A Chapter 11 Debtor May Use Bankruptcy as an Excuse

question 30

True/False

A Chapter 11 debtor may use bankruptcy as an excuse for not performing contractual obligations.

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Definitions:

Alteration

A change or modification in something, often referring to physical changes to documents or objects.

Drawer

In the context of financial instruments, the individual or entity that writes and signs a check, effectively instructing the bank to pay the specified amount to the party named or to the bearer.

Charging

The process of imposing a charge or fee for services rendered or for access to facilities or information.

Certifies

The act of officially recognizing, confirming, or attesting to the validity of something, such as a document or claim.