What is STATEMENT OF AFFAIRS?

1. General. Record of current position, condition or status of a body, project or program. 2. Law. Worst case scenario statement of finances listing assists and liabilities of a body with imminent bankruptcy or who is already bankrupt.

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Related Legal Terms
AFFAIRS, STATEMENT OF SOURCES AND APPLICATION OF FUNDS, PUBLIC AFFAIRS, PRO FORMA STATEMENT, CASH FLOW STATEMENT, FINANCIAL STATEMENT, STATEMENT OF PURPOSE, EXTERNAL STATEMENT, ANNUAL MORTGAGOR STATEMENT, COMPARATIVE FINANCIAL STATEMENT


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