In terms of Chapter 7 liquidation proceedings, explain what is meant by an involuntary petition.
What will be an ideal response?
An involuntary petition is a petition filed by creditors of a debtor. By filing it, the creditors seek to have the debtor declared bankrupt and his assets distributed to creditors. Involuntary petitions may be filed against many kinds of debtors; however, involuntary petitions in straight bankruptcy cannot be filed against (1) farmers; (2) ranchers; (3) nonprofit organizations; (4) municipal, railroad, insurance, and banking corporations; (5) credit unions; and (6) savings and loan associations. If a debtor has 12 or more creditors, an involuntary petition to declare him bankrupt must be signed by at least 3 creditors. If there are fewer than 12 creditors, an involuntary petition can be filed by a single creditor. The creditor or creditors must have valid aggregate claims against the debtor that exceed by $15,775 or more the value of any security they hold. To be forced into involuntary bankruptcy, the debtor must be unable to pay his debts as they become due-or have had a custodian for his property appointed within the previous four months.
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Distribution of additional shares of stock and reduction of the par value of the stock is ______________________________
Fill in the blank(s) with correct word
International rules that have become binding through a pattern of consistent, longstanding behavior are referred to as customary international law
a. True b. False Indicate whether the statement is true or false
Micro-marketing effectiveness can be measured by assessing
A. consumer complaints. B. attitude research studies. C. the opinions of intermediaries. D. the profits of business firms. E. All of these are good measurements for micro-marketing.
Consumers are generally receptive to advertising in magazines because
A. of its very short lead time. B. magazines are a low-involvement advertising medium. C. ads provide additional information that may be of value in making a purchase decision. D. ads in magazines are intrusive and cannot be ignored. E. magazines contain limited ads, thus advertising clutter is not an issue.