Composition In Bankruptcy
Defined in 4 dictionaries — Cyclopedic (1922), Ballentine's (1916), Black's (1910), Black's (1891)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
An agreement by the creditors of a bankrupt to receive a certain percentum of their claims in full satisfaction. The national bankrupt act provides for such compositions, requiring a formal offer of composition by the bankrupt, a creditors' meeting to consider the same, and, if accepted by a majority both in number and amount of claims, an application for confirmation by the court. Loveland, Bankr. S§ 241-253. -
Ballentine's Law Dictionary
James A. Ballentine · 1916
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
An arrangement between a bankrupt and his creditors, whereby the amount he can be expected to pay is liquidated, and he is allowed to retain his assets, upon condition of his making the payments agreed upon.
Defined under Compositio Mensurarum in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
An arrangement between a bankrupt and his ereditors, whereby the amount he can be expected to pay is liquidated, and he is allowed to retain his assets, upon condition of his making the payments agreed upon.