Cessio bonorum, as a kind of debt reimbursement of the insolvent debtor's creditors by a voluntary transfer of property together with beneficium competentiae, is one of the mysterious institutions of Roman law. In this paper the author shows onto the reasons for cessio bonorum, on its function, regulation and on the changes which this institution underwent during the Roman history. The author particularly emphasizes, the Roman law rule according to which it was prohibited for the creditors to acquire ownership on the debtors transferred goods (by cessio bonorum.) The reimbursement of debtors was done by public sale of the debtor's property (venditio bonorum) in a regular bankruptcy procedure and including the rules on fraus creditorum. The paper gives special attention to the existence of minimum goods and justified reasons of the debtor as necessary preconditions for the approval of cessio bonorum. Despite the prevailing opinion that among justified reasons for cessio bonorum lies also the fact that the debtor became insolvent without his fault (i.e. that his property perished by an occasion of vis maior), according to the author, is not confirmed by the sources (Seneca, De Beneficiis 7, 16 and C. Th. 4, 20, 1 from 379 A.D.). Analyzing the text of the constitution of Gratianus (C. Th. 4, 20, 1 about the prohibition of cessio bonorum, which would ultimately make the reimbursement of fiscal debts impossible in their entirety) in the circumstances of the postclassical society, the author arrives to the conclusion that the debtor's innocence for his insolvency was not a condition for the approval of cessio bonorum, but was a condition for keeping the necessary goods for supporting the family (beneficium competentiae) in the second instance of a debt settlement. However, having in mind that in the postclassical period, in terms of tax payment, the entire population of the Roman Empire was permanently a debtor of the imperial treasury, and that the circumstances of vis maior could been false or simulated, the decision about the remission of fiscal debts (indulgentiae reliquorum in function of beneficium competentiae) was solely in the hands of the emperors. If the interests of the Empire (utilitas publica) were not imperiled by cessio bonorum, than it depended only on the will of creditor whether he would accept this way of debt settlement, giving thereby a possibility of beneficium competentiae to the debtor. Taking into consideration that some kind of cessio bonorum as a way of debt settlement is again present in contemporary legislations as the so called personal bankruptcy, and its introduction is planning also in Serbia, according to the author, the questions discussed in this paper could be useful regarding the regulation and application of contemporary personal bankruptcy as well. [ABSTRACT FROM AUTHOR]