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Exempt
To free or release from an obligation, requirement, or other restriction, typically used in legal, financial, or regulatory contexts.
Bankruptcy
A legal proceeding involving a person or business that is unable to repay outstanding debts, through which they seek relief from some or all of their debts.
Federal Law
Legislation enacted by the national government and applicable throughout the country.
Unenforceable
Describes a contract or clause that cannot be executed by legal action because of certain legal defenses or barriers.
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