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Bailiff
"A person who, appointed under law to act or assist any other person to repossess, cease or distrain pursuant to conditions set out in various Acts. "
Bankrupt
A person who has made an assignment or against whom a receiving order has been made or the legal status of that person or corporation.
Bankruptcy
The state of being bankrupt.
Bankruptcy Order (Receiving Order)
"An Order handed down by the Court following the successful petition to have a person or company placed into bankruptcy. In an amendment dated December 15, 2004 this term was changed More…
Beneficiary
"The person who is in receipt, or will be in receipt, of some asset, thing, or thing of value. For example, a person can make a will naming someone, usually their spouse, as More…
Bona Fide
In good faith; genuine; without fraud or deceit.
Book Debts
Accounts receivables owned by a company.
Burn Rate
"The rate at which a company spends its money. Example: if a company had cash reserves of $120m and it was currently spending $10m a month, then you could say that at the current More…
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