The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1867-06-26

The BaGkruDG law.

y
of It's principal provisions will be OF use.
The act provides for voluntary and in.
voluntary bankruptcy, for the bank.
rnptcy Of partnerships and Of corpora.
tons, ana ior the superccduro OF Tho
bankrupt proceedings by arrangement.
Any person may voluntarily obtain the
benefit Of the act who owes debts ey-
ccedng $500, by applying by petition
80 the Judge Of the judicial District
IN which such person has resided or car.
rlcd on business for The six months next
immediately preceding the time Of fling
OF such provision, OK for the longest pc
nod during such SIN months, setting
iotil his place Of residence his Inability
to pay all his dcLls in full, his wiling.
ness to surrender all his estate and cl.
ircts lor the benefit Of his creditors, and
lis desire TO obtain the benefit Of this
act and he must annex to his petition
schedule verified by oath, before the
Court, or before u Register in bankrupt.
cy, or before one Of The Commissioners
OF the Circuit Court or the United States
containing y !ull anu true statement Of
al his dcb':, and, rs far as possible, to
whom duc, with the place Of residence
Of each creditor, il known to the debtor
and il not known, tho fact 10 DC so sta.
ted, ami the sum due 10 each creditor;
also the nature Of each debt OF demand.
whether founded on written security,
obligation, coniracr, or otherwise and
also the truc cause and consideration Of
such indebtedness, in each case, and the
place where such indebtedness accrued,
and statement OF any existing mort.
gag, pledge, lien, judgment or collatc-
raj, or other security given for the pay
mcnt OF the same; and shall also annex
to his petition All accurate inventory,
verified in like manner, Of all his estate.
botn reti nd personal Notice Of The
proceeding must be given to all crcdi-
tors, and the property IS to be turned
over to an assignee for their benefit
There IS excepted from tho provisions
o! this act tic necessary household and
Kitchen furniture, and such other articles
and other nccesSares Of such bankrupt
as the sald assignee shall designate and
set apart, having reference in The amount
to the family, condition anu circumstance
OF the bankrupt, but altogether not to
exceed i'll value, in any case, the sum
OF 5000; and also the wearing apparel
OF such bankrupt, and that OF his wife
and children, and the uniform, arms, AMI
equipments Of any person who is or has
been Il soldier N the militia or in the
service Of the United States; and such
other property as now is, or hereafter
shall be, exempted from attachments or
seizure, or levy on execution by Tho
laws The uuirl States, and such 9th
er property not included in tho foregoing
exceptions, rs is exempted from levy
and sale upon execution or other process
order Of amy court by the laws of the
State in which the bankrupt has his
domlcIle AT the time Of the commence.
mcnt Of the proceeding i'll bankruptcy,
to an amount not exceeding that allow
ed by such State exemption laws in force
IN The year 1864"
Six months after tho adjudication Of
bankruptcy, after publication IN the
newspapers, n certificate is given the
haukrnpt dIsciarGing him forever from
ali his debts existing at that Tine
Any person OWING debts MAJ. involun-
taLiy be declared a bankrupt who shall
depart from the State, DisLric, or Ter.
rltory Of which he is an inha.Lant, with
intent to dcfraud his creditors or being
absent shall, with such intent, remain
absent; or shall conceal himself to avoid
the service or legal process in any action
for the recovery Of u dcbt or demand
provablo under this Act; or Shall con-
ceal or remove any Of his property to
AVOID lis being attached taken, or Sc
qncstercd OH legal process; or shall
make any assignment, gift sale. convey
ancc, or transfer Of his estate, property
rights or credits, or either within the
United States or elsewhere, with intent
TO delay, delraud, or hinder his creditors,
or who has been arrested and held in
custody under OF by virtue of any pro.
cess OF execution, issued out Of any
court Of any State, District or Territory
within which such debtor resides or
has property, founded upon demand
IN its nature provable against bank
rnpts estate under this act, and for a
sum exceeding one hundred dollars, and
such process in remaining force and rot
discharged by payment, or in any other
manner provided by tho law Of such
State, District, or Territory, applicable
thereto, for u period Of seven days; or.
has been actually imprisoned for more
than seven days in Il civil action, found.
cd on contract for the sum Of one hum
drcd dollars or upwards or who being
bankrupt or insolvent, orin conicmpla-
ton OF. bankruptcy or insolvency, shall
make any payment, gift, grant, sale,
conveyance, or transfer Of money or
other property, estate, rights or credits
or give any warrant to confess Judgment
or procure or suffer his property to be
taken on legal process, with intent to
give preference to one or more Of his
crcdlt0rs or to any person or persons
who are or may be liable for him as in
dorser, bail surctics, or otherwise, Or
with tho intent, by such disposition Of
his property. to defeat or delay the opc..