Examlex
What is a reaction range? Provide an example to illustrate.
Chapter 7
A section of the U.S. Bankruptcy Code that provides for the liquidation of a debtor's assets to pay off creditors.
Good Faith
An honest intent to act without taking an unfair advantage over another person in a transaction.
Chapter 13
A form of U.S. bankruptcy allowing individuals earning regular income to develop a plan to repay all or part of their debts over time.
Debtor
A party that has a financial obligation or debt to another party, referred to as the creditor, within a commercial transaction.
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