On the record
All State insolvent laws, so-called, that distribute a debtor's property equally among his creditors, are laws impairing the natural obligation of his contracts.
Said by
Lysander Spooner
Source
gutenberg.orgLysander Spooner: “All State insolvent laws, so-called, that distribute a debtor's property equally among his creditors, are laws impairing…”
Editor's note · Context
This statement critiques state laws that distribute a debtor's property among creditors, arguing they violate contract obligations.
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