Running head: BUSINESS 1

Business
Name
Course
University Affiliation
BUSINESS 2

Question one
Bankruptcy refers to the condition whereby an individual or a business organization is

declared by the law that he or she is unable to meet or make a payment of the outstanding debts.

The individual or organization is declared insolvent by a court upon his or her petition or the

petition of his or her creditors. Actually, the bible does not forbid Carl from going to court to file

for bankruptcy. Instead, it advocates for an alternative which is settling matters out of the court.
According to the book of 1st Corinthians 6:1-8, the bible is quick to pinpoint that

whenever an individual has an issue against another Christian, it is important to come into an

agreement with the other Christian and settle down the issue instead of taking the issue to a

secular court.
Furthermore, in proverbs 17:14, the bible forbids Christians from initiating a quarrel.

Instead it requests them to drop the issue before it results into a dispute. As a matter of fact, the

bible suggests that there are other ways in which conflicts can be solved amicably without

quarreling at each other. In relation to Carl’s issue, the bible forbids him from signing for

bankruptcy. Instead, the bible encourages him to try out other way in which he can solve the

issue. In Mathew 5:22-26, the bible forbids an individual from being vengeful during times of

hunger. As such, the individual is expected to have self-control and be in a position of

reconciling with those who he or she was in conflict with. In this regard, it is important for Carl

to come into a reconciliation agreement with his debtors before going to court to file for

bankruptcy.
All said and done, the available bible verses are quick to suggest on other ways of solving

the financial crisis that Carl is facing by suggestion several solutions such as reconciliation and

arbitration between Carl and his debtors. Moreover, the bible stipulates that Carl should be

committed to pay the debt whenever an agreement is reached (Mathew 5:22-26 New

International Version).
Question two
BUSINESS 3

According to the bible, it does not forbid an individual from borrowing. However, it is

important that if one decides to borrow, he or she should be committed to the terms or agreement

that he or she had set with the lender. As a matter of fact in the book of Psalms 37:21, the bible

condemns a person who borrows and fails to repay back (Psalms 37:21 New International

Version). Furthermore, it encourages individuals to be generous givers. Most importantly

according to the bible, we are all created in the image and likeness of God. In this regard, it is

important for us to follow His teaching like in the book of Ecclesiastes 5:4-5 where it is crystal

clear that whenever we make a vow to God, we should never delay in fulfilling it since the lord

has no pleasure in fools (Ecclesiastes 5:4-5 New International Version).

Furthermore, the bible forbids individuals from lying to each other since this will lead

them into revealing their sinful nature and wicked deeds of the past. Additionally, Christians are

advised to put of their old ways that was conformed to falsehood and always speak the truth to

their neighbor. Regarding the issue of borrowing money, Christians should consider all this

teaching before borrowing money from another person. It is permissible to borrow money from

another person when an individual is in need of it. On the other hand, Christians are expected to

be generous and lend freely so as to receive God’s blessings. This is because the bible stipulates

that whoever is showing kindness to the poor lends to the Lord and in the end he or she will be

rewarded (Deuteronomy 15:1-18 New International Version).

Reference
God, H. S. The Holy Bible. Heavenly Published.