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:

Component

A part or element of a larger whole, usually contributing to the function or structure of something.

Attitude

A mental inclination demonstrated through assessing a specific entity with a certain level of liking or disliking.

Kidnappings

The act of unlawfully seizing and carrying away a person by force or Fraud, often to hold them in false imprisonment.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more contradictory beliefs, values, or ideas simultaneously.