ART. 1ER
Les créanciers de M. A. lui font remise,
par ces présentes, de tous intérêts sur leurs créances actuellement dus et échus, et de ceux à échoir ;
Before, ete...….…., Came and appeared :
Mr. A... trader, etc... of the first part ;
And Messrs. B......,C.......,and D......…., traders, ete... all three creditors of Mr.
A... and acting collectively, of the second part ;
Which said parties have declared convenanted and agreed as follows, to wit ;
Mr. A... has informed his creditors that he is accually under the impossibility of meeting all his engagements ;
That, however, his assets are in excess of his liabilities but that, if he were exposed to judicial suits and proceedings for his debts now due or on the point of becoming due, he would lose all eredit and means of fully meeting his said liabilities ;
That he has therefore solicited from his above named creditors : 10 An acquittal of all interests accrued or to accrue on their said claims ; 20 A delay of four years from and after the... for the payment of the principal of the said claims, in eight equal consecutive and semi-annual instalments, counting from the same date ; the whole on condition that Mr. E....…., will become security for the said claim.
That, in support of his declaration, Mr.
A... has submitted to his said creditors two statements prepared by himself, the one representing his actual position, and the other giving the result and total amount of his different losses since the last four years ; which statements have remained hereto annexed after having been certified by Mr. A... in the presence of the undersigned notary.
That the above named creditors, after having taken communication of the said hereto annexed statements andacknowledging their correctness, have accepted Mr. A......?s propositions and, in consequence, the said parties have agreed to the following conventions :