Act of bankruptcy

(redirected from Bankruptcy Acts)
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(Law) an act of a debtor which renders him liable to be adjudged a bankrupt.

See also: Act

Webster's Revised Unabridged Dictionary, published 1913 by G. & C. Merriam Co.
References in periodicals archive ?
constitutionality of the Bankruptcy Acts of 1841 and 1867.
Under previous bankruptcy acts, liens passed through bankruptcy unaffected.
(34) By the end of the nineteenth century, all Australian colonies had developed their own bankruptcy legislation based on the English Bankruptcy Acts. (35) Upon the Federation of Australia in 1901, the Commonwealth Government was given power under the Constitution to make laws "with respect to bankruptcy and insolvency." (36) However, it was only in 1924 that the Commonwealth Government enacted the Bankruptcy Act 1924 (Cth), albeit that Act did not contain the relevant section.
(34) During the nineteenth century, in response to various national economic concerns, Congress enacted three controversial bankruptcy acts that focused on providing liquidation for the benefit of creditors with little attention to the needs of debtors.
Now the discharge in bankruptcy acts as an injunction against future collection efforts.
Although the United States has had many Bankruptcy Acts on the books, the Act of 1898 lasted the longest, enduring eighty years, until it was replaced by the Bankruptcy Reform Act of 1978.
Three federal bankruptcy acts were passed--in 1800, 1841, and 1867--but all were repealed shortly after their enactment for several reasons.
Creditors should remember that a trustee in bankruptcy acts as a court officer and owes a duty of care to both the creditors and the debtor.
fear is built up within teachers and administrators with items such as merit pay, school bankruptcy acts, tuition voucher plans, as well as commercial companies providing education for students.
The new category and harbinger of the next two bankruptcy acts was the allowance of property exempt from levy and forced sale under the laws of the United States and "such other property not included in the foregoing exceptions as is exempted from levy and sale" under state law as allowed in 1864, i.e., three years earlier.(55) Thus while state exemptions were allowed for categories of property not otherwise provided for, the state exemptions were static, meaning federal bankruptcy policy could not be subverted by states adjusting their exemptions.
Both the 1800 and the 1841 Bankruptcy Acts raised complaints from all sides because of their high costs of administration and the costliness of travel to federal courts.