Bankruptcy is the legal form of insolvency,where liabilities are greater than assets.

Name: Bankruptcy is the legal form of insolvency,where liabilities are greater than assets.
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Bankruptcy is a form of insolvency in which a person or business is unable to pay their debts and obligations. This means that their liabilities (debts) are greater than their assets (property, investments, etc.). As a result, bankruptcy allows the person or business to seek relief from their debts through legal means.

Bankruptcy Is the Legal Form of Insolvency,where Liabilities Are Greater