Payments in the Ordinary Course of Business Made Within 90

question 20

True/False

Payments in the ordinary course of business made within 90 days prior to a Chapter 11 bankruptcy filing are voidable as a preference.

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Definitions:

Inventory

Consists of the goods and materials held by a business for the purpose of resale or production.

Consumer Good

A product intended for personal use or consumption by the general public.

Personal Use

Personal use refers to the use of something primarily for one's personal needs, benefits, or purposes rather than for business or professional matters.

Household Purposes

Activities or tasks carried out within a home for the benefit of its occupants, often relating to daily living and maintenance.