In re Lenters

Citations

• 225 F. 878
• 1915 U.S. Dist. LEXIS 1323

Syllabus

<p>1. Bankruptcy <@=396—Exemptions—Statutory Provisions.</p> <p>A bankrupt’s right to exemption must be deduced from the state law, but must be asserted in the maimer prescribed by Bankr. Act July 1, 1898, c. 541, 30 Stat. 544.</p> <p>[Ed. • Note.—For other cases, see Bankruptcy, Cent. Dig. §§ 659-668: Dec. Dig. <S=396.]</p> <p>2. Bankruptcy <@=395—Exemptions—Statutory Provisions—Construction.</p> <p>The bankruptcy court should administer the exemption law liberally, and should not attempt to defeat an exemption by application of technical rules.</p> <p>[Ed. Note.—For other cases, see Bankruptcy, Cent. Dig. § 658; Dec. Dig. <@=395.]</p> <p>3. Bankruptcy <@=400—Exemptions—Statutory Provisions—Construction.</p> <p>A bankrupt filed his schedules, setting forth a claim for an exemption of $300 in cash under a state statute providing that property to the value of $300 should be exempt. The value of the drug business of the bankrupt was not set out in his schedules. After the filing of the schedules, the business and stock were sold as a going concern for cash and notes. Sub sequently the bankrupt filed a petition to amend his schedules by adding the cash and notes as the value of the business, and the petition was allowed. Four days later the bankrupt filed a petition for leave to amend his original claim of exemption, asking that $300 in cash be set apart out of the proceeds of the sale. The state law provided that property to the value of $300 should be exempt, and that the person entitled to an exemption could elect to retain the same out of any bank notes, moneys, stocks, or other indebtedness. Held, that the bankrupt was entitled to his exemption of $300 in cash, in view of Bankr. Act, § 7 (Comp. St. 1913, § 9591), which does not require that the bankrupt shall enumerate articles claimed as exempt, and section 47 (section 9631), requiring the trustee to set apart an exemption claimed.</p> <p>[Ed. Note.—For other cases, see Bankruptcy, Cent. Dig. §§ 670-675; Dec. Dig