Bankruptcy

Bankruptcy

Under authority of the federal bankruptcy act, individuals and companies may be relieved of most of their debt.

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Part of Speech: verb
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Industry/Domain: Law
Category: US law
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Related terms

bankruptcy

Economy; Economics

When a court judges that a debtor is unable to make the payments owed to a creditor. How bankrupts are treated can affect economic growth. If bankrupts are punished too severely, ...

bankruptcy

Law; US law

Under authority of the federal bankruptcy act, individuals and companies may be relieved of most of their debt.

bankruptcy

Legal services; Courts

Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the ...

bankruptcy

Economy; International economics

The condition of a legal entity that does not have the financial means to pay their incurred debts as they come due. In the U. S. this status is established through legal ...

bankruptcy

Banking; Investment banking

Inability to meet payment obligations leading to the enforced liquidation of the assets of a debtor entered in the Commercial Register. The proceeds of the liquidation are ...

bankruptcy

Agriculture; General agriculture

A legal process in which a debtor unable to pay debts has his assets liquidated and the debtor is relieved of further liability for those debts.

annotation

Law; US law

Annotation is the note or commentary, often with reference to other authority; like American Law Reports, an annotated reporter.

American law reports

Law; US law

An annotated reporter by Lawyers Cooperation Publishing Company is called as American Law Reports and is revised every year.

constitution

Law; US law

Constitution is the highest and fundamental form of law.Amendments in constitution are added after approval.

report

Law; US law

A law book containing opinions of the court, also called cases. A report, as opposed to a reporter, is generally official, meaning it is published by or under the authority of the ...

res judicata

Law; US law

The doctrine that a case that has been decided on its merit will not be re-litigated, is termed as res judicata.

respondeat superior

Law; US law

A doctrine according to which one in a supervisory position, such as an attorney, will be held accountable for the acts of those under his supervision.

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