What Is Bankruptcy

question 11

Multiple Choice

What is bankruptcy?

• A) It is a wrongful act by one party that results in injury to a second party's person, property, or reputation, for which the first party is liable.
• B) It is a HYPERLINK "http://www.investorwords.com/2756/legal.html" legal process by which the lender takes away the borrower's HYPERLINK "http://www.investorwords.com/4282/right.html" right to a HYPERLINK "http://www.investorwords.com/3900/property.html" property.
• C) It is a body of laws passed by state governments.
• D) It is a formal legal condition of inability to repay debts.

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Definitions:

Sorcery

A practice believed to involve magical skills or supernatural powers to manipulate or predict natural events.

Fictional

Pertaining to works of the imagination or narratives that are not based on real events or characters but are created by the author's imagination.

Unpopular

Lacking general approval, acceptance, or favor within a community or group.

Insulted

The feeling or state of being offended or emotionally hurt by words or actions.