Which of the Following Statements Concerning Reaffirmation Agreements Is True

question 21

Multiple Choice

Which of the following statements concerning reaffirmation agreements is true?

• A) Reaffirmation agreements are unlawful under the Bankruptcy Act.
• B) Reaffirmation agreements must be made before a discharge in bankruptcy is granted.
• C) A debtor cannot voluntarily pay any dischargeable obligation without entering into a reaffirmation agreement.
• D) Reaffirmation agreements cannot be rescinded prior to discharge or within 60 days after filing with the court.

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Definitions:

Potential Energy

The energy possessed by a body by virtue of its position relative to others, stresses within itself, electric charge, and other factors.

Chemical Energy

A form of potential energy stored in chemical bonds between atoms and molecules.

Mechanical Energy

The sum of potential energy and kinetic energy in a system, related to the position and movement of objects.

Thermal Energy

The internal energy of a system due to its temperature, related to the motion of its particles.