Juridical Dictionary

This dictionary contains:
8526
juridical terms

Bankruptcy




Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested or initiated by the bankrupt individual or organisation, or it can be requested by creditors in an effort to recoup a portion of what they are owed. However, in the overwhelming majority of cases, the bankruptcy is initiated by the "bankrupt" individual or organization.

RELATED TERMS
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Bankruptcy
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested or initiated by the bankrupt individual or organisation, or it can be requested by creditors in an effort to recoup a portion of what they are owed. However, in the overwhelming majority of cases, the bankruptcy is initiated by the "bankrupt" individual or organization.

State
1) Government. In its most enlarged sense, it signifies a self-sufficient body of persons united together in one community for the defence of their rights, and to do right and justice to foreigners. In this sense, the state means the whole people united into one body politic; and the state, and the people of the state, are equivalent expressions. 2) Condition of persons. This word has various acceptations. If we inquire into its origin, it will be found to come from the Latin status, which is derived from the verb stare, sto, whence has been made statio, which signifies the place where a person is located, stat, to fulfil the obligations which are imposed upon him.

Bankrupt
French banque, a table or counter; route, trace, track: his "banque" was removed and no trace of it left. Italian banca rotta, a broken bench: a money-changer's bench was broken up, on his failing in business. A trader who secretes himself, or does certain other acts tending to defraud his creditors. Bankruptcy is a proceeding of an equitable nature - a sequestration of a debtor's property that the creditors may resort to, instead of an ordinary suit at law or in equity.

Portion
That part of a parent's estate, or the estate of one standing in loco parentis, which is given to a child.

Majority
1) Persons. The state or condition of a person who has arrived at full age. He is then said to be a major, in opposition to minor, which is his condition during infancy. 2) Government. The greater number of the voters; though in another sense, it means the greater number of votes given in which sense it is a mere plurality.

Cases
General term for an action, cause, suit, or controversy, at law or in equity; questions contested before a court of justice.



SIMILAR TERMS
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Bank
Com. law. 1) A place for the deposit of money. 2) An institution, generally incorporated, authorized to receive deposits of money, to lend money, and to issue promissory notes, usually known by the name of bank notes.

Bank examiner scheme
The Fraudster poses as a Bank Examiner who is trying to catch a dishonest teller. The Bank Examiner needs the victim to withdraw a substantial sum from their account to test the teller. The Bank Examiner then asks the victim to hand over the cash for a receipt while they use the cash as evidence. The fraudulent Bank Examiner then disappears with the cash ,and the receipt turns out to be worthless.

Bank robber
An offender who robs banks.

Bank stock
The capital of a bank. It is usually divided in shares of a certain amount. This stock is generally transferable on the bools of the bank, and considered as personal property

Bankbook
Com. A book which persons dealing with a bank keep, in which the officers of the bank enter the amount of money deposited by them, and all notes or bills deposited by them, or discounted for their use.

Banker
Com. law. A banker is one engaged in the business of receiving other persons money in deposit, to be returned on demand discounting other persons' notes, and issuing his own for circulation. One who performs the business usually transacted by a bank.

Bankers' note
Contracts. Promissory notes, and resemble bank notes in every respect, except that they are given by persons acting as private bankers.

Bankrupt
French banque, a table or counter; route, trace, track: his "banque" was removed and no trace of it left. Italian banca rotta, a broken bench: a money-changer's bench was broken up, on his failing in business. A trader who secretes himself, or does certain other acts tending to defraud his creditors. Bankruptcy is a proceeding of an equitable nature - a sequestration of a debtor's property that the creditors may resort to, instead of an ordinary suit at law or in equity.

Bankruptcy attorney
An attorney who has specialized in bankruptcy cases.

Bankruptcy fraud
The Perpetrator files a notice of bankruptcy. He then approaches each of his creditors (who have received a cop of the notice of bankruptcy) and tells each one in turn that they are the special one that he wants to see get paid at least something. The creditor often settles for 10% of the amount owed. Once a settlement with one creditor is reached, the Perpetrator approaches the next creditor, and so on until all creditors have been settled with at a small fraction of the outstanding amounts owed. The Perpetrator then withdraws his petition for bankruptcy, have extinguished most of his debt for a small fraction of the original amount.

Bankruptcy judge
The judge who determines whether a debtor is entitled to a discharge in bankruptcy.

Bankruptcy law
The area of the legal profession dealing with bankruptcy. Search for "bankruptcy" at this dictionary.

Banks of rivers
Estates. By this term is understood what retains the river in its natural channel, when there is the greatest flow of water.



PREVIOUS AND NEXT TERMS
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Bankruptcy

Bankruptcy law
The area of the legal profession dealing with bankruptcy. Search for "bankruptcy" at this dictionary.

Bar
The body of individuals qualified to practice law in a particular jurisdiction.

Business law
A particular area of the legal profession dealing with business legislation and business disputes.

Business and corporate law
The area of law dealing with corporate matters and disputes.

Bylaw
A standing rule governing the regulation of the internal affairs of a corporation or organization.

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This dictionary contains 8526 terms.







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