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LSDefine

Simple English definitions for legal terms

contemplation of insolvency

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A quick definition of contemplation of insolvency:

Term: Contemplation of Insolvency

Definition: When a person or a company is thinking about the possibility of not being able to pay their debts, it is called contemplation of insolvency. This is also known as contemplation of bankruptcy.

A more thorough explanation:

Contemplation of Insolvency

Contemplation of insolvency refers to the state of considering or anticipating the possibility of being unable to pay debts as they become due. It is a legal term that is often used interchangeably with contemplation of bankruptcy.

For example, a business owner who is struggling to pay their bills and is considering filing for bankruptcy may be said to be in contemplation of insolvency. Similarly, an individual who is unable to keep up with their mortgage payments and is considering debt consolidation or bankruptcy may also be said to be in contemplation of insolvency.

Another example could be a company that is experiencing financial difficulties and is considering restructuring or liquidation as a way to address its debts. In this case, the company may be said to be in contemplation of insolvency.

Contemplation of insolvency is a legal term that describes the state of considering or anticipating the possibility of being unable to pay debts as they become due. It is often used interchangeably with contemplation of bankruptcy, which refers specifically to the process of filing for bankruptcy. The examples provided illustrate how individuals and businesses may find themselves in contemplation of insolvency when they are struggling to pay their debts and are considering various options to address their financial difficulties.

contemn | contemporanea expositio

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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