|
ART. 47] INVOLUNTARYPETITION. 1223
For a case involving the suspension of payment of negotiable paper as an
act of insolvency, see Cator v. Martin, 57 Md. 400.
For conveyances, etc., held fraudulent and void, see Clark Co. v. Colton,
91 Md. 207; Brown v. Smart, 69 Md. 329 (affirmed in 145 U. S. 454); Cator v.
Martin, 57 Md. 400.
Generally.
The enactment of a bankruptcy law suspends a state insolvency law only
so far as the two conflict. The latter continues in force as to any class of
persons exempted by the former. It is the exercise of the power of estab-
lishing a bankrupt law, and not the existence of such power, which renders
the state law inoperative. It is the policy of this section to make farmers
subject to its provisions. Old Town Bank v. McCormick, 96 Md. 349.
Proceedings against a corporation to avoid a preference may be brought
under this section or under article 23, section 376 and 377, of the code of
1904—see sections 78 and 79 of the annotated code (article 23). Mowen v.
Nitsch, 103 Md. 687.
Where a transfer has been made the basis of an adjudication, it is ipso
facto void and section 24 is not applicable. Vogler v. Eosenthal, 85 Md. 46.
Object of this section as to bankers, brokers, merchants, traders, etc. The
retirement of such person from business or his having made a deed for the
benefit of creditors, does not absolve him from the provisions of this sec-
tion. Gardner v. Gambrill, 86 Md. 660.
For a full note upon fraudulent conveyances, see Swan v. Dent 2 Md.
Ch. 111.
See sections S and 14 and notes.
1904, art. 47, sec. 23. 1888, art. 47, sec. 23. 1880, ch. 172, sec. 24. 1886, ch. 298,
sec. 24.
23. A petition may be filed in any of said courts having right to
take jurisdiction of the debtor so committing any act of insolvency in
the preceding section mentioned, by any one or more creditors, the
aggregate of whose debts against insolvent amounts to at least the
sum of two hundred and fifty dollars, at any time within four months
after the recording of any of the conveyances, creation of liens, or
committing of any of the acts of insolvency in this article specified;
the said petition shall allege the facts upon which the application is
grounded, and pray for process against the debtor and an adjudication
of insolvency, and shall be verified by the affidavit of the petitioner;
the court shall thereupon issue summons for the debtor and require
him to show cause in not less than five nor more than ten days why
such adjudication shall not be made; upon any issue of fact which
may arise out of said petition and answer, either party shall be entitled
to a trial by jury, but the parties to said cause may waive the jury trial
and be heard by the court on the issue of fact, and the trial shall take
place at the term during which the petition was filed and as speedily
as may be; and if the petition be filed in any circuit court for any
county during the term and whilst the jury shall be in attendance
thereon, 'the court shall not discharge the petit jury until the parties
to said petition shall file their waiver of a jury trial, as hereinbefore
provided; and if the petition be filed in any such court after the jury
has been discharged for the term, the court or any judge thereof, shall,
upon the demand of a jury trial by either party as aforesaid, order
the sheriff to summon a special jury, which shall be convened in not
less than five nor more than ten days from the date of such order, to
|
 |