Examlex
All the following are important features of a personal computer database software program EXCEPT the ability to
Debtor's Obligation
The responsibility or duty of a debtor to pay back a debt or fulfill a contractual commitment.
Avoidance Powers
Legal powers granted to bankruptcy trustees or debtors in possession to invalidate certain pre-bankruptcy transactions made by the debtor, to protect the bankruptcy estate.
Bankruptcy Trustee
An individual appointed by the court to oversee and administer a debtor's estate in a bankruptcy case, ensuring the fair distribution of assets to creditors.
Mutual Mistake
A legal concept where all parties involved in a contract have a shared misunderstanding about a fundamental fact of the contract.
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