Discuss the purpose of a Chapter 7 liquidation case and what may lead most debtors to file under this chapter. Briefly summarize the Chapter 7 process
What will be an ideal response?
student should discuss the various reasons that led up to a debtor filing for chapter 7, i.e. insurmountable medical expenses, excessive credit debt, extended periods of unemployment, and divorce. The student should discuss, for example, the process in a Chapter 7 case beginning with credit counseling, petition and schedules, appointment of trustee, the bankruptcy estates, and the 341 Meeting.
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Divorce, legal separation, annulment, and ________, are the four primary methods used by parties seeking to separate or dissolves their marriage
Fill in the blank(s) with correct word
A remedy allowed by courts where remedies at law are not appropriate and that is based on rules of fairness, justice, and honesty is called a:
a. Common law remedy b. Remedy at law c. Remedy in equity d. Civil law remedy
Which of the following is TRUE of alimony in the contemporary family law context?
A) It is never awarded in the context of a no-fault divorce. B) Its primary purpose is to punish a blameworthy spouse. C) Alimony awards have decreased in number but increased in duration. D) It is viewed primarily as an economic event designed to enable a dependent spouse to obtain skills, enter or reenter the workforce, and become self-sufficient.
The concentration of states that use community property are located:
A. In the North. B. In the East. C. In the West and Southwest. D. Predominately in the South.