Examlex
Which of the stages of event management is the time for asking questions about a potential event?
Redemption
The buying back of one’s property after it has been sold. The right to redeem property sold under an order or decree of court is purely a privilege conferred by, and does not exist independently of, statute.
Collateral
An asset that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.
Bankruptcy Petition
A formal request filed by an individual or entity seeking the protection of bankruptcy laws to resolve insolvency issues.
Chapter 7
Chapter 7 refers to a chapter of the U.S. Bankruptcy Code, under which individuals or businesses can liquidate their assets to pay off creditors.
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