"When a man so respected and important as, for example, your late
brother--"
"M-my b-b-brother, yes."
"--is threatened with insolvency--"
"They c-c-call it in-ins-s-solvency?"
"Yes; when his failure is imminent, the court of commerce, to which he
is amenable (please follow me attentively), has the power, by a
decree, to appoint a receiver. Liquidation, you understand, is not the
same as failure. When a man fails, he is dishonored; but when he
merely liquidates, he remains an honest man."
"T-t-that's very d-d-different, if it d-d-doesn't c-c-cost m-m-more,"
said Grandet.
"But a liquidation can be managed without having recourse to the
courts at all. For," said the president, sniffing a pinch of snuff,
"don't you know how failures are declared?"
"N-n-no, I n-n-never t-t-thought," answered Grandet.
"In the first place," resumed the magistrate, "by filing the schedule
in the record office of the court, which the merchant may do himself,
or his representative for him with a power of attorney duly certified.
In the second place, the failure may be declared under compulsion from
the creditors. Now if the merchant does not file his schedule, and if
no creditor appears before the courts to obtain a decree of insolvency
against the merchant, what happens?"
"W-w-what h-h-happens?"
"Why, the family of the deceased, his representatives, his heirs, or
the merchant himself, if he is not dead, or his friends if he is only
hiding, liquidate his business.
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