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Bankruptcy
Popularly defined as insolvency, the inability of a debtor to paydebts as they become due. Technically, however, it is the legal process underthe Federal Bankruptcy Act by which assets of the debtor are liquidated asquickly as possible to pay off creditors and to discharge the bankrupt, or freehim of his debts, so that he may start anew.
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Law Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 A: Page 1 of 7.
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