Wiley Quiz Mods 23-37 Flashcards Preview

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Flashcards in Wiley Quiz Mods 23-37 Deck (10)
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1
Q

The mailbox rule does not apply if…

A

The offer provides than an acceptance shall not be effective

Until actually received

2
Q

A secured party cannot retain collateral if it is…2

A

1 consumer goods and

2 the debtor has paid 60% or more of obligation

3
Q

If collateral is consumer goods and the debtor has paid 60% or more of obligation, the debtor is entitled to…

A

Compulsory disposition of goods

4
Q

UCC rules concerning risk of loss apply if…

A

Intent of parties is manifested in contract

5
Q

The trustee in bankruptcy under Bankruptcy Code, is given the option, subject to court approval to…3

A

1 assume and perform the unexpired lease

2 assume and assign unexpired lease to 3rd party

3 reject unexpired lease

6
Q

In a liquidation case, the trustee must act to assume within…

A

60 days after order for relief is entered

7
Q

In liquidation case, trustee must act to assume within 60 days after order for relief is entered. If not assumed within this time, the lease…

A

Is deemed rejected

8
Q

If not assumed within 60 days, trustee may elect to…

A

Not assume equipment lease

9
Q

Securities Exchange Act of 1934, regulates the trading of securities of issuer companies, including info…

A

Contained in periodic reports (Form 10-Ks)

10
Q

When the drawer has ordered the drawee (bank) to pay a check to the payee, the bank…2

A

1 not obligated to the payee to follow that order

2 bank does not have primary liability unless it accepts (certifies)
The check

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