Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Reaffirmation
n. 1. Approval of something previously decided or agreed to; renewal <the Supreme Court's reaffirmation of this principle is long overdue>. 2. Bankruptcy. An agreement between the debtor and a creditor by which the debtor promises to repay a prepetition debt that would otherwise be discharged at the conclusion of the bankruptcy <the debtor negotiated a reaffirmation so that he could keep the collateral>. ( There are two main requirements for a reaffirmation to be enforceable: (1)the agreement must contain a clear and conspicuous provision stating that the debtor may rescind the reaffirmation agreement anytime before discharge or within 60 days after the agreement is filed with the court; and (2) for a debtor who is not represented by counsel, the court must determine that the reaffirmation is in the debtor's best interest and does not impose an undue hardship. 11 USCA ยง 524(c). -Also termed (in sense 2) reaffirmation agreement. - reaffirm, ub.
reaffirmation hearing
Bankruptcy. A hearing at which the debtor and a creditor present a. reaffirmation of a dischargeable debt for the court's approval. ( The reaffirmation hearing is usu. held simultaneously with the discharge hearing. See DISCHARGE HEARING.