In a type of bankruptcy called , the debtor repays part or all of the unsecured debt over 3 to 5 years.
BMGT 110: Chapters 5 and 6 I’m going to jump right in, no intro just information. Basic Forms of Business Ownerships - Three main types… - Sole Proprietorship- a business that is owned and managed by one person, this is the most common form of ownership - Partnership- when two or more people legally agree to become co-owners of a business - Corporation- a legal entity to with authority to act and have liability apart from its owner - Example: Nadia wants to open up a bakery. She could go to the bank and get a loan and start it. That would be sole proprietorship. But maybe that’s two stressful so she asks her best friend Tina to open it with her. That would a partnership. Or maybe she sets up a complex bakery packaging cooperation in wh