The Only Individuals Specifically Excluded from Filing Under Chapter 11

question 19

Multiple Choice

The only individuals specifically excluded from filing under Chapter 11 are:

• A)commodity brokers and stockbrokers.
• B)chartered accountants.
• C)lawyers and judges.
• D)real estate developers.

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Definitions:

Actual Financial Loss

A monetary loss that can be quantified or accurately measured, resulting from specific events like theft or litigation.

Negligent

Describes a failure to exercise the care that a reasonably prudent person would exercise in like circumstances, leading to unintended damage or harm.

Actually Named Third Parties

Specific individuals or entities explicitly mentioned in a legal document or contract, distinguishing them from those not directly named.

Liability Theory

In law and finance, a concept that outlines the conditions under which an individual or entity can be held legally responsible for an action or event leading to damage or loss.