BANKRUPT in Legal Meaning
The BANKRUPT meaning in Legal terms is "Bankruptcy". There are 1 related meanings of the BANKRUPT Legal abbreviation.
BANKRUPT on Legal Full Forms
- Bankruptcy The legal process that a person or firm goes through if they are unable to pay their debts. The process seeks an orderly sharing of the losses by creditors and a chance to start fresh, usually after some delay, for the debtor. No such process exists for national governments or countries, exacerbating the problems of debt crisis and financial crisis.
Frequently Asked Questions (FAQ)
What does BANKRUPT stand for Legal?
BANKRUPT stands for Bankruptcy in Legal terms.
What is the shortened form of Bankruptcy in Legal?
The short form of "Bankruptcy" is BANKRUPT for Legal.
Citation
BANKRUPT in Legal. Acronym24.com. (2020, May 23). Retrieved March 12, 2025 from https://acronym24.com/bankrupt-meaning-in-legal/
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