Creditor Definition

Creditor Sentence Examples

• If a debtor had neither money nor crop, the creditor must not refuse goods.

• When a debtor tenders the amount due to his creditor and the creditor refuses to accept, the debt is not discharged, but if the debtor is subsequently sued for the debt and continues willing and ready to pay, and pays the amount tendered into court, he can recover his costs in the action.

• Distraint on a debtor's corn was forbidden by the Code; not only must the creditor give it back, but his illegal action forfeited his claim altogether.

• The debtor could also pledge his property, and in contracts often pledged a field, house or crop. The Code enacted, however, that the debtor should always take the crop himself and pay the creditor from it.

• The creditor has the right of claiming the aid of the law against the defaulting municipality; and the amounts, the terms, and the time of duration of local debt are supervised in order to prevent injustice to particular persons or improvidence with regard to the revenue and property of the local units.