The debtor could also pledge his property, and in contracts often pledged a field, house or crop. The Code enacted, however, that the debtor should always take the crop himself and pay the creditor from it.
Distraint on a debtor's corn was forbidden by the Code; not only must the creditor give it back, but his illegal action forfeited his claim altogether.
The debtor and creditor account of the state from 1864 to 1875 showed receipts amounting to 148,215,000.
The creditor has the right of claiming the aid of the law against the defaulting municipality; and the amounts, the terms, and the time of duration of local debt are supervised in order to prevent injustice to particular persons or improvidence with regard to the revenue and property of the local units.
The creditor could only hold a wife or child three years as mancipium.
Creditor and debtor have also lost their Roman law signification; they have been narrowed to mean the parties where the obligation is the payment of a sum of money.
After an interval of ten days more, the creditor entered with his law agent, two witnesses and four horses, went farther in upon the land, repeated his demand, and if refused withdrew.
This measure alone would, however, have been of little service had he not at the same time enacted that henceforth no loans could be made on the bodily security of the debtor, and the creditor was confined to a share of the property.
A creditor was not at liberty to seize household goods, farming utensils, or any goods the loss of which would prevent the debtor recovering from embarrassment, so long as there was other property which could be seized.
Where a debtor has committed any act of bankruptcy a creditor or creditors whose aggregate claims are not less than £50 may proceed against him in bankruptcy.
American law is in general agreement with English, except in the case of Louisiana, where the terms obligor and obligee are used in as wide a sense as the debitor and creditor of Roman law.
The property in the thing seized, to the amount of the debt and expenses, became legally transferred from the debtor to the creditor, not all at once but in stages fixed by law.
A creditor could hold his insolvent debtor as a slave, or sell him out of the city (trans Tiberim).
Obligatio was used to denote either end of the legal chain that bound the parties, the right of the party who could compel fulfilment of the obligatio, the creditor, or the duty of the party who could be compelled to fulfilment, the debitor.
Or, when one person is compelled by law to discharge the legal liabilities of another, he becomes the creditor of the person for the money so paid.
He was now enabled to carry a philanthropic measure, of which from his first entry into the House of Lords he had been a great promoter, namely, the Debtor and Creditor Bill for relief of poor debtors.