Principles
| “ | Insolvency laws were the means by which the demands of commercial morality can be met, through the investigation and the disciplinary measures and restrictions imposed on the bankrupt. | ” |
The two key principles suggest by Cork were:
| “ | Insolvency laws were treated by the trading community as an instrument in the process of debt recovery and constitute in many cases, the sanction of last resort for the enforcement of obligations;
Insolvency laws were the means by which the demands of commercial morality can be met, through the investigation and the disciplinary measures and restrictions imposed on the bankrupt. |
” |
Read more about this topic: Report Of The Review Committee On Insolvency Law And Practice
Famous quotes containing the word principles:
“That, upon the whole, we may conclude that the Christian religion not only was at first attended with miracles, but even at this day cannot be believed by any reasonable person without one. Mere reason is insufficient to convince us of its veracity: And whoever is moved by Faith to assent to it, is conscious of a continued miracle in his own person, which subverts all the principles of his understanding, and gives him a determination to believe what is most contrary to custom and experience.”
—David Hume (1711–1776)
“It is always easier to fight for one’s principles than to live up to them.”
—Alfred Adler (1870–1937)
“Syntax is the study of the principles and processes by which sentences are constructed in particular languages. Syntactic investigation of a given language has as its goal the construction of a grammar that can be viewed as a device of some sort for producing the sentences of the language under analysis.”
—Noam Chomsky (b. 1928)