Year: 1867

vest in said assignee, although the same is
then attached on mesne process as the
property Of the debtor, and shall dissolve
any such attachment made within four
months next preceding the commencement
of said proceedings. Provided, however,
That there shall be excepted the necessary
, household and kitchen furniture, and such
other articles and necessaries of such bank
rupt as the assignee shall designate and Sc,
apart, having reference in the amount to
the family, condition and circumstances OF
the bankrupt, but altogether not to exceed
in value five hundred dollars ard also tho
wearing apparel Of such bankrupt, and that
Of bis wife and children, and the uniform,
arms and equipments OF any person who is
or has been soldier in the militia or in the
service Of the United States; and such
property AS now is, or hereafter shall he,
exempted from attachment. or seizure. or
levy on execution by the laws of The Uni
le" States, and such other property not in
cluded in the foregoing exceptions, as is ex-
empted from levy and sale upon execution
or other process or order Of court, bv the
laws OF the State in which the bankrupt
has his domicie at the time of the com
mencement Of the proceedings in bank
ruptcy, to an amount not exceeding that
allowed by such State exemption laws in
force in the year 1864. And provided
'urther, That no mortgage of any vessel or
OF any other goods or chattels, made as
security for any debt or debts, in good faith
and for present considerations and other
wise valid, and duly recorded, pursuant to
any statute Of the United States, or Of any
State, shall be invalidated or affected here.
by; and all the property conveyed by the
bankrupt in fraud Of his creditors; all rights
in equity, chooses in action, patents and
patent rights and copyrights; all debts due
him, or any person for his use, and all liens
anl securities therefor; and all his rights
of ac'ion for property or estate, real or per.
sonal, and for any cause Of action which
the bankrupt had against any person, aris-
ing from contract or from the unlawful tax
ing or detention, or Of injury to the prop
erty of the bankrupt; and all his rights of
redeeming such property or estate, with the
like right, title, power and authority to sell,
manage, dispose Of, sue for, and recover or
defend tho same, as the bankrupt might
or could have had if no assignment had
been made, shall be at once vested in such
assignee; and lie may sue for and recover
No person shall be entitled to maintain an
acllon against an assignee for any thing done
by him as assignee. without giving him
twenty days. notice Of such action, specify
ing the cause.


Is. The assignee may sell the real and
personal property for the benefit of the
creditors, subject to the orders of the court.


l6. The assignee may sue in Lis own
name to recover all the bankrupt's estate.


II. The assignee shall deposit separately
all moneys he receives, or the court may
order temporary investment thereof. In
case of controversy, arbitrators may be ap-
pointed.


ls. Assignees may be removed by the
court for cause.


10. All debts due from the bankrupt at
the time of the adjudication, and all debts
then existing, but not payable unit! a future
day, rebate Of interest being made when
no interest is payable by the terms of the
contract, MAY he proved against the estate
oe the bankrupt. All demands against the
bankrupt for or on account Of any goods or
chattels wrongfuIy taken, converted or
withheld by him, may be proved and al
loved rs debts 10 the amount Of the value
OF the property SO taken or withheld, with
interest. If the bankrupt shall be bound
as drawer, indorser, surety, bail, or guar
antor upon any bill, bond, note, or any
other speciality or contract, or for any debt
OF another person, and his liability shall
not have become absolute until after the
adjudication Of bankruptcy, the creditor
may prove tie same after such liability
shall bave become fixed, and before the f.
nal dividend shall have Leen declared.


20. 10 all cases Of mutual debts or mu-
tual credits between the parties, the account
between them shall he stated, and one debt
set OF against the other, and the balance
only shall be allowed or paid, but no set.off
shall be allowed of claim in its nature not
provable against the estate.


2l. No creditor proving his debt or
claim shall be allowed to maintain any sui.
therefor against the bankrupt, but shall be
deemed to have waived all right of suit
against the bankrupt, and all proceeding.
already commenced, or uusatisfied judg-
menta already obtained thereon, shall be
deemed to be dischayoad ond- sr.,.,d.s.a