Tuesday, November 4, 2008

Intro to Rulings

Credit played an important role in the territorial economy. Each party involved in a case was concerned for their financial bottom line. A large 17-page question and answer session revealed to the Court the exact details that were needed to make a decision. For example, one question requires the defendant to state their place of residence (Way, Bush & Co. v. Smith, et al 1862).

Money was central to the market. Creditors expected repayment of the loan with interest. When the debtor failed to repay the loan, then the creditor may fail to repay their loan to their creditors. The system worked on the basis of repayment, so litigation was relatively common in collections matters. The rulings were nearly always in favor of the plaintiff. The reasons for this include the thematic issue of repayment being mandatory for the maintenance of the system.

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