42 Horse Racing. 



on an equality with the defaulters. He has no 

 excuse for not settling in the event of losing 

 his money, although the defaulter cannot appeal 

 for justice, because he is in the situation of an 

 outlaw. 



The rule is clear : he who does not pay what he 

 has lost, is not entitled to receive what he may 

 have won, unless he pays his debts within the 

 prescribed time, viz. "one year." It frequently 

 happens, that persons who have neither the means 

 nor the intention of paying their debts, attend at 

 the settling day, collect all the money they can 

 obtain from their dupes, and then levant. In all 

 suspicious cases, every man is justified in with- 

 holding the amount of claims if he has good reason 

 to doubt the honesty of the settling. The debtor 

 may refuse to pay, till he is satisfied of the solvency 

 and good faith of his creditor. It also frequently 

 happens, that persons who have no intention of 

 defrauding their creditors, obtain accommodation 

 for time, or make agreements for future payments. 

 These persons are not to be considered defaulters, 

 and nobody can legally refuse to pay their just 

 claims, if they satisfy the demands of their creditors, 

 in failure of which, any of their debtors may refuse 

 to pay, and the settlement is suspended. A person 

 can only be deemed and treated as a defaulter by 



