National Bankruptcy Register Reports Volume 10

National Bankruptcy Register Reports Volume 10

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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. 1874 edition. Excerpt: the joint act of the partners, or by the act of one, does not put an end to the power of the Bankrupt Court. They have declared that if there are any assets of the firm, although the partnership may have been dissolved, that gives authority to the Bankrupt Court to proceed and wind up the afiairs of the partnership. But it may be one of the very questions in thecase whether or not there are partnership assets, and this question the Bankrupt Court will have a right to determine. ' It may be, if there is nothing of the firm remaining, no business transactions, and neither debts, credits, nor assets, and the firm is dissolved, that there is nothing for the Bankrupt Court to operate upon; but as long as there is any unfinished business on the part of the firm, debts, or credits, or assets of any kind, it seems to me that, upon a proper case made, it is the province of the Bankrupt Court to settle it, and that it is the right either of the partners themselves, or of one of them, or of a creditor, to go into the Bankrupt Court for that purpose. i There certainly could not be any doubt but that the partners, by a voluntary act, could come into the court and obtain a decree in bankruptcy against themselves, even though there might have been a formal dissolution of the firm, provided there was any business, debts, or credits of the partnership remaining, and thus be discharged from their debts. And if they together have the right to do it, why has not one of them the same right? The language is just as applicable to one as to all the part It is obvious that the principles I have already laid down in the Kinkead case, apply with equal force to this case. I can see no difierence between the voluntary and involuntary proceeding, so far as more

Product details

  • Paperback
  • 189 x 246 x 12mm | 417g
  • United States
  • English
  • black & white illustrations
  • 1236908511
  • 9781236908513