Judge to give directions in case creditors (2) In case a sufficient number of creditors do not attend the meeting mentioned in section 16 of this Act, or fail to give do not attend. directions with reference to the disposal of the estate, the Judge of the County Court may give all necessary directions in that behalf. 50 V. c. 19, s. 11. Voting at meeting. Scale of votes. 18. At any meeting of creditors the creditors may vote in person, or by proxy authorized in writing, but no creditor whose vote is disputed shall be entitled to vote until he has filed with the assignee an affidavit in proof of his claim stating the amount and nature thereof. 48 V. c. 26, s. 17. 19. (1) Subject to the provisions of section 6, all questions discussed at meetings of creditors shall be decided by the majority of votes, and for such purpose the votes of creditors shall be calculated as follows: Forevery claim of orover $100, and not exceeding $200..1 vote. additional $1,000, or fraction thereof.....1 vote. (2) No person shall be entitled to vote on a claim acquired after the assignment unless the entire claim is acquired, but this shall not apply to persons acquiring notes, bills or other securities upon which they are liable. (3) In case of a tie the assignee, or if there are two assignees, then the assignee appointed by the creditors, or by the Judge, if none has been appointed by the creditors, shall have a casting vote. 48 V. c. 26, s. 18 (1–3). (4) Every creditor in his proof of claim shall state whether he holds any security for his claim or any part thereof; and if such security is on the estate of the debtor, or on the estate of a third party for whom such debtor is only secondarily liable, he shall put a specified value thereon and the assignee under the authority of the creditors may either consent to the right of the creditor to rank for the claim after deducting such valuation, or he may require from the creditor an assignment of the security at an advance of ten per cent. upon the specified value to be paid out of the estate as soon as the assignee has realized such security; and in such case the difference between the value at which the security is retained and the amount of the gross claim of the creditor shall be the amount for which he shall rank and vote in respect of the estate. 48 V. c. 26, s. 18 (4); 50 V. c. 19, s. 5. (5) If a creditor holds a claim based upon negotiable instruments upon which the debtor is only indirectly or secondarily liable, and which is not mature or exigible, such creditor shall be considered to hold security within the meaning of this section, and shall put a value on the liability of the party primarily liable thereon as being his security for the payment thereof; but after the maturity of such liability and its nonpayment, he shall be entitled to amend and revalue his claim. 48 V. c. 26, s. 18 (5). 20.-(1) Every person claiming to be entitled to rank on the Proof of claim. estate assigned shall furnish to the assignee particulars of his claim proved by affidavit and such vouchers as the nature of the case admits of. 48 V. c. 26, s. 19 (1). (2) In case a person claiming to be entitled to rank on the estate assigned, does not within a reasonable time after receiving notice of the assignment and of the name and address of the assignee, furnish to the assignee satisfactory proofs of his claim as provided by this and the preceding sections of this Act, the Judge of the County Court of the county wherein the debtor at the time of making the assignment resided or carried on business, may, upon a summary application by the assignee or by any other person interested in the debtor's estate (of which application at least three days' notice shall be given to the person alleged to have made default in proving a claim as aforesaid), order that unless the claim be proved to the satisfaction of the Judge within a time to be limited by the order, the person so making default shall no longer be deemed a creditor of the estate assigned, and shall be wholly barred of any right to share in the proceeds thereof; and if the claim is not so proved within the time so limited, or within such further time as the said Judge may by subsequent order allow, the same shall be wholly barred, and the assignee shall be at liberty to distribute the proceeds of the estate as if no such claim existed, but without prejudice to the liability of the debtor therefor. 50 V. c. 19, s. 6, part. (3) The preceding sub-section is not intended to interfere Rev. Stat. c. with the protection afforded to assignees, by section 36 of The 110. Act respecting Trustees and Executors, and the Administration of Estates. 50 V. c. 19, s. 6, part. (4) A person whose claim has not accrued due shall nevertheless be entitled to prove under the assignment and vote at meetings of creditors, but in ascertaining the amount of any such claim a deduction for interest shall be made for the time which has to run until the claim becomes due. 48 V. c. 26, s. 19 (2). (5) At any time after the assignee receives, from any person claiming to be entitled to rank on the estate, proof of his claim, notice of contestation of the claim may be served by the assignee upon the claimant. Within thirty days after the receipt of the notice, or such further time as a Judge of the County Court of the county in which the assignment is registered may on application allow, an action shall be brought by the claimant against the assignee to establish the claim, and a Accounts to be prepared by assignee. Notice of dividend sheet. Set off. Affidavits. copy of the writ in the action served on the assignee; and in default of such action being brought and writ served within the time aforesaid, the claim to rank on the estate shall be for ever barred. (a) The notice by the assignee shall contain the name and place of business of one of the solicitors of the Supreme Court of Judicature for Ontario, upon whom service of the writ may be made; and service upon such solicitor shall be deemed sufficient service of the writ. 50 V. c. 19, s. 7. 21. Upon the expiration of one month from the first meeting of creditors, or as soon as may be after the expiration of such period and afterwards from time to time at intervals of not more than three months, the assignee shall prepare and keep constantly accessible to the creditors accounts and statements of his doings as such assignee, and of the position of the estate; and he shall declare dividends of the estate whenever the amount of money in his hands will justify a division thereof, and also whenever he is required by the inspectors. 49 V. c. 25, s. 6. 22. So soon as a dividend sheet is prepared, notice thereof shall be given by letter posted to each creditor, inclosing an abstract of receipts and disbursements, shewing what interest has been received by him for moneys in his hands, together with a copy of the dividend sheet, noting thereon the claims objected to, and stating whether any reservation has or has not been made therefor; and after the expiry of eight days from the day of mailing such notice, abstract and dividend sheet as aforesaid, dividends on all claims not objected to within that period shall be paid. 49 V. c. 25, s. 7. 23. The law of set-off shall apply to all claims made against the estate and also to all actions instituted by the assignee for the recovery of debts due to the assignor, in the same manner and to the same extent as if the assignor were plaintiff or defendant, as the case may be, except in so far as any claim for set-off shall be affected by the provisions of this or any other Act respecting frauds or fraudulent preferences. 48 V. c. 26, s. 20. 24. Any affidavit authorized, or required, under this Act may be sworn before any person authorized to administer affidavits in the High Court, or before a Justice of the Peace, or, if sworn out of Ontario, before a Notary Public. 48 V. c. 26, s. 21. CHAPTER 125. An Act respecting Mortgages and Sales of Personal CHATTEL MORTGAGES WHERE POS- | MODE OF REGISTRATION, ss. 8, 9. SESSION OF GOODS UNCHANGED : WHEN MORTGAGED GOODS REMOVED Affidavits as to indebtedness, ss. SALES OF GOODS WHERE POSSESSION DISCHARGE OF MORTGAGES, ss. 17-20. UNCHANGED : To be registered or void as against creditors, s. 5. DISTRICTS, Ss. 21-23. MORTGAGES OF GOODS ΤΟ SECURE REGISTRATION WHERE TIME EXPIRES ADVANCES, S. 6. AFFIDAVIT OF BONA FIDES UNDER SS. 5 AND 6 MAY BE MADE BY ONE OF TWO OR MORE MORTGAGEES, &c., s. 7. ON A DAY ON WHICH OFFICES AUTHORITY TO TAKE OR RENEW MORT- H' ER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows: REGISTRATION OF CHATTEL MORTGAGES AND SALES OF GOODS WHERE POSSESSION IS UNCHANGED. tended with be registered, creditors, etc., 1. Every mortgage, or conveyance intended to operate as a Mortgages of mortgage, of goods and chattels, made in Ontario, which is not goods not ataccompanied by an immediate delivery, and an actual and con- change of postinued change of possession of the things mortgaged, or a true session, shall copy thereof, shall, within five days from the execution thereof or else be void be registered as hereinafter provided, together with the affidavit as against of a witness thereto, of the due execution of such mortgage or of the mortconveyance, or of the due execution of the mortgage or convey- gagor, with an ance of which the copy filed purports to be a copy, and also affidavit, etc. with the affidavit of the mortgagee or of one of several mortgagees, or of the agent of the mortgagee or mortgagees, if such agent is aware of all the circumstances connected therewith and is properly authorized in writing to take such mortgage (in which case a copy of such authority shall be registered therewith.) R. S. O. 1877, c. 119, s. 1. 2. Such last mentioned affidavit, whether of the mortgagee Contents of or his agent, shall state that the mortgagor therein named is affidavit. justly and truly indebted to the mortgagee in the sum mentioned When mortgage to take effect. Unless registered, mortgage void. with delivery be void as against credi tors, etc., of the vendor. in the mortgage, that it was executed in good faith and for the express purpose of securing the payment of money justly due or accruing due and not for the purpose of protecting the goods and chattels mentioned therein against the creditors of the mortgagor, or of preventing the creditors of such mortgagor from obtaining payment of any claim against him. R. S. O. 1877, c. 119, s. 2. 3. Every such mortgage or conveyance shall operate and take effect upon, from and after the day and time of the execution thereof. R. S. O. 1877, c. 119. s. 3. 4. In case such mortgage or conveyance and affidavits are not registered as hereinbefore provided, the mortgage or conveyance shall be absolutely null and void as against creditors of the mortgagor, and against subsequent purchasers or mortgagees in good faith for valuable consideration. R. S. O. 1877, c. 119, s. 4. Sales of goods 5. Every sale of goods and chattels, not accompanied by an not attended immediate delivery and followed by an actual and continued shall be regis- change of possession of the goods and chattels sold, shall be in tered, or else writing, and such writing shall be a conveyance under the provisions of this Act, and shall be accompanied by an affidavit of a witness thereto of the due execution thereof, and an affidavit of the bargainee, or his agent duly authorized in writing to take the conveyance a copy of which authority shall be attached to the conveyance, that the sale is bona fide and for good consideration, as set forth in the said conveyance, and not for the purpose of holding or enabling the bargainee to hold the goods mentioned therein against the creditors of the bargainor, and the conveyance and affidavits shall be registered as hereinafter provided, within five days from the executing thereof, otherwise the sale shall be absolutely void as against the creditors of the bargainor and as against subsequent purchasers or mortgagees in good faith. R. S. O. 1877, c. 119, s. 5. Mortgages of goods to secure advances to be valid if duly registered. the 6. In case of an agreement in writing for future advances for purpose of enabling the borrower to enter into and carry on orto indemnify business with such advances, the time of repayment thereof not endorsers, etc., being longer than one year from the making of the agreement, and in case of a mortgage of goods and chattels for securing the mortgagee repayment of such advances, or in case of a mortgage of goods and chattels for securing the mortgagee against the endorsement of any bills or promissory notes or any other liability by him incurred for the mortgagor, not extending for å longer period than one year from the date of the mortgage, and in case the mortgage is executed in good faith, and sets forth fully by recital or otherwise, the terms, nature and effect of the agreement, and the amount of liability intended to be created, and in case the mortgage is accompanied by the affidavit of a witness thereto of the due execution thereof, and by the affidavit of the |