OF TERMS - PAGE 8
— Person who promises to repay a debt incurred by another (also
referred to as co-maker or co-signer).
— The inability to pay debts as they fall due in the usual
course of business or the inability of the debtor to pay current
obligations as they become due. There is no requirement of
insolvency in the Bankruptcy Code.
— A formal question or a series of questions that are proposed
in writing by one party of an action to another. The answers can
be used later in court for various reasons. This is a form of
discovery used by attorneys when investigating a case. Sanctions
can be levied for willfully refusing to respond timely to
Involuntary Chapter 7
— Liquidation bankruptcy that is forced by creditors.
— A debtor filing bankruptcy together with a spouse.