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5 Written Questions

5 Matching Questions

  1. chapter 13
  2. respite
  3. per se
  4. officers of the corporation
  5. peremptory
  1. a The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income, often referred to as a "wage-earner" plan. Chapter 13 allows a debtor to keep property and use his or her disposable income to pay debts over time, usually three to five years.
  2. b handle the day-to-day operation of the corporation; CEO, CFO, treasurer, bookeeper
  3. c in and of itself
  4. d a temporary delay, an intermission, suspension
  5. e final, decisive

5 Multiple Choice Questions

  1. informer
  2. as much as the goods were worth
  3. a small parcel of land, a map, or chart
  4. head or father of the family
  5. lender; they don't own part of the company

5 True/False Questions

  1. chapter 7This is a liquidation bankruptcy, which means that the trustee sells off all non-exempt assets held by the debtor so that the debts can be repaid to the fullest extent possible. Anything that cannot be paid after liquidation is discharged


  2. recognizancean obligation entered before the court to do some particular act, an obligation to appear in court


  3. prerogative"things done"; this rule allows spontaneous remarks to be admitted into evidence although they would normally be considered hearsay


  4. ripeready for judgment


  5. chapter 11an agreement; contract


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