Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “act of bankruptcy”

act of bankruptcy

noun [C]
 
 
LAW an action by someone who owes money that may give people they owe money to a reason to ask a court to say that they are bankrupt (= legally unable to pay what they owe and forced to give up control of their finances): This Agreement may be terminated if the other party commits any act of bankruptcy or has a receiving order made against it.
(Definition of act of bankruptcy from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of act of bankruptcy?
Add Cambridge dictionaries to your browser to your website

Word of the Day

illusion

an idea or belief that is not true

Word of the Day

Lies, lies, lies!

by Kate Woodford,
February 25, 2015
​​​ According to sociologists (=people who study the relationships between people living in groups), we are good at lying. As a species, we have developed a remarkable ability to deceive each other (= persuade each other that something false is true). Being able to say things that are not true can help with

Read More 

showrooming noun

February 23, 2015
the activity of examining a product in a physical store and then making the purchase with an online retailer Amazon’s new smartphone is specifically designed to make showrooming fast and easy.

Read More