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RECEIVER

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Originally appearing in Volume V22, Page 952 of the 1911 Encyclopedia Britannica.
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RECEIVER , in See also:

English See also:law, an officer or manager appointed by a See also:court to administer See also:property for its See also:protection, to receive See also:rent or other income and to pay authorized outgoings. Receivers may be either appointed pendente lite or by way of equitable See also:execution, e.g. for the purpose of enabling a See also:judgment creditor to obtain See also:payment of his See also:debt, when the position of the real See also:estate is such that See also:ordinary execution will not reach it. Formerly receivers were appointed only by the court of See also:chancery, but by the Judicature See also:Act 1873 it is now within the See also:power of all divisions of the High Court to appoint receivers. Their See also:powers and duties are exhaustively set by Kerr, On Receivers (5th ed., 1905), who classifies the cases in which they may be appointed under the following heads: (a) infants; (b) executors and trustees; (c) pending litigation as to See also:probate; (d) mortgagor and mortgagee; (e) debtor and creditor; (f) public companies; (g) vendor and purchaser; (h) covenanter and covenantee; (i) See also:tenant for See also:life and remainderman; (j) partners; (k) lunacy; (l) tenants in See also:common; (m) See also:possession under legal See also:title, and (n) other cases. The See also:appointment of receivers is entirely within the discretion of the courts, and the power may be exercised " in all cases in which it shall appear just and convenient." Application for a receiver is usually made by See also:motion, and the court will appoint the fittest See also:person, without regard to who may propose him, the appointment of a receiver being for the benefit of all parties. Under the See also:Conveyancing Act 1881, when a mortgagee has become entitled to exercise his powers of See also:sale, he may, by See also:writing under his See also:hand, appoint such person as he think See also:fit to be receiver. In See also:bankruptcy practice a receiver, termed See also:official receiver, is an officer of the court who in this capacity takes possession on the making of a receiving See also:order, of all a debtor's See also:assets. He is also an officer of the See also:Board of See also:Trade with the See also:duty of taking cognisance of the conduct of the debtor and administering his estates (see See also:BANK- RUPTCY). Receiver-See also:general is the title given to a See also:chief receiver, more especially as applied to the collection of public See also:revenue. The title survived in the Inland Revenue up to 1891, but it is now only used as the designation of an officer of the duchy court of See also:Lancaster, who receives the revenues, &c., of the duchy.

End of Article: RECEIVER

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