An Act To Establish A Uniform Law On The Subject Of Bankruptcies Throughout The United States

Author : Edwin James
Publisher : Forgotten Books
ISBN 13 : 9781330232385
Total Pages : 330 pages
Book Rating : 4.2/5 (323 download)

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Download or read book The Bankrupt Law of the United States written by Edwin James and published by Forgotten Books. This book was released on 2015-06-26 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Bankrupt Law of the United States: With Notes, and a Collection of American and English Decisions Upon the Principles and Practice of the Law of Bankruptcy The Constitution of the United States delegates to Congress "the power to establish uniform laws on the subject of bankruptcies throughout the United States." Every commercial country has some system of bankruptcy. It was introduced into the jurisprudence of the Roman empire, and made universal by succeeding Christian emperors. The French and the Teutonic nations have adopted the system in their various codes, and in England it has prevailed for more than two centuries. The power to establish a law of bankruptcy has been exercised intermittently and at considerable intervals, to meet special emergencies arising out of commercial difficulties, and the laws enacted under it were repealed before they had formed even the basis of a system of legislation. The failure of the attempts at legislation upon this important subject is historic. The Bankrupt Act of 1800 was substantially for creditors only. It was a carefully-prepared Digest of the English statutes as they then existed, upon the subject of bankruptcy, without any proper adaptation of the system to the peculiar interests of commerce in this country. The Bankrupt Act of 1841 was in fact for the benefit of debtors only, and it was reported originally as a purely voluntary system. In the course of the discussion in Congress on the bill, amendments were ingrafted upon it which were intended to secure and protect the interests of creditors, but were found by experience to be inefficient and illusory. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.