Which of the following statements concerning reaffirmation agreements is true?
A. Reaffirmation agreements must be made before a discharge in bankruptcy is granted.
B. Reaffirmation agreements are unlawful under the Bankruptcy Act.
C. Reaffirmation agreements cannot be rescinded prior to discharge or within 60 days after filing with the court.
D. A debtor cannot voluntarily pay any dischargeable obligation without entering into a reaffirmation agreement.
Answer: A
You might also like to view...
After posting the second closing entry to the income summary account, the balance will be equal to
A) zero. B) owner's equity. C) revenues for the period D) the net income or (loss) for the period.
Compound words usually begin as two or more separate, often ____________ words
a. similar b. synonymous c. homogenous d. unrelated
José is making a presentation to potential donors for International University about design and construction plans for the new Health Sciences Center planned for the institution. He has never spoken to these donors before and he is new to the university. Which of the following techniques should he use to make an effective presentation?
a. Thoroughly research the donors, their backgrounds, and the project. b. Review the presentation but avoid practicing so the delivery will seem natural. c. Arrive just before the presentation to avoid mingling with people who are unfamiliar. d. All of the above are recommended techniques.
In a noncarrier case for the sale of goods, which of the following is most important in
determining when risk of loss passes? A) Whether the buyer is a merchant B) Whether any warranties have been disclaimed C) Whether the seller is a merchant D) When title passes