The law against bankrupts: or, A treatise wherein the statutes against bankrupts are explained by several cases, resolutions, judgments and decrees, both at common law and in Chancery. Together with the learning of declarations and pleading relating thereunto. To which are likewise added forms and directions for commissioners, and presisidents, fit for the perusal of lawyers, or merchants and tradesmen. By T.G. serjeant at law.

Who are Creditors within the Statute, and who not.

A Merchant enters into a Statute or Recognisance; the Conisee is a Creditor, and must come in and contribute, or else he shall have no relief.

An Executor becomes a Bankrupt, a Legatee shall be relieved as a Creditor.

Mortgagee is not a Creditor within the Statute, and need not come in▪ for he is provided for by the Statute. So a a Merchant pledgeth Goods, and be∣comes a Bankrupt, the party need not come in.

As well Aliens as Denizens may come in as Creditors, per Stat. 21 Jac. c. 19.

A Surety may come in as Creditor. O. & B. are Sureties for J. S. for the pay∣ment of Mony; and had Counterbonds from J. S. to save them harmless: The Mony was not paid at the day. O. and B. the Sureties pay it. J. S. after be∣comes a Bankrupt, Per Curiam. O. & B. are Creditors within the Statutes, Croke, Jac. 127. Osborn & Churchman.

One hath a Debt not yet due, yet he shall be relieved with rateable respect of abatement for the time.

Mr. Stone saith, One that recovers da∣mages in Waste or Trespass, shall not be relieved as a Creditor; Quaere, if that be Law? For in Benson & Flowers Case. Jones Rep. fo. 215. A man recovered Damages in an Action on the Case for Words, and became a Bankrupt, after Judgment, when it is reduced to a cer∣tainty, it may be assigned. By the same reason, if the Plaintiff recover Damages against the Defendant, and hath Judg∣ment, and the Defendant becomes a Bankrupt, the Plaintiff is a Creditor: It is a Debt due to him, and Action of Debt lies upon the Judgment. Quaere.

The Plaintiff that hath the Defen∣dants Body in Execution, shall not come in to be relieved. But if he have his Body in Execution on a Statute Mer∣chant, aliter, per Mr. Stone. Quaere.

A. is Bail for B. either to bring his Bo∣dy, or to pay the Condemnation-mony.

B. becomes a Bankrupt, and absents, A. pays the Mony, he may come in as Cre∣ditor.

If one trust a Bankrupt, after he be∣comes a Bankrupt, he shall not be relie∣vable as a Creditor.

Vide infra, The Case of Craven and Knight in Chancery.

A Statute extended upon a Bankrupts Lands, before the Liberate filed, Lord Chancelor ordered to take like composi∣tion with other Creditors. Overman a∣gainst Wright, Hill. 17 Jac. li. B. fo. 807.

Per Stat. 21 Jac. It is enacted, That all, and every Creditor and Creditors, ha∣ving security for his, or their Debts, by Judgment, Statute, Recognisance, Specialty with Penalty, or without, or having no se∣curity, or having made Attachment in Lon∣don, or any other place, by vertue of any Custom, there used, of the Goods and Chattels of any such Bankrupt, whereof there is no Execution or Extent served and executed up∣on any the Lands, Tenements, Heredita∣ments, Goods, Chattels, and other Estate of such Bankrupt, before such time as he, or she shall, or do become a Bankrupt, shall not be relieved upon any such Judgment, Statute, Recognisance, &c. for any more than a rateable part of their just and due Debts with the other Creditors of the said Bank∣rupt, without respect to any such penalty, or

greater sum contained in any such Judg∣ment, Statute, Recognisance, &c. Of Fo∣reign Attachment, Vide infra.

Notes

• Conisee.
• Legatee.
• Mortgagee▪
• Aliens.
• Sureties.
• Debt not due.
• Recoverer of Damages.
• He that hath the Defendants Body in Execu∣tion.
• Bail.
• Trusting a Bankrupt.
• Judgmentees, Conusees and Attachers by Foreign At∣tachment to come in as Creditors for their share.