Seisachtheia was a set of laws instituted by the Athenian lawmaker Solon

Solon

Solon was an Athenian statesman, lawmaker, and poet. He is remembered particularly for his efforts to legislate against political, economic and moral decline in archaic Athens...

 (c. 638 BC–558 BC) in order to rectify the widespread serfdom

Serfdom

Serfdom is the status of peasants under feudalism, specifically relating to Manorialism. It was a condition of bondage or modified slavery which developed primarily during the High Middle Ages in Europe and lasted to the mid-19th century...

 and slaves that had run rampant in Athens

Athens

Athens , is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, as its recorded history spans around 3,400 years. Classical Athens was a powerful city-state...

 by the 6th century BC, by debit relief. Under the pre-existing legal status, according to the account of the Constitution of the Athenians

Constitution of the Athenians

The Constitution of the Athenians is the name of either of two texts from Classical antiquity, one probably by Aristotle or a student of his, the other attributed to Xenophon, but not by him....

attributed to Aristotle, debtors unable to repay their creditors would surrender their land to them, then becoming hektemoroi, i.e. serf

SERF

A spin exchange relaxation-free magnetometer is a type of magnetometer developed at Princeton University in the early 2000s. SERF magnetometers measure magnetic fields by using lasers to detect the interaction between alkali metal atoms in a vapor and the magnetic field.The name for the technique...

s who cultivated what used to be their own land and gave one sixth of produce to their creditors. Should the debt exceed the perceived value of debtor's total assets, then the debtor and his family would become the creditor's slaves as well. The same would result if a man default

Default (finance)

In finance, default occurs when a debtor has not met his or her legal obligations according to the debt contract, e.g. has not made a scheduled payment, or has violated a loan covenant of the debt contract. A default is the failure to pay back a loan. Default may occur if the debtor is either...

ed on a debt

Debt

A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.A debt is created when a...

 whose collateral

Collateral (finance)

In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.The collateral serves as protection for a lender against a borrower's default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation...

 was the debtor's personal freedom.

The seisachtheia laws immediately cancelled all outstanding debts, retroactively emancipated all previously enslaved debtors, reinstated all confiscated serf property to the hektemoroi, and forbade the use of personal freedom as collateral in all future debts. The laws instituted a ceiling to maximum property size - regardless of the legality of its acquisition (i.e. by marriage

Marriage

Marriage is a social union or legal contract between people that creates kinship. It is an institution in which interpersonal relationships, usually intimate and sexual, are acknowledged in a variety of ways, depending on the culture or subculture in which it is found...

), meant to prevent excessive accumulation of land by powerful families.