cessio bonorum
noun
cessio bo·no·rum
-bəˈnōrəm
Roman & civil law
: a voluntary assignment of a debtor's property to creditors by which the debtor escapes the more painful penalties of insolvency (such as liability to arrest and imprisonment) but is not generally discharged from liability for the debts : voluntary bankruptcy
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“Cessio bonorum.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/cessio%20bonorum. Accessed 26 Nov. 2024.
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