Legal Definitions - cessio bonorum

Definition: Cessio bonorum is a Latin term that means "cession of goods." It refers to an assignment of a debtor's property to creditors in Roman law. This was the Roman equivalent of modern bankruptcy.

Examples: If a person owed money to several creditors and could not pay them back, they could make a cessio bonorum. This meant that they would give up their property to their creditors to pay off their debts. The person who made the cessio bonorum would not become infamis (disgraced), would not be liable for old debts beyond their means, and would not be personally seized in respect of them.

Explanation: The example illustrates how a person who could not pay their debts could make a cessio bonorum to avoid being disgraced and personally seized. By giving up their property to their creditors, they could pay off their debts and start anew without being burdened by old debts beyond their means.