Surety is liable to the creditor as soon as principal

Assignment Help Operation Management

Reference no: EM132230801

1. A surety is liable to the creditor as soon as the principal ________.

A) Enters into the contract.

B) Makes an initial payment.

C) Defaults.

D) Files for bankruptcy.

2. Creditors may petition the bankruptcy court to convert a Chapter _________bankruptcy in to a Chapter __________bankruptcy.

A) 7 into 13

B) 11 into 7

C) 11 into 13

D) 13 into 11

3. In an adjustment of debts under Chapter 13, the rights of ____________may not be modified

A) Secured creditors

B) Unsecured creditors

C) Mortgagees

D) Judicial lien holders

4. An ______ is entered by the bankruptcy judge when he or she finds that the debtor is entitled to the protection of the bankruptcy law.

A) Order of default.

B) Notice of removal.

C) Order of relief.

D) Judgment.

5. In a bankruptcy proceeding, creditors' claims are subject to payment according to the _______ established by the bankruptcy law.

A) Discretion.

B) Size or amount of the debt.

C) Priority.

D) Greatest need for payment.

Reference no: EM132230801

Questions Cloud

Competitive strategy-corporate strategy-business strategy : How does this article relate to strategies - Competitive Strategy, Corporate Strategy, Business Strategy, Functional Strategy and Operating Strategy

What industry uses each specific numbering standard : What does each stand for? What is the purpose of each? What industry uses each specific numbering standard?

A surety is liable to the creditor as soon as the principal : Rod and Todd have joint-several liability as sureties on loan made to Rod's business by First Bank. A surety is liable to the creditor as soon as principal.

Transformation advertising be used to justify higher price : Can “transformation advertising” be used to justify a higher price?

Surety is liable to the creditor as soon as principal : A surety is liable to the creditor as soon as the principal ________.

Explain the concept of transferable water permits : Explain the concept of transferable water permits (TWP) as means of managing the allocation of water in a river in which demand for water is greater than supply

Property acquired in the future by the debtor : A _________ is created when a security agreement describes the collateral as including property acquired in the future by the debtor.

Some real world examples of successful entrepreneurs : How may entrepreneurs identify new business opportunities? Please explain and provide some real world examples of successful entrepreneurs.

The cost leadership generic strategy : What is one risk associated with the Cost Leadership generic strategy?

User Account

All Pages