Carbozo was an officer of a corporation in the business of

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Carbozo was an officer of a corporation in the business of selling hospital supplies. Due to stiff competition, the corporation went bankrupt. Carbozo contracted with Hoover Corporation to purchase hospital supplies for it on commission. In order to reestablish relations with suppliers of hospital supplies that Carbozo had known in his previous capacity and to solidify his credit standing, Carbozo decided to pay certain debts of the former corporation that went bankrupt. Which of the following statements is true concerning these payments?

Reference no: EM13590503

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