Examlex
In an investment company, the invested funds belong to many individuals.
Financing Statement
A document filed to give public notice of a secured party’s interest in the debtor’s personal property, usually in connection with a secured transaction.
Bankruptcy
The legal status of a person or entity that cannot repay the debts they owe to creditors, leading to a legal process for resolution.
Sole Proprietorship
The simplest form of business organization, in which the owner is the business. The owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business.
Repayment Plan
An arrangement made to pay back a loan or debt in installments over a specified period.
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