Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1895-02-14

guilty of misdemeanor and upon con-
viction thereof shall be punished by fine
or Imprisonment or both, in the discretion
Of the court.
Sec II. The statement of creditor veri-
fled and filed with the assignee as herein
before provided shall be sufficient prima
facie evidence to justify the assignee in
allowing it as valid claim against the
estate. and 1t shall be so allowed, and such
creditor entitled to his proportional share
of the debtors estate, unless the assignor
or other creditor disputing the same shall,
within 80 days after the expiration OF the
time within which the creditors are re-
quired by this act to file their statements,
file exceptions thereto in the office of the
register in chancery OF the county where-
in said assignment is made and praying
the Chancellor to set aside the allowance
and to restrain the payment thereon, for
which purpose the assignor or any dis
putting creditor or creditors may have such
remedy, jointly or seyeraily, by injunction,
or other proper action as the Chancellor
may direct to try the business and validity
of the disputed claim. and if it appears
that an action could not successfully be
maintained at law or in equity by the
creditor against the assignor upon such
claim, or any disputed part thereof, the
same shall be disallowed, in whole or in
part as the case may be, and the assignee
portion thereof as may be disallowed; and
for the information of assignor and credi-
tors it is further provided that the assignee
shall allow them, or any of them, to take
"a copy of any creditors statement OF bis
claim that has been filed with such assignee
rs herein provided.
Sec. Is. Claims that are not due may be
| allowed at their present value by discon-
| tinuing them at the rate of interest men
toned in the contract, if any, otherwise at
| the legal rate and ii any creditor holds
| collateral security of less value than his
debt the value thereof may be estimated
by the assignee and only the difference
between such sum and the debt shall be
| allowed.
Set. IA. If any assignee becomes insult
| able to perform the trust, refuses or
neglects so TO do. or mismanages the prop
| erJy, the Chancellor may, upon the appil-
| cation of the assignor, or one or more OF
| the creditors, upon reasonable notice TO
all parties interested, by publication or
otherwise, as the Chancellor may direct,
remove such assignee and, i'll case OF
vacancy by death or otherwise, shall APP
point another in his place, who shall have
the same powers aud be subject TO the
same liabilities as the original assignee
Sec. 10. Whenever any assignee shall
have in his hands funds sufficient to pay
10 per centum of the debts due by the
|
ton of the same among said creditors and
the assignee shall be entitled to reasonable
compensation for his services and his
necessary costs and expenses including
also his attorneys fees, all to be allowed
in case of difference between the parties
by the Chancellor.
Sec. 16. Whenever any assignee shall
have fully performed the duties of hi
trust and desires to be finally discharged
therefrom he may make report OF hi
proceedings under the assignment, show
ing the money and assets that have COM
: into his hands and how the same hav
been disbursed and disposed of, the trutl
of which shall be verified by his affidavit
and such report shall thereupon be filet
and recorded in the office of the register IL
cbancery of the county in which th
assignment is recorded and no action shall
be brought against such assignee by reasol
of anything done by him under the assign
7 ment, as shown by his report, unless tn
; same be brought within IL months fro1
the time of the filing thereof, as aforesaid
and any moneys or funds on hand sha
be deposited in the court of CHANGER
! subject to be paid out upon the decree c
I said court.
Sec IL. Every mortgage. deed of trust
: or other form of lien attempted to be give
. by the owner of any stock of goods, ware
a or merchandise daily exposed to sale, i
: parcels. in the regular course of the bus
: ness of such merchandise, and conten
; plating n continuance of possession Of sal
9 goods and control the said business b
Y sale of said goods by said owner, shall /
n deemed fraudulent and void.
It Sec. Is. Any attempted preference {
!, one creditor or creditors of such assignt
d shall be deemed fraudulent and withol
u effect.
n Sec. 10. The Chancellor shall ha'
e authority and is hereby authorized
s. make any and all such orders, rules an
DEGREES to further the objects of this act
!, may in his discretion be proper.
g Sec. 20. All acts or parts of acts inco
e sistent herewith are hereby repealed.