What Is the Effect,if Any,of Debby's Bankruptcy on the Debt

question 8

Multiple Choice

What is the effect,if any,of Debby's bankruptcy on the debt owed by her father?

• A) Debby's father is liable for the debt as he was when he initially signed the loan agreement.
• B) Debby's father is released in the same manner that Debby is released.
• C) Debby's father is released only if the bank failed to take sufficient steps to sue Debby and require payment of the loan before she filed for bankruptcy.
• D) Debby's father is released only if the bank failed to notify him of the bankruptcy in sufficient time to allow him to make a proper claim against Debby in bankruptcy court.
• E) Debby's father is released only if Debby failed to give him sufficient notice of her plans to file bankruptcy.

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Definitions:

Obscure

Not discovered or known about; uncertain and not clear or easily understood.

Vague

Vague describes something that is unclear, indistinct, or not precisely defined, often leading to ambiguity or misunderstanding.

Differentia

A characteristic that distinguishes a thing or a concept from others within the same group or category.

Tricycle

A vehicle similar to a bicycle, but with three wheels (two at the back and one at the front), often used by young children or for specialized utility purposes.