| 1787.
CHAP.
XXXIV. |
WILLIAM SMALLWOOD, Esq; Governor.
XI. And be it
enacted, That if any debtor, whose property shall have been
assigned according to this act, shall have satisfied all claims brought
in and allowed
against him, the chancellor may order his estate and effects not sold,
to
be restored to him, and he shall thereupon be seized and possessed thereof,
as
of his former estate. |
Surplus to be
paid to the
debtor, &c. |
XII. And be
it enacted, That if, on final settlement of all debts and claims
against such debtor, there should be any surplus, the chancellor shall
direct the
same to be paid by the trustee or trustees to such debtor, his executor
or administrator. |
Trustee to be
allowed a salary,
&c. |
XIII. And be
it enacted, That the chancellor may allow the trustee or trustees
appointed by him in virtue of this act, such salary or commission, not
exceeding seven and a half per cent. for his or their trouble, as
the chancellor
shall think just and reasonable. |
Debtors imprisoned
may
apply to the
chancellor,
&c. |
XIV. And be
it enacted, That if any debtor shall be imprisoned, and in
actual custody, he may apply to the chancellor in the manner before directed,
and the chancellor may thereupon direct notice to his creditors, and
may order
the sheriff or other officer, in whose custody such debtor may be, to bring
him before the chancellor, and may administer to such debtor the oath or
affirmation aforesaid, and similar proceedings may be had as herein before
directed. |
Certain creditors
may apply
to the
chancellor in
writing, &c. |
XV. And,
whereas many people, greatly indebted, have wasted, mispent
and misconducted their property, so that their creditors have lost their
debts,
or great part thereof, notwithstanding such debt might have been wholly,
or
in great part, satisfied by an honest and timely application of such property,
and some of those debtors have laid in prison under commitment for want
of
bail, or in execution, till they have spent and wasted their property,
with the
expectation of being afterwards relieved from imprisonment by the general
or a
special insolvent act; to prevent as far as may be the like injustice to
creditors,
Be it enacted, That, if any creditor
or creditors for any sum or sums
to the amount in the whole of upwards of three hundred pounds current money,
may apply to the chancellor in writing, stating his or their claim, and
that such creditor refused, neglected or declined, to give such creditor
or creditors
sufficient security for the payment of such debts, verifying such application
by affidavit thereto annexed, and verifying also, by the affidavit
of
one or more credible witnesses, not being creditors, annexed to the said
application,
that such witness or witnesses is or are well acquainted in general
with the circumstances and affairs of the debtor, and with his conduct
and
management, and that he or they believe that such debtor is wasting, mispending,
or misconducting his property, and thereby impairing and lessening
the security of his creditors for their debts, whereby the said creditors,
or some
of them, may probably lose their debts, or part thereof, and the chancellor
may thereupon direct such debtor to appear before him, and to answer on
oath
(or affirmation) as to the justice of the debt or claim against him, and
in case
of his appearance, or if after notice he shall not appear, the chancellor
may
inquire into the truth of the premises by the examination of witnesses,
not
being creditors, and if satisfied of the justice of the debt or claim,
and of
the misconduct of the debtor as aforesaid, he may direct such debtor to
give,
within such time as he shall appoint, real or personal security, as he
may think
proper, to such creditor or creditors, at such time as he may think
reasonable,
and if refused, delayed or neglected, by such debtor, the chancellor may
declare such debtor to be insolvent; and if any defendant, indebted to
the
amount in the whole of more than three hundred pounds current money,
shall be committed and remain committed for the full space of thirty days,
either for want of special bail or in execution, and shall for that time
actually
remain in gaol, the creditor, at whose suit he was so committed, having
laid
before the chancellor an authenticated copy or certificate of such commitment, |
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