American Bankruptcy Reports Volume 41

American Bankruptcy Reports Volume 41

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 edition. Excerpt: ...having been furnished one particular class of debtor and another kind of protection provided for the other classes, there is no reason to conclude that the particular class was intended to have the advantage of both, especially in view of-the language of the proviso of section 564 above quoted. While the referee based his decision upon the applicability of the sixty day provision, the bankrupt having asserted a right to exemption out of his wages of $250 in lieu of certain live stock specifically exempted to the head of a family (Remington & Ballinger's Code, sec. 563, subdiv. 4), and which property this bankrupt did not possess, that question will also be considered. It is not necessary to determine whether the case of LeMagie v. Acme Stamp Works (55 Wash. Dec. 467, August 22, 1917), overruling Creditors Collection Ass'n v. Bisbee (80 Wash. 358), on the question of the right to lieu exemptions, has the efiect of allowing a debtor to retain as exempt, in general, money owing him in lieu of those animals specified as exempt (Rem. & Bal. Code, sec. 563, subdiv. 4), but not possessed or not desired to be retained by the debtor, for, in 1907, section 703, above quoted, was amended by the addition of the following: "' ' ' And provided further, that no money due or earned as wages or salary shall be exempt from garnishment in lieu of any other property." for while Creditors Collection Ass'n 11. Bisbee (80 Wash. 358) has been overruled in the matter of lieu exemptions, it has not been overruled in the holding therein made that section 7 03, containing the foregoing proviso, was in all respects constitutional. The bankrupt's exemption out of his wages will be limited to $40. HENRY...
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Product details

  • Paperback | 386 pages
  • 189 x 246 x 20mm | 685g
  • United States
  • English
  • black & white illustrations
  • 1236939913
  • 9781236939913