Preamble
By authority of the United States, be it enacted by the Philippine Legislature, that: TITLE AND GENERAL SUBJECT OE THE ACT. SUSPENSION OF PAYMENTS. VOLUNTARY INSOLVENCY. INVOLUNTARY INSOLVENCY. ASSIGNEES. CLASSIFICATION AND PREFERENCE OF CREDITORS. PARTNERSHIPS AND CORPORATIONS. PROOF OF DEBTS. SEC: 53. All debts due and payable from the debtor at the time of the adjudication of insolvency, and all debts then existing but not payable until a future time, a discount being made if no interest is payable by the terms of the contract, may be proved against the opiate of the debtor. COMPOSITIONS. DISCHARGE. FRAUDULENT PREFERENCES AND TRANSFERS. PENAL PROVISIONS. MISCELLANEOUS.