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Voluntary bankruptcy
Voluntary bankruptcyA proceeding by which a debtor voluntarily asks for a discharge of his debts under the Bankruptcy Code. RELATED TERMS-------------------------------------- Proceeding In its general acceptation, this word means the form in which actions are to be brought and defended, the manner of intervening in suits, of conducting them, the mode of deciding them, of opposing judgments and of executing. Debtor Debtor or obligor. The person who has engaged to perform some obligation. The word obligor, in its more technical signification, is applied to designate one who makes a bond. Discharge Practice. The act by which a person in confinement, under some legal process, or held on an accusation of some crime or misdemeauor, is set at liberty; the writing containing the order for his being so set at liberty, is also called a discharge. 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. Code Legislation. Signifies in general a collection of laws. It is a name given by way of eminence to a collection of such laws made by the legislature. SIMILAR TERMS-------------------------------------- Voluntary Willingly; done with one's consent; negligently. Voluntary departure The departure of an alien from the United States without an order of removal. The departure may or may not have been preceded by a hearing before an immigration judge. An alien allowed to voluntarily depart concedes removability but does not have a bar to seeking admission at a port-of-entry at any time. Failure to depart within the time granted results in a fine and a ten-year bar to several forms of relief from deportation. Voluntary deposit Civil law. One which is made by the mere consent or agreement of the parties. Voluntary escape The giving to a prisoner voluntarily, any liberty not authorized by law. Voluntary jurisdiction In the ecclesiastical law, jurisdiction is either contentious jurisdiction, or voluntary jurisdiction. By the latter term is understood that kind of jurisdiction which requires no judicial proceedings, as, the granting letters of administration and receiving the probate of wills. Voluntary nonsuit Practice. The abandonment of his cause by a plaintiff, and an agreement that a judgment for costs be entered against him. Voluntary sale Contracts. One made freely, without constraint, by the owner of the thing and old. Voluntary waste That which is either active or wilful, in contradistinction to that which arises from mere negligence, which is called permissive waste. Volunteers "1) Contracts. Persons who receive a voluntary conveyance 2) Army. Persons who in time of war offer their services to their country and march in its defence. PREVIOUS AND NEXT TERMS-------------------------------------- Voids In cashiering, ringing a "Void" to cancel a previous sale. Excessive voids may be a sign of theft. Voir dire A mini-hearing held during a trial on the admissibility of contested evidence. For example, a defendant may object to a plaintiff's witness. The court would suspend the trial, immediately preside over a hearing on the standing of the proposed witness, and then resume the trial with or without the witness, or with any restrictions placed on the testimony by the judge as a result of the voir dire ruling. In a jury trial, the jury would be excused during the voir dire. Volens (United Kingdom) Willing. Volenti non fit injuria Voluntary assumption of risk. A defence in tort that means where a person engages in an event accepting and aware of the risks inherent in that event, then they can not later complain of, or seek compensation for an injury suffered during the event. This is used most often to defend against tort actions as a result of a sports injury. Voluntary Willingly; done with one's consent; negligently. Voluntary bankruptcy Voluntary departure The departure of an alien from the United States without an order of removal. The departure may or may not have been preceded by a hearing before an immigration judge. An alien allowed to voluntarily depart concedes removability but does not have a bar to seeking admission at a port-of-entry at any time. Failure to depart within the time granted results in a fine and a ten-year bar to several forms of relief from deportation. Voluntary deposit Civil law. One which is made by the mere consent or agreement of the parties. Voluntary escape The giving to a prisoner voluntarily, any liberty not authorized by law. Voluntary jurisdiction In the ecclesiastical law, jurisdiction is either contentious jurisdiction, or voluntary jurisdiction. By the latter term is understood that kind of jurisdiction which requires no judicial proceedings, as, the granting letters of administration and receiving the probate of wills. Voluntary nonsuit Practice. The abandonment of his cause by a plaintiff, and an agreement that a judgment for costs be entered against him. We thank you for using the Juridical Dictionary to search for Voluntary bankruptcy. If you have a better definition for Voluntary bankruptcy than the one presented here, please let us know by making use of the suggest a term option. This definition of Voluntary bankruptcy may be disputed by other professionals. 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