to himself or
personal representatives he may pay or secure this sum to the trustee
and continue to hold the policy. And a policy of insurance payable to
the wife, children, or other kin of the bankrupt is no part of the
estate and does not pass to the trustee.

After one month, and within a year from the adjudication of
bankruptcy, the bankrupt may apply for a discharge. The petition must
state concisely the orders of the court and the proceedings in his
case. Creditors must have at least ten days' notice by mail of the
petition, and then the judge hears the application for discharge, and
considers the proofs in opposition by the parties in interest. Unless
some creditor objects and specifies his ground of objection, the
petition will be granted. The Bankruptcy Act states several reasons
for refusing a discharge, especially when the bankrupt has concealed
his property instead of making an honest, truthful statement
respecting it, or has not kept proper books of account with the
fraudulent intent to conceal his true financial condition and defraud
his creditors.

Lastly a person may be punished by imprisonment for two years or less
on conviction of having knowingly and fraudulently concealed, while a
bankrupt or after his discharge, any property belonging to his estate
as a bankrupt, or made a false oath in any bankruptcy proceeding, or
made any false claim against his estate or used such a claim in making
a composition with his creditors.

=Beneficial Associations.=--Beneficial associations possess a varied
aspect, they are both social and business organizations. Often the
members are bound together by secret obligations and pledges.
Trades-unions have a double nature, they are created for both
beneficial and business purposes. Originally their beneficial
character was the more important feature. Benefit societies may be
purely voluntary associations or incorporated either by statute or
charter.

The articles of association formed by the members are essentially an
agreement among them by which they become bound to do specified things
and incur liabilities. They thus establish a law for themselves
somewhat like a charter of a corporation. They may adopt such rules as
they like provided they are not contrary to the laws of the land. As
the members, having made the rules, are presumed to know them, they
are therefore bound by them.

The legal status of such associations, their right to sue and be sued,
the liab