Page:United States Statutes at Large Volume 18 Part 1.djvu/1049

 Trruc mn.-BANKaUrrcx’.-on. 4. 977 in the place of the creditor if the creditor has proved the same, although 2 MM-. 1867. v- such payments shall have been made after the proceedings in bankruptcy  “· 19** 1* P- were commenced. And any person so liable for the bankrupt, and who ;.-_-_ has not paid the whole of such debt, but is still liable for the same or In re Wynne, -1 any part thereof, may, if the creditor fails or omits to prove such debt, B811k; 1168-. 5; L1 prove the same either in the name of the creditor or otherwise, as may {Q T";',; 5 B“k· be provided by the general orders. and subject to such regulations and €g" ' limitations as may be established by such general orders. Sec. 5071. Where the bankrupt is liable to pay rent or other debt Débwhlliqgdue falling due at fixed and stated periods, the creditor may prove for a pro- at ““‘t°d P""°d“· portionate part thereof up to the time of the bankruptcy. as if the same grew due from day to day. and not at such fixed and stated periods. ug 1:1% gg?} 525.—\\'ylie .·. Breck,’ 2 wéeas, 673. Sec. 5072. No debts other than those specified in the live preceding N¤ other debts sections shall be proved or allowed against the estate. 1”`°"“bl°‘ ._ 2 Mar., 1867, c. 176, s. 19, v. 14, p. 525. Sec. 5073. In all cases of mutual debts or mutual credits between the Sefwffsparties, the account between them shall be Stated, and One debt set OH against the other, and the balance only Shall be allowed 0I' paid: but 110 22 June 1874 cl set-oli shall be allowed in favor of any debtor to the bankrupt of a claim 390, p. 6, ’.·. 18,, pj in its nature not provable against the estate, or of a claim purchased by 179- or transferred to him after the filing of the petition. w9a_w;;Hb_ 17 Wall., 610; Gray r. Rollo, 18 Wall., 629; In re City Bank of Savings, &c., 6. Batik: Reg., 71; Ex parte Caylors, 1 Low., 550; In re Lane, Brett & Co., 2 Low., 305; Exparfe Howard National Bank, 2 Low., 487; E1 parte Hobbs, 2 Low., 491. Sec. 5074. When the bankrupt, at the time of adjudication, is liable _Di¤tinct liabiliupon any bill of exchange, promissory note, or other obligation in respect mso distinct contracts as a member of two or more firms carrying on 2 Mar., 1867, e. separate and distinct trades, and having distinct estates to be wound 176. ¤- 21.V-14. p. up in bankruptcy, or as a sole trader and also as a member of a. firm, the 523 circumstance that such firms are in whole or in part com sed of the M€sa.·_Nm0m,j same individuals, or that the sole contractor is also one of th; joint con- B¤¤k, dsc., 6 tractors, shall not prevent proof and receipt of dividend in respect of gl'·l·9h·» B0? {n *'¢ such distinct contracts against the estates respectively liable upon such BQ? °lj’4,§t 2,* ,3 contracts. Buekhabse, 2 Low., 331; In re Lane, Brett & C0., 2 Low., 333. Src. 5075. When a creditor has a mortgage or pledge of real or per- Secured debts. sonal property of the bankru t, or a lien thereon for securing the pay- *—*w·—— ment of a debt owin to him fiom the bankrupt, he shall be admitted as ug Magi; 183- C- a creditor only for gre balance of the debt after deducting the value of 526f B' ’ v' ’ P' such property, to be ascertained by agreement between him and the 22 Jem, 1874, C, assi nee, or by a sale thereof, to be made in such manner as the court 390. 3- 6, r. 18, p. shall, direct; or the creditor  gclegse ordconvey hi; clapmltod the 179- assi nee u n such ro erty, an e a mitte to rove is w 0 e ebt. . _ If the vahie.0 of the piodiarty exceeds the sum forlivhich it is so held as Be? °`°4£0l$°l?:’j security, the assignee may release to the creditor the bankrupt’s right Wynn, 1’Bank. of redemption therein on receiving such excess; or he may sell the prop Res-. 131; In re erty, subject to the claim of the creditor thereon; and in either case the g;f”i§aBvQ2l;·Il6°§;; assignee and creditor, respectively, shall execute all deeds and writings a,;,,,,. at ,,l_ 2 necessary or proper to consummate the transaction. If the property is Bank.R.eg.,125;’In not so sold or released and delivered up, the creditor shall not be allowed ¢‘¢F1‘1¤¢11e.5 B¤¤k· to prove any part of his debt. géfgeljzzé £n£‘ Reg., 183; Ray v. Norseworthy, 23 Wall., 128; Exparte Kelty etal., 1 Low., 394; Exparte Farnsworth, Low., 497; In re The Eureka Manufacturing Co., 1 Low., 500; Ex arte Houghton et al., 1 Low., 554; In re Holbrook & Co., 2 Low., 259; In re Pierce, 2 Ifbw., 343; Ea: parte Morris, 2 Low., 424; In re W. A. Saunders, 2 Low., 444; Ex arte Whiting, 2 Low., 472; McLean r. Klein, 3 Dill., 113; Meader v. Everett, 3 Dill., 214; Hamilton n. National Loan Bank, Saint Louis, 3 Dill., 230; In re Farnsworth, Brown & Co., 5 Bias., 223; Wicks & Co. r. Perkins, 1 Woods, 383; In re J. M. Coulter, 2 Saw., 42; In re Ellerhorst, 2 Saw., 219; In re Haake, 2 Saw., 231; In re Clifford, 2 Saw., 428; Austin v. Reilly, 2 Woods. 670; Burr z-. Hopkins, 6 Biss., 345; In re Daniels, 6 Bias., 405; Long r. Rogers, 6 Biss., 416; Witt v. Hereth,6 Biss.,474.