The Constitutionality of the Concluding Exemption Clause in the Bankrupt Law

Abstract

The fourteenth section of the national Bankrupt Law of 1867, after designating the manner in which the title to the bankrupt's property shall be transferred to and vested in his assignee, proceeds to except a number of specified articles from the operation of the assignment, and then makes a further and concluding exemption. in favor of "such other property not included in the foregoing exceptions, as is exempted from levy and sale upon, execution or other process or order of court, by the laws of the state in which the bankrupt had his domicile at the time of the commencement of the proceedings in bankruptcy, to an amount not exceeding that allowed by such state exemption laws in force in the year 1864."