Page:United States Statutes at Large Volume 14.djvu/556

 526 THIRT Y-NINTH CONGRESS. Sess. H. Ch. 176. 1867 same after such liability shall have become fixed, and before the final d Egnfirhggptgm dividend shall have been declared. In all cases of contingent debts and ugh °'° mcontingent liabilities contracted by the bankrupt, and not herein otherwise provided for, the creditor may make claim therefor, and have his claim allowed, with the right to share in the dividends, if the contingency shall happen before the order for the final dividend; or he may at any time apply to the court to have the present value of the debt or liability ascertained and liquidated, which shall then be done in such manner as the B I court shall order, and he shall be allowed to prove for the amount so as- ¤l » ¤¤¤‘¢fi¤S, certained. An erson liable as bail, suret, arantor, or otherwise for “°"°m°r’ &°‘ the bankrupt, wyhd) shall have paid the debii, E: any part thereof, in discharge of the whole, shall be entitled to prove such debt or to stand in the place of the creditor if he shall have proved the same, although such payments shall have been made after the proceedings in bankruptcy were commenced. And any person so liable for the bankrupt, and who has not paid th; whole of said debt, but is still liable for the same or any part thereo, may,i the creditor shall fail or omit to prove such debt, prove the same either in the name of the creditor or otherwise, as ma be provided by the rules, and subject to such regulations and limitationii as Rent, &c. may be established by such rules. Wliere the bankrupt is liable to pay rent or other debt falling due at Hxed and stated periods, the creditor may propelfor a proportioinatefpart thereof up to the time of the bankruptcy, as i the same grew ue rom day to da , and not at such fixed and stated Unliquidated periods. If any bankrupt shall be liablb for unliquidated damages arising gfggggs  out of any contract or` promise, or on account of any goods or chattels wrongfully taken, converted, or withheld, the court may cause such damages to be assessed in such mode as it may deem best, and the sum so No other debts assessed may be proved against the estate. No debts other than those provable. above specified shall be proved or allowed against the estate. mtlipntpgiélsbts Sm;. 50.  gc tit furgzler enacted, };l.`hat, in allbcases of gutuaf debts · or mu u cre i e ween e arties the account etweent ein sia l be S°* °H`- stated, and one debt set off agdinst the other, and the balance only shall be allowed or paid, but no set-off shall be allowed of a claim in its nature P1‘<>ViS<>· not provable against the estate: Provided, That no set-0H` shall be allowed in favor of any debtor to the bankrupt of a claim purchased by or iuggriggstgaygl tranpferred to  aftfer thp filing of the petition. flghen akcreditor has a um to mor gage or p e ge o rea or ersona ro ert o the ban ru t ora icn fmly iihisngigve thereon for securing the paymiint of a debi;) oiding to him ironi) fhe bankrupt, he shall be admitted as a creditor only for the balance of the debt after deducting the value of such property, to be ascertained by agreement between him and the assignee, or by a sale thereof; to be made in such mglnneii as the hcourt shall direct; or the creditor may release or convey is c aim to the assignee u on such ro ert and we admitted to Where value prove his whole debt. If the vahie of the p)roiierty}i,exceeds the sum for ggcifslsggtfieilg which it is so held as security, the assignee may release to the creditor the bankrupt’s right of redemption therein on receiving such excess; or he may sell the property, subject to the claim of the creditor thereon; and in either mise the assignee and creditor, respectively, shall execute all deeds and writings necessary or proper to consummate the transaction. I; ppc prpperfy is got so sold or released and delivered up, the creditor s a not e a owe to prove any part of his debt. _ Creditors prov- Sec. 21. And be it urtizer emwte That no creditor rovin his debt £€dd°;]:t;;°;;°° or claim shall be allowbld to maintain?) any suit at law or id) equitgr therefor waived aimgm against the bankrupt, but shall be deemed to have waived all right of °f ”°**°“·&°· action and suit against the bankrupt, and all proceedings already com- _ menced or unsatisfied judgments already obtained thereon, shall be wlggidggg me deemed to be discharged and surrendered thereby ; and no creditor pwvabm now, whose debt IS provable under this act shall be allowed to prosecute -i0 prosecute suits tinal judgment any suit at law or in equity therefor against the bankrupt,