Confirmation of a Plan for Reorganization Under Chapter 13 May

question 57

Multiple Choice

Confirmation of a plan for reorganization under Chapter 13 may be given only if:

• A) the plan complies with applicable law and is given in good faith.
• B) the plan provides for payments longer than three years.
• C) the debtor remains in possession of the estate.
• D) all of the creditors agree to accept it.

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Definitions:

Short Run

A period during which at least one of a firm's inputs is fixed, limiting its ability to adjust production levels.

Long Run

A period of time in economics sufficient for all markets to adjust to changes, including the production capacity of the industry.

Price Paid

The actual amount of money exchanged for acquiring a good or service.

Resource Market

A market where raw materials, services, and other inputs required to produce goods and services are bought and sold.