This specific line is actually said by Stephano, in Shakespeare's "Temptest", 1611 Shakespeare Tempest iii. ii. 126.
A similar form of this line, however, is said, even earlier, in 1597, during Henry IV - (The End of All Life, Cancels all Bonds.) - 1597-8 Shakespeare Henry IV, Pt. 1 iii. ii. 157.
The person's estate pays for all outstanding debts.
Magwitch, the convict who Pip helped in the past, is revealed to be the one who pays off all of Pip's debts in the novel "Great Expectations" by Charles Dickens. This act of kindness showcases Magwitch's gratitude towards Pip and his desire to make amends for past wrongdoings.
The estate of the deceased is responsible for paying all the deceased's lawful debts.
All the more reason to open an estate. The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
If the other assets are not sufficient to pay off the debts, yes you have to sell it. The estate has to resolve all debts.
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
Joe (the blacksmith) pays off all of Pip's debts when he is very sick.
It will depend on the debts and assets of the deceased. It is normally a good idea to establish one in order to settle all debts and terminate them if possible.
The executor is required to resolve all loans and debts. If there are co-signers on the loan, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
The estate pays all debts first and then distributes the assets. So yes they can.
The estate has to pay off all the debts including taxes due. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
The executor of the estate has to resolve all debts. If there are co-signers to the debt or loans, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.