This section is from the book "Popular Law Library Vol9 Bills And Notes, Guaranty And Suretyship, Insurance, Bankruptcy", by Albert H. Putney. Also available from Amazon: Popular Law-Dictionary.
Bankruptcy law is entirely statutory, no common law bankruptcy being recognized in this country. The respective powers of the Federal and State governments to pass bankruptcy laws have already been discussed.1 The text of the existing Federal Bankruptcy Law is here inserted in full.
1 Vol. II, subject 3, section 4.
 
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