This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 Excerpt: ...56, as well as the general Bankrupt Act, 6 Geo. 4, c. 16, should be kept in view with reference chiefly to the following points: --1. Instead of a commission under the great seal, there now issues a fiat under the hand of the Lord Chancellor (1 & 2 Will. 4, c. 56, s. 12), but the persons appointed to execute the flat ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 Excerpt: ...56, as well as the general Bankrupt Act, 6 Geo. 4, c. 16, should be kept in view with reference chiefly to the following points: --1. Instead of a commission under the great seal, there now issues a fiat under the hand of the Lord Chancellor (1 & 2 Will. 4, c. 56, s. 12), but the persons appointed to execute the flat are still called commissioners. 2. The choice of (the non-ofEcial) assignees takes place at the first of the two meetings of creditors appointed for the bankrupt to surrender, (ib. s. 20). 3. All the personal estate of the bankrupt, and such real estate of the bankrupt as by the act, 6 Geo. 4, c. 16, is directed to be conveyed by the commissioners to the assignees, are vested in "the bankrupt's assignee or assignees for the time being by virtue of his or their appointment" alone, (ib. s. 25 6c 26; as to commissions prior to 1 & 2 Will. 4, c 56--Smith v. De Tastet, Montagu & Ayrton, 370.) 4. Iu every town fiat, an official assignee is added to the assignees chosen by the creditors, (ib. s. 22); and such official assignee is directed to possess and secure the personal estate, the rents of the real estate, and the proceeds of the sale of both the real and personal estate, (ib. ib.) Until the choice of assignees by the creditors, the official assignee is competent to act as sole assignee, (ib. ib.) It follows that upon a sale, under a town fiat, the purchase-money must be paid to the official assignee; but after a choice of assignees by the creditors, the judgment and discretion relating to the sale are confided to such assignees exclusively, (ib. s. 23). 5. By the act, 6 Geo. 4, c. 16, s. 68, the commissioners are directed, (instead of conveying to the assignees) by deed indented and enrolled in any of his majesty's courts of ...
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