Agnes plans to file for bankruptcy under Chapter 7 . One month prior to filing, Agnes gives Joe's Filling Station $700 to apply to her gas bill. Joe has been so kind to let her charge the gas she needed for her car over the past year. The bankruptcy trustee appointed to the case
a. can cancel the payment to Joe as a fraudulent transfer.
b. cannot cancel the payment to Joe because it is payment for an existing debt.
c. cannot cancel the payment to Joe because he is not an insider.
d. can cancel the payment to Joe as a voidable preference.
d
You might also like to view...
A nation's banking system, health care system, transportation system, and communications system, as well as the availability and cost of using these systems are considered as ________ resources available for competitive advantage of a business
A) knowledge B) physical C) human D) infrastructure E) capital
With instruments payable at a definite time, Revised Article 3 of the Uniform Commercial Code requires that if:
A. there is a default in payment of the interest but no default in the payment of principal, the instrument becomes overdue. B. a due date for the principal has been accelerated, the instrument is overdue upon default. C. the principal is due in installments and a due date has not been accelerated, the instrument is overdue on the day after the due date. D. the principal is not payable in installments and the due date has not been accelerated, the instrument is overdue on the day after the due date.
Answer the following statements true (T) or false (F)
SFAS 133 values derivatives at fair value.
In CSR performance, what is often measured is/are ______________.
a. Perceptions rather than actual performance b. Philanthropy rather than actual performance c. Ideals rather than actual performance d. Ideas rather than actual performance