ACCOUNTS RECEIVABLE RESERVE Definition

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ACCOUNTS RECEIVABLE RESERVE is a reserve against bad debt. See also RESERVE and RESERVE ACCOUNTS.

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RECEIVERSHIP is equitable remedy whereby a court orders property placed under the control of a RECEIVER so that it may be preserved for the benefit of affected parties. A failing company may be placed in receivership in an action brought by its creditors. The business is often continued but is subject to the receivers control. See also BANKRUPTCY.

NEW DEBTOR is an entity that becomes bound as debtor by a security agreement previously entered into by another entity.

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