Abstract
James I's declaration to the Parliament of 1621 was quickly followed on March 31, 1621, by a proclamation abolishing “bills of conformity”—a remedy for insolvent debtors in the English courts of equity. MPs had raised conformity as a grievance early in the session, and debate was one-sided. James's admission, and the proclamation suppressing conformity that followed, explained that debtors exhibited the bills for “no other end or purpose, but to defeat or delay their just and honest Creditors.” Conformity was “so great an evill” that it had encouraged “wilfull Bankerupts,” caused a scarcity of money, and triggered a trade depression. A statute passed in the Parliament of 1624 closed the remaining loopholes and abolished conformity.
Publisher
Cambridge University Press (CUP)
Cited by
3 articles.
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