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Today's Terms
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
Period of exclusivity
Definition:
Personal bankruptcy - filed by an individual; also called a household bankruptcy, consumer bankruptcy or wage-earner bankruptcy. (see Chapter 13 and also Chapter 12).
Chapter Nine
Definition:
Bankruptcies of municipalities; only a few of these are filed each year; over the period 1980 through 1988 there averaged about 4 Chapter 9 filings per year.
More Bankruptcy Terms >
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