A nonstatutory option in which a venture simply ceases operations without paying creditors is called

Name: A nonstatutory option in which a venture simply ceases operations without paying creditors is called
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Question

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A "lights-out option" refers to a scenario where a venture simply stops its operations without settling its debts with creditors. This term metaphorically suggests shutting off the lights and walking away, indicating an abrupt end to business activities.

A Nonstatutory Option in Which a Venture Simply Ceases Operations