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    • Join Date: Jul 2005
    • Posts: 928
    #1

    remain undischarged

    Hi,

    could you please tell me what the expressions "remain undischarged" and "for relief of" mean in the following sentence:

    The contract may be terminated if either party shall have filed against it a petition in bankruptcy or other similar proceeding under any law for relief of debtors which bankruptcy petition or similar proceeding shall remain undischarged for sixty days.

    Does "remain unchanged" mean, that the petition in bankruptcy will not be rejected?
    Does "law for relief of debtors" mean a law to help debtors?

    Thank you very much.

    Hanka
    Last edited by Hanka; 13-Feb-2007 at 22:39. Reason: change of question


    • Join Date: Feb 2007
    • Posts: 283
    #2

    Re: remain undischarged

    1-relief means to be free from paying their debts to their debtors
    2-undischarged means that after 60 days the debts is payable


    • Join Date: Jul 2005
    • Posts: 928
    #3

    Re: remain undischarged

    But I think that debtors are those who should pay.
    And doesn´t the word "undischarged" refer to the petition?

    Thanks. Hanka

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    #4

    Re: remain undischarged

    I think it means that if someone challenges one of the parties on the grounds of not paying, debt or bankruptcy and the party doesn't respond within the 60 days, then the contract is void. So, if I file against you and you don't sort it out, then the contract is voidable.

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