BANKRUPT. paid by them. § 52. That any person who at the issuing the commission shall be surety or liable for any debt of the bankrupt, or bail for the bankrupt, (6 Geo. 4.c.16.) either to the sheriff or to the action, if he shall have paid the debt, or Sureties, &c. any part thereof in discharge of the whole debt (although he may have may prove debts paid the same after the commission issued) if the creditor shall have proved his debt under the commission, shall be entitled to stand in the place of such creditor as to the dividends and all other rights under the said commission which such creditor possessed or would be entitled to in respect of such proof; or if the creditor shall not have proved under the commission, such surety or person liable, or bail, shall be entitled to prove his demand in respect of such payment as a debt under the commission, not disturbing the former dividends, and may receive dividends with the other creditors, although he may have become surety, liable, or bail as aforesaid, after an act of bankruptcy committed by such bankrupt; provided that such person had not, when he became such surety or bail, or so liable as aforesaid, notice of any act of bankruptcy by such bankrupt committed. Obligee in bottory or respondentia bonds, and assured in policies may claim; and prove after § 53. That the obligee in any bottomry or respondentia bond, and the assured in any policy of insurance made upon good and valuable consideration, shall be admitted to claim, and after the loss or contingency shall have happened, to prove his debt or demand in respect thereof, and receive dividends with the other creditors as if the loss loss. or contingency had happened before the issuing the commission against such obligor or insurer; and that the person effecting any policy of Assurers may insurance upon ships or goods with any person, as a subscriber or underwriter, becoming bankrupt, shall be entitled to prove any loss to which such bankrupt shall be liable in respect of such subscription, although the person so effecting such policy was not beneficially interested in such ships or goods, in case the person or persons so interested is not or are not within the United Realm. of 54. That any annuity creditor of any bankrupt, by whatever assurance the same be secured, and whether there were or not any arrears such annuity due at the bankruptcy, shall be entitled to prove for the value of such annuity, which value the commissioners shall ascertain, 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. § 55. That it shall not be lawful for any person entitled to any annuity granted by any bankrupt, to sue any person who may be collateral surety for the payment of such annuity, until such annuitant shall have proved under the commission against such bankrupt for the value of such annuity, and for the payment thereof; and if such surety after such proof pay the amount proved as aforesaid, he shall be thereby discharged from all claims in respect of such annuity; and if such surety shall not (before any payment of the said annuity subsequent to prove. Annuity credi tor admitted to prove. Sureties for pay ment of annui ties how to come in under commission. BANKKUPT. the bankruptcy shall have become due) pay the sum so proved as (6 Geo. 4. c. 16.) aforesaid, he may be sued for the accruing payments of such annuity, until such annuitant shall have paid or satisfied the amount so proved, with interest thereon at the rate of 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 or satisfaction, such surety shall stand in the place of such annuitant in respect of such proof as aforesaid, to the amount so paid or satisfied as aforesaid by such surety; and the certificate of the bankrupt shall be a discharge to him from all claims of such annuitant 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. Debts contingent at the time of the bankrupt cy, may be proved after happening of contingency. Interest on promissory notes and bills of exchange proveable. Assignees to be chosen at second meeting of com missioners. 56. That if any bankrupt shall, before the issuing of the commission, have contracted any debt payable upon a contingency which shall not have happened before the issuing of such commission, the person with whom such debt has been contracted may, if he think fit, apply to the commissioners to set a value upon such debt, and the commissioners are hereby required to ascertain the value thereof, and to admit such person to prove the amount so ascertained, and to receive dividends thereon; or if such value shall not be so ascertained before the contingency shall have happened, then such person may after such contingency shall have happened, prove in respect of such debt, and receive dividend with the other creditors, not disturbing any former dividends; provided such person had not, when such debt was contracted, notice of any act of bankruptcy by such bankrupt committed. § 57. That in all future commissions against any person or persons liable upon any bill of exchange or promissory note, whereupon interest is not reserved, overdue at the issuing the commission, the holder of such bill of exchange or promissory note shall be entitled to prove for interest upon the same, to be calculated by the commissioners to the date of the commission, at such rate as is allowed by the Court of King's Bench in actions upon such bills or notes. § 58. That plaintiff obtaining judgment, &c. shall be entitled to prove for costs, &c. § 59. That proving a debt by award under a commission shall be an election not to proceed against the bankrupt by action, but creditors having elected to come in under the commission, if it be afterwards superseded, are restored to their former rights. 60. That commissioners may expunge proof of debts, and persons requiring investigation to sign undertaking for costs. § 61. That at the second meeting appointed by the commissioners as aforesaid, or any adjournment thereof, assignees of the bankrupt's estate and effects shall be chosen; and all creditors who have proved BANKRUPT. debts under the commission to the amount of ten pounds and upwards shall be entitled to vote in such choice; and also any person authorized (6 Geo. 4. c. 16.) by letter of attorney from any such creditor or creditors, upon proof of the execution thereof, either by affidavit sworn before a Master in Chancery, ordinary or extraordinary, or by oath before the commissioners viva voce, and in case of creditors residing out of England, by oath before a magistrate where the party shall be residing, duly attested by a Notary Public, British Minister or Consul, and the choice shall be made by the major part in value of the creditors so entitled to vote: provided that the commissioners shall have power to Commissioners reject any person so chosen who shall appear to them unfit to be such may reject those assignee as aforesaid, and upon such rejection a new choice of another assignee or assignees shall be made as aforesaid. 62. That in all commissions against one or more of the partners of a firm, any creditor to whom the bankrupt or bankrupts is or are indebted, jointly with the other partner or partners of the said firm, or any of them, shall be entitled to prove his debt under such commission for the purpose only of voting in the choice of assignees under such commission, and of assenting to or dissenting from the certificate of such bankrupt or bankrupts, or of either of such purposes; but such creditor shall not receive any dividend out of the separate estate of the bankrupt or bankrupts until all the separate creditors shall have received the full amount of their respective debts, unless such creditor shall be a petitioning creditor in a commission against one member of a firm. § 63. That the commissioners shall assign to the assignees, for the benefit of the creditors of the bankrupt, all the present and future personal estate of such bankrupt wheresoever the same may be found or known, and all property which he may purchase, or which may revert, descend, be devised or bequeathed or come to him, before he shall have obtained his certificate; and the commissioners shall also assign as aforesaid all debts due or to be due to the bankrupt wheresoever the same may be found or known, and such assignment shall vest the property, right, and interest in such debts in such assignees, as fully as if the assurance whereby they are secured had been made to such assignees; and after such assignment, neither the bankrupt nor any person claiming through or under him shall have power to recover the same, nor to make any release or discharge thereof, neither shall the same be attached as the debt of the bankrupt by any person according to the custom of the city of London or otherwise, but such assignees shall have like remedy to recover the same in their own names as the bankrupt himself might have had if he had not been adjudged bankrupt. chosen. Joint creditor may prove under separate commission for voting for assig nees; but not to receive dividend, unless, &c. Commissioners to convey the personal estate to the assignees, and debts due to the bankrupt. § 64. That the commissioners shall, by deed indented and enrolled in Commissioners any of His Majesty's Courts of Record, convey to the said assignees, for to convey bankthe benefit of the creditors as aforesaid, all lands, tenements, and hereditaments, except copy or customaryhold in England, Scotland, Ireland, rupt's real estate to assignees. BANKRUPT. or in any of the dominions, plantations, or colonies belonging to His (6 Geo. 4. c.16.) Majesty, to which any bankrupt is entitled, and all interest to which such bankrupt is entitled in any of such lands, tenements, or hereditaments, and of which he might, according to the laws of the several countries, dominions, plantations, or colonies have disposed, and all such lands, tenements, and hereditaments as he shall purchase, or shall descend, be devised, revert to, or come to such bankrupt before he shall have obtained his certificate, and all deeds, papers, and writings respecting the same, and every such deed shall be valid against the bankrupt, and against all persons claiming under him: provided, that where according to the laws of any such plantation or colony such deed would require registration, enrolment, or recording, the same shall be so registered, enrolled, or recorded, according to the laws of such plantation or colony, and no such deed shall invalidate the title of any purchaser for valuable consideration prior to such registration, enrolment, or recording, without notice that the commission has issued. Proviso as to registration of conveyance of colo nial property. Commissioners may make sales of hereditaments whereof the bankrupt is seised of any estate tail, &c. Any conveyance or assignment may be vacated by Chancellor. New assignment by commission to vest the personal estate in new assignees. $65. That the commissioners shall by deed, indented and enrolled as aforesaid, make sale for the benefit of the creditors as aforesaid of any lands, tenements, and hereditaments, situate either in England or Ireland, whereof the bankrupt is seised of any estate tail in possession, reversion, or remainder, and whereof no reversion or remainder is in the Crown, the gift or provision of the Crown, and every such deed shall be good against the said bankrupt and the issue of his body, and against all persons claiming under him after he became bankrupt, and against all persons whom the said bankrupt by fine, common recovery, or any other means, might cut off or debar from any remainder, reversion, or other interest, in or out of any of the said lands, tenements, and hereditaments. $66. That the Lord Chancellor may, upon petition, order any conveyance or assignment either of the real or personal estate of the bankrupt, made either to assignees appointed by the commissioners or chosen by the creditors, and any enrolment thereof, to be vacated, provided that no title of any purchaser under any conveyance prior to such order be thereby affected; and that no estate previously barred be thereby revived; and may order the commissioners to execute a new assignment or assignments of the debts and effects unreceived and not disposed of by the then assignee or assignees to any other person or persons to be chosen by the creditors as aforesaid, or to execute a new conveyance of the real estate unsold or not conveyed to such person or persons, and in such manner as the Lord Chancellor shall direct; and if such new assignment shall be ordered, the debts and personal estate of the bankrupt shall be thereby vested in such new assignees, and it shall be lawful for them to sue for the same, and to discharge any action or suit, or to give any acquittance of such debts, as effectually as the former assignees might have done; and the commissioners shall, in the two London Gazettes next after the removal of such assignee or assignees, and such new BANKRUPT. New convey ance of real estate by commission shall pass the estate to new assignees. appointment as aforesaid, cause advertisements to be inserted giving notice of such removal and appointment, and directing persons indebted (6 Geo. 4. c. 16.) to the bankrupt's estate not to pay any debt to the assignee or assignees so removed; and if such new conveyance as aforesaid shall be ordered as aforesaid, it shall be valid without any conveyance from any former assignee or assignees, or his or their heirs or assigns, provided that the order so made for vacating any bargain and sale be enrolled; and any bargain and sale to be executed in pursuance thereof shall be enrolled in the same court as the first bargain and sale of the same estate was enrolled. § 67. That suits shall not abate by death or removal of assignees. 68. That the commissioners shall have power, by deed indented and enrolled in any of His Majesty's Courts of Record, to make sale, for the benefit of the creditors, of any copyhold or customaryhold lands, or of any interest to which any bankrupt is entitled therein, and thereby to entitle or authorize any person or persons on their behalf to surrender the same for the purpose of any purchaser or purchasers being admitted thereto. § 69. That every person, to whom any sale of copyhold or customary lands or tenements shall be made by the commissioners, shall, before he enter into or take any profit of the same, agree and compound with the Lords of the Manors of whom the same shall be holden, for fines, dues, and other services as theretofore have been usually paid for the same, and thereupon the said lords shall, at the next or any subsequent court to be holden for the said manors, grant unto such vendee, upon request, the said copy or customary lands or tenements for such estate or interest as shall have been so sold to him as aforesaid, reserving the ancient rents, customs, and services, and shall admit him tenant of the same. § 70. That if any bankrupt shall have granted, conveyed, assured, or pledged any real or personal estate, or deposited any deeds, such grant, conveyance, assurance, pledge, or deposit being upon condition or power of redemption at a future day, by payment of money or otherwise, the assignees may, before the time of the performance of such condition, make tender or payment of money, or other performance, according to such condition, as fully as the bankrupt might have done, and after such tender, payment, or performance, may sell and dispose of such real or personal estate for the benefit of the creditors as aforesaid. Commissioners may make sale of copyhold lands. Vendees of copyhold lands shall compound with the lord for their fines. Conditional estates granted by the bankrupt may be redeem ed. when the bankrupt by fraud may proceed makes himself accountant to 71. That if any real or personal estate or debts of any bankrupt Commissioners be extended after he shall have become bankrupt, by any person, under pretence of his being an accountant of or debtor to the King, the commissioners may examine upon oath, whether the said debt was due to such debtor or accountant upon any contract originally made be- the King. tween such accountant and the bankrupt, and if such contract was originally made with any other person than the said debtor or accountant, |