An Unliquidated Debt Can Be Described as

question 27

Multiple Choice

An unliquidated debt can be described as

• A)a debt in which both its existence and amount is in dispute.
• B)a debt in which the existence or amount is in dispute.
• C)a debt disputed by the creditor but not the debtor.
• D)a debt undisputed by either party.

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Definitions:

Bankruptcy

A legal process through which individuals or entities unable to pay their debts can seek relief from some or all of their financial obligations.

New Value

A concept in bankruptcy law referring to money or goods contributed to a debtor that can provide the basis for allowing a creditor to receive an otherwise avoidable transfer.

Grant Discharge

The legal process of releasing an individual from certain obligations or debts, often used in bankruptcy cases.

Concealed

Hidden or kept secret from view.