Exemptions are important in bankruptcy. If property is âexemptâ, it means the debtor. may keep the property and does not have to turn it over to the bankruptcy trustee. All property-. even property the debtor intends to keep -must be listed on the debtorâs bankruptcy schedules.
In 1803 Robert Fulton invented the steamboat In 1736, Jonathan Hulls took out a patent in England for a Newcomen engine-powered steamboat. (but James Watt's improvement to t â¦ he steam engine made it feasible).
In 1802 Fulton contracted with Robert Livingstone to build a steamboat that would ply the Hudson River. Livingstone held the rights for steamboat navigation on the waterway. By August 1807, Fulton's boat was ready for a trial run from New York City to Albany and back. On the afternoon of Monday August 17, the vessel was moored on the East River off Greenwich Village. Aboard were Fulton, Livingston and numerous adventurous friends eager to make the historic voyage. The boat (called the Clermont by history although there is no evidence that Fulton used this name) was an odd looking craft 150 fifty feet long and 13 feet wide, drawing 2 feet of water.