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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
declareplay
: to make known formally, officially, or explicitly
: to make known as a determination
: to make clear
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bankruptcyplay
: the quality or state of being bankrupt
: utter failure or impoverishment
See the full definition of bankruptcy
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