Bankruptcy and Financial Law
This is when a company or individual declares their inability to pay debt.
What is Bankruptcy?
Bankruptcy allows individuals to seek protection from ______.
What is Creditors?
Bankruptcy is thought of as "________________" financially.
What is "starting anew"
Money owed.
What is Debt?
People who try to collect unclaimed money from companies or individuals.
What is Investors?
Someone who owes money to a creditor.
What is a Debtor?
Someone who is owed money by debtors.
What is a creditor?
Anything owed by the company, such as buildings, real estate and products.
What is an Asset?
What process starts with the debtor having financial trouble.
What is the Bankruptcy process?
The Bankruptcy Process may involve selling ________ due to debt.
What is Assets?
The Bankruptcy Process is a continuous event, so a bankrupt company may still be able to conduct ________.
What is Business?
Ends with the debtor having reduced debt.
What is the Bankruptcy Process?
Loans given to high-risk customers.
What is Subprime loans?
Is a governmental organization responsible for the protection of consumers.
When one company combines with another and the two operate as equals.
What is Merger?
To regulate and safeguard of the economy.
What is financial law?
Was Created in 1863.
Developed a nationally currency.
What is the National Bank Act?
Allows each organization to have limited power.
What is financial organizations?
Formed in response to bank failures, the Great Depression and the stock market crash of 1929.
What is The Federal Deposit Insurance Corporation?(FDIC)
Are defined as raw inputs used to produce goods
What is Commodities?
Are governed by federal law.
What is Bankruptcy Proceedings?
Allows many of these companies to reduce debt and survive.
What is Bankruptcy in Business?
Rating assigned to individuals based on their ability to repay obligations.
What is credit rating?
Protect consumers from creditors.
What is Consumer Lending Laws.
Customers who have a poor credit history; less likely to be prompt in paying off their loans.
What is high risk?