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Chapter 7
A provision under the U.S. Bankruptcy Code involving the liquidation of a debtor's assets to pay off creditors.
Preference Provision
A clause in a contract or agreement that gives a party a special right or privilege, often related to financial matters like dividends or bankruptcy claims.
Article 9
Refers to a portion of the Uniform Commercial Code (UCC) that governs secured transactions in personal property.
Business
The organized efforts and activities of individuals to produce and sell goods and services for profit.
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