debt is slavery blog
Overview
Bankruptcy can be defined as the legally declared inability of an individual or organization to pay its creditors, representing a third that provided in the individual or organization, product or service for which they are legally entitled to Complete Rules.
Through a process called involuntary bankruptcy, a creditor may be in bankruptcy proceedings a debtor to obtain the funds where they are due. However, in most cases, these procedures are not necessary. Under the auspices of a voluntary bankruptcy, the bankruptcy process initiated by the debtor, which means that it is filed by a person or organization bankrupt.
History
In the Old Testament of the Bible and Hebrew Scriptures, the laws of Moses, to establish a Holy or Jubilee Year that take place every 50 years. Therefore, on this day, all debts would be removed from all Jews and all debt slaves would be freed from their slavery, This is part of a divine mandate.
In fact, the Hebrew, or Jewish law of debt forgiveness can be found in the Bible in the book of Deuteronomy 15:1-2 which gives clear instructions given on the release of the debt of everyone who filled every seven years. In the Book of Nehemiah Chapter 5, there is a text on Debt forgiveness of Jews returning to Jerusalem.
In addition, bankruptcy does not not in ancient Greece, which refers to the period around 1100 BC and the Dorian invasion, to 146 BC and the Roman conquest of Greece after the battle of Corinth. At present, only adult males of local origin that could be classified as citizens. As a result, is that parents are entitled to legal ownership of property. Thus, each member of his family were forced to what is called debt bondage, if a father could not pay their outstanding debts. This would include his wife, children and servants. This situation would continue until the creditor has received payments under its physical work combined.
In many city-states in ancient Greece debt bondage has been limited to a period of five years and debt slaves given the protection of life and limb, which regular slaves did not have. Moreover, officials of the debtor not so fortunate. Indeed, it could maintained beyond the period of five years by the creditor and are forced to serve his new master, perhaps a lifetime, often in conditions far more severe.
The duration of the bankruptcy stems from the Latin word bancu referred to a long bench, or possibly a broken table and that means ruptus. The term bank originally referred to a bank.
Bankers First the bank placed in public places, markets, fairs and similar events, and which was conducted their financial affairs. He also wrote their bills of exchange, which was a written order by the drawer, to withdraw the funds, the draft, the banker to pay compensation beneficiaries, which needs funds.
Therefore, when the business of a banker, broke his bank, ie your bank. In this way, the public would be aware that the person to whom the bank belonged was no longer able to continue its banking activities.
Peter Radford writes articles on sites with a variety of topics under the title: – How to achieve success. The articles cover bankruptcy history, the role of Europe-United States, the types of prevention. Website has many more.
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