Filing for Bankruptcy Under Chapter 13 of the Bankruptcy Code

question 367

Multiple Choice

Filing for bankruptcy under Chapter 13 of the bankruptcy code results in ____ of debts.

• A) liquidation
• B) reorganization
• C) reduction
• D) reclaiming
• E) negating

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Definitions:

Contract Law

The body of law that governs the formation, enforcement, and interpretation of agreements between parties.

Preparing Contracts

The process of drafting agreements between parties that outline the terms and conditions of their relationship or transaction.

Litigation Paralegals

Legal assistants who specialize in assisting lawyers during the process of litigation, including research, documentation, and preparation of case materials.

Trust

An arrangement in which property is transferred by one person (the grantor or settlor) to another (the trustee) for the benefit of a third party (the beneficiary).