If a debtor had neither money nor crop, the creditor must not refuse goods.
The insolvent debtor was withdrawn from the yoke of his creditor.
The debtor was obliged to pay the amount of the debt to any person who presented the missing half of the bill.
A creditor could hold his insolvent debtor as a slave, or sell him out of the city (trans Tiberim).
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.
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.
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.
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.
If the debtor broke his oath, he became liable to the discipline of the Church.
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.
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.
It is the duty of a debtor to pay a debt without waiting for any demand, and, unless there is a place fixed on either by custom or agreement, he must seek out his creditor for the purpose of paying him unless he is "beyond the seas."
A creditor is not bound to give change to the debtor, whose duty it is to make tender in lawful money the whole amount due, or more, without asking for change.
If the debtor did not cultivate the field himself he had to pay for the cultivation, but if the cultivation was already finished he must harvest it himself and pay his debt from the crop. If the cultivator did not get a crop this would not cancel his contract.
A person having a liquidated claim might either sue a debtor or proceed at his peril to seize without this preliminary.
Payment by a third person to the creditor is no discharge of a debt, as a general rule, unless the debtor subsequently ratifies the payment.
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.
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.
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?"
Debt was secured on the person of the debtor.
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.
When a debtor tenders the amount due to his creditor and the creditor refuses to accept, the debt is not discharged, but if the debtor is subsequently sued for the debt and continues willing and ready to pay, and pays the amount tendered into court, he can recover his costs in the action.
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.
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.
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.
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.
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.
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).
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.
In the United States imprisonment for debt was universal under the common law, but it has been abolished in every state, except in certain cases, as where there is any suspicion of fraud or where the debtor has an intention of removing out of the state to avoid his debts.
In commercial matters, payment in kind was still common, though the contracts usually stipulate for cash, naming the standard expected, that of Babylon, Larsa, Assyria, Carchemish, &c. The Code enacted, however, that a debtor must be allowed to pay in produce according to statutory scale.
The whole property of the debtor might be pledged as security for the payment of the debt, without any of it coming into the enjoyment of the creditor.
A homestead which is owned and occupied by a debtor as his dwelling place is exempt from seizure or sale for debts other than taxes, those secured by a mortgage on it, or those incurred for its improvement or repair, or for services performed by labourers or servants.
For a time he was confined as a debtor in the king's bench prison.
The struggle which the frontier settlers of Pennsylvania had made in the state legislature to secure unlimited issues of paper money and the enactment of laws favourable to the debtor class prejudiced him against the West, and he tried to introduce into the constitution a clause guaranteeing forever the political supremacy of the states east of the Alleghanies.
The subsequent process, the warrant directing a messenger-at-arms to charge the debtor to pay or perform in terms of the letters, was called "letters of horning."
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.
The debtor being seized for debt could nominate as mancipium or hostage to work off the debt, his wife, a child, or slave.
A curious extension of the talio is the death of creditor's son for his father's having caused the death of debtor's son as mancipium; of builder's son for his father's causing the death of house-owner's son by building the house badly; the death of a man's daughter because her father caused the death of another man's daughter.
An isolated use of the word " catholic " as a secular legal term survives in Scots law; a catholic creditor is one whose debt is secured over several or over all of the subjects belonging to the debtor.
The debtor and creditor account of the state from 1864 to 1875 showed receipts amounting to 148,215,000.
The creditor may demand the arazi-memuru to proceed to a forced sale, but the arazi-memuru is not obliged to comply with that demand; no forced sale may take place after the decease of the debtor.
The War of Independence left the state heavily burdened with debt and many of its citizens threatened with a debtor's prison.
Originally in Scotland imprisonment for debt was enforceable only in certain cases, but a custom gradually grew up of taking the debtor's oath to pay.
An act of 1851 forbade servants from leaving masters to whom they were indebted, and in 1853 sheriffs were authorized in some instances to dispose of the debtor's labour to the highest bidder.
In the first place, it is true that according to ancient practice he proclaimed a general seisachtheia, or shaking off of burdens: he cancelled all the debts made on the security of the land or the person of the debtor.
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.
Finally, after a further interval of ten days, he entered once more with his law agent, three witnesses and eight horses, drove up to the debtor's house, repeated his demand, and if not satisfied drove a herd of cattle or a flock of sheep in upon the farm and left men to care for them.
It is certainly not altogether mere impertinence to ask of a public man how he gets what he lives upon, for independence of spirit, which is so hard to the man who lays his head on the debtor's pillow, is the prime virtue in such men.
We need to do diligence of moveable articles owned by the debtor.
An inquiry into the debtor's affairs is made by the Official Receiver and the debtor's assets are realized and distributed among creditors.
chargeable against the debtor may be recovered otherwise than from the proceeds of auction.
A debtor who is not insolvent may also execute a deed in favor of his/her creditors generally.
A copy of this report and accounts should be sent to the debtor and all the debtor's creditors of whom he/she is aware.
The rights of secured creditors of the debtor, and of preferential creditors of the debtor, and of preferential creditors, cannot be affected without the agreement of the creditors concerned.
He discussed the powers of the creditor to arrest and imprison a debtor.
A debt of over £ 750 must be undisputed and the creditor must have notified the debtor of its intent to collect the debt.
There are three types: Probate: granted to executors named in a will made by the deceased debtor prior to death.
Caution involves a secondary obligation on the cautioner that is coextensive with the primary obligation of the principal debtor.
debtor nation in the world.
A charging order constitutes a lien on the judgment debtor 's limited liability company interest.
A debtor's petition may be presented to the Court only on the grounds that the debtor's petition may be presented to the Court only on the grounds that the debtor is unable to pay his debts.
debtor's earnings, to pay creditors.
If the debtor attends the hearing, the judge will make a new order for payment based on the debtor's circumstances.
deceased debtor prior to death.
executors named in a will made by the deceased debtor prior to death.
imprison a debtor.
insolvent debtor, is transferred for adjustment for the benefit of Auditors.
insolvent estate of a deceased debtor.
Payment of a Debtor Account The Council offers a number of options for the payment of a sundry invoice.
Three years later, the debtor is still ducking and diving, still has not satisfied the judgment.
judgment debtor 's limited liability company interest.
pendency of a bankruptcy proceeding, the debtor is protected from extra-bankruptcy action by creditors by a legally imposed stay.
restricts where insolvency proceedings can be opened to the country where the debtor has his " center of main interests " .
sundry debtor income.
In Deuteronomy this law is not repeated, but a fixed seven years' period is ordained for the benefit of poor debtors, apparently in the sense that in the seventh year no interest is to be exacted by the creditor from a Hebrew, or that no proceedings are to be taken against the debtor in that year (Deut.
Until 1869 specialty debts had preference under English law over simple contract debts in the event of the bankruptcy or death of the debtor, but this was abolished by the Administration of Estates Act of that year.
At English common law debts and other choses in action were not assignable (see CHOSE), but by the Judicature Act 1873 any absolute assignment of any debt or other legal chose in action, of which express notice in writing is given to the debtor, trustee or other person from whom the assignor would have been entitled to receive or claim such debt, is effectual in law.
(See PAYMENT.) A debtor takes the risk if he makes payment through the post, unless the creditor has requested or authorized that mode of VII.
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 the debtor is a company or corporation registered under the companies acts, the creditor may petition to have it wound up. (See COMPANY.) Imprisonment for debt, the evils of which have been so graphically described by Dickens, was abolished in England by the Debtors Act 1869, except in cases of default of payment of penalties, default by trustees or solicitors and certain other cases.
The second was called for by the preference which the common law gave to a distant collateral over the brother of the half-blood of the first purchaser; the fourth conferred an indefeasible title on adverse possession for twenty years (a term shortened by Lord Cairns in 1875 to twelve years); the fifth reduced the number of witnesses required by law to attest wills, and removed the vexatious distinction which existed in this respect between freeholds and copyholds; the last freed an innocent debtor from imprisonment only before final judgment (or on what was termed mesne process), but the principle stated by Campbell that only fraudulent debtors should be imprisoned was ultimately given effect to for England and Wales in 1869.1 In one of his most cherished objects, however, that of Land Registration, which formed the theme of his maiden speech in parliament, Campbell was doomed to disappointment.
The Regulation restricts where insolvency proceedings can be opened to the country where the debtor has his " center of main interests ".
The revenue section is responsible for the administration of council tax, business rates, housing rents and sundry debtor income.
In many cases, this type of settlement process allows the debtor to get out of debt sooner than if he or she were to pay the minimum balance on the debt over time.
The Fair Debt Collection Practices Act safeguards a debtor's right to be treated fairly during the collection process.
In what ways can a collection agency locate and talk to a debtor?
Actions that affect privacy - The Act provides privacy for the debtor.
These letters most often come directly from the creditor, or a collection agency working on behalf of the creditor, but may also originate from the debtor.
To receive some of the money owed, the creditor then issues a debt settlement letter to the debtor, trying to reclaim some of the money owed.
As a debtor, or someone who owes a debt, initiating a debt settlement letter may be possible.
They will work with the debtor (the person who owes the debt) and the creditor (the company the debt is owed to) in order to find a working relationship that is beneficial for everyone involved.
In the 1800s and prior, if you stopped making payments on your debt you could be thrown into debtor's prison.
Creditors can pursue each individual partner's business and personal assets to collect on the debt should the debtor fail to repay the debt as agreed.
There is no homestead exemption law and exemptions from levy for the satisfaction of debts extend only to $loo worth of property, besides wearing apparel and books and tools used by the debtor in his profession or trade, and to all money payable in the nature of insurance.
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.
The balance of trade is always against India, because she is a debtor country, and has to pay interest on borrowed capital, and the " home charges " for the upkeep of the civil and military services and of the secretary of state's establishment in London.
The exemption may be claimed by either the husband or the wife, but may not be granted if each owns a home stead; and it does not extend to judgments rendered against the debtor on account of a mortgage, non-payment of the purchase money or supplies and labour for building and repairs.
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.
"The judges," says Ross, "could not award interest for the money; that would have been contrary to law, a moral evil, and an oppression of the debtor; but, upon the idea of damages and the failure of the debtor in performance, they unmercifully decreed for double the sum borrowed."
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.
The homestead exempt from sale under seizure is limited to the house and lot, not exceeding $1000 in value, of a debtor having a family.
Great opposition was raised by the representatives of the debtor class in congress to the suppression of the inconvertible paper money, but in the end President Montt carried the day, and on the 11th of February 1895 a measure finally became law establishing a gold currency as the only legal tender in Chile.
The word usage examples above have been gathered from various sources to reflect current and historial usage. They do not represent the opinions of YourDictionary.com.