Concept information
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social history of crime
courts, corrections, punishments
United States Supreme Court
United States law
Preferred term
bankruptcy and bankruptcy laws
Definition
- The legal declaration that an individual is unable to pay his or her debts, and the laws establishing the legal rights and responsibilities of a person who declares bankruptcy. A person or business that declares bankruptcy is relieved of paying much of their debt but often must surrender assets to satisfy creditors. [Source: Student's Guide to the Supreme Court; Bankruptcy and Bankruptcy Laws]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/bankruptcy_and_bankruptcy_laws
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