Vocabulary classwork

A public sale of property to whomever offers for highest price.

unable to pay one's debts when they are due

an excess of spending compared to income

a sum or fund to be divided and distributed

a legal procedure that permits a credi institution, such as a bank

• foreclosure

• dividend

• outlay

to lose, to lose the right to, by some error, offense or crime

• forfeit

• pawn

• revenue

the total income produced by a given source

any of the equal portions into which property or invested capital is divided

able to pay all legal debts

• revenue

• solvent

• speculate

practicing economy and good management

• thrifty

• vouch for

• outlay