Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1841-09-17
B A N X r U p T BILL.

cy Throughout the United States, =
BE il enacted by the Senate amt House of Repre-
sentatire gftie Ut ed States oflmerica in Congress
assembled, That there be, and hereby IT, established
throughout the United States a uniform system OF
bankruptcy as foilows:-Ai persons whatsoever. re-
siding IN any state, District, or Territory of the
United Sta &C. owing debts which shall not have besn
created N consequence of a deiscatIon as pubic
officer, or as executor administrator, guardian or
trustee, or while acting IN any other hducary capac-
ny, who sh1 by petition, setting forth TO the best OF
hs knowledge and belief a list OF his or their cred
nprs, Their respective places of residence and the
amount c TO each, together with al accurat ilven-
cory OF ms or Their property, rsnts and credit. of
every name kind, and description and the location
and situation of each and every parcel and portion
thereof verified by oath, il consclentousy scripu
lou Of taking an uah by solemn affirmation apply
10 the proper CONT, az hereinafter mentioned for the
benefit OF this act and therein declare theus Ives To
be unable 10 meet their debts and engagements shall
be denied bankrupts within hopurview of this act and
may be 81 de Jared accordingly by decree of such
court. All persons beng merchants, or using the
trade Of merchandise, all retailers of merchandise
and all bankers, factors brokers' underwriters or
marine insurers, owing debts TO the amount of not
less than two thousand dollars shall be liable TO be-
come bankrupts within the true intent e. meaning of
this act, and may, upon the petition of one or more
of their creditors to whom they owe debt, amountjnp
IN the whole 10 not lessthan five hundred dollars
10 the appropriate court, be SO declared Acc rdinry
IN the following cases. TO wit whenever such person
beng merchant, actually using the trade of ner-
chahdZe, or beng retailer OF merchandise or being
banker, factor broker underwater, or marine in
surer shall depart from the State District or Ter
rtory OF which he Is an nhabant, with intent to de-
fraud his creditors or sha conceal HIM .efto avoid
beng arrested shall willingly or fraudulcntly pro-
ure himself 10 be arrested his go I'd and chattels
lands, or tenemens, TO be attached d,ltia,ned Sc
iuesttred, or taken IN Execution shall remove he
lpois chattes, and effects or conceal them 10 pre-
vent Their being levied upon or taken in execution or
py other process make any fraudulent con veyan q
assignment, sale gift or other transfer of his lands
tenenenis goods or cha ties credits or evidences of
debt IF0rtded h0rtrer That any person 50 declared
bankrupt al the instance of a ere ltor may at his
election, by petition to such court within ten DAYS af-
ter It's decree, he entitled to trial by ~ before such
f"it', 10 ascertain the Tact OF such bankruptcy if
such person shall reside AZ great distance from the
place OF holding snch court the SAID Judge IN his de-
sr'u1n, may direct sch MIA. jury to he had in the
country oil such persons residence, IN such manner
ana under such directions as the said court may pre-
scribe and give and all auch DEGREES passed by such
court ana not so re-exanlned, shall be deemed final
and conclusive "a To the subI,ct-mat,er thereof
Sec. T. And be hfHrtter enacted Tnat all future
payments, securities coaveynnces or transfers of
property, or agreements made or given yany bank
rupt IN contemplation OF bankruptcy and for the pur-
pose of giving any creditor end rser SURETY or other
person any preference or priority over the genera
creditors of such bankrupt and all other payment
securities conveyanccs, or transfers of property or
agreements made or given by ich bankrupt in con.
temptation Of bankruptcy, 10 any person persons
Whatever not beng bona liie creditor or purchas
er for valuable consideration without notice, shall
be deemed utterly void, and fraud upon this act; and
the assignee under the bank fiptcy shall be entitled
10 clalin sue Tor, recover and receive the same as
part OF The as els of the bankruptcy and the person
| making such unlawful preferences and payments
sla receive no discharge under the provisions this
act Proridcd, That all dealings an TRANSACTIONS NV
! and with any ban rupt bon, file made and entered
into more than two moRths before the petition filed
AGAINST hlm or bv Ii y, shall not be inyaldated or
a cted by III act Prorid.d That the 1t er party
to any such dealings or Transactions Ind notice OF
n prior act ofbankruptcy or Of the intention of the
bankrupt TO take the benefit of this And in case
II shall be made to appear TO the court in the course
ofthe proceedings in bankruptcy, that the bankrupt
his npplcntlon belng voluntary, has subsequent Ia
ua hrstday OF January last, nj any other time, m
COME mpla'ion of the passaye Of bankrupt law, BY
assignments or Otherwise, given secured any pref
erehce TO one creditor over another he shall not
ceye discharge unless the same be assented to by
majority IN R,srcs, Of those Of his creditors who hs Y,