On Debt Relationships And Bankruptcy In Ancient Rome

Bankruptcy involves two aspects, one is the economic significance,it’s a state of unable to pay the debts;the other is a legal sense,it means a proceedings arising from the forementioned state.Ancient Roman definition of debts was so advanced,but early in the history,debt relationship was nervous, creditors and detors were in sharp contradiction.This constantly created new performance of those insolvency specification.This specification was initially free between the compulsory measures and the bankruptcy system, and based on compulsory measures, such as specification in the third table of Twelve Tables,Then it came to the involuntary bankruptcy,which involves venditio bonorum and distractio bonorum.Eventrally,what made bankruptcy and bankruptcy law to be independent were cession bonorum and Lex Iulia de bonis cedendis.So the legal sense of bankruptcy system was completed.In addition to the preface and conclusion, The article contains the other three chapters:In the first chapterrrrr——Obligation and Bankeruptcy,we will analyze on the basis of bankruptcyyyyy——obligation.First obligation origin from ex delicto,so it’s punishment to those non-performance,in early stage,those punishment mainly to one’s personal,later due to the new concept of obligation,it chiefly related to the property.Based on what we have discussed above,we will extend by the debt to bankruptcy.It is just a result of negative direction from the debt.By analysis of "bankruptcy"in the west we will find that bankruptcy already exists in ancient Rome.In the second chapter——The Debt Relationship in Acient Rome,we will illustrate the process of debt legislation from the dynamic point of view,Then we will explains the changes of debt relationship in ancient Rome.It will not only limited the debt relationship between creditors and debtors,but from the perspective of national interests and the interests of society,to illustrate that public power regulation and prevention of debt relations.In the third chapterrrrr——The Evolution of Bankruptcy System in Ancient Rome,we will specifically discusses the provisions and evolution of bankruptcy in ancient Rome,Requires at different times of Roman bankruptcy illustrates the changes of value orientation of bankruptcy legislation.The changes mainly shift from the personal execution to the property execution, from the involuntary bankruptcy to voluntary bankruptcy.This chapter specifically discusses the evolution of Rome bankruptcy law.