When the Chapter 11 petition is filed, the debtor files a series of pleadings to obtain court approval to engage in activities that are not allowed under the Bankruptcy Code
Indicate whether the statement is true or false
TRUE
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If your firm's Internet connection goes out while you are conducting important online legal research, you should:
a. Switch your research to a smartphone or tablet Internet connection b. Advise your supervisor that you can no longer work on the case c. Ask your supervisor for an extension and then call the client and explain that the case will be delayed due to technical difficulties d. Do nothing and wait for the connection to be reset
?Partnerships do not pay federal income taxes as an entity. Each partner declares his or her profits from the partnership as personal income. The partnership is referred to as which of the following?
A. ?A tax-free entity B. ?A pass-through entity C. ?A personal tax entity D. ?A run-through entity
On August 20, Jolene signs a lease agreeing to rent an apartment from George. The lease term begins on September 1. On August 22, Jolene informs George that she doesn't want to rent the apartment after all. Is Jolene breaching the contract?
A) No, because a written lease is not a valid contract until the tenant actually moves in. B) No, because the contract did not exist until September 1. C) Yes, because the contract was in effect on August 22, even though the lease term itself didn't start until September 1. D) Yes, because a contract's effective date is always the date of signing, regardless of what the contract says.
The rescue of an entity or an industry, such as the banking industry, from financial trouble or possible collapse, is a(n):
a. Bailout b. Safety net c. Anti-collapse process d. Saving process