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The Debtors Act 1869 significantly reduced the ability of the courts to detain those in debt, although some provisions were retained. Debtors who had the means to repay their creditors but refused to do so could still be imprisoned, [3] as could those who defaulted on payments to the court. [9] Further reform followed through the Bankruptcy Act ...
The Debtors' Act 1869 (32 & 33 Vict. c. 62) limited the ability of the courts to sentence debtors to prison, but it did not entirely prohibit them from doing so. Debtors who had the means to pay their debt, but did not do so, could still be incarcerated for up to six weeks, as could those who defaulted on debts to the court. [18]
Under the Insolvent Debtors (England) Act 1813 (53 Geo. 3. c. 102), debtors could request release after 14 days in jail by taking an oath that their assets did not exceed £20, but if any of their creditors objected, they had to stay inside. Attitudes were changing, however, and the Bankruptcy Act 1825 (6 Geo. 4. c.
A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower.
The Bankruptcy Act 1869 (32 & 33 Vict. c. 71) was an act of the Parliament of the United Kingdom. Section 32 established the first statutory regime for preferential debts in bankruptcy, between local rates, taxes, wages and salaries of clerks, servants, labourers and workers.
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It has been suggested that the speaker or writer should either say technical insolvency or actual insolvency in order to always be clear – where technical insolvency is a synonym for balance sheet insolvency, which means that its liabilities are greater than its assets, and actual insolvency is a synonym for the first definition of insolvency ...
The National Debt Commissioners Act 1818 (58 Geo. 3. c. 66) The National Debt Reduction Act 1823 (4 Geo. 4. c 19) The National Debt Reduction Act 1866 (29 & 30 Vict. c. 11) The National Debt Act 1958 (7 & 8 Eliz. 2. c. 6) The National Debt Act 1972 (c. 65) The National Debt Acts 1870 to 1893 is the collective title of the following acts: [1]