Connection lost
Server error
Behind every great lawyer is an even greater paralegal who knows where everything is.
✨ Enjoy an ad-free experience with LSD+
Legal Definitions - cessio fori
Injustice anywhere is a threat to justice everywhere.
✨ Enjoy an ad-free experience with LSD+
Definition of cessio fori
CESSIO FORI
Cessio fori is a Latin term that means giving up of business or becoming bankrupt.
Example 1: John had to file for cessio fori as he was unable to pay his debts.
Example 2: The company's cessio fori was a result of poor financial management.
Cessio fori is a legal term used to describe the act of giving up business or becoming bankrupt. The examples illustrate how individuals or companies may file for cessio fori when they are unable to pay their debts or manage their finances. This process allows them to legally give up their business and assets to pay off their debts and start anew.
The young man knows the rules, but the old man knows the exceptions.
✨ Enjoy an ad-free experience with LSD+
Simple Definition
Term: CESSIO FORI
Definition: Cessio fori is a Latin term that refers to the act of giving up business or becoming bankrupt.
Simply put, it means that someone who owns a business or has financial obligations cannot meet their obligations and must declare bankruptcy. This is a legal process that involves giving up control of their assets to a trustee who will manage the distribution of those assets to creditors.
Cessio fori is an important concept in business and finance, as it allows individuals and companies to start fresh and rebuild their financial lives after experiencing financial difficulties.
Study hard, for the well is deep, and our brains are shallow.
✨ Enjoy an ad-free experience with LSD+