Insolvent Laws.

The writ of capias ad satisfaciendum cannot be issued upon any judgment founded on a contract, express or implied, unless satisfactory proof be made before a justice of the Supreme Court, or a commissioner to take bail and affidavits in said court, to be certified by the justice or commissioner, establishing one of the particulars necessary to obtain a writ of capias, or that the defendant has rights or credits, moneys or effects, either in his own possession or in that of any other person or persons to his use, of the value of fifty dollars or over, which he unlawfully or unjustly refuses to apply in payment of such judgment. (a) (See "Imprisonment for Debt.")

Where any execution against the property of a defendant has been returned unsatisfied in whole or in part, leaving a balance due exceeding one hundred dollars, exclusive of costs, the plaintiff in such execution may file a bill in chancery to compel the discovery of any property or chose in action belonging to the defendant in such judgment, and of any property or chose in action due to him or held in trust for him, except such property as is now reserved by law, and to prevent the transfer of any such property, money, or chose in action, or the payment or delivery thereof to the defendant, except when such trust has been created by, or the fund in question has proceeded from some other person than the debtor himself. And upon the discovery of any such personal property, money, or chose in action, the court shall decree satisfaction out of the same, of the sum remaining due upon such judgments. (b)

The share or interest of a defendant in any joint-stock company, or other institution incorporated by the state, may be taken and sold under the writ of fieri facias as in the case of goods and chattels. (c)

13. Insolvent Laws.

Any person arrested or held in custody in any civil action, upon mesne or final process, may obtain his discharge from all debts due at the time, or contracted previously, but to become

(a) Acts of 1842, 132. (b) Acts of 1845, 141, 142. (c) Acts of 1842, 132.

Insolvent Laws.

due at a subsequent time, so far as regards the imprisonment of his person, by taking the benefit of the insolvent laws.

For this purpose, he may present a petition to the Inferior Court of Common Pleas, at any stated term, setting forth the causes of his imprisonment, with a true account of his personal and real estate, and an inventory of his deeds, notes, books of account, vouchers and securities, and a list of his creditors with the money due and owing them. The court shall then appoint a time (not less than forty days from the period of the application) and place for hearing what can be said for or against the liberation of the debtor, and the debtor must give thirty days' notice thereof in writing to each of his creditors, by personal service, or being left at their usual places of residence, where they reside in the state, and by publication in a newspaper of the state for the same period. If the court upon hearing and examination of the petition, account, and inventory, by interrogatories to the debtor or otherwise, shall be satisfied with his conduct, they may appoint one or more freeholders of the county as assignees, to whom the debtor is forthwith to execute an assignment of his estate both real and personal, and upon the making of this assignment and filing it with the, clerk, they may direct the sheriff to discharge the debtor from confinement on account of any debts previously contracted. The assignees are to proceed to collect the estate of the debtor, and convert it into money, to give notice to creditors to present their claims, to examine and adjust the same, any controversy respecting such debts to be referred to two arbitrators not creditors of the insolvent, and within eighteen months to distribute among the creditors who have become parties to the proceeding, the money on hand, and then. again at the expiration of each year, until a final settlement has been made.

All creditors who do not come in, and prove their debts within eighteen months after the assignment, if a division of the whole estate be made, will receive no dividend; but if the whole be not divided, and the debt be proved before the time appointed for a second division, then the creditor shall have his first dividend; but after the second division, such creditors are entirely barred. (a)

(a) Elmer's Digest, 250 to 258.

Courts.

14. Courts.

The original civil jurisdiction is distributed between a Court of Chancery, Supreme Court, Circuit Courts, and Courts of Common Pleas.

The judges of the Supreme Court, hold Circuit Courts twice a year in each county. The Courts of Common Pleas are held four times a year in each county.

All bonds, specialties and notes in writing, payable to any person, or order, or assigns, for a sum of money, may be transferred by assignment so as to vest the assignee with a similar power, and so toties quoties, and so as also to enable the assignee to prosecute any action at law upon the same, which might have been instituted by the original payee. All assignments, however, of bonds and specialties must be under hand and seal, and before two or more credible witnesses. (a)

All promissory notes, bearing date in the city or county of Philadelphia, whereby any person promises to pay to any other person, or to their order, for value in account or for value received, without defalcation or set-off (the last words to be inserted in the body of the bill), are held by the indorsees, discharged of any claim of set-off or defalcation on the part of the drawer or indorsers. (b)

(a) Purdon's Digest, 144.

(b) Ib. 962.

Damages upon Protested Bills of Exchange.-Interest.

2. Damages upon Protested Bills of Exchange.

Upon all foreign bills of exchange, drawn or negotiated within this state, which shall be returned unpaid, with a legal protest therefor, the following damages may be recovered from the drawers or indorsers, in addition to the principal sum and charges of protest, together with lawful interest upon such principal sum, damages and charges of protest, from the time at which notice of the protest was given, and payment of the principal, damages, and protest charges demanded: if drawn upon any person without the state, but within some other part of the United States, excepting the state of Louisiana, five per cent. damages upon the principal sum; if drawn as before, upon any person in Louisiana, or any other place in North America, or the islands thereof, except the northwest coast of America or Mexico, or in any of the West India or Bahama islands, ten per cent. upon the principal sum; if upon any person in the island of Madeira, the Canaries, the Azores, the Cape De Verd islands, the Spanish Main or Mexico, fifteen per cent. upon such principal sum; if upon any person in any place in Europe, or the islands thereof, twenty per cent. upon such principal sum; if upon any person in any other part of the world, twenty-five per cent. upon such principal sum. The damages thus allowed are to be in lieu of interest, and all other charges except charges of protest, to the time when notice of the protest and dernand of payment shall have been given. The amount of the bill and the damages payable thereon, are to be determined by the rate of exchange, or value of the money or currency mentioned in the bill, at the time of notice of protest and demand of payment. (a)

3. Interest.

The legal rate of interest is six per cent., and no more can be recovered in any action. Where usurious interest is taken, the lender is liable to a forfeiture of the principal, to be recovered in a qui tam action; but in a suit against the borrower, the lender only loses the usurious excess. (b)