Which of the Following Does Not Define Law

question 11

Multiple Choice

Which of the following does not define law?

• A)Law is that which must be obeyed
• B)Law is a body of rules enacted in a legitimate manner
• C)Law is enacted by businesses and private social groups
• D)Law is enforced by the state
• E)All of the above define law

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Definitions:

Debtor

An individual or entity that owes a debt to another called a creditor, typically arising from a loan or other financial obligation.

Secured Party

A lender or creditor in a secured transaction who has a legal interest or lien on collateral provided by the debtor.

Preferential Payments

Transactions made before a bankruptcy filing where a debtor gives preferential treatment to certain creditors over others.

Bankruptcy Filing

The formal process by which an individual or entity declares an inability to pay outstanding debts, seeking relief through legal proceedings.