Firstly, he noted the objection " That an Action of " Debt " would not lie here and no " Assumpsit " will lie, where an Action of Debt may not be brought "; and responded that the rule was " That an Action of " Assumpsit"
12.
The conditional bond has been characterized as the dominant method for framing substantial contracts in the later medieval and early modern periods . In fact, during the Tudor Period, actions of debt were the most numerous single class of actions in the Common Pleas rolls ( and would continue to be so for the next 300 years ).
13.
Mr . Wentworth contended, that by the evidence of the plaintiff s son, it appeared that a formal instrument had been executed by the parties, binding them, under their hands and seals, to certain performances of a contract for a specified term of years, and that the present action of assumpsit for use and occupation, could not lie, but that an action of debt would have been the proper cause to pursue ."
14.
It was resolved, that the plaintiff in this action upon the case upon " assumpsit " shall not recover only damages for the special loss ( if any be ) which he has, but also for the whole debt, so that recovery or barre in this action shall be a good bar in an action of debt brought upon the same contract; so " vice versa ", a recovery or bar in an action of debt is a good bar in an action upon the case upon " assumpsit " . }}
15.
It was resolved, that the plaintiff in this action upon the case upon " assumpsit " shall not recover only damages for the special loss ( if any be ) which he has, but also for the whole debt, so that recovery or barre in this action shall be a good bar in an action of debt brought upon the same contract; so " vice versa ", a recovery or bar in an action of debt is a good bar in an action upon the case upon " assumpsit " . }}
16.
And be it enacted that the President, cashier, each of the directors and officers of every institution established or to be established as aforesaid, offending against the provisions aforesaid shall forfeit a sum of $ 500 for each and every offence, and every person having any agency in circulating any note aforesaid, not stamped as aforesaid directed, shall forfeit a sum not exceeding $ 100, every penalty aforesaid to be recovered by indictment or action of debt in the county court of the county where the offence shall be committed, one-half to the informer and the other half to the use of the State . ..
17.
Professor John Makdisi's " The Islamic Origins of the Common Law " in the " North Carolina Law Review ", Makdisi drew comparisons between the " royal English contract protected by the action of debt " and the " Islamic " Aqd " ", the " English assize of novel disseisin " ( a petty assize adopted in the 1166 at the Assizes of Clarendon ) and the " Islamic " Istihqaq " ", and the " English jury " and the " Islamic " Lafif " " in the classical Maliki school of Crusaders, may have been adapted from the Islamic " Waqf " and " Hawala " institutions they came across in the Middle East.
