Where the debt does not exceed £ioo the simplest procedure for its recovery is that of the county court, but if the debt exceeds £ioo the creditor must proceed in the high court, unless the cause of action has arisen within the jurisdiction of certain inferior courts, such as the mayor's court of London, the Liverpool court of passage, &c. When judgment has been obtained it may be enforced either by process (under certain conditions) against the person of the debtor, by an execution against the debtor's property, or, with the assistance of the court, by attaching any debt owed to the debtor by a third person.
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.
If a debtor had neither money nor crop, the creditor must not refuse goods.
Personal guarantees were often given that the debtor would repay or the guarantor become liable himself.
Freemen, through indigence, sometimes sold themselves, and at Athens, up to the time of Solon, an insolvent debtor became the slave of his creditor.
A creditor could hold his insolvent debtor as a slave, or sell him out of the city (trans Tiberim).
The Poetelian law (326 B.C.) restricted the creditor's lien (by virtue of a nexum) to the goods of his debtor, and enacted that for the future no debtor should be put in chains; but we hear of debtors addicti to their creditors by the tribunals long after - even in the time of the Punic Wars.
The insolvent debtor was withdrawn from the yoke of his creditor.
In principle it was even held to be the debtor for the amount; hence the inhabitants were jointly responsible, a state of affairs which was not suppressed till the time of Turgot, and even then not completely.
He settled in Philadelphia as a lawyer, and in February 1780 he published in Philadelphia a series of essays on finance, in which he criticized the issue of legal-tenders, denounced laws passed for the benefit of the debtor class, and urged the people to tax themselves for the common good.
The means of carrying on the war were obtained by the State becoming the debtor of the Austro-Hungarian Bank, in so far as credit was concerned.
In 495 he was consul, and his cruel enforcement of the laws of debtor and creditor, in opposition to his milder colleague, P. Servilius Priscus, was one of the chief causes of the "secession" of the plebs to the Sacred Mount.
After nearly all the forty-six banks chartered by the legislature in 1818 had been wrecked in the financial panic of 1819, the legislature in 1820 passed a series of laws designed for the benefit of the debtor class, among them one making state bank notes a legal tender for all debts.
Pennsylvania has no homestead law, but the property of a debtor amounting to $300 in value, exclusive of the wearing apparel of himself and family and of all Bibles and school-books in use, is exempt from levy and sale on execution or by distress for rent; and the exemption extends to the widow and children unless there is a lien on the property for purchase money.
The debtor was obliged to pay the amount of the debt to any person who presented the missing half of the bill.
The obligation, however, remains, though imperfect, for if there be a subsequent acknowledgment by the debtor, the debt revives, and the imperfect obligation becomes again perfect.
3522 of the Louisiana civil code obligor or debtor means the person who has engaged to perform some obligation, obligee or creditor the person in favour of whom some obligation is contracted, whether such obligation be to pay money or to do or not to do something.
A " trade balance-sheet " for 1906 drawn up for the Cape Town chamber of commerce by its president showed, however, a debtor account of £18,751,000 compared with a credit account of £17,931,000, figures representing with fair accuracy the then economic condition of the country.
The debtor claims the exemption where the levy is made, but if the sheriff deems the homestead greater in value than the law allows, he may choose three disinterested persons to appraise it and sell any portion that may be adjudged in excess of the legal limit.
For this amount the guilty person, and in his default his kindred, became legally debtor, and the injured person or family became entitled to recover the amount like a civil debt by distraint, if not paid voluntarily.
A person having a liquidated claim might either sue a debtor or proceed at his peril to seize without this preliminary.
The following technical terms will indicate the procedure in distress with time: Aurfocre (= demand of payment, stating the amount in presence of witnesses); apad (= delay); athgabail (= the actual seizure); anad (= delay after seizure, the thing remaining in the debtor's possession); toxal (= the taking away of the thing seized); fast (= notice to the debtor of the amount due, the or pound in which the thing seized is impounded, and the name of the law agent); dithim (= delay during which the thing is in pound); lobad (= destruction or forfeiture of the debtor's ownership and substitution of the creditor's ownership).
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 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.
When a large debt was clearly due, and there was no property to seize, the debtor himself could be seized and compelled to work as a prisoner or slave until the debt was paid.
It was formerly the custom in our village, when a poor debtor came out of jail, for his acquaintances to salute him, looking through their fingers, which were crossed to represent the grating of a jail window, "How do ye do?"