What Is the Significance of a Court Deeming That a Payment

question 31

Multiple Choice

What is the significance of a court deeming that a payment made by an insolvent debtor is a fraudulent preference and,as such,is void?

• A) Assets will be returned to the estate by way of transaction reversal.
• B) All payments for services given must be reversed and repaid.
• C) All payments to trade creditors must be reversed and repaid.
• D) Assets transferred to relatives prior to insolvency must be reversed.

---

Definitions:

Alter or Falsify

The unethical and illegal action of changing or fabricating data, records, or documents.

Fractured Hip

A break in the upper portion of the femur (thigh bone) near the hip joint, often resulting from falls or direct impacts.

Social Media Policy

Guidelines for an organization's or institution's members to follow when using social media, intended to safeguard the organization's image and confidentiality.

American Nurses Association

A professional organization that represents the interests of registered nurses across the United States, aiming to improve healthcare standards and nursing practices.