Business and the Law

Front

Define civil law

Back

Disputes between individuals, organizations, or both.

Front

Define criminal law

Back

Violations of laws that are deemed harmful to society as a whole.

Front

Define burden of proof

Back

Responsibility to prove guilt

Front

Define bankruptcy.

Back

A legal process through which people or businesses seek to relieve their debt.

Front

How many different types of bankruptcies are there available for businesses?

Back

Four

Front

Main objective of Chapter 11 bankruptcy

Back

Reorganization and repayment

Front

Main objective of Chapter 7 bankruptcy

Back

Liquidation

Front

Main objective of Chapter 13 bankruptcy

Back

Reorganization and repayment

Front

Main objective of Chapter 12 bankruptcy

Back

Reorganization and repayment

Front

Who is eligible for Chapter 12 bankruptcy?

Back

Small farming or fishing companies