/fɪˈnænʃəl ˌsɪtʃuˈeɪʃən/ – Phrase
Definition: tình hình tài chính.
A more thorough explanation: The legal English definition of the term “financial situation” refers to the overall condition or state of an individual’s or entity’s financial affairs, including their assets, liabilities, income, expenses, and overall financial health. It encompasses the financial resources available to meet financial obligations and achieve financial goals.
Example: The court considered the defendant’s financial situation when determining the appropriate level of restitution to be paid.