A Court Can Dismiss a Chapter 7 Petition and Convert

question 49

True/False

A court can dismiss a Chapter 7 petition and convert it to a Chapter 13 bankruptcy if the debtor does not satisfy the means test.

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The governing bodies of individual states within a federal system, responsible for local legislation and administration.

American History

The study and exploration of the events, people, cultures, and political movements that have shaped the United States over time.

Corporate Veil

The corporate veil is the legal concept separating the actions of a corporation from its shareholders, protecting them from personal liability.

Shareholder

An owner of a corporation, who has no inherent right to manage the corporation but has liability limited to his capital contribution. Also called stockholder.