Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1842-03-02
no. s..
From the Saranznh Republieaa.
THE BANKRUPT Law.

rupT in The discharge under the provisions
ofrhe Bankrupt Law, WHICH went into ef.
: feet on the Ist nsr., is rcpublishcd from ,hs
Republican of Nov. 9Ih. IL will be of ser.
vice az matter Of reference not only 10
those who wished 10 take advantage OF the
\ law. but also 10 our legal irionds:.
/. An inventory nua' be areluIly pro-
pared. containg an accurate statement. ac
cor ling 10 the best Of she bankrupt's know.
~ dgc and belief, Of his creditors, their pla.
, crs Of residence, and the amount duo TO
each; also IN accurate inventory Of the
bankrupl's property, rights and credits Of
very kind, and The location and station
the eof. and every part Of il. The petition
embodying this statement, and declara-
lioD OF the bankrupt's inability to pay his
debts, must then be drawn ani verified by
The oath Of the bankrupt, 70 be ,sken be-
fore district judge Of the United States,
or before commissioners appointed by tho
court for that purpose. or bcior. disin,er-
cs cd state judge where tho debtor lives
(Sec. ~ This petition may rhen be pre-.
sen'ed to'he district court Of the dis,ricr
where the bankrup, resides at any time.
Sec. l, 6.
III. On This petition being presented 10 tho
court, The court will lhercupon order hear
Ing IS directed ie Sec. z, aud notice there.
upon tobe published by the debtor in one o.
more newspaperst To be designated by the
court, which notice must be published a.
least twenty duys before the hearing; and
the notice must slate the time aud place OF
the hearings. and all persons arc thereby
notified. and may appear aud show cause.
ifany they have. why the prayer Of tho
petitioner should not be granted.
This hearing is TO be before the court.
and is to be upon the testimony OF oa,f, or
afiirmation-and where the testimony 10
written. the depusirions must be taken be-
FIRE district judge, commissioner or dis
interested State Judge. (Sec. ~ Tho
bankrupt should be prepared 10 attend THE
hearing will, his counsel.
This is preliminary hearing.
III. Uaon the order or rdecree Of bank
ruptcy following the hearing the debtor,
becomes absolutely divested Of his proper.
"; assignees are Immediately appointed
" 'uc S"u't w oiun'' aHu di uc pTUptEs
IA. az sh. hAhfnr-i.- -rnsind in-iha Lassio naA.
the nc, for creditors naming any Of the as.
sienees. But tho court will exercise pro.
per discretion on this subject.
w. The ussienecs having been appoint.
cd by the court Immediately after the de-
cree Of bankruptcy following The hearing.
i, is their duty, to proceed al once 10 take
proof of debts, and 10 reduce The property
Of the debtor 20 money; and declare div
idcnd so rs 10 have speedy settlement Of
the hankrup,'s estate as required in Sec.
Z. The bankrupt in the mean lime must
at nil times hold himself in readiness for
examination under oath touching bis pro-
per'y aud debts, before the court and as
sisnccs. The courts are 10 prcacribc rules
aud regulations "a 10 tho proving Of debts
before the as,ignecs.
V. The bankrup, having made full
surrender Of his property. and having
compiled with such orders and rules Of
court os have been prescribed. aud the ns.
signecs having discharged their duties and
closed the estate. the bankrupt must then
give public notice in some public newspa-
per, designated by the court. to all crcdi-
tors who have proved their debts. aud
other persons interested 10 appear aud show
cause WHY the bankrupt shnuld not receive
his discharge aud a certificate thereof
Which notice must be published az least
seventy days before the time Of final hcar-
icg.
The cour, in certain cases may drcce
personal service Of the notice.
Aiier the expiration Of ninety days from
decree ofbankrup,cy, and after the publica-
lion ofrhc notice, and compliance with the
other provi, ions first men,ioncd-if upon
the final hearing no sufficient charge be
shown against the discharge. nnd n major
i,y in number and value of The creditors
who have proved their debts do mol object
To il by written ,lisscn,-and upon peti.
,inn for the discharge, duly presented for
that purpose, the court will gran. full
discharge Of the bankrupt from all his
debts-and grant n certificate thereof, and
the seal Of the court, which will be valid
apaiusr all suits aud claims against tho
bankrupt up to the time Of his bankruptcy.
( VI. Al the hearing las, mentioned; Ihe
conr, before whom j, is bad, may. If they
arc of The opinion that the bankrupt has
no, complied With the terms Of the act, or
bccn guilty of any fraud. or if a majority
in number and value o. the creditors who
had proved their debts. file written dis
sen, 10 the discharge. refuse Q discharge
md certificates: in which event the bunk
rup, may. if he thinks proper, demand a
trial fihe facts before n jury, or appeal
from the decision oi'rhc district court. Tha
nppcal is 10 he 'ried az the next circuit
cour, hereafter TO be held either by the
cour, or before a jury atthe debtors option.
The forms WHICH here follow are given
for the purpose chiefly of making more IN
,ellieiblr ,he mode of proceeding in order
no brins party before the court. under tho
/ act. TIE district conrss viii prescribe the
precise forms to be used 10 bring a party
d-hefare the coufi, and for tho subsequent
sleps 10 the final discharge of tho bank.
I rupt; and ihis duly required Of tiisgi by
the acf, renders il u1Ieseasary - welt ~