bankrupting

Meanings

• Verb

  The act of declaring oneself or making an entity (as a business or government) unable to meet its debt obligations.

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Variants

List of all variants of bankrupting that leads to same result
bankrupt , bankrupted , bankrupting , bankrupts

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Etymology

origin and the way in which meanings have changed throughout history.

From Old French banc ruisseau 'broken bank' (a bank that has run out of money).

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first recorded use of the term 'bankrupt' was in Venice, Italy, in 1401.

2. The largest bankruptcy in history was the bankruptcy of the Soviet Union in 1991.

3. Bankruptcy filings in the United States increased significantly during the 2008 financial crisis.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Insolvency: Insolvency refers to the inability to pay debts as they come due, which is a broader concept than bankruptcy. Bankruptcy is a legal process that allows an insolvent entity to reorganize or liquidate its debts under the protection of the law.

2. Debt: Bankruptcy is closely related to the concept of debt, which is an obligation to pay a certain amount of money or provide a good or service in exchange for something of value. Debts can be personal, business, or governmental in nature.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Bankruptcy is a significant cultural and historical concept that has been explored in literature, art, and music. For example, in Fyodor Dostoevsky's 'Crime and Punishment,' the protagonist Raskolnikov contemplates bankruptcy as a means of escape from his debts and the consequences of his actions.

How to Memorize "bankrupting"

1. visualize
   

   - Visualize a bank that has run out of money and is unable to meet its obligations to depositors or creditors.

2. associate
   

   - Associate the word 'bankruptcy' with the idea of financial failure and the inability to pay debts.

3. mnemonics
   

   - Remember the acronym BROKE: Budget, Reduce, Organize, Know, and Evaluate to help memorize the concept of bankruptcy.

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