Difference between revisions of "Bankruptcy law"
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| − | '''Bankruptcy law''' is the area of [[federal]] [[law]] dealing with the handling of [[bankrupt]] [[persons]] or [[business|businesses]]. In bankruptcy, all debts are nominally discharged, meaning that [[creditor|creditors]] must fight for primacy of their claims, or face a [[debtor]] who has no more money to pay out. | + | '''Bankruptcy law''' is the area of [[federal]] [[law]] dealing with the handling of [[bankrupt]] [[persons]] or [[business|businesses]]. In bankruptcy, all debts are nominally discharged, meaning that [[creditor|creditors]] must fight for primacy of their claims, or face a [[debtor]] who has no more money to pay out. Liberals are almost twice as likely as conservatives to declare bankruptcy, as paying one's debts and living within one's means are primarily conservative values, as opposed to the liberal values of instant gratification and government intervention. |
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== See also == | == See also == | ||
Revision as of 06:34, April 1, 2012
Bankruptcy law is the area of federal law dealing with the handling of bankrupt persons or businesses. In bankruptcy, all debts are nominally discharged, meaning that creditors must fight for primacy of their claims, or face a debtor who has no more money to pay out. Liberals are almost twice as likely as conservatives to declare bankruptcy, as paying one's debts and living within one's means are primarily conservative values, as opposed to the liberal values of instant gratification and government intervention.