Page:Every Woman's Encyclopedia Volume 1.djvu/441

 419 LAW LAW AND MONEY MATTERS CoiHinueU /ivti fitj^r j<iS. t'arl i Married Women's Property A WOMAN, on her second marriage, holds the property of which she has ended the restraint, as her separate property, under the Married Women's Property Act. Equity has no power to dispense with the restraint, even for the benefit of the married woman ; but this has been modified by the Conveyancing Acts, and the court may. with the consent of a married woman and if it appears to be for her benefit, make an order binding her separate property, or some part of it, although she is restrained from anticipation. The court may remove the restraint on the request of a married woman to enable her to pay off her debts, but will not in general do so where such debts have been incurred by extravagance. The consent required by the Act need not be given by an acknowledged deed. Under the Married Women's Property Act, 1893, the court may order the costs of litigation of a married woman to be paid out of her separate estate which she is restrained from alienating. Equity to a Settlement By marriage the husband becomes entitled to all his wife's personal property, not being separate property. Where, however, the husband, unable to recover at law, was compelled to resort to equity in order to retain the property, equity would only lend its aid and allow him to receive it subject to his making a fair settlement to his wife out of it ; that is, subject to the wife's " equity to a settlement." This equity to a settlement does not depend upon any right of property in the wife, for the amount is in the discretion of the court, and can only be claimed for herself and children. The right of the wife, which was originally against the husband only, was extended to his trustee in bankruptcy and to purchasers from him for valuable consideration. The Married Women's Property Act All property belonging to a woman at the time of her " marriage is at her absolute disposal by will or otherwise, provided she was married on or after January i, 1883, or, being married before that date, her title to Lit accrues after that date. All property devolving upon her after marriage or acquired in any trade, business or employ- ment which she carries on separately from her husband, including wages and earnings of any kind, and money acquired by the exercise of any literary, artistic, or scientific skill, is the sole property of the wife as if she were a single woman. And all money deposited or invested in any bank, savings bank, building society, or standing to her name in any stocks or shares, or in her name jointly with that of any person other than her husband, is to be deemed her sole property. A married woman is now liable upon all her contracts to the extent of hec separate property. The creditor of a married woman may obtain payment out of any property not subject to restraint which she may possess at time of execution. A married woman may enter into a contract with her husband. She may now dispose of her separate property by a will made during coverture. Bankruptcy A married woman trading separately may be made a bankrupt in respect of her separate property as if she were a single woman ; but she cannot be made bankrupt unless she is trading separately, and although so tracing a bankruptcy notice cannot be issued against her, not even if trading under the name of a firm. But she may be made bankrupt after she has ceased to so trade in respect of debts incurred whilst trading. A single woman against whom a bank- ruptcy petition has been presented, can avoid being made a bankrupt by getting married before the hearing of the petition. Husband's Bankruptcy If a married woman lend money to her husband for the purposes of his business, and he is declared bankrupt, although she is entitled to prove in the bankruptcy, her claim will be postponed to all his other creditors for value. This rule does not apply to a loan made by the wife to a firm in which her husband is a partner, or to the husband for purposes other than his business, or to money paid by her as surety for her husband. To be continued. GLOSSARY OF LEGAL TERMS USED IN THIS SECTION On the Strength. — The position of a wife of a non-commissioned officer whose husband has married with the consent of his commanding officer. Ward in Chancery or Ward of Court — A legal infant who has been placed under the care of the Chancery judges, gener- ally with a view to the protection of property which they inherit. Equity to a Settlement. — Wife's right to have part of her own property settled on her for the benefit of herself and her children. Decree Nisi. — A decree nisi dissolves the marriage, but gives the parties time to appeal against the decree. Decree Absolute.— Legal full dissolution of marriage after decree nisi pronounced.