A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.

A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things, the 341 notice will state:

A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:

707(b) action is defined in Chapter 7 of the United States Bankruptcy code as a motion by the court, the United States trustee, the trustee, the administrator, or any party in interest to

Ab initio is a Latin term that means "from the beginning” or “from inception.” Ab initio is used to indicate that some fact existed from the start of a relevant time period. It is often used as part of the phrase “void ab initio,” meaning something – such as a marriage – was void from the beginning.

Ab intestato is a Latin term meaning "by intestacy." The term refers to laws governing the succession of property after the previous owner of the property dies without a valid will.

[Last reviewed in June of 2022 by the Wex Definitions Team]

• Latin terms

AB trust (also called a bypass trust or a credit shelter trust) is a tool often used by well-off married individuals to legally maximize their estate tax exemptions. 

Abandon refers to the act of abandonment. A party can “abandon” in multiple fields of law and abandoning generally, though not always, involves voluntarily giving up a right.

See abandonment for more information. 

[Last reviewed in June of 2022 by the Wex Definitions Team]

Abandonment is a term that applies to a variety of areas of law. These areas include family law, civil procedure, and property. 

The ABC test is used in some states to determine whether a person is an employee or an independent contractor for the purpose of determining state unemployment tax. Some courts using this test look at whether a worker meets three separate criteria to be considered an independent contractor:

• employment law