SETTLING NORTH AMERICA 1497 1732
THE SOUTHERN COLONIES SETTLEMENT AND GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A person who owes money but is unable to pay it back
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indentured servant
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slavery
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debtor
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patroon
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Explanation:
Detailed explanation-1: -’A person who is unable to pay his/her debt is called a ‘bankrupt.
Detailed explanation-2: -When a person cannot repay a loan or the money that he has borrowed, he is said to be a ‘bankrupt’. Thus option A is the correct answer. ‘A person who is unable to pay his/her debt is called a ‘bankrupt.
Detailed explanation-3: -A person or firm whose liabilities exceed the value of owned assets is termed as insolvent. It is the inabilities of the company or person to pay liabilities as they become due. Was this answer helpful?
Detailed explanation-4: -When someone owes you money, you are known as a creditor and the person who owes you money is a debtor.
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