Explain the Options Available to a Corporation That Issues Share

question 141

Essay

Explain the options available to a corporation that issues share subscriptions where partial payment has been received but the subscriber defaults on the balance.

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Definitions:

Bankruptcy Code

The body of federal law governing insolvency and the process by which individuals and entities can discharge or restructure debts.

Unpaid Child-Support

Outstanding financial payments that a parent is legally obligated to make to support their child's upbringing and welfare but has failed to pay.

Chapter 13

A bankruptcy process allowing individuals with regular income to develop a plan to repay all or part of their debts under court supervision.