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act of bankruptcy meaning

  "act of bankruptcy" in a sentence
  • [Business]
    noun [C]

    (Law )

    something that you do that shows you are bankrupt (= that you do not have enough money to pay your debts):

    Mr Dennis committed an act of bankruptcy by failing to comply with the requirements of a bankruptcy notice.

Examples

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  1. available act of bankruptcy
  2. If a person commits an act of bankruptcy, then a creditor can apply to the judgment debt.
  3. They then fell out, and ultimately Hawes, by an act of bankruptcy, forced a dissolution of the partnership, and the concern then remained in the hands of Welsh alone.
  4. With the removal of the concept of " acts of bankruptcy ", the creditor simply applies to the court for a trustee to be appointed if a demand served to an individual remained unsatisfied.
  5. A law was thereafter enacted, which declared that no commission grounded on this act of bankruptcy was to be  deemed invalid by reason of such declaration having been concerted or agreed upon between the bankrupt and any creditor or other person .  ( Bankrupts ( England ) Act 1825, sections VI and VII ).

Related Words

  1. act high-and-mighty meaning
  2. act in earnest meaning
  3. act involuntarily meaning
  4. act like a cold fish meaning
  5. act like oneself again meaning
  6. act of contrition meaning
  7. act of faith meaning
  8. act of god meaning
  9. act of god bond meaning
  10. act of grace meaning
PC Version