Bankruptcy is the legal status of a person or organization that cannot repay debts owed to creditors. It involves a formal process under bankruptcy law where obligations are reorganized or discharged. The term conveys a state of financial insolvency and the potential for court-supervised resolution.
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0:58Adhesion
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1:03Arbitration
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1:01Bankruptcy
How to Pronounce Bankruptcy
0:56Breach
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1:00Capacity
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0:57Clause
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1:11Confidentiality
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0:59Conflict
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0:58Consent
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1:01Contingent
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