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declare bankruptcy

Definition of declare bankruptcy

: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.

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Word by Word Definitions

declare play

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

  2. : to make known as a determination

  3. : to make clear

See the full definition of declare
bankruptcy play

  1. : the quality or state of being bankrupt

  2. : utter failure or impoverishment

See the full definition of bankruptcy

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