Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1842-01-08
RANKRUET LAW.

in obtaining his discharge under the pro-
visions Of the present act,
!. An inventory must be carefully pre-
pared, containing an accurate statement,
according to thea best Of the bankruprs
knowledge and Belief, of his creditors,
their places OF residence, and the amount
due to each, also am accurate inventory
Of the bankrupts property, rights and
situation thereof, \ Of every part of
it. The petition somewhat bodyng this
statement, and declaration Of the bank
rupt's inability to pay his debts, must
then be drawn and 1rfied by the oath OF
the bankrupt, to be sS.scn be fore district
Judge Of the United States, or before
commissioner appointed by the court tor
that purpose, or before disinterested
state Judge where the debtor lives. [Sec
n This petition may then be presented
TO the district court ofthe district where
The bankrupt resides, at any time. Sec
l. 6.
IL. On this petition being presented
to the court, the court will thereon offer
hearing, as directed in section 7, and
notice is thereupon to be published by the
debtor in one or more newspapers prln-
ted in the district where the debtor re-
sides; such paper or papers to be desg-
mated by the court, which notice must ne
nubIished at least twenty days before the
| hearing; and the notice must state the
time and place of hearing, and all persons
are thereby notified, and may appear and
show cause, if any they have, why the
PRAYER Of the petition should not be gran
ted.
III hearing is TO be before the court.
and is to b; upon testimony under oath OF
affirmation-and where the Testimony is
written, the dcpositlons must be taken be
fore district Judge, commissioner or dis
interested state Judge, lSec; ~ The
bankrupt should DO prepared to altenl
this hearing with the counsel.
III. Upon the order or decree o
bankruptcy following the hearing, the
debtor becomes absolutely Invested 0
his property; assignees are immedlatel!
: appointed by the court by order, and a.
\ tic property Of the debtor is vested !
: the assignees SO appointed. Provlslo
$ is not made in the act for creditors nan
n ing any Of the assignees, but the coa
= will exercise proper discretion on tn
: subject.
Nv. Assignees having been appolntt
oy the court iulaeuiatciy after the q
cree of bankruptcy following the hearini
il is their duty to proceed at once
take proof of debts, and TO reduce II
property, &c. of the debtor to money
q and declare a dividend or dividends, SO
i. to have as peedy settlement of the banl
e runt's estate as revised in Sec. II. in
t. bankrupt in the mean time must at a
j. times hold himsefin readiness for exam
IS nation under oath touching his properl
nj and debts, both before the court Gand a
:. sipnees. The courts are to prescr't
Y. rules and regulations a. TO the proving
debts before the assignoes.
V. The bankrupt having made a III
surrender of his property, and ha'ln
complied with such orders and rules
court as have been Subscribed, and u
assgnces having discharged their du'l'
and closed the estate, the bankrupt mu
then give public notice in some pub'
newspaper designated by the court, 10
ID creditors who proved their debts, al
re other persons interested, 10 appear al
Or show cause why the bankrupt should D
: receive his discharge and a cert,ilca
y thereof. Whichnotice must be Publ'sh(
Il at least seventy days before the time
a the final hearing. -.
no The court in certain cases may are
is personal service of the notice,
le vi. After the expiration OF nine
Is DAYS from the decree of bankruptcy, o.
in the publication of the notice and comp
OF ance with the other provisions first. me
a tioned-if upon the final hearing no SUI
a. Gent causes to be shown against the d
charge, and majority in number a
Id value of the creditors who have pro-,
r. their debts do not object to a written
he sent-and upon petition for the dlschars
duly presented for that purpose, the COZ
will grant a full discharge OF the Dar
5 rupt from all his debts--and grant .
tiGcate thereof, under the seal OF
an court. which will be valid against all su
he and claims against the bankrupt up TOT
he time Of his bankruptcy.
70 VII. Atthe hearing last mentIonf
ms Tho court before whom it is had, may
TO they arc Of the opinion that the bankrl
av' has no, complied with the terms OF
st, net. or been guilty Of any fraud, or
ted majority 10 number and the value Of
or creditors who have proved their debts.
written dissent to tho discharge rel IL,
+, discharge and certificate y wh
event the bankrupt may, ifhe thinks I ! p, Pr
Prs. !, demand trial of the facts beior
inv or appeal from the'dec,slon Of
: 5gisIriet to the circuit court The app
e 70 be tried at the next circuit co
:, hereafter to be held clthe, by me 60
inc !. or before a jury at the debtors 0p''
W. 49,. c.-n.s IN hn uepd