Bankrupt/insolvent system
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 39 U.S. 67 - Henry Suydam v. Robert Broadnax · 1840Most cited · 144 citing opinions
Every bankrupt or insolvent system in the world must partake of the character of a judicial investigation. Parties whose rights are affected, are entitled to a hearing. Hence, any bankrupt or insolvent system professes to summon the creditors before some tribunal, to show cause against granting a discharge to the bankrupt. But on what principle can a citizen of another state be forced into the Courts of a state for this investigation? The judgment to be passed, is to prostrate his rights; and on the subject of those rights, the Constitution exempts him from the jurisdiction of the state tribunals, without regard to the place where the contract may originate.