The weekly Panola star. [volume] (Panola, Miss.) 1857-1881, 1867-03-02


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f,e Ilensia IN BANKRUPTCY To- make
mdiudimiim n bankruptcy t. seearo
~ surrender n any ankfupt ~
administer mllH, take pt0Df u debt,
A..
Afdion b. Authorizes The Jadgrs
n fhe District Courts 10 direct lhc
Attendance II de lIcgiaiI 1T such
plam o. they may deon proper, aud
tmpoecrs iht Judges ~ remove The
Register and GIL vacancies.
geciion q. Authorizes aultors 70
ammI FROM llio llpiHGrs 10 the
Judges In cases Of dispute rs to The
law
section l. Provides for compulsory
attendance Of parties and w~itnesscs'
Sections 4, 8, 10, Provide for ap'
pcal., aud prescribe rules lor practice.
Section II. Prcscribcs the method
Of ayaiIing Of the net.
Any debtor whose debts, proyablc
under the act, amount 10 over three
hundred dollars, may petition The
District Judge Of his district, stating
his insolvency, his Willingness {
surrender his estate, and a schedul,
, under oath of his debts and his cred.
t. itors, with the nature Of the debt il
: full, and IN inventory, also undo
/ oath, Of his assets, Such petition
+ shalt be an not Of bankruptcy, an'
= the petitioner be adjudged a bank
rupt. The Judge shall thercupoI
issue a warrant Tor the Register,
!, there be no opposing party, directe
! to the United States Marshal of sal
district, authorizing him to publis
4 the necessary notices, to wit: !. Tha
a warrant in bankruptcy has bee
v issued. 2. That all payments
: debts to such debtor are forbidden
. 3. That n meeting Of the creditors
a prove debts and choose assignee
IN will be held in a court Of bankruptc
10 not less than ten nor more tina
4 ninety days after the Issuing OF u
f. warrant.
AS These notices are TO be publish'
o. in a newspaper and served on ea'
IN creditor.
be- Section u. Provides for a meetil
y of creditors, at which q Register sb'
preside.
\ Section IL. Prescribes that 4
bc majority in interest Of the creditc
i, shall choose one or more assignee
n. who il approved by the Judge, shi
he be qualified on giving bond.
~ Section IL. Directs that the Jud
.ed Tor if there is no opposing interest
81 the Register) shall convey to t
assignee or assignees the entire RI
.ho and personal estate Of the bankruI
Co. but from this assignment are except
oh household and kitchen furniture, a
h. such other articles as the assigr
,ho may indicate, not exceeding Fl
hundred dollars in value, the weari
apparel of the bankrupt, and
family, his uniform and arms, q
,eb any other property hereafter exempt
ans from attachment or levy by Uni
,cs States laws.
h. Sections Is, 16, II, Is. Prose
ons the duties and powers and the me
;on dds of proceeding of the assiguees
ia Section 10. Authorizes credit
10, to assert aud prove any conting
on. claim they may have against
Sal bankrupt as drawer, indorser, SUR
ed bail or ~giarantor, or q tenant.
H.. Section 20. Provides for set-oh:
all cases Of probable claims.
,,oj Section 81. Prohibits any credit
! 81 Of the bankrupt from suing
a. after he avails himself of the act.
Scctiou 90. Provides the metl
ali of proving claims-that Is, by 7
AZ ducing legal evidence before I
a. Register in his district, or, IL
,loI creditor is nonresident, before
anJ United States Commissioner.
hall Sections %, -, %. Respect
;ng tails Of practice in the prescntat
hon and proof of claims.
;.n. Section %. Authorizes the exaI
: - nation Of the bankrupt on oath
No the courts, as to his debts and ass
lsss and requires his wife to attend
give evidence, il necessary.
.,L. Section ~. Prcscribcs that
/. a. creditors, who prove their del
,on. shall share alike, except that wa
TO an amount not exceeding 4
hi dollars, for services performed in
,be providing six months, shall be 4
in full.
-, Section IS. Prevents The prioi
~ Of debts.
sala Section 90. Allows the bankrt
''eu after six months from the adjudi
: ton Of bankruptcy, or If no debts
, assets within sixty days, 90 apply
natl - I'll .-lt.l a.. ...~ 4.