What people are saying - Write a review
We haven't found any reviews in the usual places.
16th Congress 17th Cong 1st Sess 2d Sess agricultural amendment Amer April assets bank bankrupt Bankrupt Act bankruptcy bill Bankruptcy Clause bankruptcy law bankruptcy legislation Bankruptcy Power Bayard benefit commercial Constitution constitutionality corporations debate debtor and creditor debtors debts December decision Democrats depression discharge enacted exemptions existing failure farmers favor February February 15 fraud Government held invalid homestead House Howard insolvent debtors insolvent laws interest James January January 23 John John Bach McMaster John McPherson Berrien Joseph Hemphill Joseph Hopkinson Joseph Story Julius Rosenthal July June land Law Rev March Massachusetts measure ment merchants North Carolina Ohio operation opposed Panic passed payment Pennsylvania political provision relief repeal reported ruin Senate South Carolina Southern speculation speech statute stay-laws of 1861 subject of bankruptcy Supreme Court Thomas tion traders unconstitutional United Virginia voluntary bankruptcy vote Webster Whigs William York
Page 7 - The power of establishing uniform laws of bankruptcy is so intimately connected with the regulation of commerce, and will prevent so many frauds where the parties or their property may lie or be removed into different States, that the expediency of it seems not likely to be drawn into question.
Page 4 - Though it be a doctrine of modern date, we think it now well established that the capital stock of a corporation, especially its unpaid subscriptions, is a trust fund for the benefit of the general creditors of the corporation. And when we consider the rapid development of corporations' as instrumentalities of the commercial and business world in the last few years, with the corresponding necessity of adapting legal principles to the new and varying exigencies of this business, it is no solid objection...
Page 6 - The Congress shall have power ... to establish uniform laws on the subject of bankruptcies throughout the United States.— Art.