Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1861-05-24
THE STAY Law.

true copy of the bill offered by Mr. Daffield,
and which has passed both brsncbes of the
Legislature, relative 10 Judgments ani execu-
tions
SECTION l.. Be II enacted By the Ssnaie md
Hou.e of Representatives. Of The Commonwealth
of Pennsylvania IN General assembly met, and
Il is hereby eaected By the authority Of the same
That upon all Judgments now rsmaining'unsat-
isfed, or which may be obtained within six
months from the passage Of this act, there shall
be stay of execution for Que year from the
passage hereof as regards Judgments now cx-
istiDg, and from their date as regards Judgments
obtained after the date hereof. Provided that
the defendant is possessed of real estate within
the respective eounty or counties in which such
Judgmsnts shall have been obtained, or in any
other county within this Commonwealth. to
which the said judgment shall have been trans
ferred, subject TO be sold for the payment of
such judgment, worth 10 the opinion of ang
court Of any judge in vacation, or al1erma an
having jurisdiction Of such judgments, at a
fair valaation, sam safi ,lent to pay or salts
fy the same, over aud above other incunbran-
ces, aud tue amount exempted FROM levy and
sale on execution, or .eaid defendant shall give
security for the payment of the same, to be
syacatlon, or the justice or alderman before
WHOM the same was obtained or may be depend
ing, withln sixty days from tae date of the
Judgment, or from the passage of this act
which security shall consist of one or more
persons, who shall satisfy the court, Judge or
justice, by oath or affirmation. aud such other
evidence as may be required, that they are the
bona PIE owners of real or personal estate
within the county where such Judgment has
been entered, worth at tair valuation doubIe
the amount OF such Judgment, over and above
all other debts and incumbraneeS to which Sc.
cur.ty the plaintiffs may file executions as
nov provided 6g law. Aud that in all actions
now pendlng, or inetituted within twelve
months after the passage of this act, in any of
the courts of this ComnonWe alth. on notes.
bills, bonds, OF other investments, for the pay-
ment OF money, or for the recovery of book
debts, wherein the defendant or defendants of
OF any stage of the proceedings before actual
sale by the sheriff, shall have iled an affidavit
setting forth that the majority of bis or their
creditors, whose demands exceed two thirds of
bis or their entire Indebtedness, have agreed
10 writing TO extend the time of payment of
'tae aobis due them respectively, the court shalt
ulfect tue proihonot4rg to rcpor, the terms Of
the said extension, upon even evidence submit
'ei = him o3 tho defendant or defendants.
and tbereupon the court shall enter all order in
Tue cause, that no execution shall issue. exeent
at the periods Wien, and 10 the proportions
which Ii Shall appear by the report of tlIa pro.
tuonttarY OF the majority of the creditors OF tb,
deiendsnt or de!endants, whose demands sx =
coed two-thirds of his or their entire in,leh,
edness, have agreed, as aforesaid, 10 extend
the tmn st payment of the debts due them
respectively, and no person or 6rn,, bank or
broker, hoidIng cohattorais ds sannritV for debts
due or TO become due, shall withn ono ,eaf
I from the takiag effect Of lbs aet sell At npb.
iie or private sale aug sueh coiiatefals, gheth-I
eE lhe same consist of Boseage. bond. note
Or 0lher security commercial Or otherwise
and any party selling such collstera gsearitios
within such time shall become responsible far
the same at double the amount for which it was
pledged to the owber Of such collateral .7aa
pToudea further, That the provisions Of this
act shall extenl 10 Judgments entered or tn he
entered, as we'll upon tond and warreDt Of at
toruey as upon mortgages to secure the same.
aud to anT subsequent grantee or owner of the
premises 50 bound, as we'll as to the orioion,I
oolgof or mortgager, and also to all Judgments
OF debts upon which stay of execution has
been or NAY be waived by the debtor in anV
obligation or contract upon which such iudG.
meht has been or may hereafter be obtained
or py any stipulation entered into at anv time
seperate tfeln said obligation or eoptract-
ana Proflded, That nothing ia this act con-
talHed shall DC construed to stay an execution
that may be issued after the expiration of six.
" days from The passage Of this act for the
purpose OF collecting interest due, or to be-
come due, upou any judgment for auy sun, not
less than 5000, heretofore obtained but no
such execution shall be issued for less than
SIX mouths, arrearsges Of interest. Provided. |
That this act shall not apply so as to stay the /
collection OF interest On judgment entered fer |
the security Of the payment OF moneg 10 Wild |
oWs, orphans, or minors. ProU1jeG further. |
ihat 'aiS act shall not apply to any judgment
obtained for the wages Of labor. or debts con- |
trac'ed after the passage OF this act, but shall |
apply to al corporations, whether defendants |
or holders Of collaterals.
SEQ z. That 10 oil cases in which defend. |
Aht shail % entitled 10 stay o. execution |
under the provisions of this act, aud shall nep-
lect or refuse to claim the boneft thereof. any |
mortgage OF the premises levied upon, or other |
lien creditor, whose estate or interest therein |
would DC affected by sale Of tho said premi-
sea, shall have The like ,Ight with the defend
ant to claim such stay of execution.
sec. 3 Fiat upon all Judgments heretofore
entered, or which may hereafter be entered. T
upon eon'ltl9nal veIdcts in actious of eject /
ment, like stay of executions shall be had
upon the same terms and conditions provided |
IN The first section of this act
SEQ. 4. That The provisions Of this act shall |
be considered to apply to all judgments on
which sale by Judicial process has not been
actually made.
FROM BALTIMORE.