the contrary, enjoy all the rights of lien, privilege and hypothecation, granted to married women by the Napoleon Code.

AR1.554. All the household goods, furniture, diamonds, pictures, gold and silver plate and other like personal chattels, whether they are appropriated to the use of the husband or of the wife, shall go to the creditors, under whatever system the marriage may have been contracted; nor shall the wife be entitled to receive any part thereof, except her linen and wearing apparel, which shall be allowed to her in conformity to the provisions of art. 529.

She may however take back such jewels, diamonds and plate as she may prove by good and lawful inventories, or by a list annexed to the marriage articles, to have been given to her by marriage contract, or to have accrued to her by succession only.

ART. 555. If the wife shall embezzle, withdraw or secrete any of the articles mentioned in the next preceding article, or any merchandise, cash, bills of exchange, notes or other negotiable paper, she shall be adjudged to make restitution to the creditors, and shall moreover be proceeded against as an accomplice in a fraudulent bankruptcy.

ART. 556. If the wife shall lend her name or assistance to the execution of any act, which may be done by her husband to defraud his creditors, she may, likewise, (according to the nature of the case) be prosecuted as an accomplice in a fraudulent bankruptcy.

ART. 557. The provisions of this section are not retrospective, and shall not affect vested rights at the time of the publication thereof.

CHAPTER X.

Of the Liquidation and Distribution of the Proceeds of the Personal Property.

ART. 558. The proceeds of the collection and sale of the debtor's personal effects and property, after deducting the costs and charges, the allowance made to the debtor, and the moneys paid to the privileged creditors, shall be divided among all the creditors, in proportion to their respective debts duly admitted and proved.

ART. 559. For that purpose, the syndics shall deliver every month to the commissioner a statement of the affairs of the failure and of the moneys at their disposal, and the commissioner shall order a dividend to be made, if the state of the funds warrant it, and shall himself determine the amount to be divided.

ART. 560. The creditors shall be informed of the commissioner's decision, and of the time when the dividends are to be paid. ART. 561. No payment shall be made, but on the exhibition of the evidences of the respective debts.

The treasurer shall indorse on each voucher the payment that he shall make thereon, and the creditors shall sign a receipt for the same in the margin of the general statement of the dividends.

ART 562. When the liquidation shall be terminated the syndics shall call a meeting of the creditors, at which the commissioner

shall preside: the syndics shall there render their accounts, and the balance remaining in their hands shall be finally distributed. ART. 563. The meeting of creditors may, in any stage of a cause, with the authorization of the tribunal of commerce, and due notice given to the debtor under failure, make any composition or compromise, and even alienate any debts or claims, actions and rights of action yet depending and not finally recovered. In such case, the syndics shall sign and execute all the necessary acts and instruments.

.

CHAPTER XI.

Of the Mode of Proceeding to the Sale of the Debtor's Real

Property.

ART. 564. The syndics of the meeting of creditors shall, with the authorization of the commissioner, proceed to the sale of the debtor's real property, in the manner and form prescribed by the Napoleon code, for the sale of the estates of minors..

ART. 565. During the space of one week after property shall have been struck off or adjudicated at a public sale, every creditor shall have a right to bid above the purchaser, provided such bid exceeds, by one tenth part, the sum for which the property was struck off.

TITLE II.

Of a General Assignment, or CESSIO BONORUM. (191)

ART. 566. A general assignment of property, or cessio bonorum, by a debtor who has failed, and is in a state of insolvency, is either voluntary or judicial.

ART. 567. The effects of a voluntary assignment depend on the contract or agreement, which takes place between the debtor and his creditors. (192)

(191) Cession de biens. The cessio bonorum, or discharge of an insolvent debtor from imprisonment, on his making a general assignment of all his property for the benefit of his creditors, is borrowed from the Roman system of jurisprudence. It was established at Rome by the Julian law de bonis cedendis, which was afterwards confirmed and improved upon by the rescripts of several emperors, and particularly of Justinian, who made several wise and humane regulations upon the subject, and reduced it into a regular system, the details of which are preserved in the Code.

When an unfortunate debtor applied for the miserabile auxilium, as Justinian humanely calls it, of the Julian law of cessio bonorum, the creditors were called together, to deliberate whether they would grant to him a letter of license for a reasonable time, (tempus indulgere) which was generally a period of five years, (quinquennale spatium,) and leave him during that time at full liberty and free from every restraint (omni corporali cruciatu semoto); or receive from him a general assignment of all his property, (cessionem accipere) and discharge him altogether and for ever from imprisonment. On this deliberation, the sentiment of a majority in value was to prevail. If equally divided, then that of a majority in number; and if again divided, then the judge decreed a letter of license, as the milder course. Cod. Lib. 7. Tit. 61. 1. 8.

(192) That is to say, between him and a legal majority of his creditors;-for, a voluntary assignment, in the sense in which it is generally understood in this country, by which an insolvent debtor assigns over his property to persons of his choice,

ART. 568. A judicial assignment or cession does not extinguish the rights of action of the creditors against the estate and property, which the debtor may subsequently acquire. It has no other effect than to release him from imprisonment and prevent his being again imprisoned for the same debts. (193)

ART. 569. A debtor who wishes to be admitted to the benefit of cession must make application to the tribunal, who shall cause all the necessary documents to be laid before them. The application shall be inserted in the newspapers; as is provided by art. 683 of the code of civil proceedings.

ART. 570. Such application shall not prevent or suspend the effect of any suit or legal process; but the tribunal may, after hearing the parties, issue a provisional order to stay proceedings.

ART. 571. The debtor admitted to the benefit of cessio bonorum shall be bound to make or reiterate his cession in person, and not by attorney, in the presence of his creditors, at the sitting of the tribunal of commerce of the place where he resides; and if there is no tribunal of commerce, at a sitting of the municipal council. (194) His declaration shall, in the latter case, be evidenced by the procès verbal of the huissier, attested by the mayor.

ART. 572. If the debtor is in confinement, the decree admitting him to the benefit of cession, shall contain an order to bring him into court, with the usual and necessary precautions to prevent his escape, in order that he may make his declaration, agreeably to the preceding article.

ART. 573. The names, surnames, profession and place of residence of the debtor, shall be inscribed on tablets made for that purpose, and hung up in the hall where the tribunal of commerce holds its sittings, or in that of the civil tribunal where there is no tribunal of commerce, and also in the hall of the municipal council and at the public exchange.

ART. 574. The creditors may, in execution of the decree which admits the debtor to the benefit of cessio bonorum, proceed to the sale of his real and personal property. Such sale shall be made

preferring sach of his creditors as he thinks proper, and imposing terms and conditions upon the remainder, would be considered in France as fraudulent, and of course null and void.

(193) This is almost literally copied from the provisions of the Digest and Code. Qui bonis cesserint, nisi solidum creditor receperit, non sunt liberati. In eo enim tantummodo hoc beneficium eis prodest, ne judicati detrahantur in carcerem. Cod. Lib. 7. Tit. 6. 1. 1. Is, qui bonis cessit, si quid posted adquisierit, in quantum facere potest, convenitur. Dig. lib. 42. Tit. 3. 1. 4.*

(194) Formerly, in France, the benefit of cessio bonorum was granted to the insolvent debtor at the foot of the pillory; and at an era not very remote, the decree by which the debtor was admitted to the benefit of that law, always contained a clause, that he should wear a green cap, as the evidence of his discharge, on pain of being again arrested by his creditors, when found without it. Jousse, Comment. on the Ord. of 1673, p. 179. In former times, the wearing of this badge of disgrace was strictly insisted upon; afterwards it was sufficient to carry it in the pocket, and at last it was generally dispensed with; but to this day, the bonnet verd is, in France, a term of reproach, frequently made use of, in allusion to an insolvent debtor or bankrupt.

in the manner and form prescribed for sales by the meeting of creditors.

ART. 575. The following persons shall not be admitted to the benefit of cession, to wit: 1. Those guilty of stellionate, (195) fraudulent bankrupts, persons convicted of theft or swindling, factors, and other accountable agents.

2. Foreigners, guardians, administrators, trustees and depositaries. (196)

TITLE III.

Of Stoppage IN TRANSITU (197) and in the hands of the Consignee. ART. 576 The vendor may, in case of failure, reclaim the merchandise by him sold and delivered, and for which he has received no payment, under the circumstances and on the conditions herein after specified.

ART 577. The right to re-claim only takes place while the merchandise is yet in transitu, either by land or water, and before it has been delivered into the stores of the purchaser who has failed,

(195) This is a term of the civil law, synonymous to the English word swindling; but it is more particularly applied to those who sell property which does not belong to them, or who knowingly mortgage their own estate beyond its value, without giving notice of the prior liens. It is derived from the Latin stellio, which means a little animal of the lizard kind, said to be very cunning.

(196) Similar exceptions are generally made in the statutes enacted in England for the relief of insolvent debtors. See Stat. 21 Geo. 3. c. 63. § 36. 37.

(197) The title of this subdivision is in the original de la revendication, which word, from the Latin vindicatio, used in the sense in which it means the assertion of a claim and coupled with the iterative particle re, is the head of a very extensive title in the French law, and includes every case in which a man may re-claim his property, after having parted with it. In this code it is only applied to cases that are connected with failure or bankruptcy. The principal, whose factor becomes insolvent, is allowed to re-claim his goods before they come to the hands of the latter, and even while they remain in his possession unsold, and in the same condition in which he received them; and the vendor, whose consignee fails before the property comes into his possession, is permitted in like manner to claim them while on their passage from him to the bankrupt vendee. The first of these two principies has always been recognized in the English law, and the latter had been indeed, sometimes acted upon in the court of Chancery in England, but was not until lately introduced into the common law courts, where it has received the denomination of stoppage in transitu. This code very properly classes these two rules under the same general head, as they are in fact connected together by the closest analogy. But there being no term in the English language entirely applicable to them both, we have thought it best to include the:a together within the general descriptive term of stoppage, coupled with words expressive of its application to the particular cases.

By the French law, as it stood before the publication of this code, not only goods consigned to a factor, to be disposed of for the benefit of the principal, were allowed, if the factor became bankrupt, to be stopped or reclaimed; but goods actually sold and delivered to him might be claimed in like manner, provided they remained in the same condition as when they were delivered. Abbott on Ship. 352. Domat's Civ. Law, book 4. tit. 5. §2. art. 3. This widely extended principle is now limited to the rule established by the law of England, which, no doubt was in the contemplation of the French legislators when this code was framed. Thus the doc. trine of revendication in mercantile cases, first borrowed in part by the English law from the French system of jurisprudence, has been modelled in France to the shape and reduced to the extent, that it had received in England.

or those of the factor or agent, who is commissioned to sell the same for his account.

ART. 578. Merchandise cannot be re-claimed or stopped in transitu, if it has been bonâ fide sold with transfer and delivery of the invoices, bills of lading or carriage bills.

ART. 579. The vendor who re-claims merchandise, by virtue of this law, shall be bound to indemnify the estate of the vendee for all advances made by the latter on account of the freight, carriage, commission, insurance or any other charges, or to pay the same, if they are yet unpaid.

ART. 580. No merchandise can be thus re-claimed, but such as shall be acknowledged to be identically the same; and only when it shall appear that the bales, hogsheads or wrappers, in which it was inclosed, at the time of the sale, have neither been taken away nor changed, and that the merchandise has not suffered any change or alteration in its nature or quantity.

ART. 581. Goods consigned to the party in a state of failure, by way of deposit, or to be sold for the account of the consignor may be re-claimed, as long as they remain in his hands or at his disposal; and in the latter case, the money arising from the sale thereof may be claimed, if not yet paid to the consignee, or carried to account current between him and the purchaser.

ART. 582. In all cases of stoppage or claim (except those of goods consigned or deposited), the syndics of the creditors shall have a right to retain the merchandise claimed, on paying to the claimant the price agreed upon between him and the insolvent party.

ART. 583. Remittances made in negotiable or other securities not yet due, or still remaining unpaid, and which shall be found in the possession of the debtor at the time of his failure, may be stopped or re-claimed; if such remittances were made by the owner merely for collection, and that the money might be kept at his disposal or applied to the payment of his acceptances, or notes payable at the debtor's domicile.

ART. 584. Similar remittances may, in the same manner be reclaimed, although made without any special acceptance or appropriation, if they are entered in an account current in which the owner appears only on the creditor side; but otherwise, if at the time of making the remittance, he was indebted to the consignee in any sum whatever.

ART. 585. In all cases in which the law permits the stoppage or re-claiming of merchandize, the syndics shall inquire into the nature and circumstances of the claim, and may admit the same with the commissioner's approbation; if any contest shall arise, the tribunal shall decide, after having heard the commissioner.