Year: 1867

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recover the property, or the value
of it, from the person so receiving
it or so to be benefited and ifany
person, being insoIvent, on in con-
temptation Of insolvency or bank
ruptcy, within six months before
the fling Of the petition by or
against him, makes any payment,
sale, assignment, transfer, convey
ance or other disposition Of any
part Of his property to any person
who then has reasonable cause to
believe him to be insolvent, or to
be acting in contemplation Of in
solvency, and that such payment,
sale, assignment, transfer Or other
conveyance is made with view to
prevent his property from coming
to lis assignee in bankruptcy, OF
to prevent the same from being
disturbed under this Act, or to de-
feat the object of; or in any way
impair, hinder, impede, or delay
the operation and effect of, or to
evade any Of the provisions ofthis
Act, the sale, assignment, trans
fer or conveyance shall be void,
and the assignee may recover the
property or the value thereof as
the assets Of the bankrupt.


INVOLUNTARY BANKRUPTCY.


SEC. 80. And be it further en-
acted, That any person residing
and owing debts as aforesaid, who,
after the passage Of this Act, shall
depart from the State, District,
or Territory, Of which he is an
inhabitant, with intent to deffaud
his creditors, or, being absent,
shall, with such intent, remain ab-
sent or shall conceal himself to
avoid the service Of legal process
in any action for the recovery Of
a debt or demand provable under
this Aot or shall conceal or re-
move any Of his property to avoid
it's being attached, taken or se--
questered on legal process or shall
make any assignment, gift, sale,
conveyance or transfer Of his es-
tate, property, rights or credits,
either within the United States or
elsewhere, with intent to delay,
defraud or hinder his creditors, Or
who has been arrested and held in
custody under or by virtue of
mysnc process Of execution, issued
out of any court Of any State, Dis
trict or Territory, within which
such debtor resides or has proper
ty, founded upon q demand in its
nature provabIe against a bank
rupt's estate under this Act, and
for a sum exceeding one hundred
dollars, and such process is remain
ing in force and not discharged
by payment, or in any other man.
ner provided By the law Of such
State, District, or Territory appli-
cable thereto, for apcriod of seven
days or has been actually impris-
oned for more than seven days in
civil action, founded on contract,
forthe sum Of one hundred dollars,
OF upward or who, being bank
rupt or insolvent, or in coutempla-
tion Of bankruptcy or insolvency,
shall make any payment, gift,
grant, sale, conveyance, or transfer
Of money, or other property, es-
tate, rights or credits, or give any
warrant to confess Judgment, or
procure or suffer his property to
be taken on legal process, with in
tent TO give q preference to one or
more of his creditors, Or to any
person or persons who are or may
be liable 10 him as endorsers, bail,
surctics or otherwise, or with the
intent, by such disposition of his
property, to defeat or delay the
operation of this Act or who, be-
ing Il banker, merchant or trader,
has fraudulcntly stopped or sus-
pended, and not resumed payment
of his commercial paper within a
period Of fourteen days, shall be
deemed tc have committed an act
Of Bankruptcy, and subject to the
conditions hereinafter prescribed,
shall be adjudged q bankrupt on
the petition Of one or more Of his
creditors the aggregate Of whose
debts provablc under this Act
amount to at least two hundred
and fifty dollars, provided such
petition is brought within six
months after the act of bankrupt
cy shall have been committed.
And ifsuch person shall be adjudg-
ed bankrupt, the assignee may
recover back the money or other
property so paid, conveyed, sold,
assigned or transferred contrary
to this Act Pr0Jided, the person
receiving such payment or con-
veyance had reasonable cause to
believe that q fraud on this Act
was intended. or that the debtor
was insolvent and such creditor
shall not be allowed to prove his
debt in bankruptcy.


The remaining Sections provides
for supcrseding bankrupt proceed
ings by arrangement, for penalties
against bankrupts and officers Of
the court, and for fees and costs,
and define the meaning:of terms
and the computation of time. The
law GOES into effect from the date