Of the insolvent Banca Romana.
There is a good deal of mystery about the end of Defoe's life; it used to be said that he died insolvent, and that he had been in jail shortly before his death.
Freemen, through indigence, sometimes sold themselves, and at Athens, up to the time of Solon, an insolvent debtor became the slave of his creditor.
Kepler's claims upon the insolvent imperial exchequer amounted by this time to 12,000 florins.
His enterprises were unsuccessful; in 1761 he became insolvent, and the Society refused to be responsible for his debts.
Though harmful to the economic condition of the island, it left agriculture comparatively unaffected, because the insolvent institutions had never fulfilled the objects of their foundation.
A creditor could hold his insolvent debtor as a slave, or sell him out of the city (trans Tiberim).
The insolvent debtor was withdrawn from the yoke of his creditor.
An insolvent debtor's homestead - consisting of not more than 40 acres of land with a house thereon, or a house and lot in a city or village not exceeding $1500 in value, together with not less than $500 of his personal property - is exempt from execution.
When satisfied that a bank has become insolvent, the commissioner may take possession of it and wind up its affairs.
Emergency assessments, not to exceed 2%, may be made whenever necessary to pay in full the depositors in an insolvent bank; if the guaranty fund is impaired to such a degree that it is not made up by the 2% emergency assessment, the state banking board issues certificates of indebtedness which draw 6% interest and which are paid out of the assessment.
If the test of the settlement were not frequently applied, speculators who were unfortunate would be tempted to plunge deeper until finally some became insolvent for large sums. As it is, the speculator who has incurred losses beyond his means tends to be discovered before his creditors are heavily involved.
The sources of slavery were there, as elsewhere, capture in war, voluntary sale by poor freemen of themselves, sale of insolvent debtors, and the action of the law in certain criminal cases.
With Therasia (now a sister, not a wife), while leading a life of rigid asceticism, he devoted the whole of his vast wealth to the entertainment of needy pilgrims, to payment of the debts of the insolvent, and to public works of utility or ornament; besides building basilicas at Fondi and Nola, he provided the latter place with a muchneeded aqueduct.
The consequence of this simple but effective reform was that Athens was never again disturbed by the agitation of insolvent debtors.
In 1688 the rich uncle, whose supposed riches had dwindled so much that at his death he was almost insolvent, died, having decayed, it would seem, not less in mind than in body and estate, and Swift sought counsel of his mother at Leicester.