Mod 30 Wrong Answers Flashcards
Preferential transfers are payments made for antecedent debts which enable…
Enable the creditor to receiver more than he would under Ch. 7 liquidation
A contemporaneous exchange between a creditor and the debtor, whereby the debtor receives new value is…
Not a preferential transfer
Prepaying an existing installment loan on inventory is…
Making a payment on an antecedent debt
Prepaying an existing installment loan on inventory is making a payment on an antecedent debt which enables the creditor to…
Receive more than he would in a liquidation proceeding
An intentional tort and liability for injuries would…
Not be discharged in bankruptcy
An intentional tort and liability for injuries would not be discharged in bankruptcy, however this…
Does not bar general discharge of debts
Preferential transfers can be set aside, this would…
Not prevent the discharge in bankruptcy
Corporations and partnerships cannot…
Cannot receive a discharge under Ch. 7 Federal Bankruptcy Code
Actions that bar a general discharge in bankruptcy include…2
1 Removing or destroying property within 12 months
2 prior to filing the petition with intent to hinder, delay or defraud creditors
Making a false entry in a document related to bankruptcy affairs…
Bars general discharge in bankruptcy
Obtaining credit by fraud involving the debtor’s financial condition causes…
That debt to be non dischargeable
Obtaining credit by fraud involving the debtor’s financial condition does not…
Does not prevent a general discharge of all debts
The Ch. 11 bankruptcy petition may either be…2
1 Filed voluntarily by the debtor
2 or filed by creditors to force debtor into bankruptcy
Under Chapter 11, the debtor need not…
Be insolvent to file a voluntary bankruptcy petition
Under Ch. 13 bankruptcy, in general individuals need to…
Have regular income
