debt jubilee
The bankruptcy and the ancient world …
Interruption of the ancient world ….
One of the first recorded cases of insolvent debtors obtain a discharge can be found in the Old Testament. Moses referred a Holy Year of Jubilee or occur once every fifty years. During this Holy Year, all debts would be destroyed and the Israelites from slavery would be freed. See Leviticus 25:10-13, which states that "enshrines the freedom of the fiftieth year and proclaim the country for all its population. It should be a jubilee for you: every one of you is to return to his family property and each to his own clan. "
But fifty years is a long time, particularly in fast-paced world of the Old Testament. Deuteronomy 15:1 then increases the frequency of debt relief, stating that "A the end of each period of seven years, have a relaxation of debts, which must be observed as follows … "
Although the Greeks could not forgive flexible gender roles, being insolvent, it was determined no-no. If a person against the debt that could not pay, then he and all his family became slaves to debt. There are different degrees of protection to slaves or declaring a backup of their individual personal injury, or the slaves only for a maximum of five years. But if you were the slave of a debtor who had enslaved himself, could expect a life-long treatment for a severe and merciless work.
In the East, according to Al-Maqrizi, a comprehensive set of laws established by Genghis Khan, unfortunately no copy of what exists, a man who had failed three times awarded the death penalty.
Or when the etymology of the word comes!
Bankruptcy word itself comes from a mixture of Latin words "bancu" the sense of a bench or table and "ruptus" which means broken. When a banker, who held their market operations in a bank, could not keep paying people and fulfill its obligations, the university has been broken in a symbolic gesture of this failure and inability to negotiate. Presumably, therefore, through thousands of uses oral and written sentence in bankruptcy is filed.
The French have their own theory, of course. According to the French, the term bankruptcy "comes Case of Banco de route '. "This term does not refer to something so hard that a broken chair, but much more civilized practice of leaving a mark with a banker expects the market to symbolize or declare insolvency. The presence of these signs usually means that someone must be located or locating in a hurry to d not abscond with money.
It is still unclear what the French intend to win this conspiracy theory of substitutes, or why is not only a bastard form of the story of leaving the United States, but persist.
About the Author:
Robert S. Vitt
Vitt Law Firm
www.vittlawfirm.com
Article Source: ArticlesBase.com – Bankruptcy and the ancient world.
