In re Baumann

The question is made on an exception to the evidence, and by asking an instruction to the jury, whether property exempt under the state statute from execution at law is to be reckoned in balancing the property and debts upon the issue of solvency or insolvency, as made by a contested petition in bankruptcy. It is entirely true, as stated by Mr. Justice Bradley in Re Bass, 3 Woods, 382, Fed. Cas. No. 1,091, “that exempted property constitutes no part of the assets in bankruptcy, and that the assignee acquires no title to exempted property.” Nevertheless it does not follow that it is not to be…