Thirty-One Days Before Filing a Petition in Bankruptcy,Dee Transfers Prop-Erty

question 48

Multiple Choice

Thirty-one days before filing a petition in bankruptcy,Dee transfers prop-erty and makes payments that favor one creditor over another.These are

• A)affirmation agreements.
• B)preferences.
• C)secured interests.
• D)unsecured debts.

---

Definitions:

Intentional Misrepresentations

False statements or lies made knowingly, with the intention to deceive or mislead another party, which can serve as grounds for legal action if they result in harm.

Principal

The main party to a transaction or contract, such as a company, individual, or entity, which has authorized others to act on its behalf.

Agent

A person or entity authorized to act on behalf of another person or entity (the principal), typically within the scope of business or legal matters.

Indemnify The Agent

To protect the agent against losses, damages, or liabilities arising from their actions while performing their duties.