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BANKRUPTCY-(continued.)

Reducing, expunging, and restoring proofs-(continued.) what will amount to the one or the other, 469.

when proof may be restored for benefit of another party, 469, 470.

remedy to recover dividends. 470.

enactment of the stat. 40 Geo. 3. in this respect, 470.

Seventhly. The consequence of not proving, and the effect of certificate, 470 to 473.

the effect of certificate, and how far bankrupt discharged thereby, 470.

in what cases the certificate is no bar, 471.

bankrupt discharged from a debt in one firm cannot be charged by creditor with same debt in another

472.

but sometimes the creditor is able to shape his action
as a tort, in which case certificate no bar, 472.
effect of certificate avoided by a fresh contract, 472.
such contract must be express, 473.

V. Of mutual credit and set-off, 473 to 480.

mutual demands may be set-off against each other, 472. enactment of the stat. 5 Geo. 2. c. 30, in this respect, 473. 4 Geo. 3. c. 135. 474.

in these statutes the word "credit" more effective than the word "debt," 474.

arranged under three heads;

1. The nature of the debt, and consideration upon which founded, 474 to 476.

what debt may be set-off, and what constitutes a mutual credit, 474, 5, 6.

legacy after admission by executor may be setoff, 475.

illegality of consideration will not prevent the setting-off what is equitably due, 475.

and if assignees confirm acts of bankrupt by suing in assumpsit, instead of for a tort, set-off allowed, 475.

[476.

2. The parties between whom the mutual credit_may
exist, 476, 7.
debt must be due from both, in their own right,
a joint debt cannot be set-off against a separate
one, 476.

governed by same rules as prevail at common
law, 477.

under separate commissions set-off disallowed against a separate creditor indebted to partnership in a larger sum, 477.

in what other cases allowed, 477.

3. Time when the debt or credit arose, 477 to 480.
both debts must accrue before bankruptcy, or two
months before commission, in case of a secret
act, 477, 8.

CHITTY ON BILLS.

yet if such debt be a credit, though not before the act, it may be set-off, 478.

3 X

BANKRUPTCY-(continued.)

V. Of mutual credit and set-off-(continued.)

3. Time when debt or credit arose-(continued.)

if demand arise on a bill payable after, but made before bankruptcy, set-off is allowed, 478.

a bill payable unconditionally given to a surety, may set-off, 478.

person lending notes of hand, and receiving a memorandum may set-off amount of any note paid by him after bankruptcy, against sum due from him to the bankrupt, 478.

a bill or note indorsed after bankruptcy cannot be set-off, though it may be proved, 478.

and therefore incumbent on such person to show
that he got the bill, &c. before bankruptcy, 478.
possession by payee, how far evidence of the,
478, 9.

what other evidence sufficient in this respect, 479.
a bill bona fide indorsed before act of bankruptcy,
and taken up and paid by him after such act
cannot be set-off, 479.

provision of the stat. 46 Geo. 3. c. 135, in relation
to mutual credit, 470, 480.

VI. General effect of bankruptcy on the property of the bankrupt, and of others, 480 to 486.

arranged under two heads, 480.

1. The property of the bankrupt, and contracts entered into by him, 480, 1.

property of the bankrupt in hands of assignees generally affected as if in his own hands, 480.

assignment of a debt for value by bankrupt before bankruptcy, when binding on assignee, 480.

indorsement of a bill after bankruptcy, but delivered before it is valid, 480.

and if bankrupt not beneficially interested, he may do any act respecting it as if he were not bankrupt, 480. where bankrupt drew a bill, partly for value and partly not, how much conveyed by his assignment,

481.

assignees cannot hold any property obtained by the bankrupt by fraud, 481.

when bills, &c. indorsed after bankrupt had dishonoured others, may be retained, 481.

indorsement after secret act of bankruptcy, protected by statute, 481.

what other payments protected by statute, 481.

acceptance of bills does not bar vendor's right to stop goods in transitu upon bankruptcy of vendee, 481. 2. The property of others, 482 to 486.

a banker has a general lien on bills paid into his hands generally, 482.

a person has a lien on all property in his hands, for which he has accepted a bill after the bankruptcy of the owner, 482.

property in possession of bankrupt, though he be not the real owner, will pass to his assignees, 482.

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BANKRUPTCY-(continued.)
The property of others-(continued.)

in case of the bankruptcy of a factor or banker, or
other person, what liens allowed on bills in their
hands, 482, 3, 4.

but bills delivered to a banker expressly on terms of discount, assignees entitled to them, 485.

what other cases assignees entitled, 485.

VII. Precedents of dispositions in case of bankruptcy.-(See "Appendix," 519 to 523.)

VIII. Miscellaneous Points.

does not affect obligee's right of action after assignment, 7.
of one partner disables him from using name of firm, so as to
render co-partners liable, 35. 115.

on bankruptcy of stock broker's proof under commission of pro-
missory notes given upon a stock-jobbing transaction, how far
restrained, 80.

as far as it regards transfers, relates only back to the time of the suing forth of the commission, 117.

a trader cannot, in contemplation of, make a voluntary indorse-
ment, 121.

but it must appear that such indorsement was in contemplation
of bankruptcy, 121.-(See "Fraudulent Preference.")
if bill transferred through urgency of the demand the contem-
plation of secrecy in the transaction will not vitiate, 121.
bill returned to indorsers, in contemplation of, is not a fraudu-
lent preference, 121.

of a drawer and acceptor of a bill, &c. gives indorsee a lien on
drawer's effects in hands of acceptor, 141.

of the acceptor of an accommodation bill, indorser for like accommodation who pays the bill, may prove under the commission, 146.

of the drawer when it, prevents drawee from accepting or paying, 170.-(See "Bankrupt.")

after secret act of by trader, consigning goods to a factor, how far such factor is obliged to repay the money to assignees, 170. accommodation acceptor, holder of a counter bill given as an indemnity by the drawer, may prove under drawer's commission of, 195.

notwithstanding the bankruptcy of the drawer of an accommodation bill, acceptor may retain money of drawer's in his hands till bill be due, 196.

of the drawee of a bill no excuse for omission to give due notice of dishonour, 210.

the same with regard to drawer or indorser of a bill, or indorser of a note, 215. 226.

of drawer, after drawing bill, if acceptance refused, holder may immediately prove under the commission, 231.

on bankruptcy of the drawer or drawee, equity will compel an acceptor supra protest, to resort to drawer's estate, 243.(See Acceptance supra protest.")

of the acceptor of a bill, does not excuse omission of presentment for payment, 246.

BANKRUPTCY―(continued.)

VIII. Miscellaneous points-(continued.)

of an agent having received money from maker of a note to pay, offers it to holder, who cannot find note on the bankruptcy of agent, maker still liable, 283.

after notice of an act of bankruptcy, banker cannot pay the
check of his customer, 282.

but till a commission has issued, bankrupt may sue, 282.
holder of a bill giving time to acceptor, who afterwards com-
mits a secret act of bankruptcy and pays them, such payment
is not in the usual course of trade, 283.

A. having got a verdict against B. who then commits an act of,
and A. without notice, takes a bill from B. which is duly paid,
A. must refund to B's. assignees, 283.

the same where bankers have accepted accommodation bills for a trader, who then commits an act of bankruptcy, but before commission issued, lodges money with them to pay them, 283. the same. where bankers paid a bill for acceptor after a secret act of bankruptcy, and he remitted them money to pay themselves, 284.

the same if they pay a check drawn on them after a secret act of bankruptcy, they cannot retain money received to cover such check, 284. 324.

when money recovered against a bankrupt in an action on a promissory note paid by him after a secret act of bankruptcy, it may be recovered again by the assignees, 284.

one count of the statute, 46 Geo. 3. c. 135, 284.

since this statute the 19 Geo. 2. c. 32, can only come in question when payment made within two months before suing out commission, 285.

holder of an accommodation bill, may prove under drawer's commission, though he has accepted security, and given time to acceptor, 295.

Effect at law of proving under a commission of bankruptcy, 301

to 303.

if acceptor be a bankrupt, holder may prove under commission without assent of other parties, 301.

but he must give regular notice of non-payment, 301.

if holder of a bill prove under indorser's commission, and afterwards compound with acceptor, such proof must be expunged, 303.

in case of bank notes cannot be followed as distinguishable from other money, 333.

when acceptor of a bill is bankrupt, and holder prove under commission, but who has not got certificate, he may be arrested and sued by the drawer if he has taken it up, 542. must be specially pleaded, 374.

to establish a set-off against assignees of bankrupt, evidence of possession of a bill, &c. before bankruptcy must be given, 398.

but if the act were several, evidence of possession, two calendar months before, is enough, 298.-(See " Evidence.")

of a firm, when it will not affect the competency of one of the members, proving that another had no authority to draw in name of firm, 414.-(See "Witness.")

BANKRUPTCY-(continued.)

Effect at law of proving under a commission of bankruptcy-(continued.) a person released from liability by bankruptcy, and certificate, is a competent witness to an action on a bill, the payment of which he guaranteed, 415, 16.

what amount of bill may be proved under two commissions in, 419, 20. (See "Damages.")

case of, where bills, &c. carry interest, 421.

BANKRUPT (See " Bankruptcy," "Fraudulent Preference.") who has assigned over a bond before his bankruptcy, may sustain an action on it, 7.

one partner who has become a bankrupt, is disabled from using name of firm, 35, 115.

this rule qualified, 117.

a contract made in consideration of signing certificate void, 80.
who has obtained his certificate in a foreign country, cannot be sued
in England, or an instrument drawn and to be performed there, 94.
cannot transfer bills, &c. 115.-(See " Bankruptcy.")

after a secret act of bankruptcy, cannot transfer bills, &c. by indorse-
ment, 115. but see. 119.-19 Geo. 2. c. 32.

doubtful whether the solvent partner without assignees consent can, 115. nor should a declaration on such note state the joint indorsement, 116. a trader who has become bankrupt, may indorse a bill delivered before his bankruptcy, 116.

and if he and his assignees refuse to do so, Chancellor will compel them, 116.

estate liable to the costs of such a proceeding, 116.

no estate in which he is not beneficially interested, passes to his assignees, 116.

many transfer an accommodation bill, 116.

a bill drawn for a sum of money, part of which is for his accommodation, 117.

but such indorsement is only valid as far as that accommodation sum goes, 117.

when they transfer bills before the suing forth of commission, by statute 19 Geo. 2. c. 32. 117.

enactment of that statute, 117. 283.

decisions on the act, 283, 4.

doubtful whether promissory notes are within this statute, 118, 284. a bill indorsed by, after an act of bankruptcy, but paid before the issuing of a commission, is within this statute, 119.

by a, for a debt for goods sold and paid, after the issuing thereof, it is valid, 119.

that such transfer is only valid when there are no suspicious circumstances of insolvency, 120.-(See "Insolvency.")

payments made, and contracts entered into by a bankrupt, two months before the date of commission, when valid, 120.

indorsement of a bill by, by way of fraudulent preference, invalid, 120. (See Fraudulent Preference.")

but a creditor pressing a trader to give such indorsement, the intention of the latter to become bankrupt, cannot be called in to vitiate it, 121.

uncertificated after the commission issued, receiving a note, legal interests vest in his assignees, 122.

when it does not, 122.

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