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Manual of the U.S. Bankruptcy Act, 1867

Manual of the U.S. Bankruptcy Act, 1867

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Cornelluniversity
Library
KF
15111867
Manual
of
theaS-Bang^^^^
Cornell
University
Law
Library
The
Moak
Collection
PURCHASED
FOR
The
School
of
Law
of
Cornell
University
And
Presented
February
14,
1893
IN
nenoRY
of
JUDGE
DOUGLASS
BOARDMAN
FIR3T
DEAN
OF
THE
SCHOOL
By
his
Wife
and
Daughter
A.
M.
BOARDMAN
and
BLLBN
D.
WILLIAMS
 
BANKKUPTCY,
I.,
II.
iSankruptcg.
I
kiupfe
I.
II.
III.
IV.
V.
VI.
VII.VIII.
IX.
X.
XI.
"
5gi.
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
XIX.
General
principles.
Jurifdidtion
in
bankruptcy.
What
is
an
aft
ofbankruptcy.
Effeft
of
an
aft
ofbankruptcy.
Of
the
petition.(a)
Yoliiniary
banhi'upicy.
(h)
Involuntaryhankruplcy.
EfFeft
of
the
inftitution
of
proceedings.
CommiHioners
in
bankruptcy.Evidence.
Praftice
in
bankruptcy.
Of
thedecree.
Of
the
difcharge.
EfFeft
of
the
difcharge.
What
property
vefts
in
the
aflignee.
Wliat
may
be
allowed
toa
difcharged
bankrupt.
Rights
and
liabilities
of
affignees.
Suits
by
and
againft
affignees.
Probate
of
debts.
Diftribution.
Colls.
1.
General
principles.
1.
The
English
rule
that
an
assignee
in
bank-
ruptcy
is
vested
with
the
personal
property
of
the
bankrupt
in
a
foreign
country,
and
which
i^ecognises
the
title
of
a
foreign
assignee
to
pro-
perty
in
thatcountry,
doesnot
prevail
in
the
United
States.
Booth
v.Clarlc,
17
H.
322.
2.
The
preference
of
the
United
States
in
cases
of
bankruptcyand
insolvency,
extends
to
all
its
debtors,
tfnited
States
v.
Fisher,
2
Cr.
358.
3.
The
United
Statesare
entitled
to
a
prefer-
ence,
though
the
debt
was
contracted
in
a
foreigncountry,
and
the
government
proved
the
same
under
the
commission,
and
voted
for
an
assignee.
Harrison
v.
Sterry,
5
Cr.
289.
4.
The
bankrupt
law
ofa
foreign
country
cannot
operate
a
legal
transferof
property
here.Ibid.
5.
A
discharge
under
a
foreign
bankrupt
law,
is
no
bar
to
an
action
on
a
contract
made
in
this
country.
McMillan
v.
McNeill,
4
Wh.
209.
6.
If
the
bankrupt
himself
be
one
of
the
as-
signees
of
the
estate,
he
may
discharge
a
debtor
thereto,
on
the
receipt
ofnegotiablepaper.
Bandon
v.
Tohy,
11
H.
493.
7.
If
thecharacter
of
a
claim
in
favorof
a
bankrupt
be
so
indistinctly
stated
inhis
schedule
as
to
give
no
information
of
its
value,
and
the
bankrupt
himself,
in
the
name
of
athird
person,
purchase
from
theassignee
at
a
public
sale,
all
his
effects,
for
a
nominal
sum,
this
is
a
fraud
on
the
bankrupt
law,
and
void.
Clark
v.
Clark,
17
H.
315.
See
Conflict
op
Laws,
VI.CoNsiiT|;Tio:.AL.LAy,^^ja;^
II.
Jurisdiction
in
bankruptcy
8.
Extent
of
the
jurisdiction
in
bankrupt]
under
the
act
of
1800.
Sands'
Case,
1
U.'
Law
J.
15.
Lucas
v.
Morris,
1
Pa.
396.
MoiM
'.
Estate,
Crabbe
70.
9.
The
district
courts
couldnot
remove
ti
assignees,
or
compel
them
to
account.
LuMk^
}
Morris,
1
Pa.
396.
See
1
U.
S.
Law
J.
3llpi
10.
Such
jurisdiction
was,
however,
vestea
J
the
circuit
court.Ibid.
.,5,
11.
The
district
courts
had
power
to
sui
sede
a
commission
of
bankruptcy
after
the
rej
of
the
act.
Morris'
Estate,
Crabbe
70.
12.
In
all
casesarising
under
the
bankt"
law
of
1841,
the
circuit
and
district
courts
1
concurrent
jurisdiction.
McLean
v.
La/ay,
Bank,
3
McL.
185.
s.
c.
13
H.
151.
13.
The
circuit
court
had
jurisdiction
ofcasesin
which
a
suit
was
brought
by
or
agaffl
theassigneeof
abankrupt.
Ibid.
14.
The
district
and
circuit
courts
wer^ia
sessed
of
the
full
jurisdiction
of
courts
of
e^i^^
over
all
subject-matters
arisinginbankrup||0'
Ex
parte
Foster,
2
St.
131.
Mitchell
v.
Ori^
Works
Milling
and
Manufacturing
Co.,
Ibf
648.
Ex
parte
Martin,
5
Law
Rep.
158.
15.
The
circuit
court
exercised
jurisdicti(*j|
cases
of
alleged
fraud,
over
distinct
intej
and
parties,
to
adjust
liens
and
make
distrjtt'
tion.
McLean
v.
Lafayette
Bank,
3
McL.
5ffi|
16.
The
circuit
court
had
no
jurisdiction
oil
bill,
at
the
suit
of
a
creditor
who
had
proved
i|'"j
debt,
to
set
aside
the
discharge,
on
the
grouii'
of
fraud
;
the
district
court
alone
was
compel^
to
grant
relief.
Commercial
Bank
of
Manch^'
'
V.
Buckner,
20
H.
108.
E"]
17.
The
circuit
court
had
jurisdiction
of
a
s'-,
j
by
an
assignee
in
bankruptcy
on
a
note
in
fa^|j
of
the
bankrupt.
Pritchard
y.
Chandl^^U
Curt.488.
^
18.
The
district
court
had
jurisdiction
of'tk^
action
by
an
assignee
in
bankruptcy
to
recQ
abalance
due
the
bankrupt
as
factor.
Keldj
Smith,
1
Bl.
C.
C.
290.
19.
In
bankruptcy
the
jurisdiction
depenl
on
the
subject-matter,
not
upon
the
pa
Ibid.
20.
In
what
manner
a
question
must
be
i
fledto
the
circuitcourt,
in
order
to
confer
j^
diction
on
it.
Ex
parte
Marsh,
6
Law
Rep.'6'^'
21.
The
circuit
court
had
no
authority
to
efj
tertain
questions
in
bankruptcy,
adjourned
fro^
the
district
court,
unless
they
were
distino
raised.
Ex
parte
Grant,
5
Law
Rep.
303.
22.
The
district
judge
couldnot
sit
onl
question
adjourned
into
the
circuit
court.
Ni
son
V.
Carland,
1
H.
265.
In
reCastleinan,
Ibic
281.
Collins
v.
Blyth,
Ibid.
282.
23.
No
appeal
lay
from
the
decision
of
tH
circuit
court;
and
it
was
conclusive
upon
th
district
judge.
Ibid.
s.
p.
Ex
parte
Christ
3
II.
292.
Crawford
v.
Poi7its,
13
H.
11.
#;
'a
-ieeiver
Jasb||n
jlBiiKty',

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