Asked by sofia carvajal on Apr 23, 2024
Verified
Which of the following terms refers to a debtor being relieved of the obligation to pay debts?
A) Discharged
B) Extinguished
C) Discharged or extinguished
D) Forgotten
Discharged
Released from a contractual obligation or debt; in legal terms, often refers to being released from bankruptcy restrictions or obligations.
- Understand the protections and reliefs offered to debtors under bankruptcy law.
Verified Answer
VC
Vikas Chauhan6 days ago
Final Answer :
C
Explanation :
The terms "discharged" and "extinguished" both refer to a debtor being relieved of the obligation to pay debts. "Discharged" is commonly used in legal contexts, especially in bankruptcy proceedings, while "extinguished" can be used in broader contexts to indicate that a debt is no longer enforceable.
Learning Objectives
- Understand the protections and reliefs offered to debtors under bankruptcy law.
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