Able Gets a Judgment Against Baker in State Court for $50,000

question 35

Multiple Choice

Able gets a judgment against Baker in state court for $50,000 on July 1.If on July 15, Baker files a bankruptcy petition under Chapter 7:

• A)Able is a lien creditor.
• B)unsecured creditors will share proportionately with Able.
• C)the judgment is a preferential transfer that will be invalidated by the trustee.
• D)Both (a) and (b) are true.

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A comprehensive document that outlines the standard operating procedures, policies, and expectations within an office or organization.

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