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Line 1: − A person or business is considered '''bankrupt''' when they are economically insolvent. This can happen when an individual owes more than they have or can reasonably expect to have to cover their personal debts, or in a business, when the liabilities exceed the assets and it is doubtful this condition will improve. + − − ==See also== − − *[[bankruptcy]] − *[[United States Bankruptcy Court]] − − [[Category:Economics]] − [[Category:Bankruptcy Law]]
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#REDIRECT[[Bankruptcy]]