BANKRUPTCY ACT.
"HEADS I WIN, TAILS THE OTHER MAN LOSES." [By Telccrajh.-Prcsj Association.! Auckland, December 12. William lieid Bate was charged at the Police Court to-day under the Bankruptcy .-\ct with incurring debts and liabilities which he had no reasonable expectation of paying. Aflrtr hearing evidence the magistrate said he must record a conviction as a warning to others. The Legislature had thought fit to prohibit traders playing the game of "Heads 1 win, tails the other man loses," and had said that a person should be liable to punishment lor acting on that principle, even if he did it in the hope" that ho would win. and that cousenucnlly the oilier man would not lose. This system of trading must be stopped. The maximum penalty was two years' imprisonment, and ho could not imnose less in the. present caso than a month's hard labour. "
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Dominion, Volume 5, Issue 1310, 13 December 1911, Page 6
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145BANKRUPTCY ACT. Dominion, Volume 5, Issue 1310, 13 December 1911, Page 6
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