Examlex
Explain the process that exempts members of an LLC (limited liability company)from double taxation.
Mortgage
A secured loan where property or real estate is used as collateral, with the borrower agreeing to pay back the loan with a predetermined set of payments.
Bankruptcy Petition
A legal document filed by an individual or corporation declaring inability to repay debts, thus seeking relief through bankruptcy court.
Liquidated
The process of converting assets into cash or paying off liabilities in the winding up of a business or partnership.
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