The CEO of a large corporation has several executive vice presidents who report directly to her. One of these vice presidents develops major disagreements with the direction that the CEO is taking the organization, as well as with her leadership style. This vice president has an editorial about this printed anonymously in an important national newspaper. This vice president could be described as ______.
a. a conformist
b. alienated
c. effective
d. a whistleblower
b. alienated
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Bill is the paternal head of his family and the family enterprise. He is concerned about the business and wants to ensure its survival for the long run. You, as a consultant, advise him to focus on ______.
a. selling the company b. passing on an entrepreneurial mindset to his family members c. writing a detailed business plan d. establishing a trust for the business
Federal Bank is a secured party on a $50,000 loan to Gigi, who owns Home HealthCare, an assisted living facility. When Gigi experiences financial difficulty, creditors other than Federal Bank petition her into involuntary bankruptcy. The value of the
secured collateral has substantially decreased in value. On its sale, the debt to Federal Bank is reduced to $25,000 . Gigi's estate consists of $100,000 in exempt assets and $20,000 in nonexempt assets. After the bankruptcy costs and back wages to Gigi's employees are paid, nothing is left for unsecured creditors. Gigi receives a discharge in bankruptcy. Later she decides to go back into business. By selling a few exempt assets and getting a small loan, she is able to buy Indulgence, a small, profitable nightclub. Gigi goes to Federal Bank for the loan. The bank claims that the balance of its secured debt was not discharged in Gigi's bankruptcy. She signs an agreement to pay Federal Bank the $25,000, and the bank makes a new unsecured loan to her. IsFederalBank correct that the balance of its secured debt was not discharged in bankruptcy? What is the legal effect of Gigi's agreement to pay the bank $25,000 after the discharge in bankruptcy?
The demand placed on a factory or a central warehouse by distribution centers is considered:
A) uniform. B) independent. C) dependent. D) all of the above E) none of the above
Section 522 of the Bankruptcy Code exempts specified property of an individual debtor from bankruptcy. What are some of these exemptions?