Under the common-law doctrine of champerty, it was once illegal to buy debt for the sole purpose of litigating it; however, that doctrine has been rejected in the United States and elsewhere.
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Get it written →Under the common-law doctrine of champerty, it was once illegal to buy debt for the sole purpose of litigating it; however, that doctrine has been rejected in the United States and elsewhere. Is there anything wrong with buying debt at a discount and then bringing suit for the full amount?
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