Comparison should include
- explaining the major causes of bankruptcy
- failure of the agribusiness
- failure to plan and budget
- illness and/or injury
- evaluating of the terms of bankruptcy and the effect each has on an individual’s financial future
- explaining the advantages and disadvantages of bankruptcy
- assessing the need for legal advice in bankruptcy cases and the implications for personal finance.
Comparison should also include a definition and explanation of the following:
- Bankruptcy
- Chapter 7: Liquidation
- Chapter 13: Repayment Plan
- Chapter 11: Large Reorganization
- Chapter 12: Family Farmers
- Chapter 15: Used in Foreign Cases
- Chapter 9: Municipalities
Process/Skill Questions:
- What are the different types of bankruptcies?
- Why would an agribusiness file for bankruptcy?