Business Law Text
Quiz 34: Bankruptcy
The Filing of a Petition for Bankruptcy Will Automatically Stay
The filing of a petition for bankruptcy will automatically stay most legal actions against the debtor.
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In the majority of states,debtors may use only federal exemptions to exempt certain property from the bankruptcy.
The basic duty of a trustee is to collect the debtor's property and reduce it to money for distribution.
A trustee has the power to avoid a sale of the debtor's property.
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