Insolvent Law. No discharge thus obtained, can operate against any creditor residing out of the District of Columbia, except the creditor at whose instance the debtor may be confined. (a) The acting judge may appoint a time for creditors to exhibit their claims to the trustee, and it is the duty of the latter to report to the judge any claim which he may think proper to contest and the judge may either submit the same to a jury, having examined the debtor and creditor upon oath, touching the claim, or refer the controversy to arbitrators for their decision, and he may order a portion of the debtor's estate to be set apart for the eventual satisfaction of any contested claim. The trustee is to collect the assets of the insolvent, sell and convey the property of the same at such time and in such manner as the judge may direct, and distribute the proceeds pro rata among all the creditors, after satisfying all liens and incumbrances. No process against the real or personal property of the debtor is to have any effect, except executions and attachments in the nature thereof put into the officer's hands before the application. (b) (a) Statutes at Large, iii. 682. (b) Ib. ii. 239. VIRGINIA. 1. ASSURANCES OF DEBT. 2. INTEREST. 3. FACTORS. 4. LIMITED PARTNERSHIPS. 5. LIMITATION OF ACTIONS. 6. PAROL AGREEMENTS. 7. FRAUDULENT CONVEYANCES. 8. EFFECT OF DEATH UPON THE RIGHTS OF CREDITORS. 9. REMEDIES TO RECOVER DEBTS. 1. Assurances of Debt. Choses in action.-Bonds, bills, and promissory notes may be assigned, so as to confer upon the assignee thereof the right of suing in his own name, as fully as the original obligee or payee might have done. Suit may be brought at law by the assignee of a note or obligation against any previous assignor. (a) The assignee of a bond or promissory note not negotiable, although for a valuable consideration, and without notice, takes it subject to all the equity of the obligor. (b) Before the assignee of a bond or promissory note can resort to an assignor, he must show the use of due diligence to recover the amount due from the obligor or maker. (c) Bills of exchange and promissory notes.—Inland bills of exchange.—All bills of exchange or drafts for money in the nature of bills of exchange, drawn by any person residing in this state or in the United States, shall be considered as inland bills of (a) Tate's Digest, 30. (b) Norton v. Rose, 2 Wash. 233; Pickett v. Morris, 2 Wash. 255. Interest.-Factors. exchange; and if such bill or draft be protested for non-acceptance or non-payment, the drawer or indorser shall be subject to one per centum damages thereon, and interest at six per cent. from date of the protest. (a) If such bill be lost or miscarry, the drawer shall sign and deliver another of the same tenor, sufficient security being given to indemnify him against the former. (b) Foreign. Where any foreign bill of exchange, for the payment of any sum of money, in which the value is or shall be expressed to be received, shall be protested for non-acceptance or non-payment, the drawer or indorser shall be subject to ten per centum damages thereon, and interest at six per cent. from the date of the protest. (c) In all foreign bills of exchange for any debt due in current money of this commonwealth, or for current money advanced and paid for such bills, the sum in current money that was paid or allowed for the same shall be mentioned and expressed in such bill and in default thereof, in case such bill shall be protested, and a suit brought for the recovery of the money due thereby, the sum of money expressed in such bill shall be held and taken as current money, and judgment be entered accordingly. (d) Promissory notes.-All notes and bills made negotiable at the incorporated banks of the state are placed on the same footing as foreign bills of exchange. (e) 2. Interest. Six per cent. is the rate of interest established by law. Every contract in which a higher rate is taken or reserved is absolutely void, and the lender receiving such usurious excess is liable to a penalty of twice the debt, to be recovered in a qui tam action. (ƒ) 3. Factors. All the property, debts, stocks, and choses in action, acquired by any person trading or transacting business in his own name, with the addition of the words "agent," "factor," and "compa (a) R. C. c. 125, § 1. (d) Ib. c. 126, §4. (b) Ib. Suppl. c. 199, § 1. Limited Partnerships. ny," or "& Co.," and not disclosing the name of a principal or partner liable for all the debts incurred in the course of the business, shall, as to all creditors of such person, be taken to be his individual property, and liable for his debts, as if it were acquired solely on his own account. (a) 4. Limited Partnerships. Limited partnerships for mercantile, manufacturing, and mechanical business, may be formed on the following terms, but not for banking, brokerage, or making insurance. Such partnerships must consist of one or more general partners, responsible as at present by law, and one or more special partners, who shall contribute in cash a specific sum, and not be liable for debts of the partnership beyond the fund so contributed. General partners only are to transact the business, sign for the partnership and bind the firm. Persons wishing to form such partnership shall sign a certificate, which shall contain,-1. The name or firm under which the partnership is to be conducted: 2. The general nature of the business to be transacted: 3. The names of all the general and special partners, (distinguishing them,) and their respective places of residence: 4. The amount of capital of each special partner : 5. The period of the commencement and termination of the partnership. The certificate is to be acknowledged before a justice by all the parties, and the justice is to certify the same in the usual mode to the clerk of the proper court, to be recorded. The certificate, so acknowledged and certified, is to be filed in the clerk's office of the county or corporation in which is the principal place of business of the partnership, and to be recorded by the clerk at large. If the business is in several counties, a transcript is to be recorded in each. At the time of filing the certificate and acknowledgment, an affidavit of a general partner is to be also filed, that the amount to be contributed by each special partner has been actually paid in cash. No such partnership is deemed to have been formed until the certificate has been made, acknowledged, filed, and recorded, and the affidavit filed (a) Acts of 1839, 45. Limited Partnerships. as aforesaid; and any false statement will render all liable as general partners. The parties shall publish the terms of the partnership for at least six weeks after recordation, in two newspapers; if not, they shall all be deemed general partners. Affidavits of the publication by the printers may be filed with the clerk, and are received as evidence. Every renewal or continuance is to be made on the same terms and in the same manner as the formation. Every alteration in names of the partners, or nature of the business, or in the capital or shares thereof, or in any other matter specified in the original certificate, shall be deemed a dissolution, and the partnership so carried on afterwards shall be deemed a general partnership, unless renewed on the terms aforesaid. (This section does not refer to losses in the regular course of trade.) The names of the general partners only are to appear, in conducting the business. Suits may be brought by and against the general partners, and the special partners are suable by the firm. No part of the sum contributed by a special partner is to be withdrawn by him, but any partner may annually receive interest, provided the capital stock is not diminished, or profits over interest. If the capital is reduced by payment of interest or profits to special partner, he may be compelled to refund to creditors. Special, partners may examine into, and advise about the partnership concerns, but must not transact business or be employed as agent, attorney, or otherwise. General partners are to account to each other, and to the special partners. Every partner guilty of fraud is liable civilly, and also to indictment and fine, and imprisonment. Every sale, assignment or transfer of any property or effects of partnership made by such partnership when insolvent, or in contemplation of insolvency, or after or in contemplation of insolvency of any partner, with intent of preferring any creditor of such partnership or insolvent partner over other creditors, and |