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Updated: May 11, 2025
On the other hand, a century later, it distinctly appears from Bracton, /1/ that the heir was only bound so far as property had descended to him, and in the early sources of the Continent, Norman as well as other, the same limitation appears. /2/ The liabilities of the heir were probably shrinking.
Every day brought the lady her report of the state of affairs in the City, written always in the same words: "No news of the ship." ON the day before the ship-owner's liabilities became due, the terms of the report from the City remained unchanged and the special license was put to its contemplated use. Mrs. Callender's lawyer and Mrs.
In this, however, he was completely mistaken. San Giacinto had not the smallest intention of offering anything more substantial than his opinion. Considering that his wife's brother's liabilities amounted to something like five and twenty millions, this was not surprising.
And it had for me it has still such elements of strangeness. Her greater age than his, her different world, traditions, association; her other opportunities, liabilities, standards." His friend listened with respect to his enumeration of these disparities; then she disposed of them at a stroke. "Those things are nothing when a woman's hit. It's very awful. She was hit."
In spite of the base ingratitude with which he had been treated, and the breach of faith which saddled him with enormous liabilities and debts, which weighed him down and embittered the rest of his life, Edward remained faithful to the cause of his father's ally, and did his best to maintain him in the position which English valour had won for him.
It was this that made him so eager to ascertain the full liabilities of the firm, so ready to sacrifice all he possessed so that no one save himself should be the loser. "If I accepted a handsome fortune from transactions over which I exercised no supervision, I must hold myself doubly responsible for the result," he argued, and at once set to work to turn all he possessed into money.
"It's simply a readjustment," Michael explained. "I take up Uncle Joseph's liabilities; and if he gets the tontine, it's to be mine; if my father gets it, it's mine anyway, you see. So that I'm rather advantageously placed." "Morris, my unconverted friend, you've got left," was John's comment. "And now, Mr.
He parted with his town house and furniture, delivered over his personal effects to be held in trust for his creditors, and bound himself to discharge a certain amount of his liabilities annually.
One or two of the supposedly respectable and polished citizens such as Talbot Green and "honest Harry Meiggs" fell by the wayside. The confidence of the new community began to be shaken. In 1854 came the crisis. Three hundred out of about a thousand business houses shut down. Seventy-seven filed petitions in insolvency with liabilities for many millions of dollars.
On April 18, 1894, the firm whose business enterprises had always figured in large sums through the immense popularity of the author-publisher's own works, the Memoirs of General Grant, and the Life of Pope Leo, made an assignment for the benefit of its creditors. The bankrupt firm acknowledged liabilities approximating $80,000.
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