Lenoir County NcArchives Court.....Caswell Jr., Richard 1785 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/nc/ncfiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Connie Ardrey n/a August 13, 2009, 9:04 pm Source: Colonial Records Of North Carolina Written: 1785 Acts of the North Carolina General Assembly, 1785 North Carolina. General Assembly November 19, 1785 - December 29, 1785 Volume 24, Pages 710-782 CHAPTER XXXIX. An Act to Vest the Estate of Richard Caswell, Junior, in Trustees for the Benefit of His Creditors. Whereas it hath been represented to this General Assembly, That Richard Caswell, junior, late of Kinston in Dobbs county, being a person in trade, with a view to extend his commerce went to South Carolina, in the month of November, one thousand seven hundred and eighty-four, and at Charleston took up a considerable quantity of merchandize, principally on credit, and with the same he sailed from thence on the 27th day of December in the same year, on board a schooner bound to New Bern in this State, since which no certain intelligence has been obtained of him, whereby it is apprehended the vessel foundered at sea and he is lost; but as this is uncertain, no person can legally collect his debts or dispose of his property, which is considerable in value; and as he is not only indebted for the greatest part of the goods so purchased, but also to sundry inhabitants of this State, who as well as the friends and those nearest of kin to the said Richard Caswell, have besought the General Assembly to vest the estate of the said Richard Caswell in trustees for the benefit of his creditors: Therefore, I. Be it Enacted by the General Assembly of the State of North Carolina, and it is hereby Enacted by the authority of the same, That the whole estate of the aforesaid Richard Caswell, junior, both real and personal, be and the same hereby is vested in James Glasgow, Francis Childs and Bryan Whitfield, as trustees to and for the use and benefit of the creditors of the said Richard Caswell in the first instance, and afterwards to the use and benefit of the said Richard Caswell, his heirs and assigns. II. And be it further Enacted by the authority aforesaid, That the said trustees or a majority of them, the survivors or survivor of them, be and they hereby are impowered, authorised and required, to take into their possession all the estate of the aforesaid Richard Caswell, both real and personal; and in case of refusal or neglect of any person or persons to deliver up the possession of any real estate, or to deliver up any personal property belonging to the said Richard Caswell to the said trustees, or to pay to them any debt or demand which the said Richard Caswell had or has against such person or persons, the said trustees are hereby further authorised, impowered and required to commence and prosecute any suit or suits, either in law or equity for the recovery of the same, in as full and ample manner, to all intents and purposes, as the said Richard Caswell could lawfully do if he was personally present, and acquittances and discharges to grant which shall in all cases be binding on the said Richard Caswell, his heirs, executors, administrators and assigns for the same. III. And be it further Enacted by the authority aforesaid, That the trustees aforesaid, or a majority of them, the survivors or survivor of them, shall as soon as convenient may be, advertise in some one or more of the North Carolina newspapers, their appointment as trustees aforesaid, and require all persons who have any demands against the said Richard Caswell to produce the same properly authenticated, to some one or more of the said trustees within three months after the date of such advertisement, which shall be continued in the newspapers during the said time. IV. And be it further Enacted by the authority aforesaid, That the said trustees after giving three months notice shall sell all or such part of the real and personal estate of the said Richard Caswell as may be sufficient to enable them to discharge his debts, upon a credit of twelve months, the purchaser or purchasers giving bond with approved security, payable to the said trustees for double the sum by him or them purchased; and the said trustees or a majority of them, the survivors or survivor of them are and is hereby authorised to execute deeds of sale to such purchaser or purchasers, which shall insure to such purchaser or purchasers, and have the same effect in every respect as if granted by the aforesaid Richard Caswell or his heirs, so as to convey all the right, title, interest and property which the said Richard Caswell or his heirs have of, in and to the same. And, whereas, it may happen that the whole estate of the said Richard Caswell, jun., may not sell for a sum sufficient to pay and satisfy the whole demands of his creditors: V. Be it Enacted by the authority aforesaid, That in case the whole estate when sold agreeable to the directions of this State, shall not be sufficient to discharge all the legal demands against the same, that then and in such case, the trustees aforesaid or a majority of them, the survivors or survivor of them, are and is hereby authorised and impowered to make an equal distribution among the creditors of the said Richard Caswell, due regard being had to each creditor's demand, so as to pay an equal rate in the pound of all such demands. VI. And be it further Enacted by the authority aforesaid, That the trustees aforesaid be and they are hereby required to compleat the business of their trust within two years from the passing of this Act, and to render an account of their, proceedings on oath to the court of the county of Dobbs, where the same shall be entered on record for the benefit and security of all persons concerned. (Passed December 29, 1785.) This file has been created by a form at http://www.poppet.org/ncfiles/ File size: 6.2 Kb