In contrast, divorce agreements finalize the liability of each spouse for debts contracted during the marriage. (info.legalzoom.com)
Worse, debt contracts by «independent» authorities face fewer constitutional limits than borrowing by the state itself — which lets the slush - fund spending get even larger. (nypost.com)
Bankruptcy law, however, also limits the enforceability of debt contracts, as lenders may respond to higher exemptions by raising the price of debt or rationing credit. (ftorralba.com)