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Describe What a Joint Venture Is

question 71

Essay

Describe what a joint venture is. Identify the two types of joint ventures.


Definitions:

Creditors

Individuals or entities to whom money is owed by a debtor.

The Trustee

An individual or organization appointed to administer the assets of a trust for the benefit of the beneficiaries according to the terms of the trust document.

Automatic Stay

A provision in bankruptcy law that temporarily stops lawsuits, foreclosures, garnishments, and all collection activity against the Debtor the moment a bankruptcy petition is filed.

Creditor Litigation

Legal proceedings initiated by a creditor to collect debts owed by a debtor who has failed to make payments.

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