Why Should Bankruptcy Only Be Used as a Last Resort

question 1

Essay

Why should bankruptcy only be used as a last resort?

Discriminate between valid and invalid exculpatory clauses.

Comprehend the legal consequences of unconscionable contracts and clauses.

Identify exceptions to the rule against the enforcement of illegal contracts.

Understand the components and importance of employment contracts, including the provision related to restraint of trade.

---

Definitions:

Vested Interest

A personal stake or involvement in an undertaking or situation, especially one with an expectation of financial or other gain.

Direct Personal Experience

Firsthand encounters or involvement in situations, events, or activities, without intermediaries.

Attitudinal Object

Any subject or entity toward which an individual holds a specific attitude.

Self-awareness

The awareness a person has about their own personality, emotions, intentions, and wishes.