T. 9, CH. J. PART III. [from such creditors; but there must not be more than five nor less than three members (s. 22, (1)). If a committee is not appointed, the Board of Trade will direct the trustee in the matters in which he is required to have the permission of the committee of inspection (s. 22, (9)). These matters are enumerated in the following enactment :- 1610s. Powers exercisable by trustee The trustee may, with the permission of the committee of inspection, do all or any of the following things; (1) mission of Carry on the business of the bankrupt, so far as may be with per committee of inspec tion. necessary for the beneficial winding up of the same; (2) Bring, institute, or defend any action or other legal proceeding relating to the property of the bankrupt; (3) Employ a solicitor or other agent to take any proceedings or do any business which may be sanctioned by the committee of inspection; (4) Accept as the consideration for the sale of any property of the bankrupt, a sum of money payable at a future time subject to such stipulations as to security and otherwise as the committee think fit; (5) Mortgage or pledge any part of the property of the bankrupt for the purpose of raising money for the payment of his debts; (6) Refer any dispute to arbitration, compromise all debts, claims, and liabilities, whether present or future, certain or contingent, liquidated or unliquidated, subsisting or supposed to subsist between the bankrupt and any person who may have incurred any liability to the bankrupt, on the receipt of such sums, payable at such times, and generally on such terms as may be agreed on ; (7) Make such compromise or other arrangement as may be thought expedient with creditors, or persons claiming to be creditors, in respect of any debts provable under the bankruptcy; (8) Make such compromise or other arrangement as may be thought expedient with respect to any claim arising out of or incidental to the property of the bankrupt, made or capable of being made on the trustee by any person or by the trustee on any person; [(9) Divide in its existing form amongst the creditors, PART III. according to its estimated value, any property which from its peculiar nature or other special circumstances cannot be readily or advantageously sold. The permission given for the purposes of this section shall not be a general permission to do all or any of the above-mentioned things, but shall only be a permission to do the particular thing or things for which permission is sought in the specified case or cases" (s. 57). 1610t. or scheme adjudica The creditors may at any time after adjudication, resolve composition by special resolution, to entertain a composition or scheme, after whereupon the same proceedings ensue as in the case of tion. composition or scheme before adjudication; and if default is made in carrying out the composition the bankruptcy may be revived (s. 23). 1610u. bankrupt. At any time after being adjudged bankrupt, the bank- Discharge of rupt may apply to the Court for an order of discharge, but the application will not be heard until the public examination of the bankrupt is concluded. Notice of the day fixed for the hearing is published, and sent to the creditors, and on the hearing of the application, the Court takes into consideration the report of the official receiver as to the bankrupt's conduct and affairs, and may either grant the order unconditionally, or, on proof of certain acts of misconduct by the bankrupt, refuse or suspend it, or qualify it by conditions as to after-acquired property; but the Court will refuse discharge if the debtor has committed any misconduct under the Bankruptcy Law, or under Part II. of the Debtors Act, 1869 (s. 28). The provisions of the 54th section of the Bankruptcy Act, 1869, under which an undischarged bankrupt is protected for three years from the close of his bankruptcy are not re-enacted, and provision is made for enabling the Court to make an order under which a bankrupt's after-acquired property may be recovered and applied for the benefit of his creditors (s. 28, (6)). 1610v. PART III T., CH. 3. Annulling of bankruptcy. Distribution of property. Administra tion in of estate of insolvent, [The Court may annul a bankruptcy on approval of a composition or scheme, or where it is of opinion that the debtor ought not to have been adjudged bankrupt, or on proof that the debts of the bankrupt are paid in full (ss. 23, 35). 1610w. The first dividend must, except under special circumstances, be declared and distributed within four months from the conclusion of the first meeting of creditors, and subsequent dividends at intervals of not more than six months (s. 58); and before the declaration of the final dividend, notice must be given to persons claiming to be creditors, but who have hitherto failed to establish their claims (s. 62). The committee, and not the general creditors, may authorize any allowance to the bankrupt (s. 64, (2)). 1610x. The estate of a deceased debtor may be administered in bankruptcy bankruptcy, on a petition in the prescribed form by any person dying creditor whose debt is sufficient to support a bankruptcy petition; but where an order for administration otherwise than in bankruptcy has been obtained, the proceedings can only be transferred to bankruptcy, with the consent of the Court (s. 125). 1610y. Small bankruptcies. In the case of small bankruptcies,—i.e., where the assets are expected to be under £300,-a more summary proce dure is adopted. In these cases the official receiver acts as trustee, unless the creditors specially resolve to appoint a trustee of their own, and proceeds to get in the assets and wind up the estate as quickly as possible (s. 121). Where a debtor is unable to pay forthwith a County Court judgment debt, and alleges that his whole indebtedness amounts to a sum not exceeding £50, the Court may make an order for the administration of his estate or earnings, and for the payment of his debts, in part or wholly, by instalments or otherwise. The order of the Court protects the debtor from proceedings by his scheduled creditors (s. 122).] 1610z. TITLE X. OF ALIENATION; AND FIRST OF ALIENATION GENERALLY, CHAPTER I. GENERAL OBSERVATIONS ON ALIENATION. T. 10, CH. 1. How con may be IN former times, many conveyances were made by parol PART III or word of mouth only, without writing; but as this occasioned a variety of frauds, it was enacted by the stat. 29 veyances Car. 2, c. 3, that no lease, estate, or interest in lands, tene- made. ments or hereditaments, made by livery of seisin, or by parol only (excepting leases not exceeding three years from the making, and whereon the reserved rent is at least twothirds of the real value), shall be of greater force than an estate at will; nor shall any assignment, grant, or surrender of any interest in any freehold hereditaments be valid; unless in both cases the same be put in writing, and signed by the party granting or his agent lawfully authorised in writing (a). And by ss. 3 and 4 of the stat. 7 & 8 Vict. c. 76, and s. 3 of the stat. 8 & 9 Vict. c. 106 (by which the stat. 7 & 8 Vict. c. 76 was repealed as from the 1st of October, 1845), feoffments, partitions, exchanges, leases, assignments, and surrenders (subject to certain exceptions) are required by deed (b). 1611. At the common law, on the grant of a seigniory, rent, Attornment. remainder, or reversion, an attornment or consent to the (a) 2 Bl. Com. 297. See infra, par. 1695. (b) See the different sections on these conveyances. T. 12, Ch. 2, PART III. 1.18, CH1. grant was necessary on the part of the tenant of the particular estate, in tail, for life, or for years. But attornment is rendered unnecessary by the statute 4 & 5 Anne c. 16, ss. 9, 10 (a). A person Canhot derogate from his 1612. A person cannot derogate from his own grant; and hence he cannot, by parting with his estate, prejudice those in own grant. whose favour he has created estates, interests, or charges out of that estate (b). The rule, Cessante statu primitivo cessat et derivativus, applies only when the original estate determines by limitation or is defeated by a condition or by forfeiture. It does not apply when the owner of the estate does any act which amounts to an alienation or transfer, even though such an alienation or transfer produces an extinguishment of the original estate (c). Therefore, if one who has a lease for life or years of the manor to which an advowson is appendant, grants the next avoidance that shall happen during the lease, or grants a rent out of the manor, and then surrenders the manor so that his estate is gone, the grant of the next avoidance or of the rent continues good, and the grantee shall enjoy it according to the grant so long as the estate that is surrendered would have had continuance if not surrendered (d). So, if a lessee for years of an advowson grants the next avoidance if it shall happen to become void during the term, and afterwards surrenders the estate to the person who has the inheritance, the grantee shall have the next avoidance, if it happen before the term would have expired in regular course (e). So, if a tenant for life or lessee for years grants (a) 1 Steph. Com. 448, 450; 3 Jarm. & Byth. by Sweet, 36; 2 Pres. Shep. T. 297; Burton, § 41; Watk. Conv. 3rd ed. by Prest. 171; Co. Litt. 309a. In Co. Litt, a large space is given to the subject of attornment, see 309 a-325 a. (b) See 2 Pres. Shep. T. 285-6; Co. Litt. 233 b, 238 b; Watk. Conv. 3rd ed. by Prest. 24; Newby v. Harrison, 1 Johns. & Hem. 393; Siddons v. Short, L. R. 2 C. P. D. 572. (c) 2 Pres. Shep. T. 285; Watk. Conv. 3rd ed. by Prest. 24, 25. (d) 2 Pres. Shep. T. 285. |