The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1841-09-10
THE WAIG Il REGISTER.
Tern1s- @ ID AdVasce.

Terms SIS i'm Advance.
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or Below will be found synopsis Of the
Bankrupt Bill. which IS now The law Of the
lard. and Is to take effect on the frst day
Iof FEBRUARY next.
The Bankrupt Bill.
For the purpose of bringing The principal
provisions Of This BIZ within a small COM
pass, and TO facilitate an examination Of II.
we have, with some labor, prepared The fol-
lowing synopsis of it. This Bill, it will be
recollected, passed the Senate some time
since, and has not yet been gcted on in the
House Verbal accounts are unfayorable TO
its receiving the auenton OF the latter
branch OF Congress at IFS present session:
these accounts are rebutied BY a vote upon
The motion to lay a resolution f,om The com
lmittee on the judiciary. declaring it mex
pedient to act upon tins subject this session,
upon the table. The vote upon tlIat motion
was llS affirmative, TO 81 negative, which
may be regarded as an evidence of dispo-
sition in the House 10 take action upon the
subject Baltimore Pat.
Section l. Enacts that uniform system
of bankruptcy shall be established through
out the United States-and that all persons
owing debts, who shall by petition, setting
forth a list of his or their creditors, the
amount due each, together with an inventory
! Of his property, of any kind, verified by oalh,
. apply to the proper court for the benefit OF
this act, shall be deemed bank1up,s, and
+ may be declared so by decree OF such
J court. All persons being merchants or re-
| iailers Of merchandise, all brokers, under-
! writer's, or marine insurers, owing debts tO
The amount of not less than $1,000, shall
! be liable to become bankrupls, and may
upon petition Uf one or more Of their cred
2 Eitors 10 whom they owe not less than $500
/ be so declared in the following cases, To vii
whenever each debtor shall depart the Stale
! Of which he is an inhabitant, with intent &
defraud his creditors; or shall procure him
) self TO be arrested or have his goods, 65e
taken in execution; or shall remove his goods
r &C., or conceal them, TO prevent their being
3 levied on: or make any fraudulent assign
ment or sale of his lands, goods, &c.-Pro
Vided, however, any person SO declared !
r bankrupt at the instance of creditor, MAY
by petition. to such court, have a trial b.
jury to ascertain the fact Of such bankruptcy
Section 9. Enacts that all future pay
: ments, conveyances, &C., made in Conlepl
plation Of bankruptcy, or Tor the purpose q
2 giving any creditor an undue preference
or any such payment or conve yanCy 10 an
person not a creditor, for valuable consid
s Grafton, without notice, shall be decme,
e void and fraud upon this act, and the as
a. signee under the bankruptcy shall be onti
II tied to claim and sue for the same; aud lhl
5 person making such unlawful preference
: shall receive no discharge. And if il shall
q be made to appear 10 the court that, in th,
81 case of voluntary bankrupt, he has at an
II time given or secured any preference Of on
q creditor over another, in contemplation {
I the passage of bankrupt law, he shall nc
l receive a discharge unless assented 10 by
Is majority in interest Of those of his creditor
q not preferred. Nothing in this act shall /
p any way impair the rights Of married womo
or minors, or any liens, mortgages, &c
~ which may be valid by The laws of The State
II respectively, and not Inconsistent with ii
e second and fifth sections oil this act.
a Section 8. All property Of every descriI
y ton, Of every person declared bankrup
TO except as is hereinafter provided, shall
ld ipsO facto Invested out of the bankrupt, ar
e the same shall be vested in such assignee
ds shall be appointed by The court-suits pen,
lr- ing by the bankrupt shall be continued
Is the assignee, and no suit by or against a
~ assignee shall abate by death ofsaid assigns
he Fhere shall be excepted by the provisions
sr- this section, such necessary household an
Kitchen furniture Of The bankrupt as The q
ve signee shall designate, having reference
IL The amount TO The family and condition
N, the bankrupt, but in no case.to exceed
Ivalue $500, and also the necessary Wearii
Eapparei- exception Being taken 10 n
- determination 81 the assignee, the matter
s 30 decided by the court.
80 Seclion4 Every bankrupt, who shall col
- Div faithfully with the. provisions Of this !,
s.. shall (unless a majority in number and vail
of his creditors who have proved their dob
$ shall Gle their written dissent lheretO)
s. entitled 10 a InlIdischarge from al his del
+ and certificate thereof granted him -sn
- certificate, however, not TO be granted an
aftef ninety days rom The decree Of ban
= rupicy, nor nntil seventy. DAYS notice Is CIV
10 all creditors and persons interested,
appear and show cause why such certics
should mol be granted Such bankrupt 81
- Al Ell times be subject t. examination 81
III, or upon written inieFg0ga t0gies. heil
such court, % oath, ID All malleIs ali