Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-03-27

to set aside and snnul the same Said appli-
cation shall be in writing, shall specify which,
in particular, of the several acts mentioned
in section twenty-nine it is intended to give
evidence Of against the bankrupt, setting
forth the grounds Of avoidance, and no evil
dence shall be admitted as to any other of the
said acts but said application shall be sub
ject to amendment at the discretion of the
court. The court shall cause reasonable
notice of said application to be given to said
bankrupt, and order him to appear and an
ewer the same, within such time as to the
court shall seem fit and proper. If, upon
the hearing of said parties, the court shall
find that the fraudulent acts, or any of them,
set forth as aforesaid by said creditor OF
creditors against the bankrupt are proved
and that said creditor or creditors had NO
knowledge Of the same until after the grant
ing OF said discharge, judgment shall be
given in favor of said creditor or creditors
and the discharge of said bankrupt shall bet
set aside and annulled. But if said cour
shall find that said fraudulent acts, and all
of them, set forth as aforesaid, are not
proved, or that they were known to said
creditor creditors before the granting OF
said discharge, then Judgment shall be rem
dered in favor of the bankrupt, and the
validity of his discharge shall not be affected
by said proceedings.
PREFERENCES AND FRAUDULENT CONvEYANCEs
DECLARED VOID.
Sec IS. Andb 1t further enacted, That if
any person, being insolvent, or in contempla-
ton Of insolvency, within four months before
the filing of the petition by or against him.
with a view to give preference to any cred
Itor or person having claim against him,
or VINO is under any liability for him, pro-
cures any part of his property to be attach
%
makes any payment, pledge, assignment,
transfer, OF conveyance of any part of his
property either directly, or indirectly, abso-
lutely or conditionally, the person receiving
such payment, pledge, assignment. transfer
or conveyance, or to be benefited thereby. or
by such attachment, having reasonable cause
to believe such person is insolvent and that
such attachment, payment, pledge, assign
ment, or conveyance is made in fraud of the
provisions of this act, the same shall be void.
and the assignee may recover the property
or the value of 1T, from the person so receiv-
ing 1t, or SO to be benefited and if anv per-
son being lnsolvent, or in contemplation of
insolvency or bankruptcy, within six months
before the filing of the petition by or against
him. makes any payment, sale, assignment,
transfer, conveyance, or other disposition of
any part OF his property to any person who
then has reasonable cause to believe him to
ton of insolvency, and that such payment
sale, assignment, transfer, OF other convex
ance, is made with view to prevent his
property from coming to his assignee in
bankruptcy, or to prevent the same from be-
ing distributed under this act or to defeat
the object of or in any way impair. him
der. impede, or delay the operation and eff
feet of, or to envade any of the provisions of
this act, the sale, assignment, tranfer, or
shal 10 -
may recover the property, or the value there
OF. as assets of the bankrupt And if such
sale, assignment, transfer, conveyance is
not made in the usual and ordinary course Of
business of the debtor, the fact shall he
priD'a facie evidence of fraud. ANY contract.
covenant, or security made or given by
bankrupt or other person with, or in trust
for, any creditor for securing the payment
of any money consideration for or with
intent to induce the creditor to forbear op-
posing the application for discharge of the
bankrupt, shall be void and if any creditor
shall obtain any sum of money or other
goods, chattels, or security from any person /
as an inducement for forbearing to oppose, /
or consenting to such application for dis
charge, every creditor SO offending shall for /
felt all right to any share or dividend in the I
estate of the bankrupt, and shall also forfeit |
double the value or amount of such money /
goods, chattels, or security SO obtained. to be !
recovered by the assignee for the benefit Of |
the estate.
OF PARTNERSHIPS AND OF CoRPo-
RATIoNS-
Sec. Sc. And be IT further enacted That I
where two or more persons who are partners
in trade shall be adjudged bankrupt. either
IN the petition of such partners any one of 4
them, or on the petition of any creditor of
the partners, warrant shall issue in the
manner provided by this act, upon which
all the joint stock and property of the CO.
and also all the separate estate
Of each of the partners, shall be taken, ex-
cepting such parts thereof are hereinbe-
fore excepted and all the creditors of the
and the separate creditors of each
partner, shall be allowed to prove their re-
spective debts and the assignee shall be
chosen by the creditors of the company, and
shall also keep separate accounts of the Joint
stock or property of the copartnership and
Of the separate estate of each member there
IF and after deducting out of the whole
amount received by such assignee the whole
If the expenses and disbursements, the net
proceeds of the joint stock shall be appropri-
,ted to pay the creditors of the copartner
ship, and the net proceeds of the separate
estate of each partner shall be appropriated
10 pay his separate creditors and if there
'hall be any balance of the separate estate of
my partner, after the payment of his sepa-
ate debts, such balance shall be added to the ,
oint stock for the payment of the joint ,
:reditors and if there shall be any balance !
If the joint stock after payment of the joint j
iebts, such balance shall be divided and APP !,
,rOpriated to and among the separate estates ;
# the several partners according to their :
right and interest therein, and as =;
t would have been if the partnership had :
'een dissolved without any bankruptcy and
he sum SO appropriated to the separate es- q
ate of each partner shall be applied to the :,
'ayment of his separate debts and the GER :
ifcate of discharge shall be granted or re- !
used to each partner as the same would or
ught to be if the proceedings had been :
gainst him alone under this act and in all !,
ther respects the proceedings against part !
lers shall be conducted in the like manner as j
{ they had been commenced and prosecuted :
gainst one person alone. If such copart- !?
ers reside in different districts, that court z
n which the petition is first filed shall re- y
ain exclusive Jurisdiction over the case :
Sec. 81. And be it further enacted, That >
he provisions Of this act shall apply to all !,
nOneyed, business, commercial corpOr- 4
ions and joint-stock companies, and that \
lpon the petition of any officer of any such !;
orporation or company, duly authorized by :
vote of a majority of the corporators pres =
Mt at any legal meeting called for the pur-
ose, or upon the petition Of any creditor or q
reditors of such corporation or company, e.
lade and presented in the manner hereinaf- n
sr provided in respect to debtors the like n
shall be had and taken as are :,
provided in the case of debtors h
nd all the provisions of this act which APP :,
ly to the debtor, or set forth his duties in s
gard to furnishing schedules and invento- r.
es, executing papers, submitting to exam Al