Assignment 12 - Quiz 3: Business Concerns - Deregulation and Bankruptcy

Chapter 13 bankruptcy

Filing is called a reorganization

Technological advance

Growth through successful scientific research and strength

Price-setting standard

Guidelines for controlling costs and expenditures by the consumer

Secured debt

Obligation to pay to another a certain amount of money which has collateral that the creditor may seize

Liquidation

When the debtor surrenders his nonexempt property for division among his creditors, but will still be obligated to pay any debts that the bankruptcy court determines have not been forgiven by the division among the creditors

Restructuring

Realigning or adjusting to meet new qualifications or needs

Chapter 7 bankruptcy

Straight liquidation

Bankruptcy

The act of being declared legally insolvent

Deregulation

The dropping or relaxing of restrictions and limits

7

The number of utilities California electric customers could choose between after deregulation

Financial obligation

The responsibility to pay debts and due notes

Lien

The right to take, sell, or hold property as security or payment of a debt

Title 11

The section of the U.S. Code which deals with the rules and procedures of Bankruptcy

Proponents

Those that are in support of something

Purposes of deregulation

To offer consumers greater choice, to encourage technological advances, to lower rates

Unsecured debt

A promise or obligation to pay to another a certain amount of money which has no collateral

Mega-merger

A huge union of large corporations or utilities

Hubs

Central points of business

IOU's

Deregulated Investor Owned Utilities

Service

Work done for others