Owners' Claims to Total Business Assets Take Precedence Over the Claims

question 185

True/False

Owners' claims to total business assets take precedence over the claims of creditors because owners invest assets in the business and are liable for losses.

---

Definitions:

Online Legal Research

The process of conducting research relevant to legal matters using the internet and digital databases.

Time

The ongoing progression of events from past, through present, to future; a dimension in which events occur in an apparently irreversible sequence.

PACER

An electronic public access service that allows users to obtain case and docket information from federal appellate, district, and bankruptcy courts.

Federal Judiciary

The branch of the U.S. government responsible for interpreting the law, consisting of the Supreme Court and other federal courts.