Economics -- Early works to 1800; Finance -- Great Britain; Great Britain -- Economic conditions -- 18th century
The secretary is to lay this petition before the commissioners, who shall
sign it of course; and the petitioner shall have an officer sent home
with him immediately, who shall take possession of his house and goods,
and an exact inventory of everything therein shall be taken at his
entrance by other officers also, appointed by the court; according to
which inventory the first officer and the bankrupt also shall be
accountable.
This officer shall supersede even the Sheriff in possession, excepting by
an extent for the king; only with this provision:—
That if the Sheriff be in possession by warrant on judgment obtained by
due course of law, and without fraud or deceit, and, _bonâ fide_, in
possession before the debtor entered his name in the office, in such case
the plaintiff to have a double dividend allotted to his debt; for it was
the fault of the debtor to let execution come upon his goods before he
sought for protection; but this not to be allowed upon judgment
confessed.
If the Sheriff be in possession by _fieri facias_ for debt immediately
due to the king, the officer, however, shall quit his possession to the
commissioners, and they shall see the king’s debt fully satisfied before
any division be made to the creditors.
The officers in this case to take no fee from the bankrupt, nor to use
any indecent or uncivil behaviour to the family (which is a most
notorious abuse now permitted to the sheriff’s officers), whose fees I
have known, on small executions, on pretence of civility, amount to as
much as the debt, and yet behave themselves with unsufferable insolence
all the while.
This officer being in possession, the goods may be removed, or not
removed; the shop shut up or not shut up; as the bankrupt upon his
reasons given to the commissioners may desire.
The inventory being taken, the bankrupt shall have fourteen days’ time,
and more if desired, upon showing good reasons to the commissioners, to
settle his books and draw up his accounts; and then shall deliver up all
his books, together with a full and true account of his whole estate,
real and personal, to which account he shall make oath, and afterwards to
any particular of it, if the commissioners require.
After this account given in, the commissioners shall have power to
examine upon oath all his servants, or any other person; and if it
appears that he has concealed anything, in breach of his oath, to punish
him, as is hereafter specified.
Upon a fair and just surrender of all his estate and effects, _bonâ
fide_, according to the true intent and meaning of the act, the
commissioners shall return to him in money, or such of his goods as he
shall choose, at a value by a just appraisement, £5 per cent. of all the
estate he surrendered, together with a full and free discharge from all
his creditors.
Public-domain text, read in full here on John Shaqi.
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