Mercantile CreditH. Holt, 1913 - 382 pages |
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adjustment bureau amendment appoint assets assignee asso Association of Credit attorney banker Bankruptcy Act bill bill of exchange bill of lading book account bulk sales laws buyer capital cash cent charge claimed collection commercial Committee Congress corporations countries credit department credit exchange bureaus credit information credit men credit men's associations credit standing customers debtor discharge district English law failure favor fees filing fraud fraudulent funds furnished given House insolvency laws interest inventory investigation investment involuntary bankruptcy jobber judge lative latter liabilities loans manufacturer ment mercantile agencies mercantile credit merchandise merchant methods National Association organized paid passed pay his debts payment personal credit petition prefer creditors preference promissory note property statement provisions purchaser purpose receive repeal reports retailer rupt ruptcy salesman secure sell seller signed statement sold Supreme Court term of credit tion trade trustees United voluntary
Popular passages
Page 319 - Acts of bankruptcy by a person shall consist of his having (1) conveyed, transferred, concealed, or removed, or permitted to be concealed or removed, any part of his property with intent to hinder, delay, or defraud his creditors, or any of them...
Page 280 - ... what belongs exclusively to the one, and not to the other class of laws. It is said, for example, that laws which merely liberate the person are insolvent laws, and those which discharge the contract are bankrupt laws. But if an act of congress should discharge the person of the bankrupt, and leave his future acquisitions liable to his creditors, we should feel much hesitation in saying that this was an insolvent, not a bankrupt act ; and therefore unconstitutional. Another distinction has been...
Page 319 - States as a holiday or as a day of public fasting or thanksgiving; (15) a person shall be deemed insolvent within the provisions of this act whenever the aggregate of his property, exclusive of any property which he may have conveyed, transferred, concealed, or removed, or permitted to be concealed or removed, with intent to defraud, hinder or delay his creditors, shall not, at a fair valuation, be sufficient in amount to pay his debts...
Page 336 - ... and such trustees, as to all property in the custody or coming into the custody of the.bankruptcy court, shall be deemed vested with all the rights, remedies, and powers of a creditor holding a lien by legal or equitable proceedings...
Page 261 - But still they are cautious of encouraging prodigality and extravagance by this indulgence to debtors; and therefore they allow the benefit of the laws of bankruptcy to none but actual traders; since that set of men are, generally speaking, the only persons liable to accidental losses, and to an inability of paying their debts, without any fault of their own.
Page 319 - ... suffered or permitted, while insolvent, any creditor to obtain a lien upon any of his property through legal proceedings and not having vacated or discharged such lien within thirty days from the date thereof or at least five days before the date set for any sale or other disposition of such property...
Page 258 - The power of establishing uniform laws of bankruptcy is so intimately connected with the regulation of commerce, and will prevent so many frauds where the parties or their property may lie or be removed into different States, that the expediency of it seems not likely to be drawn into question.
Page 358 - It is evidently of that kind which has been so frequent of late, a kind which is meant to protect some class in the community against the fair, free and full competition of some other class, the members of the former class thinking it impossible to hold their own against . such competition, and, therefore, flying to the legislature to secure some enactment which shall operate favorably to them or unfavorably to their competitors in the commercial, agricultural, manufacturing or producing field.
Page 322 - States; or (5) admitted in writing his inability to pay his debts and his willingness to be adjudged a bankrupt on that ground.