Under Chapter 11, the Debtor Must File a Reorganization Plan

question 28

Multiple Choice

Under Chapter 11, the debtor must file a reorganization plan, a plan to conserve and administer the debtor's assets in hopes of returning to successful operation and solvency. Which of the following must not be included in the plan?

• A) Designation of classes of claims and interests
• B) Provision for an adequate means for execution
• C) Provision for different treatment of claims in the same class
• D) Provision for payment of tax claims over a five-year period

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Definitions:

UCC

Short for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Good

An item or product that can be transported, used, or consumed, typically something produced for sale or trade.

Statute Of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be in writing and signed by all parties in order to be enforceable.

Specifically Manufactured

Items that are custom made to a buyer's specifications, often relevant in contract law regarding unique goods.