What is Act Of Bankruptcy?

Legal Definition
An act which subjects a person to be proceeded against as a bankrupt. The acts of bankruptcy enumerated in the late act of congress, of 19th Aug. 1841, s. 1, are the following: 1. Departure from the state, district, or territory of which a person, subject to the operation of the bankrupt laws, is an inhabitant, with intent to defraud his creditors. See, as to what will be considered a departure, 1 Campb. R. 279; Dea. & Chit. 4511 Rose, R. 387 9 Moore, R. 217 2 V. & B. 177; 5 T. R. 512; 1 C. & P. 77; 2 Bini,. R. 99; 2 Taunt. 176; Holt, R. 175.

2. Concealment to avoid being arrested. 1 M. & S. 676 ; 2 Rose, R. 137; 15 Ves. 4476 Taunt. R. 540; 14 Ves. 86 Taunt. 176;1 Rose, R. 362; 5 T. R. 512; 1 Esp. 334.

3. Willingly or fraudulently procuring himself to be arrested, or his goods and chattels, lands, or tenements to be attached, distrained, sequestered, or taken in execution.

4. Removal of his goods, chattels and effects, or concealment of them to prevent their being levied upon, or taken in execution, or by other process.

5. Making any fraudulent conveyance, assignment, sale, gift, or other transfer of his lands, tenements, goods, or chattels, credits, or evidences of debt. 15 Wend. R. 588; 5 Cowen, R. 67; 1 Burr. 467, 471, 481; 4 C. & P. 315; 18 Wend. R. 375; 19 Wend. R. 414; 1 Dougl. 295; 7 East, 137 16 Ves. 149; 17 – Ves. 193; 1 Smith R. 33; Rose, R. 213.
-- Bouviers Law Dictionary
Legal Definition
Any act which renders a person liable to be proceeded against as a bankrupt, or for which he may be adjudged bankrupt. These acts are usually defined and classified in statutes on the subject. Duncan v. Landis, 196 Fed. 839, 45 O. C. A. 666; In re Chapman (D. Ct) 99 Fed. 395.
-- Black's Law Dictionary
Legal Definition
An act by the doing of which a debtor may be declared a bankrupt.
-- Ballentine's Law Dictionary