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The word bankruptcy is derived from Italian banca rotta, literally meaning ' broken bank '. The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted.
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
B.A.P. — Bankruptcy Appellate Panel; BCLR – Butterworths Constitutional Law Reports (South Africa) BFP — Bona fide purchaser; Bla.Com. or Bl. Com. — Blackstone's Commentaries on the Laws of England; BLLR – Butterworths Labour Law Reports (South Africa) b/o — behalf of, on behalf of; see also o/b/o
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Bankruptcy law legal terminology (4 P) Bankruptcy theory (6 P) C. Companies that have filed for bankruptcy in Canada (105 P) Companies that have filed for Chapter 11 ...
Pages in category "Bankruptcy law legal terminology" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes. C.
Filing for bankruptcy requires a solid grasp of legal terminology, rules and procedures. Bankruptcy laws vary by jurisdiction and involve strict deadlines and complex documentation.
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]