The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1841-09-11

sons owing debts, who shall by petition, +
setting forth list of his or their creit-
ors, the amount due each, together with
an inventory of his or their property of
any kind, verified by oath, apply to the
proper court for the benefit of this act
snail be deemed banKrupts, and may be
declared so by decree of such court.
All persons being merchants or retailers
OF merchandise, all bankers, factors,
brokers, underwriters or Marine insur-
ers, owing debts to the amount of not
less than $4,000, shall be liable to be-
come bankrupts, and may upon petition
OF one or more of their creditors to whom
they owe not less than $500, be so de-
Glazed in the following cases, to wit:
whenever such debtor shall depart the
State of which he is an inhabitant, with
intent to defraud his creditors; or shall
procure himself to be arrested or have
his goods, &c, taken in execution; or
shall remove his goods, &C., or conceal
them, to prevent their being levied on;
or make any fraudulent assignment
or sale of his lands, goods, &c
Provided however any person so declar-
ed bankrupt at the instance of cred
itor, may by petition to such court have a
trial by jury to ascertain the fact of
such bankruptcy.
{ Section 2. Enacts that all future pay
ments, conveyances &c, made in con-
temptation of bankruptcy, or for the
purpose Of giving any creditor, an un-
. due preference, or any such payment or
f conveyance to any person not "a creditor,
o for a valuable consideration, without no
e,shall be deemed void aland fraud up
:, on this act, and the assignee under The
I bankruptcy shall be entitled to claim and
: sue for the same; and the person max
= ing such unlawful preferences shall re
ceive no discharge. And if it shall bt
y made to appear to the court, that, in the
6 case of voluntary bankrupt he has a
:. any time given or secured preference o
one creditor over another, in contempla
: ton of the passage of bankrupt law
;, he shall not receive discharge, unles
= assented to by majority in interest o
= those of his creditors not Preferred
" Nothing in this act shall in any way i'm
y pair the rights Of married women or mi
- nors, or any liens, mortgages, &c, whic
;" may be valid by the laws of the State
=, respectively, and not inconsistent wit
~ the secon and fifth sections of this &C
= Section 3. All property of every de
scription, Of every person declared
es bankrupt, except as is hereinafter pre-
u vided, shall be ipso facto Invested out {
$. the bankrupt, and the same shall b
> vested in such assignee as shall be al
% pointed by the court; suits pending b
OF the bankrupt shall be continued by tn
d assignee, and no suit by or against a
of assignee shall abate by the death of sal
- assignee. There shall be excepted fro
the provisions of this section, such n
cessary household and kitchen furnitul
r of the bankrupt, as the assignee sha
vi designate, having reference in Il
nc amount to the family and condition oft
\" bankrupt, but in no case to exceed
uo value $500, also the necessary wearir
10, apparel; on exception being taken to Il
III determination of the assignee, the m;
n7 ter to be decided by the court.
Section 4. Every bankrupt who sh'
comply faithfully with the provisions
this act shall (unless majority in nu
Der and value Of his creditors who ha
proved their debts, shall file their VIZ
ten dissent thereto) be entitled to Fl
discharge from all his debts, and CT
tificate thereof granted him; such CT
tifcate, however, not to be granted |
til after ninety days from the decree
bankruptcy, nor until seventy days l
tice is given to all creditors and perso
interested to appear and show cause W
such certificate should not be granted
Such bankrupt shall at all times be 81
iect TO examination orally, or upon WI
ten interrogatories, before such cou
on oath, in all matters relating to 81
bankruptcy, which are necessary for
purposes of jnstice. If in any case
er, bankruptcy, majority in number &
value of the creditors who shall hi
proved their debts, shall at the time
'dlt' hearing of the petition for discharge,
their written dissent to the allowance
discharge and certificate, to 81
bankrupt, or if, upon such hearing
lg, discharge shall not be decreed to b
he may demand a trial by jury, upo
proper issue to be directed by the CO.
or he may appeal from that decision
the Circuit Court. And if,upon full h
ing, it shall be found by the court or
Jury, that the bankrupt has in all thi
complied with the acquisitions of
act, the Court shall decree his
|, charge.
Section 5. Creditors coming in
/. proving their debts, in the manner b
matter prescribed, shall be paid pro r
and no priority or preference shall