How your business will protect itself from discharge of debt

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Reference no: EM131194752

In the case Murphy Oil V Armstrong, Armstrong was the guarantor on a contract signed between Murphy Oil and Price Oil. Murphy provided oil in the amount of $259,585.75 to Price. Price did not pay this and filed bankruptcy. In the bankruptcy proceedings Murphy received $66,246.28. Murphy filed a suit against Armstrong for the unpaid balance. Determine how your business will protect itself from a discharge of debt like this. Please identify the issues and provide an arguments for both sides of the issue.

Reference no: EM131194752

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