Abbildungen der Seite
PDF
EPUB

"to defraud his creditors." He was formerly considered merely in the light of a criminal or offender; (c) and in this spirit we are told by sir Edc. Stat. 1 Jac. I. c. 15. § 17.

signees, given out that the commission was bad, but refused to assign his reasons, he was made to pay the expense of inquiries as to its validity directed before the commissioners. 2 Rose, 386. He will be allowed the costs out of the estate, in resisting an application to supersede the commission. 5 Madd. 91. He cannot proceed at law against the bankrupt, even for a distinct demand, Co. B. L. 33. 1 Atk. 114. 152.; nor afterwards contend that the amount of his debt is less than he has sworn to. 1 Moore, 300.

Fourthly, The Commissioners and their Proceedings.--Sect. 20. enacts, that the lord chancellor may appoint auxiliary commissions for proof of debts under 202., or examination of witnesses; such examinations to be annexed to the original commission. Sect. 21. re-enacts the oath which the commissioners are to administer one to another, &c. Sect. 22. regulates the fees, viz. 20s. each for every meeting, and the same for every deed of conveyance executed by them, and for signing the bankrupt's certificate. A barrister in the country to have a further fee of 20s. for each meeting, and a further sum of 20s. if his residence be seven miles from the place of meeting, and he shall travel such distance to the meeting; and every commissioner who shall receive more, or eat or drink at the expense of the creditors, shall be disabled from ever acting again. Sect. 23. gives commissioners in country commissions, being barristers, the preference. Sect. 24. re-enacts S Geo. IV. c. 81. s. 8,. by which commissioners, before adjudication, may summon persons to give evidence of trading and act of bankruptcy, under the same penalties as are provided as to persons summoned after adjudication. And the commissioners, upon proof of debt, trading and act of bankruptcy, &c. shall thereupon adjudge such person or persons, against whom the commission issued, bankrupt. Sect. 25. re-enacts, that the commissioners shall appoint three public meetings, and give notice in the Gazette, at which the bankrupt is to surrender and conform. At these, and every dividend meeting, debts may be proved. Sect. 26. re-enacts, that commissions shall not abate by the death of the king; and that if any bankrupt die " after adjudication" (instead of " after commission sued forth and dealt in"), the commission shall proceed as if he were living. Sect. 33. re-enacts, that commissioners shall have power to summon; and apprehend, if necessary, persons suspected of having bankrupt's property in their hands, &c. and compel them to produce books, &c. Sect. 34. re-enacts the power to examine all persons, &c. and upon their refusing to be sworn, not answering fully, refusing to sign examination, produce books, &c. may be committed. Sect. 35. provides, that where" any person known or suspected to have any of the estate of the bankrupt in his possession, or who is suppos ed to be indebted to the bankrupt" (instead of "witnesses," in the former statutes), shall be summoned to attend before the commissioners, he shall have such costs allowed him as they may think fit; and every witness shall have his necessary expenses tendered him, in like manner as upon subpoena to a witness in an action at law. Sect. 36. re-enacts, that the commissioners may summon, or, if necessary, apprehend the bankrupt, examine him on oath, or, in case of his refusal, commit him. Sect. 37. re-enacts the same power over the bankrupt's wife. Sect. 39. reenacts the penalty of 5001. upon a gaoler who permits the escape of bankrupt, or any other per son committed as aforesaid. Sect. 39. re-enacts, that the questions, for refusing to answer which, the person is committed, shall be particularly specified in the warrant; and if he be brought up by habeas corpus, he shall not be discharged for insufficiency in the form of the warrant, but shall be recommitted to the same prison until he conform, unless it appear that he had sufficient reason for not doing so, with the following new regulations: "Provided also, that the court or judge shall, if required by the party committed, in case his whole examination is not stated in the warrant, inspect and consider the whole of the examination whereof any such question was a part; and if it then appear to the court or judge that the answer or answers are satisfactory, he may be discharged." Sect. 40. enacts, that in actions for false imprisonment, the court may look at the whole of the examination of the party committed, though not set out in the warrant of commitment; and if it thence appear that the party was lawfully committed, defendant shall have the same advantage therefrom as if it had been set out. Sect. 41. enacts, that no writ shall be sued out against any commissioner till a month after notice in writing, setting forth the cause of action, with the attorney or agent's name indorsed thereon, has been left at the usual place of abode of such commissioner. The attorney to receive 20s. for preparing and serving such notice. Sect. 42. enacts, that plaintiff shall not recover unless such notice be proved, and no evidence shall be given of any cause of action not contained in the notice. Sect. 43. enacts, that such commissioner may, at any time within one ca lendar month after such notice, tender amends to the party complaining, and if not accepted, plead the same in bar to the action; and if the jury find they were sufficient, the verdict shall be for the defendant. Or he may pay a sum as amends into court at any time before issued joined, subject to the same rules as in other actions where defendant is allowed to pay money into court. Sect. 44. enacts, that every action shall be commenced within three months after the fact committed, that defendant may plead the general issue, and give special matter in evidence; and in case of verdict for defendant, nonsuit of plaintiff, discontinuance of suit or action after appearance thereto, or judgment upon demurrer for the defendant, the defendant shall recover double costs. (This is instead of Jac. I. c. 11. s. 16.)

Decisions.-There must be two barristers in the country list given in, resident near the place where the commission is to be executed, who shall be quorum commissioners. If barristers re

[merged small][ocr errors]

ward Coke, (d) that we have fetched as well the name, as the wick-
edness, of bankrupts from foreign nations. (e) But at present the [472]

d 4 Inst. 277.

e The word itself is derived from the word bancus or banque, which signifies the table or counter of a tradesman, (Dufresne, I. 969.) and ruptus, broken; denoting thereby one whose shop or place of trade is broken and gone; though others rather choose to adopt the word route, which in French signifies a trace or track, and tells us that a bankrupt is one who hath removed his banque, leaving but a trace behind. (4 Inst, 277.) And it is observable that the title of the first English statute concerning this offence, 34 Hen. VIII. c. 4., "against such persons as do make bankrupt,” is a literal translation of the French idiom, qui font banque route.

fuse to act for the statutable fees, it may he directed to attorneys. 1 Rose, 58. Evasions to exclude barristers supersede the commission. Ib. 13 Ves. 62. If there be a competition between town and country creditors, application by one party on notice to the other, must be made to the lord chancellor, who will direct commission to issue so as to suit the creditors in general. 1 Rose, 48. A creditor is not to act as commissioner, unless he release his debt, 2 Rose, 370. 1 G. & J. 164. Buck, 70.; cannot be both commissioner and assignee. 2 Madd. 292. Same person cannot be solicitor and commissioner under the same commission. Sel. Ca. Ch. 46. Commissioner cannot purchase estate under the commission, 10 Ves. 381. except with general consent of creditors. 1 Buck, 17. They have no lien upon the proceedings. 15 Ves. 293 If the petitioning creditor die between issuing and opening the commission, his executors will be admitted to prove the debt. 1 Gl. & Jam. 252. The trading and act of bankruptcy must be proved by persons not creditors, 1 Rose, 387. 2 V. & B. 177.; (overruling 2 Campb. 301.) The wife cannot be a witness to prove any requisites to support commission. 1 P. Wms. 611. The commissioners cannot be compelled to adjudicate, but may be ordered to proceed. Buck, 510. And creditor may be allowed to take out another commission directed to another list, upon the same docket papers. 1 Rose, 51. 259. 17 Ves. 414. 19 Ves. 464. Bankrupt has right to be present when his estate sought to be charg ed. 1 Mont. Dig. 115. Examination upon the act of bankruptcy may be as to other persons than the bankrupt, as when witness last saw bankrupt's wife, 2 B. & A. 219.; and though witness not bound to answer when it may criminate himself, yet he may be compelled to confess the infirmity of his title as a purchaser, to disclose the time of the purchase. 13 Ves. 183. Bankrupt must answer whether a deed was voluntary, 1 G. & J. 58. ; and must discover particulars relating to this estate, though it may tend to shew he has committed a criminal act, but not to answer whether he has done an act clearly criminal. Buck, 531. If adjournments made to enable bankrupt, on his promise, to produce a balance sheet, he may be committed for not producing it. Buck, 45. 4 B. & A. 356. The lord chancellor may (but is reluctant to) limit the examination of commissioners. 1 Atk. 204. 1 G. & J. 30. And he may permit or refuse defendant at law to have copies of his examination before them. Buck, 290. Party believing himself illegally committed may, upon notice to the other party, 2 J. & W. 453. move for habeas corpus, returnable before the chancellor, see 7 Ves. 425.; or either of the three courts at Westminster in term, or any one of the twelve judges in vacation. The chancellor may issue the writ at common law, in vacation. 2 Swa. 1. Buck. 264. He may (though not usual) discharge on petition. 1 P. Wms. 610. 1 Atk. 240. 1 Swa. 31. Trespass will not lie for commitment, for not answering to the satisfaction of the commissioners. 1 B. & C. 163. And where a bankrupt had been nonsuited in the king's bench on account of not being prepared with evidence to prove the validity of a former commission, the court of common pleas, in an action for the same cause, stayed the proceedings until the plaintiff paid the costs of the former action. 8 Taunt. 407. 2 B. Moore, 460.

Fifthly, Of the Messenger and his Protection, &c.-Sect. 27. re-enacts, that the messenger may, under warrant signed and sealed by the commissioners, break open any house, chamber, shop, door, trunk, or chest, where the bankrupt or his property are reputed to be, and seize him or it, or seize any property in prison. Sect. 28. gives messenger same authority to seize goods in Ireland, provided the warrant be verified on oath by the attorney to the commission before some local chief magistrate, near where the commission is executed, and provided that the messenger shall depose on oath that he is the person named in the warrant, before a justice of the peace residing in the county where the seizure is to be made. Sect. 29. enacts, that the messenger shall obtain a search warrant where it appears to the satisfaction of any justice of peace in England or Ireland, that there is reason to believe property of bankrupt is concealed in any place not belonging to bankrupt. Sect. 30. enacts, that such warrant shall be indorsed by a judge or dinary, or justice of the peace in Scotland, which shall be sufficient authority to the messenger and all acting under hin. Sect. 31. enacts, that no action shall be brought against such messenger for any thing done in obedience to their warrant prior to the choice of assignees, unless demand of perusal of such warrant hath been made or left at his usual place of abode in writing, and unless the same hath been refused or neglected for six days after such demand. If after such demand and compliance, the action be brought without making the petitioning creditor or creditors, defendant or defendants, if living, or if they be joined with him, the jury shall give their verdict for the messenger defendant, notwithstanding any defect of jurisdiction in the commissioners. And if, where they are joined, the verdict be given against the petitioning creditor or creditors, they shall be liable to costs, to be taxed so as to include the costs the plaintiff has been obliged to pay the messenger defendant. Sect. 32. enacts, that proof in such actions that defendants are petitioning creditors, shall render them liable.

Decisions.-Obstruction to the messenger is a contempt of the great seal, 17 Ves. 59. 61. 1

laws of bankruptcy are considered as laws calculated for the benefit of trade, and founded on the principles of humanity as well as justice;

Rose, 1.; so, if any person indemnify another against the consequences of turning a messenger out of possession, 8 Ves. 104.; and it is no justification of resistance that the warrant was illegal. 1 Rose, 1. 1 Atk. 136. 8 Ves. 104. He seizes the property of the bankrupt at his own hazard, 17 Ves. 61.; but is protected by his warrant, see sect. 31. The new enactments, as to actions against the messenger, apply before appointment of assignees only. Therefore, when he is required to act in doubtful cases afterwards, he should secure himself by indemnity. Eden. Bkpt. L 70. He may maintain an action for his bill against the petitioning creditor up to the choice of assignees, 2 M. & S. 438.; and against them for subsequent charges, or they may be ordered on petition to pay him, 9 Ves. 109. 12 Ves. 353. even though the commission be supersedable 1 G. & J. 23. The solicitor is not liable to him unless by special agreement. 1 Holt, 376.; see also ib. 245. Sixthly, Proof of Debts.-Sect. 46. re-enacts, that at the three several meetings appointed by the commissioners in pursuance of section 25. ante, and at every other meeting by them appointed for proof of debts, every creditor may prove his debt by his own oath; and further, by a new enactment, provides, that "all bodies politic, and public companies incorporated or autho rized to sue or bring actions, either by charter or act of parliament, may prove by an agent, provided such agent shall in his deposition swear that he is such agent as aforesaid, and that he is authorized to make such proof." Creditors living remote may prove by affidavit before a master in chancery, ordinary, or extraordinary; or abroad, by affidavit sworn before a resident magistrate, and attested by a notary public, British minister, or consul," provided that every creditor may be examined by the commissioners on oath, orally or by interrogatories in writing. Sect. 47. re-enacts, that bona fide creditors shall be admitted to prove, notwithstanding any prior act of bankruptcy, provided the debt was not contracted subsequent to the creditor's knowledge of such prior act of bankruptcy. Sect. 48. enacts, that commissioners may (in case so much is due) order six months' wages of servants or clerks of bankrupt to be paid, and such servants or clerks shall be at liberty to prove under the commission for any sum exceeding the amount so paid to them. Sect. 49. enacts, that apprentices shall be discharged from their indentures by the bankruptcy of masters, and authorizes the commissioners to order such part of any premium which may have been paid, to be returned, as they under the circumstances may deem proper. Sect. 51. re-enacts, that debts not payable at the time of the bankruptcy, may be proved, deducting rebate of interest, to be computed from the declaration of a dividend to the time such debt would have become payable, according to the terms upon which it was contracted. Sect. 52. Sureties, persons liable for the debts of, or bail for the bankrupt, either to the sheriff or to the action, may prove after having paid such debts (though such payment be after commission issued), if they have contracted the liability without notice of any act of bankruptcy (notice that he was insolvent or had stopped payment omitted.) Sect. 53. re-enacts, that obligee in bottomy or respondentia bonds, and assured in policy of insurance, shall be admitted to claim, and after loss to prove, as if the loss or contingency had happened before commission issued against such obligor or insurer. And the person effecting the insurance shall be entitled to prove the loss in case the person interested is not within the united realm. Sect. 54. re-enacts, that annuity creditors shall be admitted to prove for the value thereof, and adds, “regard being had to the original price given for the said annuity, deducting therefrom such diminution in the value thereof as shall have been caused by the lapse of time, since the grant thereof to the date of the commission." Sect. 55. enacts, that no person entitled to an annuity granted by the bankrupt, shall sue any person who may be collateral surety for the payment thereof, until such annuitant shall have proved under the commission for the value and the arrears thereof, and if such surety pay the amount so proved, he shall be discharged from all further claim; but if he do not, before any payment on the annuity, subsequent to the bankruptcy, be due, pay the value so proved, he may be sued for the accruing payments, until such annuitant shall have been paid the value thereof so proved, with interest at four per cent. per annum, from the time of notice of such proof, and of the amount thereof being given to such surety. And after such payment, such surety shall stand in the place of such annuitant in respect of such proof as aforesaid, to the amount so paid, and the certificate of the bankrupt shall be a discharge to him from all claims of such annuìfant, or of such surety in respect of such annuity, provided that such surety shall be entitled to credit in account with such annuitant for any dividends received by such annuitant under the commission, before such surety shall have fully paid or satisfied the amount so proved as aforesaid. Sect. 56. enacts, that debts contingent at the time of the bankruptcy may be valued, and the amount proved under the commission, or if the value be not so ascertained before the contingency happen, then such debt may be proved and dividends received thereon, not disturbing any former dividends, provided such creditor had no notice of any act of bankruptcy when such debt was contracted. Sect. 57. enacts, that interest shall be allowed on bills of exchange and promissory notes, at such rate as is allowed by the king's bench in actions on such bills. Sect. 58. enacts, that if the plaintiff in an action at law, or suit in equity, or petitioner in bankruptcy or lunacy, shall have obtained any judgment, decree, or order, for any debt or demand proveable under the commission, he shall also be entitled to prove for his costs. (See Eden Bankrupt L. 129.) Sect. 59. re-enacts, that proving a debt shall be an election not to proceed by action, or if action be commenced, the creditor shall not prove till he has relinquished it. It further provides, "and in case such bankrupt shall be in prison or custody at the suit of, or detained by, such creditor, he shall not prove or claim as aforesaid, without giving a sufficient authority in writing for

and to that end they confer some privileges, not only on the creditors, but also on the bankrupt or debtor himself. On the creditors; by compelling

the discharge of the bankrupt." "Provided also, that if any creditor elect to prove or claim as aforesaid, if the commission be afterwards superseded, he may proceed in the action as if he had not so elected, and in bailable actions shall be at liberty to arrest the defendant de novo if he has not put in bail below or perfected bail above; or if the defendant has put in or perfected such bail, to have recourse against such bail, by requiring the bail below to put in and perfect bail above within the first eight days in term, after notice in the London Gazette of the superseding such commission, and by suing the bail upon their recognizance if the condition thereof is broken." Sect. 60. enacts, that commissioners, may expunge proof of any debts, upon representation by the assignees, or two creditors each to the amount of 20%, and satisfactory evidence that such debt is not justly due, the persons requiring the investigation to sign an undertaking to pay such costs as the commissioners shall award to the creditor who has proved such debt. But the application may be in the first instance to the lord chancellor, and either party may petition against the determination of the commissioners. Sect. 62. re-enacts 3 G. IV. c. 31. s. 10., by which a joint creditor is entitled to prove under a separate commission for the purpose of voting in the choice of assignees, but not to receive any dividend until all the separate creditors are paid in full, (and adds) unless such creditor shall be a petitioning creditor in a commission against one member of a firm.

Decisions.-Commissioners may inquire into the consideration of a debt, notwithstanding a verdict, and reject it on equitable grounds, 1 Rose, 192.; so in case of an award, 1 Rose, 149. Collector may prove for taxes, assessor for assessments, 2 B. & B. 388. Co. B. L. 121. 1 Mont. Dig. 143.; and one inhabitant may prove on behalf of all against a bankrupt collector, 1 Atk. 111.; but where there is a solvent collector he must prove, Co. B. L. 144.; so an admiral on behalf of self and crew against navy agent. 1 Mont. Dig. 143. Trustee and cestui que trust must join in proof, 1 Cox, 310.; so assignor and assignee of bond. 1 Mont. Dig. 145. A bankrupt executor cannot prove on his own estate without an order of court, 1 G. & J. 127. 163. n., and the court sometimes orders the dividends in such cases to be paid into the bank. 3 Bro. C. C. 197. 1 G. & J. 162. n. A bankrupt trustee and executor who had committed waste, was precluded from proving against his own estate, and leave given to a legatee on behalf of himself and others to prove with similar direction as to dividends, 2 Rose, 413.; and in such cases the court makes such order as will best protect the rights of parties. 3 Bro. C. C. 198. Guardian on petition may prove for an infant. 2 Bro. C. Č. 306. 1 Atk. 251. And another person for one deranged. i Rose, 387. When proof inadmissible.-No part of a demand (except as far as the law is altered with respect to bills of exchange by 58 G. III c. 93.) arising upon an usurious contract is proveable, 1 Atk. 125. 2 Ves. 489. 1 Rose, 161.; but if a security be given for sum really advanced with legal interest, where the contract was originally usurious, it is valid. 2 Taunt. 184. 1 Campb. 167. n. Debts on any other species of illegal contract cannot be proved; as for goods to send to India, contrary to the statute, if the creditor knew their destination, Co. B. L. 203. 14 Ves. 191.; for money advanced in furtherance of illegal contract, 1 M. & S. 751.; but if part of the consideration be legal, so much may be proved for, 3 Ves. 373. 13 Ves. 314, 3 T. R. 418., 1 H. B. 462.; if on contract with alien enemy not proveable, Buck, 93.; but if contracted when nations are at peace, the right is merely suspended during war, and the dividends shall be reserved. 13 Ves. 71. Statute of limitations is a bar to proof, although bankrapt admit the debt, 15 Ves. 498 2 Rose, 245.; inadequacy of consideration is an objection. 1 Bro. C. C. 267. A voluntary bond may be proved, but only to be paid out of surplus, 2 Sch. & Lef. 228.; but bond given for arrears thereon is a good consideration. 9 Ves. 612. Final judgment in trespass, signed after act of bankruptcy, but before issuing commission, the demand is proveable. 2 B. & Č. 762. Proof cannot be admitted of a bond to settle property of the husband upon the contingency of his becoming bankrupt, and any limitation in a marriage settlement to a similar effect is void against creditors. 19 Ves. 88. Ca. Temp. King, 46. 8 Ves 352. But wife's property may be so settled. 2 Stra. 947. 8 Ves. 353. 1 Sch. & Lefroy, 179. 14 Ves. 598. Ba. & Be. 252 257. Buck, 179. 3 Madd. 124. In bond to replace stock on request, if no request before the bankruptcy, the value will probably be taken by the price on the day commission issued. 7 Ves. 303. 1 Mont. Dig. 229. Damages. If contingent and uncertain, as in some cases founded in contract, and in all cases of torts, where the right to, and the amount of, damages depend on circumstances to be judged of by a jury, they are not proveable under a commission, Cullen, 110.; but if, though the action be for damages, the demand is of such a nature as admits of being liquidated and ascertained, at the time of the bankruptcy, so that he can swear to the amount, he is entitled to prove, ib. ; as for goods sold, work and labour without agreement for price, as that can be easily ascertained. Ib. Doug 167. If the demand be of a mixed nature, as for not delivering goods already paid for, 3 T. R. 546, 8.; pledging a debenture, when it has been deposited with bankrupt as a collateral security only, Dough. 167.; in these and such like cases, if the party will wave the tort, he may prove for the amount of the money paid, the value of the debenture, &c. Nor upon breach of covenant, though a specific penalty be reserved. 3 Wils. 270. 112. n. 7 T. R. 614. Proof after composition deed.-If second instalment is not paid, creditors may retain the first and prove for the residue of the original debt, 1 Rose. 281.; but where, before the third became due, a bankruptcy took place, the outstanding instalment was alone admitted to be proved, as there was no previous default and nothing then due. 1 Rose, 435. If a creditor conceal his own debt to induce others to agree to an ar

the bankrupt to give up all his effects to their use, without any fraudulent concealment : on the debtor, by exempting him from the rigour of the ge

rangement, and the composition took effect, he was not permitted to prove his own debt, I Anst. 202. 1 Esp. Rep. 132. 11 Ves. 40., otherwise if it did not take effect. 1 Rose, 138. Proof by creditor holding security, cannot be admitted without exhibiting and giving up security or as certaining its value, 2 Rose, 64.; proof of lost bill admitted on indemnity given. 6 Ves. 812. If creditor has joint security he need not deliver it up, but may first recover from the co-surety what he can, and then take his dividend of the bankrupt's estate upon the whole demand, provid ed he does not receive more than 20s. in the pound in the whole. Co. B. L. 137. 2 Atk. 258. 1 Rose, 76. vide 3 Madd. 373. Bonds, bills of exchange, and other personal securities, may be sold in the same manner as an estate. Co. B. L. 138 But a second mortgagee, not claiming under the commission, cannot be compelled to join in a sale obtained by a prior mortgagee. 3 Ves. 357. 1 Madd. 38. The court has power to determine upon the validity of an equitable mortgage, 1 Madd. 331. 2 Swa. 360.; or delegate the inquiry to the commissioners; or direct an issue in doubtful cases, 2 Swa. 363.; when established commissioners take an account of what is due. An application to allow assignees to bid, cannot be made but in very special circumstances. 1 G. & J. 12. Where a creditor holding a security is desirous of voting in the choice of assignees, the court will sometimes permit proof of the debt, deducting the value of the pledge and imposing terms, that justice may be done to the estate. 2 J. & W. 221. 1 Rose, 322. 324. 2 ib. 64. Buck, 323. But not on goods taken in a disputed execution, 1 J. & W. 423., but may for the difference when turned into noney. 2 J. & W. 220. 1 G. & J. 63. If creditor has two demands, one proveable the other not, he may apply a pledge or security in the first place to reduce the nonproveable demand. Co. B. L. 140. 6 Ves. 94. If a party has a lien upon the property of the bankrupt and he proves for his debt, he cannot resume the lien, 1 G. & J. 25. Buck, 351.; the same in case of mortgage. 18 Ves. 290. 1 Rose, 96. Proof on bills or notes for valuable consideration.-Bill of exchange refused payment by acceptor after bankruptcy of the drawer, may be proved under commission against the drawer, 7 East, 455., and this may be even before the bill is due, and before presentment for acceptance. 4 B. & A. 67. If indorser for valuable consideration take up bill after bankruptcy of acceptor he may prove it. Co. B. L. 178. 7 T. R. 570. 3 Ves. 304. 2 B. & P. 180. So accommodation indorser without privity of acceptor, taking up bill is entitled to prove. 3 East, 177. If a bill be delivered as a pledge, even with indorsement, if it be clear that a mere deposit is intended, the residue after the sale of the bill is proveable under the commission. Co. B. L. 139. Buck, 171. S Madd. 117. 19 Ves. 232. Notes bought up after the bankruptcy of the maker cannot be prov ed, unless the party possessing them at the date of the commission could have proved. Buck, 490. sed vide Buck, 479. A bankrupt may indorse after his bankruptcy, if he has previously delivered the bill for valuable consideration, forgetting to indorse. Peake Rep. 50. 1 Campb. 492. And assignees have been ordered to indorse such a bill, but so as to secure them from personal liability. 13 Ves. 206. 1 J. & W. 428. Accommodation bills are proveable by bona fide holders, Cullen, 97. Chitty on Bills, 442.; but not as between the accommodation parties, nor can a person taking up a bill for the honour of the drawer, prove against estate of acceptor without effects. 13 Ves. 179 Where two agree that one shall accept and pay on account of the other, and a third who has effects in the hands of the latter shall draw, though he has no effects in the hands of the acceptor, the drawer may prove against the estate of the acceptor, as he assumes the liability which belonged to the other. 1 Atk. 630. In cases of cross acceptance, the payment made by a party on his own acceptance cannot be proved under a commission against the other acceptor, although no payment has been made by the latter on his acceptance, the only proof being on the cross bill. 7 T. R. 565. 3 East, 72. Chitty on Bills, 444. Amount of Proof. The holder of a bill is entitled to prove his debt under a commission against any of the parties to it, and to receive a dividend from each upon his whole debt, provided he does not in the whole receive more than 20s. in the pound. But if he apply to prove after having received part, he can only prove for the remainder; whereas, if he prove first, and receive part after, be is entitled to his dividend on the whole debt proved, but he cannot receive in the whole more than 20s. in the pound. Co. B. L. 164. Cull. 96. 2 Ves. 113. 1 Atk. 109. See 2 B. & P. 62. And it makes no exception to this rule, that the creditor being not prepared to prove, has entered a claim for the whole sum; for if a dividend is afterwards declared (though not paid) upon the other commissions, he is only entitled to prove for the residue, deducting such dividend. 1 Cox, 309. 2 Rose, 198. 202. n. Where a bill has been pledged as a collateral security, the holder may prove to the whole amount of the security against any of the parties, except his debtor, but against his estate only for the amount of his debt, and may receive dividends under all. Co. B. L. 168. 6 Ves. 600. 1 Rose, 10. 2 ib. 87. Where bankrupt gave a bill to A. for goods supplied to B., A. could prove for the amount of the goods only, and not the full amount of the bill. Buck. 381. Wherever the holder of a bill of exchange or promissory note might, by suit at law or in equity, compel payment, he may, in the event of the party liable becoming bankrupt, prove the amount under the commission, and whatever would be a defence to such suit, would be a valid objection to such proof. Bayl. 191. The cases on the several points are Consideration, Co. B. L. 203. 2 Ves. 489. 3 Ves. 373. 13 Ves. 313. Chitty on Bills, 81.-Usury, 1 Stark. 385.-Statute of Limitations, 15 Ves. 479. - Objections of form, 4 Ves. 372. 2 Rose, 225. Buck. 31.-Stamp, 1 Rose, 68.-Fictitious payees, 3 Bro. C. C. 238. 1 Camp. 180.—Sufficiency of acceptance, 6 Ves. 9.-Laches, Co. B. L. 180. V.

« ZurückWeiter »