TWENTY-SEVENTH CONGRESS. Sess. I. Cn. 9. 1841.

443

of property, of every name and nature, and whether real, personal, ormixed, of every bankrupt, except as is hereinafter provided, who shall,by a decree of the proper court, be declared to be a bankrupt withinthis act, shall, by mere operation of law, ipso facto, from the time ofsuch decree, be deemed to be divested out of such bankrupt, withoutany other act, assignment, or other conveyance whatsoever; and thesame shall be vested, by force of the same decree, in such assignee asfrom time to time shall be appointed by the proper court for this purpose,which power of appointment and removal such court may exercise at itsdiscretion, toties quoties; and the assignee so appointed shall be vestedwith all the rights, titles, powers, and authorities to sell, manage, anddispose of the same, and to sue for and defend the same, subject to theorders and directions of such court, as fully, to all intents and purposes,as if the same were vested in, or might be exercised by, such bankruptbefore or at the time of his bankruptcy declared as aforesaid; and allsuits in law or in equity, then pending, in which such bankrupt is aparty, may be prosecuted and defended by such assignee to its finalconclusion, in the same way, and with the same effect as they mighthave been by such bankrupt; and no suit commenced by or against anyassignee shall be abated by his death or removal from office, but thesame may be prosecuted or defended by his successor in the same office;Provided, however, That there shall be excepted from the operation ofthe provisions of this section the necessary household and kitchen furni-ture, and such other articles and necessaries of such bankrupt as thesaid assignee shall designate and set apart, having reference in theamount to the family, condition, and circumstances of the bankrupt,but altogether not to exceed in value, in any case, the sum of threehundred dollars; and, also, the wearing apparel of such bankrupt, andthat of his wife and children; and the determination of the assignee inthe matter shall, on exception taken, be subject to the final decision ofsaid court.

Sec. 4. And he it further enacted, That every bankrupt, who shallbona fide surrender all his property, and rights of property, with theexception before mentioned, for the benefit of his creditors, and shallfully comply with and obey all the orders and directions which mayfrom time to time be passed by the proper court, and shall otherwiseconform to all the other requisitions of this act, shall (unless a majorityin number and value of his creditors who have proved their debts, shallfile their written dissent thereto) be entitled to a full discharge from allhis debts, to be decreed and allowed by the court which has declaredhim a bankrupt, and a certificate thereof granted to him by such courtaccordingly, upon his petition filed for such purpose; such dischargeand certificate not, however, to be granted until after ninety days fromthe decree of bankruptcy, nor until after seventy days’ notice in somepublic newspaper, designated by such court, to all creditors who haveproved their debts, and other persons in interest, to appear at a particu-lar time and place, to show cause why such discharge and certificateshall not be granted; at which time and place any such creditors, orother persons in interest, may appear and contest the right of the bank-rupt thereto: Provided, That in all cases where the residence of thecreditor is known, a service on him personally, or by letter addressedto him at his known usual place of residence, shall be prescribed by thecourt, as in their discretion shall seem proper, having regard to the dis-tance at which the creditor resides from such court. And if any suchbankrupt shall be guilty of any fraud or wilful concealment of his pro-perty or rights of property, or shall have preferred any of his creditorscontrary to the provisions of this act, or shall wilfully omit or refuse tocomply with any orders or directions of such court, or to conform toany other requisites of this act, or shall, in the proceedings under this

All property,&c. except, &c.vested in an as-signee.

Court may ap-point and re-move the as-signee.

Rights andpowers of theassignee.

Proviso.

What bank-rupts entitled toa full discharge,&c.

Such dischargeand certificatenot to be grant-ed until after acertain time,&c.

Proviso.

What bank-rupts not enti-tled to a dis-charge or certificate.