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