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Old 06-07-2013, 12:44 PM
md2000 md2000 is offline
Join Date: Feb 2009
Posts: 14,194
Originally Posted by Evylikechevy View Post
I'm an attorney. There is no reason. It has no effect. Rules for liability for debt are statutory and contractual..
Was it always so?

My understanding was that it was for marraige breakups, and occasionally other such diassociations like kicking the adult kids out of the house, or dissolution of a business partnership. Believe it or not, once upon a time, especially in small towns, a lot of merchants would allow credit for apparently creditworthy customers, and many debts were settled with personal cheques - i.e. a lot of commerce was done on faith.

The newspaper ad was due to the fact that publishing a notice in a widely circulated paper (they used to be, too) was the equivalent of making sure everyone knew - sort of like posting a notice in the town square.

The same sort of notices were IIRC required for other legal business, like bankruptcy and estate settlement announcements?