Where the Debtor Has Fewer Than Twelve (12) Creditors, How

question 32

Multiple Choice

Where the debtor has fewer than twelve (12) creditors, how many must sign an involuntary petition?

• A) one (1), assuming that the creditor's unsecured claim is at least $15,325
• B) one (1), assuming that the creditor's secured claim is at least $15,575
• C) three (3), assuming that the creditors' unsecured claims total at least $14,425
• D) three (3), assuming that the creditors' secured claims total at least $15,575

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Definitions:

Programmed Decisions

Decision-making processes that are routine and repetitive, often automated or guided by established policies and procedures.

"If-then" Decision Rules

Logical constructs used in decision-making that trigger specific actions if certain conditions are met.

Framing Error

A cognitive bias where information is perceived and interpreted through a subjective lens, potentially leading to misconceptions.

Prejudice

A preconceived opinion or judgment towards people or ideas without sufficient knowledge, fairness, or reason, often based on stereotypes.