Mod 30 Wrong Answers Flashcards Preview

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Flashcards in Mod 30 Wrong Answers Deck (16)
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1
Q

Preferential transfers are payments made for antecedent debts which enable…

A

Enable the creditor to receiver more than he would under Ch. 7 liquidation

2
Q

A contemporaneous exchange between a creditor and the debtor, whereby the debtor receives new value is…

A

Not a preferential transfer

3
Q

Prepaying an existing installment loan on inventory is…

A

Making a payment on an antecedent debt

4
Q

Prepaying an existing installment loan on inventory is making a payment on an antecedent debt which enables the creditor to…

A

Receive more than he would in a liquidation proceeding

5
Q

An intentional tort and liability for injuries would…

A

Not be discharged in bankruptcy

6
Q

An intentional tort and liability for injuries would not be discharged in bankruptcy, however this…

A

Does not bar general discharge of debts

7
Q

Preferential transfers can be set aside, this would…

A

Not prevent the discharge in bankruptcy

8
Q

Corporations and partnerships cannot…

A

Cannot receive a discharge under Ch. 7 Federal Bankruptcy Code

9
Q

Actions that bar a general discharge in bankruptcy include…2

A

1 Removing or destroying property within 12 months

2 prior to filing the petition with intent to hinder, delay or defraud creditors

10
Q

Making a false entry in a document related to bankruptcy affairs…

A

Bars general discharge in bankruptcy

11
Q

Obtaining credit by fraud involving the debtor’s financial condition causes…

A

That debt to be non dischargeable

12
Q

Obtaining credit by fraud involving the debtor’s financial condition does not…

A

Does not prevent a general discharge of all debts

13
Q

The Ch. 11 bankruptcy petition may either be…2

A

1 Filed voluntarily by the debtor

2 or filed by creditors to force debtor into bankruptcy

14
Q

Under Chapter 11, the debtor need not…

A

Be insolvent to file a voluntary bankruptcy petition

15
Q

Under Ch. 13 bankruptcy, in general individuals need to…

A

Have regular income

16
Q

Preferential transfers are…

A

Payments made for antecedent debts

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