ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
such labourer or workman out of the estate of such bankrupt; and such labourer or workman may prove for any sum exceeding such amount.
617
Apprentices discharged indentures.
to bankrupts
from their
124. Where any person shall have been an apprentice to a bankrupt at the time of the filing of the petition for adjudication, the filing of such petition shall, unless all necessary parties shall consent in writing that the indenture shall remain in force, be and enure as a complete discharge of the indenture whereby such apprentice was bound; and if any sum shall have been really and bonâ fide paid, by, or on behalf of such apprentice to the bankrupt, as an apprentice fee, the Court may upon proof thereof, order any sum to be paid out of the estate of the said bankrupt to, or for the use of such apprentice, which the Court shall think reasonable, regard being had, in estimating such sum, to the amount of the sum so paid by or on behalf of such apprentice, and to the time during which such apprentice shall have resided with the bankrupt previous to the filing of such petition.
125. Where there has been mutual credit given by the bankrupt and any other person, or where there are mutual debts between the bankrupt and any other person, the Court shall state the account between them, and one debt or demand may be set against another, notwithstanding any prior act of bankruptcy committed by such bankrupt, before the credit given to or the debt contracted by him; and what shall appear due on either side on the balance of such account, and no more shall be claimed or paid on either side respectively; and every debt or demand hereby made provable against the estate of the bankrupt, may also be set off in manner aforesaid against such estate, provided the person claiming the benefit of such set-off, had not when such credit was given, notice of an act of bankruptcy by such bankrupt committed.
126. Any person who shall have given credit to the bankrupt upon valuable consideration for any money or other matter or thing whatsoever which shall not have become payable when such bankrupt committed an act of bankruptcy, and whether such credit shall have been given upon any bill, bond, note, or other negotiable security, or not, shall be entitled to prove such debt, bill, bond, note, or other security as if the same was payable presently, and receive dividends equally with the other creditors, deducting only thereout a rebate of interest for what he shall receive at the rate of twelve per centum per annum, to be computed from the declaration of a dividend to the time such debt would have become payable according to the terms upon which it was contracted.
Court may order any sum to be paid in respect of apprentice fees.
Mutual debts and credits may be set off notwithstanding prior act of bankruptcy.
Deeds not payable at the time of the bankruptcy may be proved, deducting rebate of interest.
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
such labourer or workman out of the estate of such bankrupt; and such labourer or workman may prove for any sum exceeding such amount.
617
Apprentices discharged indentures.
to bankrupts
from their
124. Where any person shall have been an apprentice to a bank- rupt at the time of the filing of the petition for adjudication, the filing of such petition shall, unless all necessary parties shall consent in writing that the indenture shall remain in force, be and enure as a complete discharge of the indenture whereby such apprentice was bound; and if any sum shall have been really and bonâ fide paid, by, or on behalf of such apprentice to the bankrupt, as an apprentice fee, the Court may upon proof thereof, order any sum to be paid out of the estate of the said bank- rupt to, or for the use of such apprentice, which the Court shall think prentice fees. reasonable, regard being had, in estimating such sum, to the amount of
the sum so paid by or on behalf of such apprentice, and to the time during which such apprentice shall have resided with the bankrupt previous to the filing of such petition.
125. Where there has been mutual credit given by the bankrupt and any other person, or where there are mutual debts between the bankrupt and any other person, the Court shall state the account between them, and one debt or demand may be set against another, notwithstanding any prior act of bankruptcy committed by such bankrupt, before the credit given to or the debt contracted by him; and what shall appear due on either side on the balance of such account, and no more shall be claimed or paid on either side respectively; and every debt or demand hereby made provable against the estate of the bankrupt, may also be set off in manner aforesaid against such estate, provided the person claiming the benefit of such set-off, had not when such credit was given, notice of an act of bank- ruptcy by such bankrupt committed.
126. Any person who shall have given credit to the bankrupt upon valuable consideration for any money or other matter or thing whatsoever which shall not have become payable when such bankrupt committed an act of bankruptcy, and whether such credit shall have been given upon. any bill, bond, note, or other negotiable security, or not, shall be entitled to prove such debt, bill, bond, note, or other security as if the same was payable presently, and receive dividends equally with the other creditors, deducting only thereout a rebate of interest for what he shall $0 receive at the rate of twelve per centum per annum, to be computed from the declaration of a dividend to the time such debt would have become pay- able according to the terms upon which it was contracted.
Court may order any sum
to be paid in respect of ap-
Mutual debts and credits
may be set off ing prior act of
notwithstand-
bankruptcy.
Deeds not payable at the time of the bankruptcy may be prov- ied, deducting rebate of in- terest.
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