What Is the Definition of the Following Term

question 11

Short Answer

What is the definition of the following term:
-proof texts:

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Definitions:

Bankruptcy

A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.

Discharge

The release or dismissal of a particular obligation, debt, or accusation, often legally sanctioned.

Novation

The act of replacing an old contract with a new one, where a different party assumes the obligations or benefits of the original party.

Equitable Remedy

A non-monetary court order to take or refrain from taking specific actions, granted when money damages are insufficient.