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Bankruptcy



Bankruptcy - in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most instances, to discharge the debtor from further liability. In the United States, bankruptcy is controlled by a federal law adopted in   Read More...

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Bankruptcy

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    The End of Bankruptcy, in Stanford Law Review
    by Douglas G. Baird, Robert K. Rasmussen. 39 pgs.


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