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184

Article 184

Des Faillites

Commercial Law
Titre IV: Des Faillites et Banqueroutes (On Bankruptcies and Fraudulent Bankruptcies)
Chapitre I: Des Faillites (On Bankruptcies)

La faillite sera évidemment ouverte, lorsque le débiteur se sera retiré ou fermé ses magasins, ou qu'il aura déclaré être dans l'impossibilité de payer, ou que les scellés auront été apposés sur ses biens.

Life lesson: Bankruptcy is official when the merchant shuts his doors, admits he can't pay, or has his property sealed by the court.
Notes: Bankruptcy opening triggers: (1) debtor withdraws/closes shops, (2) debtor declares inability to pay, (3) judicial seals placed on property. Three alternative triggers.
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