Explain what a reaffirmation agreement is and describe the types of information that must be included in such an agreement.
What will be an ideal response?
A reaffirmation agreement is an agreement to allow a debt to survive the bankruptcy discharge. The information includes a description of the original agreement, the amount reaffirmed, the interest rate, the repayment terms, a description of the collateral, and whether the debt being reaffirmed is a purchase-money debt.
You might also like to view...
a. equal dignities rule b. merger clause c. parol evidence rule d. surety e. executor f. material terms g. integrated contract h. Statute of Frauds i. partially integrated contract j. strict construction No oral evidence permitted to vary a contract.
Fill in the blank(s) with the appropriate word(s).
Which part of a letter states (1 ) your purpose for sending the letter, (2 ) what you would like the recipient to do, and (3 ) direct the recipient to call or write if there are any questions?
A) greeting B) body of the letter C) the closing D) the reference line
When a state decides to take several homes through an exercise of eminent domain, the owners
decide to challenge this exercise of discretion in Federal Court. Will the homeowners win? A) no B) yes, because of the Eleventh Amendment C) only if the state has failed to exercise its discretion properly D) yes, because the state abused its discretion
When using the similar facts analysis method, how should the facts of your case match to the facts of the previously decided case?
A) The facts have to be exactly the same. B) The facts will be similar. C) The facts between the two cases have to involve the same parties. D) You will never find facts that are the same or similar.