A Preference Occurs When a Debtor Transfers Property or Money

question 30

True/False

A preference occurs when a debtor transfers property or money favoring one creditor over others.

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Definitions:

NLRB

The National Labor Relations Board, an independent US government agency responsible for enforcing US labor law in relation to collective bargaining and unfair labor practices.

U.S. Constitutional

Pertaining to the foundational legal document of the United States, which outlines the nation's government structure, rights of citizens, and federal law supremacy.

Separation of Powers

The division of governmental responsibilities into distinct branches to limit any one branch from exercising the core functions of another, promoting checks and balances.

Appeals Procedure

The process through which a decision made by a lower court can be reviewed by a higher court; it outlines the steps for challenging decisions.