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Which of the Following Is an Informal Alternative Method for Promoting

question 12

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Which of the following is an informal alternative method for promoting settlement of disputes from a formal court trial?


Definitions:

Homestead Exemption

A law permitting a debtor to retain the family home, either in its entirety or up to a specified dollar amount, free from the claims of unsecured creditors or trustees in bankruptcy.

Bankruptcy Law

The area of law that deals with the rules and processes through which individuals or businesses can eliminate or reorganize their debts under the jurisdiction of a federal bankruptcy court.

Debtors

Individuals or entities that owe money to another individual or entity.

Creditors

Individuals or entities to whom money is owed by a debtor.

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