423. Goodwill of bankrupt's business.

If the bankrupt has carried on a business, the goodwill of the business passes on adjudication to his trustee, except:


    (1)     where the business premises have been mortgaged and the goodwill is attached to the premises, in which case the goodwill is comprised in the security1; and


    (2)     where the goodwill is personal to the bankrupt, as in the case of a professional person, in which case, it seems, it would not pass2.

Compensation which is given by statute to a bankrupt for the destruction of his business is analogous to goodwill and passes to the trustee3.

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