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What did Shays's rebellion have to do with state debt?
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What was the federalist view on the assumption of state debts?
The view was that the Federal Government should pay off the states' war debts.
To win support for the federal assumption of the state debts Hamilton's supportersnegotiated a bargain that?
D. call for the construction of a new national capital on the banks of the Potomac River.
What does political assumption mean?
1. Something that is believed to be true without proof. Example: The assumption that such people have a genuine choice of schools for their children is false.2. the process of beginning to take responsibility for something as assumption of office the time when someone starts a job. Example: on his assumption of office, the premier arrested several of the ministers in the former government."assumption." Dictionary of Politics and Government.London: A&C Black, 2004. Credo Reference.
What was the national debt in 1791?
the national debt was something used to create national debt
Who opposed assumption of state depts?
Madison, Viriginia, any state that had already paid off most of their debt
What is the Assumption Bill?
A bill passed in 1789 by the federal government. It made the Hamilton Design possible, by making each individual state debt, national debt
Why did the southerners finally agree to support debt assumption?
federal aid
Is it possible for you to transfer debt to another person?
Yes, it is possible to transfer debt to another person through a process called debt assignment or debt assumption. This typically involves the original debtor and the new debtor agreeing to the transfer of the debt responsibility.
What compromise was reached concerning assumption of state debts and the site of the nations's capital?
Assumption Compromise
Is wife responsible for debts of deceased husband in the state of Ohio?
The estate has the responsibility. And the assumption is that the wife inherits at least half, if not all, of the husband's assets. But the estate has to liquidate all assets before they can transfer them to the spouse. One way or another, the spouse really ends up paying the debt. If there is more debt then assets, the debt will normally be closed out.
Where do i state an assumption?
It is generally best to state your assumptions right at the beginning.
What were Washingtons precedents?
A Presidential Cabinet, an Assumption of Debt, Neutrality,( which includes treaties, and neutrality meaning avoiding war with Europe.)
If you move from one state to another but the in the state you previously lived in owe a debt does that statute of limitations for that debt change to the limitations of the state you move to?
No, the SOL is based on the state where the debt occurred. Moving to another state makes no difference.
What is the statute of limitation for debt if you move from one state to another?
The statute of limitations for debt varies by state and type of debt. Generally, the statute of limitations is based on the state where the debt was originally incurred. If you move to a state with a shorter statute of limitations, it does not shorten the time frame for collecting the debt. Be sure to check the specific laws in both states to understand your rights.
How can I transfer my debt to another person?
Transferring your debt to another person typically involves a process called debt assumption or balance transfer. This can be done by contacting your creditor to see if they allow debt transfers, or by using a balance transfer credit card. Keep in mind that transferring debt does not eliminate your responsibility to repay it, and the new person will need to agree to take on the debt.
What part of Alexander hamiltons plan for restructing the nations debt?
Alexander Hamilton's plan for restructuring the nation's debt primarily involved consolidating federal and state debts into a single national debt, which would be managed by the federal government. He proposed the federal assumption of state debts incurred during the Revolutionary War, arguing that this would establish the creditworthiness of the new nation. Additionally, Hamilton advocated for the creation of a national bank to facilitate the management of this debt and to stabilize the economy. This plan aimed to unify the country’s financial system and promote economic growth.
