Examlex
The US Constitutional does not allow for
Adjustment of Debts
A legal process or agreement designed to modify the terms or conditions of debt, often to extend the repayment period or reduce the amount of the installments.
Liquidation Proceedings
The process in a business context where a company's assets are distributed to claimants as part of the dissolution of the company.
Chapter 7
A bankruptcy process outlined in the U.S. Bankruptcy Code allowing individuals or businesses to discharge their debts by liquidating their assets.
Bankruptcy Code
The Bankruptcy Code is the federal law governing bankruptcy proceedings in the United States, providing for various forms of debt relief for individuals and organizations.
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