Fact Pattern 30-1AStacy sells her all-terrain vehicle (ATV) to her brother Terrill for $1,000. Twelve days later, Stacy files a petition in bankruptcy for relief through a liquidation.Refer to Fact Pattern 30-1A. Terrill dies while riding the ATV. Stacy is Terrill's only heir. With respect to the bankruptcy estate, the inheritance is

A. exempt property.
B. part of the estate if Terrill died more than 180 days after Stacy's filing.
C. part of the estate if Terrill died within 180 days after Stacy's filing.
D. part of the estate if the accident was in some way Stacy's fault.


Answer: C

Business

You might also like to view...

The specific form of research that attempts to develop new or improved products is called _________.

A. basic research B. applied research C. innovative research D. scientific research

Business

Freedom of speech protects only political speech; it does not include speech such as advertising

a. True b. False

Business

Crytrin Manufacturing, Inc contracted with Molfrey, Inc to manufacture three large pieces of equipment. The contract contained a clause stating that Crytrin agreed to repair or replace any defective equipment, but that was the only remedy Molfry would have. This clause

a. is an effective disclaimer. b. will not keep Molfry from obtaining consequential damages since, under the UCC, consequential damages cannot be excluded. c. is a limitation of remedy clause, which limits or excludes normal remedies permitted under the UCC. d. limits any express warranties made by Crytrin.

Business

________ are natives of a country other than the home country or the host country of an overseas subsidiary.

A) Third-country nationals B) Host-country nationals C) Immigrants D) Expatriates E) Inpatriates

Business