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Debtor

money, person and liability

DEBTOR, a person who owes a debt, or under obligation, arising from express agree ment, implication of law, or from the principles of natural justice, to render and pay a sum of money to another. A person who by reason of an existing obligation is or many become liable to pay money to another whether such liability is certain or contingent is classed as a debtor. So are persons who have engaged to perform, or who owe to others the performance of an obligation; or who owe anything to others as money, goods or services. The term "any includes anyone who is capable of con tracting a debt and has done so. The relation of debtor and creditor may arise by direct agree ment or through breach of duty between the parties; the relation of debtor and creditor im plies, naturally, that the one has given credit to the other in a contract. The word debtor in its broad sense implies liability and includes corporations and partnerships as well as indi viduals. It likewise includes the indorser of a promissory note before maturity and all those who at the appointment of a receiver for the winding-up of a bank are liable to the bank for the payment of money, whether their liabil ity had matured or not, and without any regard to the exact nature of the liability, whether as principal or surety. If a person depart from

his usual residence or remain absent therefrom, or conceal himself in his house, so that he can not be served with process, with intent unlaw fully to delay or defraud his creditors, he is an absconding or delinquent debtor. But if he depart from the State or from his usual abode, with the intention of again returning and with out any fraudulent design, he has not absconded nor absented himself within the intendment of the law. Where a man stays away with intent to delay his creditors, he thereby absents him self within the meaning of a statute providing that traders absenting themselves to delay creditors shall be adjudged bankrupts. See