Voluntary arrangement to restructure a firm's debt, under which payment is reduced. The New York Times Financial Glossary

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composition com‧po‧si‧tion [ˌkɒmpəˈzɪʆn ǁ ˌkɑːm-] noun [countable usually singular]
LAW an arrangement between a person or organization that owes money and the people or organizations the money is owed to concerning the way in which the debts should be repaid:

• The debtor may then make a composition with his creditors, but if this is not done he will be made bankrupt.

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composition UK US /ˌkɒmpəˈzɪʃən/ noun
[U] the way in which the parts of something are arranged: the composition of sth »

The company said it plans to change the composition of its board of directors, creating a board composed predominantly of independent directors.

[U] PRODUCTION a manufactured material made of more than one substance: »

Composition tiles have replaced asbestos tiles in public buildings.

[C, usually singular] LAW an agreement in which someone who owes money pays less than is owed, in order to settle the debt more quickly: make a composition with sb »

If a person has at any time been made bankrupt or has made a composition with creditors, he is disqualified from being appointed as a trustee of the charity.

Financial and business terms. 2012.


Look at other dictionaries:

  • composition — [ kɔ̃pozisjɔ̃ ] n. f. • XIIe au sens I; de composer I ♦ Action de composer. 1 ♦ (1365) Action, manière de former un tout en assemblant plusieurs parties, plusieurs éléments. ⇒ agencement, arrangement, assemblage, combinaison, constitution,… …   Encyclopédie Universelle

  • composition — COMPOSITION. s. fém. Action de composer quelque chose. Être occupé à la composition d une machine, d unouvrage. f♛/b] Il se prend aussi pour l Ouvrage même qui résulte de cette action de composer, pour l assemblage de plusieurs parties qui ne… …   Dictionnaire de l'Académie Française 1798

  • composition — Composition. s. f. v. Assemblage de plusieurs parties. La composition de l Univers. la composition d une machine. les ressorts qui entrent dans la composition d une machine, toutes les parties qui entrent dans la composition du corps humain.… …   Dictionnaire de l'Académie française

  • Composition — Com po*si tion, n. [F. composition, fr. L. compositio. See {Composite}.] 1. The act or art of composing, or forming a whole or integral, by placing together and uniting different things, parts, or ingredients. In specific uses: (a) The invention… …   The Collaborative International Dictionary of English

  • Composition — may refer to: Composition (logical fallacy), in which one assumes that a whole has a property solely because its various parts have that property Compounding is also known as composition in linguistic literature in computer science Object… …   Wikipedia

  • composition — @ composition deed An agreement embodying the terms of a composition between a debtor and his creditors @ composition of matter In patent law, a substance composed of two or more different substances, without regard to form. A mixture or chemical …   Black's law dictionary

  • Composition No. 1 — Studio album by LA Symphony Released 1999/2003 …   Wikipedia

  • Composition — steht für Programme Composition Manager Computerprogramm, Porter Duff Composition Begriff aus der Computergrafik. Distributed Feature Composition (DFC) Architektur zur Beschreibung und Implementierung von Telekommunikationsdiensten Gemische… …   Deutsch Wikipedia

  • composition — com·po·si·tion n: an agreement between an insolvent debtor and several creditors whereby partial payment of the debts discharges in full the original obligations compare accord, compromise Merriam Webster’s Dictionary of Law. Merriam Webster.… …   Law dictionary

  • Composition B — Composition B, colloquially comp B , is an explosive consisting of castable mixtures of RDX and TNT. It is used as the main explosive filling in artillery projectiles, rockets, land mines, hand grenades, sticky bombs and various other… …   Wikipedia

  • Composition B — (рус. композиция B, сокр. «comp B»)  взрывчатое вещество, представляющее собой текучую смесь гексогена (RDX) и тринитротолуола (TNT). Используется в артиллерии для снаряжения снарядов, ракет, мин, гранат и некоторых других боеприпасов[1].… …   Википедия

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