Exam (elaborations)
BUL 4310 CH16 Quiz (1).
- Course
- MKTG 3832 Two: 6-9
- Institution
- MKTG 3832 Two: 6-9
BUL 4310 CH16 Quiz (1).
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BUL 4310 CH16 QuizNancy joins with other creditors to force Odette, a debtor, into bankruptcy. One of the
goals of bankruptcy law with respect to creditors is to - ANS-ensure equitable treatment
of creditors who are competing for a debtor's assets
Liens generally take priority over other claims against the same property. - ANS-True
An individual debtor cannot exempt or exclude any property from the bankruptcy -
ANS-False
Jordan is a surety for Kelly's loan from Lenders Credit Corporation. When the loan
comes due, Kelly tries to pay Lenders Credit, but the creditor rejects the payment.
Jordan is - ANS-released from any obligation on the debt
Dorothy files a petition for bankruptcy in bankruptcy for relief through an individual's
repayment plan. If she is granted a discharge, debts that will most likely be discharged
include - ANS-credit-card debt incurred more than one year before filing
Generally, in a Chapter 11 case, no orders affecting the estate will be entered without
the consent of the creditors' committee or after a hearing in which the judge is informed
of the committee's position - ANS-True
Gerald files a petition in bankruptcy. An automatic stay will apply to actions by creditors
seeking to collect Gerald's debts comprised of - ANS-car payments
George borrows funds from Hometown Credit Union (HCU) to buy real property. George
signs a written instrument that gives HCU an interest in the property as security for the
debt's payment. This is - ANS-a mortgage
The clerk of a bankruptcy court must provide consumer-debtors with information on the
types of services available from credit counseling agencies. - ANS-True
Michael is a mechanic who did work on Jill's car, it will end - ANS-when Michael
voluntarily surrenders possession of the car
With a mechanic's lien, real estate becomes security for a debt - ANS-True
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