Mr.Divakar who owed us 50000 became insolvent and paid only 40% of this amount. What is the term used for the amount not received?
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Mr.Divakar who owed us 50000 became insolvent and paid only 40% of this amount. What is the term used for the amount not received?
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Answer:
In this situation Mr. Math is the debtor of the business and he has become insolvent which means that he is bankrupt and unable to pay all his liabilities.