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Today's Terms
Liquidation value
Definition:
The aggregate value of a business if its assets are sold piecemeal.
Disclosure statement
Definition:
A comprehensive disclosure document sent to creditors when they are asked to vote on a plan of reorganization in Chapter 11.
Repo Laws Repossess
Definition:
The repo laws: If you don't make your car payments for a number of months, your lender may repo or repossess your car. Without a car you may not be able to get to work.
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