Fact Pattern 13-1 Damian Owns a Pick-Up Truck and a Motorcycle.He Sells the Motorcycle.He

question 23

Multiple Choice

Fact Pattern 13-1
Damian owns a pick-up truck and a motorcycle.He sells the motorcycle to Eden for $10,000.Eden pays for the cycle with a check, knowing that she had insufficient funds in her account to cover the amount.A week later, Damian files a petition in bankruptcy for relief through a liquidation.
-Refer to Fact Pattern 13-1.Regarding the pick-up truck, Damian

• A)can exempt an interest in it up to $3,675 from the bankruptcy.
• B)must include it as part of the estate because Damian sold the cycle.
• C)must include it as part of the estate because Eden's check did not cover the cost of the cycle.
• D)must include it as part of the estate unless the trustee recovers the price from Eden.

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Definitions:

Flashbulb Memory

Highly detailed, exceptionally vivid 'snapshot' of the moment and circumstances in which a piece of surprising and consequential news was heard.

Accuracy Trust

The degree of confidence in the accuracy of a source or information.

Retroactive Interference

A phenomenon in which subsequently learned material lowers the probability of recalling earlier learned material.

Recall

is a measure of memory in which a person must retrieve information learned earlier, as on a fill-in-the-blank test.