Which one of the following actions by a debtor constitutes an act of bankruptcy?
A) a fraudulent conveyance of liabilities to one of the creditors
B) a fraudulent transfer of money or assets
C) assignment of liabilities to a trustee
D) having more debts than assets
E) generally meeting liabilities as they become due

Question

Quizplus · Accepted Answer

A fraudulent transfer of money or assets by a debtor to avoid paying off debts is considered an act of bankruptcy under many laws.

Which One of the Following Actions by a Debtor Constitutes