Which of the Following Would Strongly Support an Exception to a Settlement

question 14

Multiple Choice

Which of the following would strongly support an exception to a settlement violation of the Bankruptcy and Insolvency Act?

• A) The debtor can be shown to be unable to repay debt without the property.
• B) The transfer took place within one year of the bankruptcy.
• C) Valuable consideration was paid for a good faith transfer.
• D) There was only fraud on the part of the debtor making the transfer.

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Definitions:

Contingency Plan

A predefined strategy or set of procedures to be implemented in response to possible future events or circumstances.

Courses of Action

Various strategies or directions one might take to achieve a goal or solve a problem.

Problem

A situation, question, or issue that presents difficulty, uncertainty, or challenge, requiring resolution or solution.

Opportunity

A chance or set of circumstances that makes it possible to do something.