Asked by Jamila Mohammed on Jun 08, 2024
Verified
An individual whose debts are primarily consumer debts is known as a
A) purchaser-debtor.
B) consumer-debtor.
C) common-debtor.
D) bankrupt-debtor.
Consumer-Debtor
An individual who owes money or is in debt as a result of purchasing goods or services for personal, family, or household purposes.
- Catalogue the forms of fiscal liabilities and realties associated with bankruptcy legal proceedings.
- Comprehend the ramifications and effects of insolvency proceedings on persons and corporate bodies.
Verified Answer
JT
JOO-Thanissara ThanavatikJun 13, 2024
Final Answer :
B
Explanation :
A consumer-debtor is an individual whose debts are primarily incurred for personal, family, or household purposes, distinguishing them from debts incurred for business or commercial purposes.
Learning Objectives
- Catalogue the forms of fiscal liabilities and realties associated with bankruptcy legal proceedings.
- Comprehend the ramifications and effects of insolvency proceedings on persons and corporate bodies.
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