Chapter 20

Question 1

Defense? Discharge of the debtor’s obligation in bankruptcy.

Answer 1

Not a defense

Question 2

Defense? The surety performed the contract by performing the debtor’s promise.

Answer 2

Defense

Question 3

Defense? An insolvent debtor induced the creditor and surety to enter in to a contract.

Answer 3

Not a defense

Question 4

Defense? The debtor’s incapacity due to infancy or mental incompetence.

Answer 4

Not a defense

Question 5

Defense? The creditor procured the surety’s promise by means of fraud or duress.

Answer 5

Defense

Question 6

The party liable to the creditor immediately upon the debt’s maturity

Answer 6

Absolute surety

Question 7

Promise to undertake a surety obligation for consideration.

Answer 7

Bond

Question 8

Chapter 7,11,13 eligible? Banks

Answer 8

Ineligible, Ineligible, Ineligible

Question 9

Chapter 7,11,13 eligible? Corporations

Answer 9

Eligible, Eligible, Ineligible

Question 10

Chapter 7,11,13 eligible? Credit Unions

Answer 10

Ineligible, Ineligible, Ineligible

Question 11

Chapter 7,11,13 eligible? Individual who don’t pass the means test

Answer 11

Ineligible, Ineligible, Eligible

Question 12

Chapter 7,11,13 eligible? Insurance companies

Answer 12

Ineligible, Ineligible, Ineligible

Question 13

Chapter 7,11,13 eligible? Municipalities

Answer 13

Ineligible, Ineligible, Ineligible

Question 14

Chapter 7,11,13 eligible? Partnerships

Answer 14

Eligible, Eligible, Ineligible

Question 15

Chapter 7,11,13 eligible? Railroads

Answer 15

Ineligible, Eligible, Ineligible