An Ordinary Contract Between the Debtor and His Creditors Whereby

question 4

Multiple Choice

An ordinary contract between the debtor and his creditors whereby the creditors receive pro rata a part of their claims and the debtor is discharged from the balance of the claims is:

• A) a nonstatutory composition.
• B) a statutory assignment.
• C) an equity receivership.
• D) an automatic stay.

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Definitions:

Bad Mood

A temporal state of feeling sad, irritable, or angry without a clearly identifiable reason, affecting one's thoughts and behaviors.

Dating Partners

Individuals involved in a romantic relationship with the purpose of assessing each other's suitability as a partner in an intimate relationship or marriage.

Skeptical

Characterized by a questioning attitude towards information, beliefs, or claims, often requiring evidence before acceptance.

Elderly

A demographic term referring to individuals who are significantly beyond the average age of adulthood, often considered to be 65 years and older.