SALES AND NOTICES 3173

property is applied to the payment of the bona fide claims of the creditors
of the vendor, pro rata, according to the priority of their several claims, as
shown upon such verified statement, and without first having sent the
notices of said sale and said statement of creditors, as provided for in said
Section 100, then such sale or transfer shall be fraudulent and void as to
subsisting creditors, and such purchaser or agent shall, at the suit of any
creditor, be held liable to the said subsisting creditors of the said vendor
as a trustee for the fair value of all the property so bought or sold by him;
and, in addition, any property transferred in violation of the provisions
of Section 97 to Section 101 hereof, both included, shall be subject to
attachment in an action brought by any creditor of the vendor. Provided,
however, that if the vendor and/or any creditor of said vendor whether
listed on the statement aforesaid or not shall object to the schedule of dis-
tribution of the proceeds of said sale by paper writing delivered to the
purchaser prior to the time set for said sale, then the said purchaser or
agent, may within ten days after the consummation of said sale, file a
petition in the Circuit Court for the county in which the place of business
of the vendor is situated (or in the Circuit Court or Circuit¹ No. 2 of Bal-
timore City, in case the place of business of the vendor is situated in Balti-
more City) asking that a receiver or receivers be appointed by said Court
to take charge of the distribution of the agreed purchase price; and if said
receivership is granted then said receiver or receivers, upon qualification
by filing an approved bond in the amount fixed by the Court, shall be
entitled to the custody and distribution of the agreed purchase price under
orders of the Court as in other receiverships. And said purchaser with
whom such written objection is filed within the period aforesaid, or prior
to the paying of the agreed purchase price, shall not pay over said agreed
purchase price except to the receiver appointed hereunder, unless and until
the petition for the receiver has been denied by the Court. If there is no
objection on the part of anyone interested, or if the receivership petition
is refused, the purchaser shall be liable to the subsisting creditors of the
vendor, as a trustee, for the agreed purchase price of all the property so
bought by him, and may make distribution of the unpaid portion of the
purchase price in accordance with the statement furnished as aforesaid.
And provided further, that no proceeding at law or equity shall be brought
against the purchaser to invalidate any such sale after the expiration of
ninety (90) days from the consummation thereof. Nothing herein con-
tained shall prevent or hinder the vendor from demanding and receiving
security from any purchaser or requiring a deposit, not to exceed ten (10)
per cent of the purchase price, to insure faithful performance of the con-
tract, agreeable to the provisions of this sub-title, prior to furnishing the
list of creditors as hereinbefore set forth.
See notes to sec. 97 and to art. 66, sec. 32.

An. Code, 1924, sec. 102. 1912, sec. 102. 1912, ch. 451, sec. 100. 1927, ch. 534, sec. 102.

99. Any sale or transfer of a stock of goods, wares or merchandise out
of the usual or ordinary course of the business (in the trade) of the vendor,
or whenever thereby substantially the entire business (trade) theretofore
conducted by the vendor shall be sold or conveyed, or attempted to be sold
or conveyed, to one or more persons, shall be deemed a sale or transfer

¹ This is just as it appears in the act.