cessio bonorum
cessio bonorum (sesh-ee-oh b[schwa]-nor-[schwa]m). [Latin “cession of goods”] Roman law. An as-signment of a debtor’s property to creditors. [Cases: Debtor and Creditor 1, 12. C.J.S. Assignments for Benefit of Creditors §§ 2, 4, 27; Creditor and Debtor §§ 2–3, 106–109.] “It was the Roman equivalent of modern bankruptcy…. [O]ne who thus made cessio bonorum would […]