Which of These Is the Rule Under Which Claimants Are

question 60

Multiple Choice

Which of these is the rule under which claimants are paid in a Chapter 7 bankruptcy?

• A) First come, first served
• B) Absolute priority
• C) Term structure priority
• D) Date due priority

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Definitions:

President

The elected head of state and government in a republican form of government, responsible for executing the laws and leading the executive branch.

Electoral College

The body of electors established by the United States Constitution, responsible for selecting the President and Vice President.

Electors

Individuals chosen to vote in an electoral college system, such as that used for the United States presidential elections.

Electoral College

A body of electors established by the U.S. Constitution, responsible for selecting the President and Vice President, where each state's voting power is roughly proportional to its population.