Freemen, through indigence, sometimes sold themselves, and at Athens, up to the time of Solon, an insolvent debtor became the slave of his creditor.
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.
Kepler's claims upon the insolvent imperial exchequer amounted by this time to 12,000 florins.
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.
Taney; with Thomas Harris he reported the decisions of the court of appeals in Harris and Johnson's Reports (1820-1827); and in 1818 he was appointed chief commissioner of insolvent debtors.
Of the insolvent Banca Romana.
The encumbered estates act, though it substituted a solvent for an insolvent proprietary, placed the Irish tenants at the mercy of landlords of whom they had no previous knowledge, who were frequently absentees, who bought the land as a matter of business, and who dealt with it on business principles by raising the rent.
The insolvent debtor was withdrawn from the yoke of his creditor.
The consequence of this simple but effective reform was that Athens was never again disturbed by the agitation of insolvent debtors.
As a natural result weak railway companies in the United States have frequently been declared insolvent by the courts, owing to their inability in periods of commercial depression to meet their acknowledged obligations, and in the reorganization which has followed the shareholders have usually had to accept a loss, temporary or permanent.