Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1867-03-15
The RAnkr1pt Law.

tour ycars. and 40 ~ nos thc a. OF The
lad. Hswcver rasch bsne6t may he dc
rivr.l from rclsssing houess ard cnterpris-
in- men from fhe euharrass uneni into which
sbcy nsy have fallen. from Sudden fran
cal oiashes or from trusting % ether. there
= vet a strong feeling against r~ncral
policy q paving one's debts With the DIS
charge Of A bankrupts' court. 4 las can
not be irAnsed that vii favor worthy debt
ors onl,. vhiic The disLonsst one. ~ho are
bcn6t;ed suffice o. make an at obnoxious
The present AN = very Stringent The
execstion - given 10 The L. = Disiric,
Courts. With tte eosrts 81 cquiiy. 18th ri-hf
OF appeal 60 The Circuit Court The insol-
vency may b. OF tso sorts.-roiunta-y ana
invoiuntsry. In tbe former. sny Person
rrsiding within tbe Jurisdiction 81 ihe 1 nii-
"a States. owing over thrce huodrei aoi-
lars. AM ending irusef insoisent- may aP-
plv hv petition % The jsl-c % the district
in uh;ch he bas rf.idcl ior she "a months
p-c,eiin- tbs date Of thc retuion. or Tor
LONGER pci I'd daring sech SIX months. and
sh.u thcreurou D. declared n bankrufi.
TIE -hoie afairs % the bankruPi % pass
into fbc hands % the assisnecs. ~ho have
hH o. yer granted then Necessary Tor the
sual adjustnent and elosing Up q the 80
tate. Stringrtt rcguliions are made ior
The proper deposit and safe keeping of al
MONEYS reviewed from The estate. aai
whsrc DELAY Is likely 20 occur from hfisa-
iion IN ,hc fr,l dis'ribufion o. the Asset.
The coart is empowered o. GiIeet iheir tcn-
poraIy invcstuent. The hankiupt - liable
a. al times % DC caiisd ~ ior eSss.inaii,D
90 cath uPon az matters reiafin- o. thc
disposal or condition 90 hi. property o. 30
Us husincss trarsaciion-. ard for cool
cause shown. hi- ~iiv nav in ike manner
be compelled O. attend a. -itncs, in the
case
j. The distri5uSion % tie bankrupt So
tate disidrrds ar 60 o. pad a. agreed ur-
or b. . majority IN vaiue q the creditors.
from time 90 time. a. ihrve uoufls inter-
sais. Dot th~ following claims ~, frsi 90 D.
paid iu ial- firsf. tb- fycs. costs ard al
~Sp-nsrs under tbe bansr1pi SCI; second.
al debts. taN~s anl asses.nicnts dac - the
Juii~d State. third. rsc~. doe Co. an op-
etaiivc. clcIk o. bouse servant % a. aaiosnt
Nc; rNcocling 6.is dollars ior labor pr
formed wiihin ~ months prcc-iins ihc
bankruptcy fourth al debts due 60 az
pcrsons Sho are or NAV 5e entitled fo prci-
ervncr - tie la~s al The Tnuod Stsfes.
Tae voi-niary hankrupi - en'ltied % hi.
di.char-c pfovi,lcl no fraud D. proved
agaiasf him. 90 am time from sixfy dave o.
one year after adlssii-aiion e baakrupics
tuf tie proof Or Discovery a am iraud or
couccA.mcui dcprivcs han % III night % a
discharge. No person ~ho has oacc -
oeivcd hIs di-cLarge = % b. eutiilcd again
O. become a voiun'srv bankrupi. unless his
estate Is sutEc'eat 90 pay seventy pr cen,
q his dcbis. or snirss iLrcc- fourths OF o..
credifors asscai IN wriins o. o.. bankrupt
CO Prrierrnccs and fraudaicus convey
snccs are declar-d so.d o. the act. ard
Suitable provisions AZ made for thc roi-
uniary bankruPtgy C partnership, and cor
porasions.
various arricies are exempted. not 90
exceed so.
Acts 81 Involuntary baukrupf-y Under The
Law are Classified a. iollovs departure or
ah-crcc irotn the State where debts 49,
owed. ~iih inicntt3 deirasd the crr.liior.
eoi.oeaiuseni O. asoid icc c. process for
the recovery 81 drht, conocalu,eut a prop
erty 10 AVOID seizure ca icgsl process a.
sisnmenis Designed % delay. aeiraud o.