Insolvency

Insolvency

The Legal History of Insolvency

This section provides an overview of Insolvency

Money Stolen, Bailed or Loaned, Insolvency, Gifts

From the book The Clergyman’s Hand-book of Law, about Money Stolen, Bailed or Loaned, Insolvency, Gifts (1): Property stolen by A. or left with him as bailee to be returned in specie, can not be given away by him for charity. Also, when a man is insolvent he has no right to give away any of his property.845 That has been the rule of law since Coke laid down the maxim: “A man must be just before he is generous.” One is insolvent when his debts exceed the value of his unexempt property.846 When an insolvent debtor makes a gift, a creditor may sue and recover from the donee; or in a proper case the creditor may force the debtor into bankruptcy to recover the gift.847 The want of knowledge or good faith of the donee is immaterial and no defense to an action to recover the property.848

Insolvency

Resources

Notes and References

  1. Charles M. Scanlan, The Clergyman’s Hand-book of Law. The Law of Church and Grave (1909), Benziger Brothers, New York, Cincinnati, Chicago

See Also

  • Religion
  • Church

Resources

See Also

  • Legal Biography
  • Legal Traditions
  • Historical Laws
  • History of Law

Further Reading


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