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The US agreed to pay all of its prewar debts to England?
Yes.
What was a major cause of the panic of 1819 Apex answer?
Banks calling in loans they had made to farmers and businesses
Why was there more cotton production after the civil war?
south needed money to pay off the debts
What did Whitney do after graduating college?
After graduating college Eli WHitney worked as a tutor to earn money and pay his University debts.
Why did british tax the colonists?
The British Empire taxed the colonists in the 13 colonies mainly because the French and Indian War against France had ended in 1763. The war was costly for Britain and forced King George III to find money to pay off debts elsewhere in the empire.
What does insolvency mean?
1 unable to meet debts; bankrupt 2 insufficient to meet all debts; as estate or fund
The term bankrupcy specifically refers to?
Being unable to pay debts and honor monetary commitments.
True or false The act of being declared legally unable to pay one's debts is called bankruptcy?
true
What caused problems with the economy after the Revolutionary war.?
Mounting debts to pay for the war and Congress being unable to collect taxes directly.
What is the meaning of bankrupt?
declared in law unable to pay outstanding debts.
What was the consequence for farmers during the dust bowl?
They were unable to pay their debts.
The federal government was unable to pay its Revolutionary War debts because it could not?
The federal government was unable to pay its Revolutionary War debts because it did not have the power to levy taxes. The war was fought from 1775 to 1783.
The term bankruptcy specifically refers to what?
Bankruptcy refers to a legal process that individuals or businesses go through if they are unable to repay their debts. It typically involves a court-supervised reorganization or liquidation of assets to settle debts and provide relief to debtors.
What is the difference between Solvency and insolvency?
The difference between solvency and insolvency is that the former describes the state of being able to pay one's debts. whereas the latter describes one's state of being unable to pay.
What happens in Pennsylvania if you can't pay for your credit cards?
If you are unable to pay debts, depending on how much money is involved, you may have to declare bankruptcy or liquidate your assets to pay off debts
What is a legal proceeding for distributing to creditors the assets of those unable to pay their debts?
Bankruptcy
What is a person called who is unable to pay their debts?
They are called a debtor, and they are often bankrupt.
