composition
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 237 U.S. 447 - Cumberland Glass Manufacturing Co. v. De Witt & Co. · 1915Most cited · 522 citing opinions
in bankruptcy
The effect of the composition proceeding is to substitute composition for bankruptcy proceedings in a certain sense, and in a measure to supersede the latter proceeding, and to reinvest the bankrupt with all his property free from the claims of his creditors.
How the Supreme Court has restated “composition”
Each Supreme Court definition of “composition,” sized by how often later courts cited it. “Change” is measured by wording overlap with earlier definitions — a rough signal, not a semantic judgment.
How often courts cite the cases defining “composition”
Court decisions citing the 4 opinions that defined “composition” — 1,213 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 4 definitions, chronological · 1915–1966
Composition is a settlement by the bankrupt with his creditors. In a measure, the composition supersedes, and is outside of, the bankruptcy proceedings. It originates in a voluntary offer by the bankrupt; and results, in the main, from voluntary acceptance by his creditors.
bankruptcy
a composition is 'a settlement of the bankrupt with his creditors'—in a measure superseding and outside of the bankruptcy proceedings—which originates in a voluntary offer by the bankrupt, and results, in the main, from voluntary acceptance by his creditors; that the respective rights of the bankrupt and the creditors are fixed by the terms of the offer; and that upon the confirmation of the composition they get what they 'bargained for,' and no more
bankruptcy
A composition under Chapter XIII, unlike an extension, is closely akin to straight bankruptcy and to proceedings under Chapters XI and XII, for under such a plan the debtor is discharged from his debts and claims of the creditors are only partially paid.