Word: debtors
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Fair Formula. Speaking for the court, Justice Hugo Black rejected Texas' claim as the state having the most "contacts" with the debt. To follow that rule would saddle the court with endless case-by-case litigation, said Black. New Jersey's claim as the debtor's domicile would "too greatly exalt a minor factor," while Pennsylvania's main-office argument might force the court to tot up the space or staff in one branch office after another...
...Louisville. On a typical day in the firm's short, unhappy life, Audubon's horse strayed away with a saddlebag full of cash while the proprietor stalked an unfamiliar warbler into the canebrake. Subsequent business ventures in other states and territories also foundered, leaving Audubon briefly in debtor's prison...
...Duke's court in Venice, where Shylock, refusing even 6,000 ducats, insists upon the letter of the bond, a pound of flesh to be sliced off Antonio's breast. The law's the law-the hard English common law with no mercy for a laggard debtor...
...bankruptcy rate has risen dramatically. In 1952, there were 34,873 bankruptcies, of which 28,331 (81.3%) were personal; in 1962, the U.S. total jumped to 147,780, of which 135,125 (89.5%) were personal. Bankruptcies are highest in states that permit creditors to garnishee a hefty slice of debtors' salaries and where there has been an influx of newcomers to the cities, looking for the good life and unaware of what the carrying charges for it will amount to. California, Illinois and Ohio, which have the highest bankruptcy rates in the country, are no strangers to the shyster...
...plan differed from conventional programs by "reversing the burden responsibility" for development "from creditor to debtor country...