Examlex
New cars use embedded computers to make driving safer.
Act of Bankruptcy
A specific action or failure to act that renders an individual or entity legally insolvent, triggering potential bankruptcy proceedings.
Unsecured Creditors
Creditors who have loaned money without obtaining specific collateral, meaning they have no special claim to the borrower's assets if the borrower fails to pay.
Bankruptcy Discharge
The legal process that releases a debtor from personal liability for certain specified types of debts, effectively wiping the slate clean.
Bankruptcy Law
A legal framework governing the process by which individuals or entities unable to meet their financial obligations can seek relief from some or all of their debts.
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