Concept information
Preferred term
bankruptcy and bankruptcy laws
Definition
- The legal declaration that an individual is unable to pay his or her debts, and the laws establishing the legal rights and responsibilities of a person who declares bankruptcy. A person or business that declares bankruptcy is relieved of paying much of their debt but often must surrender assets to satisfy creditors. [Source: Student's Guide to the Supreme Court; Bankruptcy and Bankruptcy Laws]
Broader concept
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-MD01XKVQ-K
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