Political Quotes

Lysander Spooner: “When the mortgaged property is exhausted, the debt is cancelled; there is no other property that the contract binds.”

On the record
When the mortgaged property is exhausted, the debt is cancelled; there is no other property that the contract binds.
Said by
Lysander Spooner

Editor's note · Context

This statement asserts that once the mortgaged property is exhausted, the debt is cancelled, emphasizing the limits of contractual obligations.

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