Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1861-05-23
The STAY Law,

| u IS he7c6V enacted 6y me dHth0THy OF me same
That upon all judgments now remaining unsat-
is6ed, or wch may be obtained within six
months from the passage of this act, there
shall be stay Of execution tor one year from
the passage hereof as regards Judgments now
existing, and from their date as regards Judg
ments obtained after the date hereof. ProVl
| ded that the defendant is possessed OF real es-
! tate within the respective county or counties
! in which such judgment shall have been OBJ
tained, or in any other county within this
! Commonwealth, TO which the said judgment
| shall have been transferred, subject to be sold
| for the payment of such Judgment, worth in
the opinion of any court or any Judge in vaca
ton, Justice, or alderman having jurisdiction
Of such judgments, al fair valuation sum
| sufficient to pay or satisfy the same, over ard
! above other membranes, and the amount
exempted from levy and sale on execution.
or said defendant shall give security for the
payment of the same, to be approved by the
! court, or Judge thereof in vacation, or the
Justice or alderman before whom the same was
obtained or may be depending within sixty
days from the date of the judgment, or from
the passage of this act which security shall
consist Of one or more persons, who shall sat
isfy the court, judge, or justice. by oath or
! affirmation, aud such other evidence as may
| be required that they are the iona fde owners
of real or personal estate within the county
where such judgment has been entered, worth
at fair valuation double the amount of such
Judgment, over and above all other debts and
membranes, to which security the plaintiffs
may file exceptions as now provided by law.
And that in all actions now pending, or insti
tuted within twelve months after the passage
of this act, in any OF the courts o t this Com
mOnwealth on notes, bills, bonds, or other in
vestments for the payment of money, or for
the recovery of ooOk debts, wherein the de-
| fcndant or defendants of any stage of the pro-
ceeGings, before actual sale by the sheriff shall
! have filed an affidavit setting forth that the
majority Of bis or their creditors, whose de.
mandS exceed twothirds OF his or their entire
/ Indebtedness, have agreed in writing to extend
I the time Of payment OF the del IS due tnen re-
spcct,vey the court snail direct the pro.hoGo.
/ tary to report the terms Of the said extension,
! EpOn even evidence submitted to him 10y the
defendant or defendants, and thcreupon the
court shall enter an o. der in the cause that no
execution shall issue, except at the periods
when, and in the proportions which it shall ap-
| pear ry the report OF the prothonotary Of the
majority Of the creditors OF the defendant or
]
! defendants, whose demands exceed two-thirdS
/ OF his or their entire Indebtedness have agreed
as aforesaid, to extend the time of payment OF
the debts due them respectively, ard no persoa
or hfm, BANK or broker. holding coiateraIs as
security !or deotS Que or 10 become Que, Shall
within one year from the taking effect of this
act sell at pulic or private sale any such col
!a'eraiS' whether Inc same consist oi mortgage,
BOND, note, or other security commercial or
otherwise ana any party SeIi'nS sncn coliat9raI
Secu'!t'tS "i'h'A such ulho sha" become re-
SPo"s,o'e 'oF Tue same at a0no'e the amount
lot winch IL was pIeuged 10 the owner oI Sucn
con@teral. ana P'0t'ae@ J "FHs', mat Tue pro
visions oI 'A'S ae1 Sd"i extend 20 Judgments
! eh'e'e" OF % De entered IS "cH Np"A oonu
ana wa fahI oi attorney rs upon mortgages 10
secure lhe sah',ahd 10 any subsequent grantee
or owner OF TIE premises 80 bound: as well aS
/ 20 me orl1lu&i ooa5of or mortga9cr, ana also
! 10 al judgments or debts upon winch stay Q.
/ execution mas Heen or may Ue Wa'Ted hY t"o
1eo'or IN any ooIEauoh or contract upon winch
such judgment has been of may hereafter be
obtained or by any stipulation catered into al
any tim separate from SAID obligation or con
tract Aad PFor9ded, That nothing IN this act
contained shall be construed 10 stay an execu
ton thaS may oe issued alter the expiration OF
sixty Gays from the passage OF this act for the
! purpose OF collecting interest due, or to become
cue upon upon, any Judgment Tor any sum- not less
than sow, heretofore obtained; out 30 Sugh
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