Recording artists and Hollywood actors have used bankruptcy as a means of being relieved of contract obligations.

Question

Quizplus · Accepted Answer

It is true that some recording artists and Hollywood actors have used bankruptcy to be relieved of contract obligations. Bankruptcy allows them to renegotiate or terminate contracts and start fresh with a clean slate. However, this is not a common or recommended practice as it may damage their reputation and credibility.

Recording Artists and Hollywood Actors Have Used Bankruptcy as a Means