Any person who has a right to claim immediate payment of a sum of money due to him and is capable of giving a valid release to the debtor, or who will at a certain time in the future have such a right and be in a position to give a valid release, may in general present a bankruptcy petition against the debtor, subject to the statutory conditions being fulfilled1. It is possible, therefore, for a creditor to petition in bankruptcy, even though he has no immediate right of payment2.
In the case of debts due to the Crown or
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