Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested or initiated by the bankrupt individual or organisation, or it can be requested by creditors in an effort to recoup a portion of what they are owed. However, in the overwhelming majority of cases, the bankruptcy is initiated by the "bankrupt" individual or organization.

Corporations law or corporate law is the law concerning the creation and regulation of corporations. A corporation is a group of people which are legally treated as a person; the corporation can own property, sign contracts, sue, and be sued. Corporate law refers to the law governing the relationships among shareholders and management.

The codified system of laws that describes government levies on economic transactions, commonly called taxes.

The passage thorough the court of the material wealth of an individual to their heirs.