Decisions upon the act 5th Parliament 1696, declaring Notour Bankrupts.
Subject_3 SECT. II.
What sort of Alienation falls under the sanction of the act 1696.
Buchanan v. Bailie Arbuthnot
Date: 25 January 1733 Case No. No 198.
Payment in cash does not fall under the act 1696.
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A notour bankrupt having a assigned a bond to a trading company for ready money, and having applied some part of the price for payment of a private debt due by him to one of the company; and it being contended that this was truly a voluntary assignation for satisfaction of a creditor; answered, The assignation was to the company for ready money, and not reducible; and payment thereafter out of the price to one of the company, was the same as made to a third party, and therefore effectual, unless it could be said, that actual payment is reducible upon this act.—This case was found not to fall under the act 1696.
