declare bankruptcy

Definition of declare bankruptcy

  1. :  to formally say in a legal document that one is bankrupt Because of high medical expenses, he declared bankruptcy. The company was forced to declare bankruptcy.

Word by Word Definitions

declareplay
  1. :  to make known formally, officially, or explicitly

    :  to make known as a determination

    :  to make clear

bankruptcyplay
  1. :  the quality or state of being bankrupt

    :  utter failure or impoverishment


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