Sanjana Decides to Make an Assignment in Bankruptcy After She

question 41

Multiple Choice

Sanjana decides to make an assignment in bankruptcy after she loses her job. Times are tough and she just wants a fresh start in life. She puts all of her goods in the hands of the trustee appointed in her case, including a '61 Thunderbird coupe that her father left her when he passed away several years before. Since then, the car has sat under a tarp in a neighbor's garage. Sanjana estimates that the trustee should be able to get at least $80 000 for such a fine vintage model. Sanjana can

• A) try to auction the car herself and pay the proceeds to the trustee.
• B) require the trustee to seek the estimated amount before he sells, and if he does not achieve that price, buy it back.
• C) give the car to a particular creditor.
• D) hold on to the car as part of her exempt property.
• E) none of the above.

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