of £

of

day of, and at

day

offered for sale at [mart] on the such sale the said [name of purchaser] became the highest bidder for, and was declared to be the purchaser at the sum Now BE IT REMEMBERED that on the in pursuance of the order of the said Court made under the authority of the said recited act of Parliament, and in consideration of the said sum of £ of lawful English money to the said [general assignee] paid by the said [purchaser] at the time of purchasing the surrender, the payment and receipt whereof the said [general assignee] doth duly acknowledge (k); and also in consideration of the sum of 10s., of like lawful money, in like manner paid to each of them the said [insolvent's name] and [name], his wife, the payment and receipt whereof is also hereby acknowledged. He the said [general assignee], and also they the said [insolvent] and [name], his wife, (she the said [name] having been first examined separate and apart from her said husband by [name] of [residence], steward of the said manor (7), touching her free and voluntary consent to the passing of this surrender, and having confessed that she was not constrained thereto, but of her own free will gave up), HAVE and each of them HATH (according to their respective estates and interests in the premises) surrendered and given up, and by these presents Do surrender and give up, into the hands of the lord of the said manor, by the hands and acceptance of the said steward, by a rod according to the custom of the said manor (m), ALL, &c. [parcels], TOGETHER [general words], AND the reversion and reversions, remainder and remainders, &c., AND all the estates, &c. of them the said [general assignee], and [insolvent] and [name], his wife, in, to, or out the same premises and every part thereof. TO THE

(k) The general assignee alone is competent to convey; the official assignee is purposely omitted in the operative clause, 1 & 2 Viet. c. 110, ss. 47 and 49.

F

(1) If taken by deputy steward, the facts to be stated accordingly.

(m) If by customary tenant, to be stated as such. Vide p. 56, n. (u).

use and behoof of the said [purchaser], his heirs and assigns for ever, at the will of the lord, according to the custom of the said manor, by the rents, suits, and services therefore due and of right accustomed.

RECEIPT FOR CONSIDERATION MONEY TO BE SUBJOINED THUS:

Received the day and year first above written from the above named [provisional assignee] the sum of £, being the amount of the consideration money expressed to be paid by him to me. AS WITNESS my hand,

[Provisional assignee].

(n) These attestations or captions to be varied according to circumstances. Vide p. 56, ante.

67

CHAPTER VII.

DEEDS OF ASSIGNMENT AND COMPOSITION FOR BENEFIT OF

CREDITORS.

THE bankruptcy and insolvency laws are often repudiated by the medium of private arrangements between the debtor and his creditors, thus effecting an amicable and satisfactory adjustment of liabilities and claims; when, however, such a compact may be improvident, by reason of a paucity of effects, or impracticable, from the obstinacy of disappointed creditors, the debtor remains subject to their clemency, and is, consequently, arrested upon a ca. sa., or if a trader declared bankrupt, and if not so, left to his relief in the Insolvent Court (a): whether the former or latter misfortune befal him, or he become bankrupt upon his own petition (), or have recourse to the Protection Acts (c), the disposal of his copyholds is already sufficiently explained. It must not be forgotten, that deeds of assignment and composition are acts of bankruptcy, if acted upon within the prescribed period and executed as legally required (d). When a debtor has prevailed upon his creditors to execute an arrangement for their benefit, or to accept composition, the usual deed to effectuate such will be necessary; and if the debtor be possessed of

(a) 6 Geo. 4, c. 16, s. 5; 5 & 6 Vict. c. 116; 7 & 8 Vict. c. 96; 1 & 2 Vict. c. 110; 8 & 9 Vict. c. 127.

(b) 5 & 6 Vict. c. 122, s. 22.

(c) 5 & 6 Vict. c. 116; 7 & 8 Vict. c. 96; 10 & 11 Vict. c. 102.

(d) 6 Geo. 4, c. 16, ss. 3, 4, Oswald v. Thompson, 17 L. J. 234, Ex.

copyholds, it will be advisable to insert a power of attorney to surrender them: by adopting this precaution, the assignor's caprice, and any consequent trouble, may be obviated; and a surrender by power of attorney is quite correct, as laid down by Scriven on Copyholds, under title "Attorney," for which refer to that work. Literally, a deed of composition does not come within our limits, however, a precedent of such is subjoined, and the form of assignment for benefit of creditors; which together will meet the occurrences contemplated in this chapter.

No. 31.

ASSIGNMENT for benefit of creditors, with power of attorney for surrender of copyholds.

18-, Between [name of assignor] of [residence, &c.], of the first part, [name] of [residence, &c.] and [name] of [residence, &c.], of the second part, and the several other persons whose names and seals are intended to be hereunto set and subscribed, being creditors of the said [assignor] and who shall by themselves or other persons duly authorized, execute this present indenture, within the time hereinafter limited for that purpose, of the third part. WHEREAS the said [assignor] is seised to him and his heirs for an estate of inheritance in fee simple in possession according to the custom of the manor of within the said county of the said copyhold hereditaments hereinafter mentioned, and is also possessed of certain personal estate and effects. AND WHEREAS the said [assignor] now stands indebted unto several persons in divers sums of money, which he is at present unable to satisfy, but being willing and desirous to promote the payment thereof as much as in him lies, hath proposed and agreed to convey, surrender and assign all

his real, copyhold and personal estate whatsoever unto the said [name], their heirs, executors, administrators and assigns, upon such trusts as are hereinafter expressed and declared of and concerning the same. Now THIS INDENTURE WITNESSETH that in consideration of the premises, and for carrying the said proposal and agreement into execution, and in consideration of the sum of ten shillings of lawful money of Great Britain to the said [assignor] in hand paid by the said [name] and [name], at or before the sealing and delivery of these presents, the receipt whereof the said [assignor] doth hereby acknowledge, and from the same doth release the said [name] and [name], their executors, administrators and assigns. HE the said [assignor] HATH granted, bargained, sold, assigned, transferred, and set over, and by these presents DOTH grant, bargain, sell, assign, transfer, and set over unto the said [name] and [name], their executors, administrators and assigns. ALL and singular the household and other goods and furniture, books, plate, linen, china, wines, liquors, stock in trade, cattle, chattels, and all debts and sums of money now due and owing unto him the said [assignor]. AND all bonds, bills, notes, securities for money, and books of account for or relating to the same, or any of them, and all and singular other the estate and effects whatsoever of him the said [assignor] of in to or out of the same, and every part, article, and particular thereof, his own and his families' clothes, wearing apparel, and bedding alone excepted. To HAVE, HOLD, RECEIVE, TAKE AND ENJOY, all and singular the premises hereinbefore assigned, or expressed and intended so to be, and every of them, and every part, particle and particular thereof, with their appurtenances unto the said [name] and [name], their executors, administrators and assigns from henceforth for ever. UPON the trusts nevertheless hereinafter expressed of and concerning the same. AND THIS INDENTURE FURTHER WITNESSETH that in further pursuance, and part performance of the said proposal and agreement, and for the considerations aforesaid, he the said [assignor] hath made,