finance

Chapter 11 Bankruptcy

When a company can no longer pay its debts, it generally creates a relationship between two stakeholders–the debtor and creditors. The debtor seeks relief from the debt it cannot repay, while the creditors seek to recollect their debts, quickly and...

Chapter 13 Bankruptcy

In general, insolvent individuals have the choice of either a chapter 7 or chapter 13 bankruptcy, each governed by the United States Bankruptcy Code. Chapter 13 of the Bankruptcy Code is titled "Adjustment of Debts of an Individual With Regular...

Chapter 13 plan

Chapter 13 of the United States Bankrupcty Code allows individuals with regular income to develop a plan to repay some or all of their debts. Debtors are required under this chapter to propose a repayment plan to make installment payments from the...

Chapter 7 Bankruptcy

When a debtor becomes insolvent and the bankruptcy proceeding begins, the debtor will either liquidate its assets or reorganize its debts. The liquidation route is governed by Chapter 7 of the Bankruptcy Code.

In a liquidation, the assets of...

Charity

A charity is a nonprofit organization whose efforts are focused on aiding those in need. This can take several forms, which can be local or international in scope. Some raise money or provide services like food, clothing, or shelter to...

Chart of Accounts

A list of all the ledger accounts used by a business and serves as an index to locate any particular account within the ledger.

Chattel Mortgage

An antiquated term for a mortgage on personal goods (as opposed to real estate) where the lender holds an interest in the property as security for the loan. Today these arrangements are referred to as "security agreements".

Chattel Paper

In secured transactions, a document used to sell property on credit while retaining some interest in the property. Chattel paper must show: (1) a monetary obligation from Party A to Party B, and (2) a security interest or other interest retained in...

Check

Definition from Nolo’s Plain-English Law DictionaryA draft upon a particular account in a bank, in which the drawer or maker (the person who has the account and signs the check) directs the bank to pay a certain amount to the payee. (See also: negotiable...

Check-flashing

Definition

See kiting.

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