“The practice of ‘chancering’ is a very old one. A forfeiture could be ‘chancered’ under a law of 1699…. Adjudged cases in 1630–1692 may be found in the Records of the Court of Assistants of Massachusetts Bay Colony. The early laws of Massachusetts provided for ‘chancering’ the forfeiture of any penal bond…. In Rhode Island an act of 1746 provided for ‘chancerizing’ the forfeiture ‘where any penalty is forfeited, or conditional estate recovered, or equity of redemption sued for, whether judgment is confessed or otherwise obtained.’ ” 1 John Bouvier, Bouvier’s Law Dictionary 456–57 (8th ed. 1914).
chancer
chancer (chan-s[schwa]r), vb. To adjust according to equitable principles, as a court of chancery would. • The practice arose in parts of New England when the courts had no equity jurisdiction, and were compelled to act on equitable principles.
