Business Chapters

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Title: Business Chapters

Essay Details:

Subject: Business

Author: Emanuel H

Date: March 16, 2017

Level: University

Grade: A

Length: 5 / 1461

Essay text:

The way this works is that when the business's debts exceed its assets or is unable to pay, the business can file a petition with the bankruptcy court. This called filing for voluntary bankruptcy. If a business does not file for bankruptcy the unpaid creditors can file an "involuntary" petition to force the business into bankruptcy (www.law.com). It is better and most common for businesses for file voluntary bankruptcy (www.law.com). There are three types of petitions: Chapter 7, Chapter 11 and Chapter 13 (www.law.com). The most popular is for business to petition is under Chapter 7 (www.law...

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