assume or reject

assume or reject. Bankruptcy. (Of a debtor-in-possession or a trustee) to make an election under the Bankruptcy Code concerning an executory contract or an unexpired lease within a prescribed period, depending on the chapter of the Code under which the case is proceeding and the subject matter of the contract. • The timing, procedure, and consequences of the election are described in 11 USCA § 365.

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词条贡献者

法律翻译家欣，毕业于德国顶尖的高级翻译学院，专注翻译各类与体育诉讼有关的法律文件。