___________________ Is a Promise of Payment from Customers to Sellers

question 64

Short Answer

___________________ is a promise of payment from customers to sellers.

---

Definitions:

State Bankruptcy Courts

State Bankruptcy Courts are specialized courts within the federal judiciary of the United States that handle bankruptcy filings and related legal proceedings under U.S. bankruptcy laws.

Local Small-claims Courts

Courts that handle minor civil disputes and claims typically involving small amounts of money, allowing parties to argue their cases without the need for lawyers.

Voluntary Petitions

A legal document filed by an individual or business entity declaring their intention to seek relief under bankruptcy laws.

Initiate Chapter 7

The process of starting a Chapter 7 bankruptcy filing, which involves the liquidation of a debtor's assets to pay off debts.