The following is an example of exempt property of the bankruptcy estate:
A) College loans.
B) A high definition television.
C) A 2 carat engagement ring.
D) Alimony.
D
You might also like to view...
Under what circumstances are mergers with or acquisitions of other companies a better solution than entering into partnerships or alliances with these companies? How do mergers and/or acquisitions contribute to enhancing a company's position?
What will be an ideal response?
An agreement may violate public policy even if the agreement does not require a party to commit a crime, tort, or violate a statute
a. True b. False Indicate whether the statement is true or false
Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it. Leslie buys the stereo, but it does not have quadraphonic speakers. Is Mark liable for breach of warranty?
A) No, because he did not know his statement was false. B) No, because he did not promise her that the speakers were quadraphonic. C) Yes, because the statement was false. D) Yes, because Mark was not acting in good faith.
Tina is a real estate broker who has been asked to sell a property by a client. The property is exactly what she has wanted for herself. She knows the seller is unaware of the value of the property and is relying on her to make the best decision. She knows if she markets it aggressively, she can get several thousand dollars more for the property than the seller is asking. Tina talks to her son and asks him to buy the property in his name, with her funds, and to transfer the property to her after the transaction is completed. She contacts her client and tells him she has a buyer ready who is offering to purchase the property for a thousand dollars over the listing price. The seller agrees to the sale unaware of the other issues involved. As it relates to the topic of this chapter, which of
the following best describes Tina's actions? A. Tina has sacrificed a thousand dollars more than she needed to pay for the property. B. Tina has no ethical issues because the seller received more money in the transaction than the listing price. C. Tina has knowingly engaged in a conflict of interest. D. Tina helped her client enter a transaction in which everyone benefitted.