Insolvency law (1)

The concept of insolvency is very close to the concept of bankruptcy and the terms are used interchangeably in the media and in common usage. In legal English, in some jurisdictions, such as the United States, bankruptcy relates to a company or individual. In other jurisdictions, such as the United Kingdom, bankruptcy relates only to individuals and partnerships; companies go into insolvent liquidation. In informal speech and in the media, however, the term bankruptcy is used for companies as well. This quiz tests your knowledge of the language of insolvency law.

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