King Charles gave Pennsylvania to William Penn in payment of a debt.
Money received can be income, payment for services rendered, credit towards a debt, etc.
The Pennsylvania colony was founded by William Penn in 1681, because of a debt King Charles II owed Penn's father.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Pennsylvania is 4 years. That is usually from the last use or payment.
It was granted to William Penn in lieu of money as payment of debt that was owed to his father. He embraced the Quaker lifestyle and made Pennsylvania a haven for Quakers and religious liberties.Pennsylvania was founded by William Penn. He did not fully agree with the Puritans so he became a Quaker. Quakers are people who do not like war.
A down payment is cash in hand. It reduces the risk of bad debt to that extent. It also improves the cash flow to the extent of the down payment received.
No, refusing a tender of payment does not discharge a debt.
Pennsylvania was begun by William Penn ( hence the name) who was a Quaker. In the 1700’s religions that weren’t the Church of England were percuted and discriminated against. Catholic priests were tortured and hung. Penn as a Quaker was arrested many times so when his father died he took the land now called Pennsylvania as payment of the debt the king owed his father. He later tired to sell tracts of land to people to settle in his colony.
william penn
Credit card companies in Pennsylvania, in all fifty states and the US territories have seven years to collect on a debt after the date of last payment. In the event a judgment has been granted, this increases to ten years from the date of judgment or last payment which ever is greater. Incidentally, this time limit is the same for rep[orting the debt on the debtor's credit report.
he did it to pay off a large debt he owed to william pens father
The Crown of England owed Penn's father a huge debt that could not be repaid in cash. William accepted a Land Grant in America as payment for the debt.