The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1867-03-27
LANCASTER c. H., S. c., MARCH q, 1867
Involuntary Bankruptcy.

Ibe provisions Of the new bankrupt
bill. 80 far as they effect the voluntary
applications, are now generally uudsr.
stood; but those which give to creditors
the power Of proceeding to mako their
debtors. ba,krup, are not so well known.
They are much moro extensive than like
provisions in former acts. which have
been in force 10 this country, and thev
are important to be nuderstood. The
causes which will authorize a creditor to
proceed against bis debtor, are given a.
follows. by the Philadelphia Inquirer
First. The voluntary departure OF the
debtor from the State. Dstfiet, or terrific
~, Of which he is az inhabitan,, With in.
tsLt to defraud bic creditors.
Second. ConcsaImsnt by . debtor, 10
avoid the service Of legal process, 10 any
action Of debt or upon demand.
Third. Concsa!msot or removal Of pro
per'y, to prs'.n. il" being attached. taken
or sequs.,sred on legal process.
Fourth. The assignment, gift, sale, con.
vsyance, or transfer OF estate, property.
riRhts, or creds, 10 this couutry or
abroad, with in'en. to DELAY, defraud, or
binder creditors!
Fifth Being arrested and held 10 cusr
sody, uuder ms'ns process of execution
Tor. a debt valid and provsble under the
bankrupt Law, exceeding one hundred
dollsrs il such process il not discharged
by payment, or By law, within seven
days.
Sixth. Actual imprisonment by process
ia civil action 'pon a demand exceed.
ing one hundred dollars, founded on con.
tract, for more Than seven day.
Seventh The payment, g;0 or transfer
sale, or conveyance Of property or mon.y
10 any Psrson, in contemplation Of bank.
ruptcy. The Psry bsing baukrup, or in
solvent at the time
Eighth. Giving & warrant to eonfss,
judgmsst, 10 contemplation Of bankrup,
sy.
Ninth. Suffering property to BE- take,
in execution, OF on legaI process, With d
intent TO give Q preference to one OF NOR
creditor.
Tsn,b. Suffering property 10 DO take,
in.sHecution, Or upon lsgal process. viii
intent to give . preference 70 indorssr.
bail. or suretiss, with intent 10 delay, O
TO defeat the operations Of The act.
Eleventh. The fraudulent, stoppaps O,
suspension BY . banker, trader. or msr
chan. Of hi. commercial paper, not 70
sumsd within fourteen days.
Asy. .psrson thus liable isr the act, dc
signsted, NAV bs made q bankrupt vita
In six months ahsr their perpstrstion, o,
the psti,ioa Of one or more OF his crsdi
tor.,ths aggregate Of whose debts amou n
70 $3.50. Nor 10 this al. The uansac
ton which caused ns bankruptcy I, vol,
and the assignee may recover back pro
psrty transferred. or money, paid by tn
bankrupt; provided, that the psrson r.
csiving Il had reasonable cause to bslis,
that q fraud WAS intended. or that tn
debtor was insolvsnt.. And fustbsrmor,
ouch psnon 40 implicated in the fraud,
= creditor, shall not 10 allowed 10 prov
his debt against the bsnkrupt, and mu,
lose Il altogether.
It will thu. be seen that thi. &C, No
only gives to the debtor Who has bee
honest but unfortunate the means Of .,
Iisving bimsslf from hi. burden, but
guarantee to the creditor . rsnnsd
against fraudulent practices; renders di,
positions Of property in isvoritsism a.
preference void. and puuishss. no, ou
the party making such preference, bu
him who has to receive the benefit
Against involuntary bsnkrupts order, Q
arrest and imprisonment may bs issued
and they may be either confined or mad
to give bail for their appearance. The.
ssshls.iess may s!Fse. hu.iaees -s.y mech
and ii is the duty OF every one bs,iu,
transactions with others 10 make himsel
master OF the directions OF. the Law, =,
that he shall no, render himsslf limo
Gently liable TO- punishment
MurrApv n,nv.s IT..