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The Legal Environment of Business Study Set 3

Business

Quiz 25 :

Laws of Debtor-Creditor Relations and Consumer Protection

Quiz 25 :

Laws of Debtor-Creditor Relations and Consumer Protection

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According to Article , Section of the U.S. Constitution, the U.S. Congress has the authority to establish "uniform laws" on the subject of bankruptcy throughout the United States.
Free
Multiple Choice
Answer:

Answer:

B

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Which of the following is an order issued by a clerk of the court directing the sheriff to seize any of the nonexempt real or personal property of a debtor who refuses to or cannot pay a creditor?
Free
Multiple Choice
Answer:

Answer:

D

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Which of the following is a court-ordered judgment that allows a local officer of the court to seize a debtor's property?
Free
Multiple Choice
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Answer:

A

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When a mortgagor cannot make the payments for his or her mortgage, the mortgagee will seek a .
Multiple Choice
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Which of the following is a major goal of the United States Bankruptcy Code?
Multiple Choice
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Chapter 7 of the United States Bankruptcy Code deals with .
Multiple Choice
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Which of the following is a term used for specialists who hear only bankruptcy proceedings?
Multiple Choice
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Jane leaves her television at Sally's small appliances repair shop, but she never returns to pick it up or pay the bill. After a period of time, Sally can attach the television. Which type of lien arises on the television?
Multiple Choice
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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was an attempt to meet the complaints of the business community with regard to the _.
Multiple Choice
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Which of the following is a judicial lien?
Multiple Choice
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Attachment involves a court-ordered judgment allowing a local officer of the court (e.g., sheriff) to seize property of a debtor.
True False
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The most significant changes ever to be made to the Federal Bankruptcy Code took place with the enactment of the Act.
Multiple Choice
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Which of the following is an order of the court directed at wages owed by an employer where the debtor has an account?
Multiple Choice
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A contractor installed a new furnace in a house that was under construction. If he were not paid for the job, he would most likely place a(n) _ lien on the property.
Multiple Choice
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Describe the mechanic's lien and the artisan's lien.
Essay
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Which of the following is true of a contract of suretyship?
Multiple Choice
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Which of the following is true of a voluntary petition?
Multiple Choice
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Personal properties, like a vehicle to get to work with, are not exempt from attachments.
True False
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A lien is a claim on a debtor's property that must be satisfied before any creditor can make a claim.
True False
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An artisan's lien is placed on the real property of a debtor when the latter does not pay for the work done by the creditor.
True False
Answer:
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