Origin of the word bankruptcy.
By Rachel Lynn Foley - Kansas City, MO Bankruptcy on Feb 11, 2007 in General Bankruptcy Information
The word bankruptcy is derived from two Latin words. The word bancus means table or bench and ruptus means broken. In the early 1800’s people used to come together in common areas such as the market place. Merchants would set up their businesses either on tables or benches throughout these common areas. When the merchant could no longer afford to stay in business his table/bench was broken to symbolize that he was no longer in business.
The term bankruptcy combines bancus and ruptus signifying that your bench is broken and you no are no longer able to conduct business.
If you liked that post, then try these...
What Should I Expect At The Trustee Hearing? by Eugene S. Melchionne, Connecticut Bankruptcy Attorney
10 Myths About Your Credit Report - Part 1: When You Pay Or Settle A Debt It Comes Off Your Credit Report by Jay Fleischman, New York Bankruptcy Lawyer
Just One More Time For The Record: Think, Twice, Thrice, Many More Times Before You Ever Decide To Represent Yourself! by Rachel Lynn Foley - Kansas City, MO Bankruptcy
1 Trackback(s)
You must be logged in to post a comment.