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Simple English definitions for legal terms

act of bankruptcy

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A quick definition of act of bankruptcy:

Act of bankruptcy: An action or event that can lead to a person or business being forced into bankruptcy. This can include things like fraudulently giving away property or assets. In the past, an act of bankruptcy was required to start a bankruptcy case, but this is no longer the case under current bankruptcy laws.

A more thorough explanation:

Definition: An act of bankruptcy is an event that triggers an involuntary bankruptcy proceeding against a debtor. This can include fraudulent conveyance of property, failure to pay debts, or other actions that indicate the debtor is unable to pay their debts.

Example: If a debtor sells their property to a family member for far less than its market value in an attempt to hide assets from creditors, this could be considered an act of bankruptcy. The sale is fraudulent and indicates that the debtor is not acting in good faith to pay their debts.

Explanation: An act of bankruptcy is a serious matter that can lead to involuntary bankruptcy proceedings against a debtor. This means that creditors can force the debtor into bankruptcy, even if they do not want to file for bankruptcy themselves. The examples illustrate how certain actions by a debtor can trigger an involuntary bankruptcy proceeding and the consequences that can result from these actions.

act of attainder | act of commission

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babycat
13:22
we have one local rep who didn’t get reelected bc she went on a podcast and said some crazy shit about jewish people
insane
13:22
@HopefullyInLawSchool: that is so unfair its insane that people have to go through that
theres a student that is literally having a baby and the admin denied her request for a test extension, and told her to come in the day after she gave birth to take the exam w her baby
come in the DAY AFTER SHE GIVES BIRTH
W HER BABY
13:23
saw that, crazy that she cant just hold the fucker in for a day longer
LMFAO
babycat
13:23
gulc going to hell I’m so serious
glovediedthisishismom
13:24
thats definetly horsey on an alt
glovediedthisishismom
13:24
no way any professor did that
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
13:28
real ones shop at YMH
triplethread
13:28
i missed another fordham wave
triplethread
13:28
mamas getting denied
JumpySubsequentDolphin
13:29
the bergdorf on 5th Ave in NYC is so
JumpySubsequentDolphin
13:29
it feels like home
Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
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