La Comida

Saint George
International school
of
Panama




Subject: Accounting III.



Title:
Trade in Bankruptcy.



Name: Mario Alex Yau.



Year: V- John Vincent Atanasoff.



Facilitator: Edmundo Botello.



Date: 25/10/11.
















Index


PagI-Introduction..................................................................................1

II-Selection area of investigation....................................................2

III-Definition and description of the problem.................................3

IV-Data collection........................................................................4-5V-Hypothesis...................................................................................6

VI-Hypothesis argumentation..........................................................6

VII-Conclusion................................................................................7

VIII-Recommendation.....................................................................7IX-Bibliography.............................................................................8

X-Evaluation sheet.........................................................................9























Introduction


- In this formal investigation I will be talking about Trades in Bankryptcy.
Bankruptcy is one way of dealing with debts you cannot pay. The bankruptcy proceedings:
• free you fromoverwhelming debts so you can make a fresh start, subject to some restrictions; and
• make sure your assets are shared out fairly among your creditors.
Anyone can go bankrupt, including individual members of a partnership. There are different insolvency procedures for dealing with companies and for partnerships themselves.
When a debtor faces the prospect of losing a large deal of theirproperty to their creditors during a bankruptcy, some initial concerns may be raised. Especially in the situation of small business owners, manual laborers, and machine-dependent farmers, having to forfeit certain pieces of property would essentially destroy a debtor's ability to rebuild their life financially. However, in order to protect workers from these sorts of situations, many jurisdictions haveenacted a special bankruptcy law that protects what are known as tools of the trade.























Selection area
of
investigation



-Subject: Accounting III.

-Title: Trade in Bankruptcy.





































Definition and
Description of the problem




1- Can I still trade in bankruptcy?Data
Collection
Trade in Bankruptcy

When a debtor faces the prospect of losing a large deal of their property to their creditors during a bankruptcy, some initial concerns may be raised. Especially in the situation of small business owners, manual laborers, and machine-dependent farmers, having to forfeit certain piecesof property would essentially destroy a debtor's ability to rebuild their life financially. However, in order to protect workers from these sorts of situations, many jurisdictions have enacted a special bankruptcy law that protects what are known as tools of the trade.

Even though the details of the law may differ between states, tools of the trade statutes provide the same basic requirementsfor debtors. Generally speaking, a property must be considered necessary for the debtor's business in order to be considered exempt from the bankruptcy process. One commonly cited example is that of a car used to commute to work every day. While the car is used regularly to get to work, it is not essential to complete the work itself. Additionally, a driver may be able to use public transportation...