Reports Volume 5-8

Reports Volume 5-8

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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. 1885 edition. Excerpt: ...the insolvent debtor and assignment laws as to prevent insolvent dobtors, or debtors known to be in failing circumstances, from making preference amongst creditors within at least two months of the failure or assignment of such debtors. The Chair: You hear the recommendation of the Committee. The question is upon agreeing to the report. Mr. King: Wouldn't you insert three instead of two? If there be no objection, I move that three months be inserted instead of two. Seconded. The Chair: It is moved and seconded that the report of the Committee be amended by inserting three instead of two, making it three months in the place of two. Are there any remarks upon this motion? The motion to amend was put and carried. The Chair: The question is now on the adoption of the report as amended. Are there any remarks? E. S. Young: How are we to ascertain--this resolution provides that no preference shall be made within three months before failure or assignment--how are we to ascertain when a man fails? We can make it definite by saying that he shall not make a preference within three months before assignment; but when we say failure, how is the failure to be ascertained? Mr. Stuart: My understanding is the details of this matter will be considered by the Legislature, and they shall provide what shall be necessary. I do not understand that we are drawing a bill here, with all the details for the Legislature, but we are simply suggesting legislation for the Legislature to take up. Mr. King: There is an exceedingly well tried form to go by in this case, and that is the old section of the bankrupt act, and that is what the Legislature probably will follow. The Chair: Are there any further remarks? If not, all who are in favor of agreeing to the...show more

Product details

  • Paperback | 190 pages
  • 189 x 246 x 10mm | 349g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236872134
  • 9781236872135