Bankruptcy is a special form of compulsory execution (Legal enforcement) which takes place when several creditors have financial claims against a debtor. A feature of bankruptcy is that the creditors form an association and are given satisfaction by receiving a share in the debtor’s assets. When the assets are over-committed, each creditor receives only a partial amount of his or her original claim. This type of…
Cite this page
Encyclopedia of Early Modern History Online, Executive editor of the English edition: Graeme Dunphy.
Consulted online on 30 March 2017 <http://dx.doi.org/10.1163/2352-0272_emho_COM_022522>