Remarks Upon the Necessity And Effect of General Bankrupt Law Including Corpor
Remarks Upon the Necessity And Effect of General Bankrupt Law Including Corpor
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Although a bankrupt law should not perhaps be made merely for the temporary purpose of relieving parties who have suffered by the late financial pressure, yet no law on the subject would be complete without a voluntary clause, which should, under proper restrictions, give every person the power to put himself into bankruptcy, and receive his discharge, if he complies with the law.
It has been urged, that no party should have the power to avail 12 himself of a bankrupt or insolvent law by his ow...n mere motion, be- cause it tends to fraudulent bankruptcies. Now it is always true, and has so been found by experience in England, that when the law is entirely involuntary, the debtor, who wishes to become bankrupt, can readily, even though it be necessary to resort to fraud, procure some creditor to compel his bankruptcy, and then he is in the same position that he would be were the law voluntary.
The present state of things in the United States furnishes a practi- cal argument, not only for an involuntary, but for a voluntary bank- rupt act.
What to read after Remarks Upon the Necessity And Effect of General Bankrupt Law Including Corpor?
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To quickly assess the difficulty of the text, read a short excerpt:
Although a bankrupt law should not perhaps be made merely for the temporary purpose of relieving parties who have suffered by the late financial pressure, yet no law on the subject would be complete without a voluntary clause, which should, under proper restrictions, give every person the power to put himself into bankruptcy, and receive his discharge, if he complies with the law.
It has been urged, that no party should have the power to avail 12 himself of a bankrupt or insolvent law by his ow...n mere motion, be- cause it tends to fraudulent bankruptcies. Now it is always true, and has so been found by experience in England, that when the law is entirely involuntary, the debtor, who wishes to become bankrupt, can readily, even though it be necessary to resort to fraud, procure some creditor to compel his bankruptcy, and then he is in the same position that he would be were the law voluntary.
The present state of things in the United States furnishes a practi- cal argument, not only for an involuntary, but for a voluntary bank- rupt act.
What to read after Remarks Upon the Necessity And Effect of General Bankrupt Law Including Corpor?
You can find similar books in the "Read Also" column, or choose other free books by Inc Rice Hutchins to read onlineMoreLess
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