620
claim, and after contin-
gency has happened and the de-
mand been ascertained, demand may be proved.
On bankrupt-
cy of agent intrusted with goods, but which have been pledged by him, owner may prove for amount paid
to redeem, or for value, if the goods be unredeemed.
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
future, or whereby, or by reason or on breach whereof respectively he shall or may become liable, either absolutely or contingently, to pay any money or damages, either liquidated or unliquidated, and either then or at some future time or times, and the demand in respect thereof shall not have been ascertained before the filing of the petition for adjudication in every such case, if such demand be not provable under any other provi-
sion of this Ordinance, the person with or to whom such liability to pay has been contracted or incurred may, if he think fit, apply to the Court to set a value thereon; and the Court is hereby required to ascertain the value thereof, and to admit such person to prove the amount so ascertained, and to receive dividends thereon: or such person may if he think fit apply to be admitted and shall be admitted to claim for such sum as the Court shall think fit; and after the contingency, if any, shall have happened, and the demand in respect of such liability to pay, shall have been ascertained, he shall be admitted to prove such demand, and receive dividends with the other creditors, and so far as practicable, as if the contingency if any, had happened and the demand had been ascertained before the filing of such petition, but not disturbing former dividends; provided that where any such claim shall not have, either in whole or in part, been converted into a proof within six months after the filing of the petition for adjudication, it may, upon the application of the assignees at any time after the expira-
tion of such time if the Court shall think fit, be expunged either in whole or in part from the proceedings.
133. If any agent intrusted with the possession of goods within the meaning of an Act of the Imperial Parliament passed in the Session holden in the fifth and sixth years of the reign of Her present Majesty intituled "An Act to amend the Law relating to advances bona fide made to Agents intrusted with goods," shall have become bankrupt, the owner of any goods so intrusted to such agent, and which shall have been redeemed by such owner in manner provided by the said Act after having been pledged by such agent, shall, in respect of the sum paid by him on account of such agent for such redemption, be held to have paid such sum for
the use of such agent before his bankruptcy, or in case such goods shall not be so redeemed, the owner shall be deemed a creditor of such agent for the value of the goods so pledged at the time of the pledge, and shall, if he think fit, be entitled in either of such cases to prove for or set off the sum so paid, or the value of such goods, as the case may be.
620
claim, and after contin- gency has happened and the de- mand been ascertained, demand may be proved.
On bankrupt. cy of agent intrusted with goods, but which have been pledged by him, owner may prove for amount paid
to redeem, or for value, if the goods be unredeemed.
ORDINANCE No. 5 of 1864.
Bankruptcy and Insolvency.
future, or whereby, or by reason or on breach whereof respectively he shall or may become liable, either absolutely or contingently, to pay any money or damages, either liquidated or unliquidated, and either then or at some future time or times, and the demand in respect thereof shall not have been ascertained before the filing of the petition for adjudication in every such case, if such demand be not provable under any other provi- sion of this Ordinance, the person with or to whom such liability to pay has been contracted or incurred may, if he think fit, apply to the Court to set a value thereon; and the Court is hereby required to ascertain the value thereof, and to admit such person to prove the amount so ascertained. and to receive dividends thereon: or such person may if he think fit apply to be admitted and shall be admitted to claim for such sum as the Court shall think fit; and after the contingency, if any, shall have happened, and the demand in respect of such liability to pay, shall have been ascertained, he- shall be admitted to prove such demand, and receive dividends with the other creditors, and so far as practicable, as if the contingency if any, had happened and the demand had been ascertained before the filing of such petition, but not disturbing former dividends; provided that where any such claim shall not have, either in whole or in part, been converted into a proof within six months after the filing of the petition for adjudication, it may, upon the application of the assignees at any time after the expira- tion of such time if the Court shall think fit, be expunged either in whole or in part from the proceedings.
133. If any agent intrusted with the possession of goods within the meaning of an Act of the Imperial Parliament passed in the Session holden in the fifth and sixth years of the reign of Her present Majesty intituled "An Act to amend the Law relating to advances bona fide made to Agents intrusted with goods," shall have become bankrupt, the owner of any goods so intrusted to such agent, and which shall have been redeemed by such owner in manner provided by the said Act after having been pledged by such agent, shall, in respect of the sum paid by him on account of such agent for such redemption, be held to have paid such sum
the use of such agent before his bankruptcy, or in case such goods shall not be so redeemed, the owner shall be deemed a creditor of such agent for the value of the goods so pledged at the time of the pledge, and shall, if he think fit, be entitled in either of such cases to prove for or set off the sum so paid, or the value of such goods, as the case may be.
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