name. knd
desc sffou, and tie s.tlatIoa OF the same. This
proceeding sh4.i b. had IN tAe Court ol the Dstrc,
where the Debtor res ecs, which Court has jirslc-
ton oil ali cases Wafch can arise under tbs Act
Twenty days notice Of tins petition must 81 pub
l.-hcd ia some newspaper WITHIN the District thar
49, Interested persons may appear and sheW cause.
j a.y taey nave, Why tie decree should not be
granted.
il,e maie !gr4itqfrp Etalrsnsg Persons r.
cree 10 any orc 81 the cases above mentioned. az
~ the petition of one or more creditors whose clam
% ciaims not less than i.e hundred dollars
fl.lr fred- Any person, - declared bankrupt.
may "itaH Ten Gays thereafter petltl7n The Court
far trial 81 te TACT ei aoi.,rp toy jury other
Nise TIE decree Wll 81 deemed i1al ami uc.esiye
Consequences ere De1eEof BaL.Hpiey s-t'row
Tie tiae 81 the decree. as tie property aal rights
Of property ot every l.faa tet8m' - ONCE CIvet ted
out Oh such bankrupt. and vested n 80 i ass 1.ee
81. Ef.arr. t...r
con. -,cly and eatfeY. rs they we're previously
possessed ay TIE bankrupt, ana the sa,d ASS gnee
may appear "a all legal proceedings respecting iae
same. rs tae bankrupt eeaid.
P.ogefy orcfpsd-Ihc bankrupt may retain
Gre wearing apparel o. himself, wife and ei ren
and -ueA necessary articles the yaec sia Dr.
gaatc having reference To the family, caadto-
and cirerust.siecs oI g.e bankrupt tat lot fo cx-
coed toe sam # three aaaascf d.lars.
Nes als1esf9r n dfschar~ce y ~ HtekraIf
saa.g- :. 10 caniemp.a. 20 % bankruptcy, mahe-
any disposition ri pr geriy or agreeineat 20 egusr %
eAe tfy creditor or class Of creditors preference.
~ VITA aay persoa r9t b4na-64e creditor. or par
chaser igr saiantle Considerations IT, same IS ut
tery vod and fraud uaau tais Act, and incapaei-
tafea him from receiving discharge under the Act
al bone Hde dealings. however, maac two months
previous u tle petton. are lot acccd, # tie other
Haltg 20 such DE- a nrs 8a notice ri prior ACT %.
baEAt4fiey, ar 81 Tie iHfea,iaa % become bank
~ . uaaef tals Act. Neither can bankrupt re-
ceite discharge ii he a-s, subsequent - january
ist. =, or at any tine, 10 contemplation 81 the
passage ~ ,as la~ given of secured. by gnment
otuegwl.s atg preference - one cseoit over
another, unless IA lr.ty u a.terest o. The crcai
tors nos preferred, assent thereto.
lrt4er requisite il.at t.c bankrupt shall bona
ide surrender nh hs property and gifts ot proper
~. with te cNceFtiea +63ye mentioned. for the be-
nedt ms cred fHss slaI obey all TIE orders and d-
TIE rerto passed hg tie Court, and comply With ali
acquisitions * toe Aet, % eatte Aln to els harge.