above named Defendant for $ cosis of suit.

debt, and $

2nd. No part of said moneys so recovered has been paid or satisfied, and the said judgment remains in full force (or "the sum of

, part

only of the said moneys has been paid, and the judgment remains in full force as to the residue of the said moneys so recovered thereby."

3rd. I (or "the said Plaintiff") am entitled to have execution of the said judgment, and to issue execution thereupon (for the sum of $

verily believe. Sworn, &c.

) as I

CHAPTER XI.

INSOLVENCY.

But little can be said on the subject of insolvency in a work of this kind. To treat of it efficiently would swell the limits of the present volume far beyond due bounds. Our remarks, therefore, under this head will necessarily be brief and very general.

And first, we observe that the present "Act respecting Insolvency," (Dom. Stat. 32 & 33 Vic., cap. 16,) is restricted in its operation and provisions to Traders "" only. The common definition of a Trader" is, "one engaged in the business of buy

ing and selling." Until authoritative decisions have been pronounced by our Courts on the question, who are and who are not traders? it would be somewhat presumptuous in a popular treatise, such as this is, to attempt, with any pretensions to ac curacy, to specify the features which distinguish the trader from the non-trader.

According to the Imperial Statutes relating to bankruptcy, the following are some of the parties who are traders:-Auctioneers, bankers, brokers, brickmakers, builders, carpenters, cattle dealers, coach proprietors, cow keepers, dyers, keepers of inns, taverns or hotels, lime burners, livery stable keepers, market gardeners, millers, printers, ship owners, warehousemen and wharfingers. It is presumed that any person who engages in buying and selling generally, so as to supply any one who will come to buy, will be held a trader.

Under the act, then, any trader debtor who is unable to meet his engagements, and is desirous of making an assignment of his estate and effects for the benefit of his creditors, may make such assignment to any official assignee resident within the county or place where the insolvent has his domicile or place of abode; or if there be no official assignee there, then to some such assignee in the county or place nearest thereto. The official assignee to whom such assignment is made, is called the "interim assignee." Official assignees are nominated and appointed by the various boards of trade throughout the Province; and in places where no such boards exist; or where, although

existing, they fail to appoint, the County Judge may nominate them.

As soon as the assignment to the interim assignee has been made, a meeting of creditors must be called. This is done by advertisement for two weeks in the "Official Gazette " of the province; and in every issue, during two weeks, of some one newspaper published at or nearest to the insolvent's chief place of business. Notices of such meeting must also be mailed to each creditor, postage paid, at least ten days before, accompanied by a list of the creditors so far as known.

Previous to the meeting the assignee must prepare for exhibition thereat, statements showing the position of the insolvent's affairs, and containing the particulars required by the act together with a statement of the assets.

The insolvent must assist in the preparation of these statements, and must attend the meeting in order that he may answer any questions that may be put to him touching his affairs. At the meeting he must also file a declaration under oath stating whether or no the assignee's statements are correct, and if incorrect, in what particulars.

At the meeting the creditors who have proved their claims may appoint an assignee, who will thereupon take the place of the interim assignee, and to whom the estate and effects of the insolvent will thenceforth stand assigned. If no assignee is appointed, or being appointed, refuses to act, the interim assignee will continue. If an interim assignee fails or neglects to execute an assignment within

twenty-four hours after nomination of any assignee, he may be imprisoned for a period not exceeding one month.

An assignment vests in the interim assignee, in the first instance, and afterwards in the creditor's assignee, if one be appointed, the books, vouchers, accounts, letters and papers, relating to the Insolvent's business, and all moneys and negotiable papers, stocks, bonds and other securities, as well as the real estate of the insolvent, and all his interest therein, and all his personal estate, debts, assets and effects, which he has or may become entitled to at any time before his discharge: excepting only such as are exempt from seizure under execution. Pledgees of, and parties having liens on, any of the insolvent's chattels, are entitled to a preferential claim thereon.

Where an insolvent possesses real estate, the assignment to the assignee should be registered in the usual way.

The foregoing observations apply to voluntary assignments. In the following cases a trader is declared to be insolvent and compulsory liquidation may be enforced :

1. If a trader debtor absconds, or is immediately about to abscond, with intent to defraud, defeat or delay any creditor, or to avoid being arrested, or served with legal process, or being absent, remains so with such intent, or conceals himself with such intent.

2. If he secretes or is immediately about to secrete his estate and effects with such intent.

3. If he assigns, removes or disposes of any of his property; or is about to do so with such intent. 4. If with such intent he procures his effects to be taken in execution for a sum exceeding $200.

5. If he has been imprisoned or on the gaol limits for more than 30 days in a civil action for more than $200; or if he has escaped.

6. If he wilfully refuses or neglects to appear on any rule or order to be examined as to his debts.

7. If he wilfully refuses or neglects to obey or comply with any rule or order for payment of debts.

8. If he wilfully neglects or refuses to obey or comply with an order of the Court of Chancery for payment of money.

9. If he has made any general assignment for benefit of creditors otherwise than under the act; or being unable to meet his liabilities in full, makes any sale or conveyance of his assets without the consent of his creditors, or without satisfying their claims.

10. Or if he permits any execution to remain unsatisfied till within four days of time fixed for sale, or fifteen days after seizure.

In case any creditor, by affidavit of himself or other person, shows, to the satisfaction of the Judge, that he is a creditor for not less than $200, and also shows, by affidavits of two credible persons, such facts and circumstances as satisfy such Judge that the debtor is insolvent as above mentioned, the Judge inay make an order for an attachment to issue, under which the debtor's effects will be seized and handed over to an official assignee, who