THOMAS SIM LEE, Esq; Governor.
XI. And be it
enacted, That the bills of credit issued by congress, or emitted
by any acts of assembly under the old government, or resolves of convention,
shall not, after the passing of this act, be a tender or payment in law
or equity, for
any debt, covenant, promise, contract or agreement, created or made before
the
first day of September, one thousand seven hundred and seventy-six, unless
where
the creditor has not become a subject and resident of this or some one
of the United
States, since the said first day of September, seventeen hundred and
seventy-six,
and in such case the debtor of such creditor, or of his assignee (who has
not
become a subject and resident of this or some one of the United States,
and who
hath not had an attorney in fact, acknowledging himself as such for the
purpose
of receiving debts always since that time, and constantly residing within
this state
since the said first day of September, seventeen hundred and seventy-six)
and the
executor or administrator of such debtor may, and he is hereby authorised,
on
making oath (or affirmation, if a quaker, menonist or dunker) to be lodged
with
the treasurer, that he hath received, for debts due before the first of
September,
seventeen hundred and seventy-six, to him or the person to whom he is heir,
executor,
administrator, or representative, to the amount by him in such oath or
affirmation
specified, and that he hath not paid for debts due before that time, by
himself or the person to whom he is heir, executor, administrator, or representative,
above the sum in such oath or affirmation specified, or on making oath
or
affirmation, to be lodged with the treasurer, that before the twentieth
day of
April, seventeen hundred and seventy-nine, he sold property for the purpose
of
paying debts by him, or the person to whom he is heir, executor, administrator,
or representative, contracted before the first day of September, seventeen
hundred
and seventy-six, and that he constantly kept the money by him received,
or so
much of the same, or other money, as he shall specify in his oath or affirmation,
or that, before the said twentieth day of April, he sold property for the
purpose
of paying his debts as aforesaid, and that he left the money in the hands
of the
purchaser, where it remains, for the purpose of paying his debts as aforesaid,
such
debtor may pay, to either of the treasurers of this state, the amount of
the money
by him received and kept as aforesaid, or left as aforesaid, or the balance
by him
received above what he hath paid as aforesaid, or any part thereof, in
discharge of
the debt due to such creditor, in the said continental, convention, or
bills of credit
emitted by acts of assembly under the old government, aforesaid, on or
before
the twentieth of March next, or in the said new bills of credit, or bills
emitted
under the act to enable the treasurer of the western shore to draw and
sell bills of
exchange, and for an emission of bills of credit, if necessary, at the
rate of one dollar
of the same bills for every forty dollars due and payable at any time before
the
first day of July next; and such payment shall be deemed in law a payment
of
such creditor or his assignee, and the treasurer's receipt shall be good
evidence in
the courts of law and equity of the payment of such debt, and shall be
allowed
sufficient in the courts of law and equity, and in the orphans courts,
on the administration
of the estates of deceased persons, and the treasurers shall exchange
any continental, convention, and bills emitted by acts under the old government,
by him so received for new bills, at the rate of one for forty, and the
same, together
with all new bills, and bills emitted by the said act of assembly, which
may
be paid for the purpose aforesaid, shall retain in his office, liable to
the attachment
of creditors, and subject to the future direction of the general assembly. |
1780.
CHAP.
V.
Bills issued by
congress, &c.
not a legal
tender, &c. |
XII. And be
it enacted, That where any executor, administrator, guardian,
trustee or factor, has received any of the said bills of credit, it shall
and may be
lawful for such executor, administrator, guardian, trustee or factor, and
he is
hereby authorised, to pay and discharge to the amount of the money by him
actually
and bonâ fide received, in the new bills of credit, at the
said rate of one
dollar of the said new bills for every forty dollars by him received.
Provided
always, that if the executor, administrator, guardian, trustee or factor,
hath not
paid away the money by him received in the aforesaid bills of credit, in
a course
of administration, or otherwise expended it in pursuance of the trust reposed
in
him, or kept the same by him, but hath converted the same to his own use,
in
any manner, except by lending the same, then such executor, administrator,
guardian,
trustee or factor, shall be accountable, on oath or affirmation, for the
value |
Executor, &c.
may pay money
received
in new bills,
&c. |