Register - Log In


FunTrivia Homepage


  • New Questions

  • Unanswered


  • Post a Question

    • Goto Qn #




    Archives

    What exactly is Bankruptcy?

    Question #24885. Asked by Simple Simon. (Dec 06 02 12:12 AM)


    palaceben

    		It is the state of being Bankrupt .... not very helpful so here is Merriam Webster's definition of Bankrupt:

    a : a person who has done any of the acts that by law entitle his creditors to have his estate administered for their benefit b : a person judicially declared subject to having his estate administered under the bankrupt laws for the benefit of his creditors c : a person who becomes insolvent

    Hope this helps...... most definitely a legal term.

    Dec 06 02, 12:55 AM

    Find something useful here? Please help us spread the word about FunTrivia. Recommend this page below!


    Sign up to see all responses!

    Create a Free ID instantly to see all recent responses, post your own follow-ups or questions, and access over 1,000,000 trivia questions!

    Choose a User Name:
    Your Email Address:
    Choose a Password:

    I agree by the terms outlined in FunTrivia's Conditions of Use




    Other Similar Questions & Answers


    What is the term used by the United States Bankruptcy Code to describe a category of bad acts that taint a particular debt such that it cannot be discharged in bankruptcy?

    A new bankruptcy law is being criticized as being too problematic, with too many areas needing tightening. One program, WEPP is being lauded however. It is to protect employees from employers who declare bankruptcy. What does the acronym stand for?

    What is the largest industrial bankruptcy in US history?

    Suggested Related FunTrivia Quizzes - 90,000 currently online

    1 "T*Witches" - Twins. Witches. Exactly.
    This quiz is about the teen series "T*Witches," which is about long-lost twins who happen to be witches. Enjoy!
    		Gilmour, HB Average
    10 Q
    nicolekrocks
    Jun 20 05
    201 plays




    "Ask FunTrivia" is for entertainment purposes only, and answers offered are unverified and unchecked by FunTrivia. We cannot guarantee the accuracy or veracity of ANY statement posted. Feel free to post an updated response if you feel that an answer is inadequate or incorrect. Please thoroughly research items where accuracy is important to you using multiple reliable sources. By accessing our website, you agree to be bound by our terms of service.