THE BANKRUPTCY ACT OF 1883 WITH Introduction and Notes AN APPENDIX CONTAINING THE DEBTORS' ACT, 1869 AND AN INDEX BY W. A. HOLDSWORTH, ESQ. OF GRAY'S INN, BARRISTER-AT-LAW SIXTH EDITION LONDON GEORGE ROUTLEDGE AND SONS BROADWAY, LUDGATE HILL NEW YORK: 9 LAFAYETTE PLACE MR. HOLDSWORTH'S LEGAL HAND 300KS. In Crown 8vo, 640 pp., 5s. THE PRACTICAL FAMILY LAWYER. In Crown 8vo, 2s. 6d. each. THE HANDY BOOK OF PARISH LAW. In Feap. 8vo, 1s. each. LANDLORD AND TENANT. WILLS AND EXECUTORS. THE BALLOT ACT. MASTER AND SERVANT. WEIGHTS AND MEASURES. THE EDUCATION ACT. THE FRIENDLY SOCIETIES ACT. 2 BILLS, CHEQUES, AND I O U's. PREFACE. THE Bankruptcy Act of 1883 amends and consolidates the law of bankruptcy. It not only introduces important changes into the system established by the Act of 1869, but it repeals that Act, and embodies in a single measure the whole of the statutory provisions relating to bankruptcy which will henceforth be in operation. This is not the place for discussing the merits of the new Act; but we think it will be generally admitted that it is based on clear and well-defined principles. It is, we believe, generally admitted that the Act of 1869 afforded dishonest debtors far too ready means of getting rid of their liabilities, while it placed far too much reliance upon the willingness or ability of creditors to protect their own interests in the administration of insolvent estates. The Act of 1883 endeavours to remedy these defects by subjecting the conduct of an insolvent to severe and public scrutiny; by preventing him from ob. taining his discharge, unless the Bankruptcy Court is of opinion that he is entitled to it, and then upon such terms as the court may think fit; and by arming the Board of Trade with power not only to defend the interests of public morality, so far as they are involved in the exposure and punishment of commercial dishonesty, but to secure a proper and economical administration of insolvent estates, and their early distribution amongst the creditors to whom they belong. The system adopted, for which we are indebted to the constructive ability of the President of the Board of Trade, is apparently well adapted to meet the ends in view; and if it appears at first sight a little complicated, we must bear in mind how difficult and embarrassing is the subject with which it deals. We have in the following pages endeavoured to facilitate the perusal of the Act, by an Introduction, giving a careful outline of its general scheme and principal provisions, by explanatory notes on the several clauses of the Act, and by a full index. We have added an Appendix containing those portions of the Debtors' Act, 1869, which are not repealed by the present Act, and, therefore, still remain in force. 3, TANFIELD Court, September 1883. |