Reference no: EM132943392

Problem 1: What is a cramdown provision?

a. Confirmation of the reorganization plan by the court over the objections of a class of debtors

b. Confirmation of the reorganization plan by the court over the objections of a class of creditors

c. Confirmation of the reorganization plan by the court over the objections of the debtor

d. Confirmation of the reorganization plan by the court over the objections of the trustee

Problem 2: Partners 1, 2, and 3 execute a partnership agreement, contributing 51%, 39%, and 10% respectively. The agreement is silent on voting between the partners. Under the uniform partnership act (UPA), how will these partners' votes be counted?

a. Partner 1's vote will count five times as much as partner 3

b. Partners 2 and 3 cannot outvote partner 1 because their cumulative interests are less than 50%

c. Partners 1,2, and 3 will only have one vote

d. Partner 3 will not be able to vote because he lacks a 25% interest

Problem 3: Which fiduciary duty is exercised when a partner refrains from intentional misconduct?

a. Duty of disclosure

b. Duty of obedience

c. Duty of care

d. Duty of loyalty