Once a Discharge Is Granted, It May Not Be Revoked

question 42

True/False

Once a discharge is granted, it may not be revoked, even if, for example, a debtor concealed property to defraud a creditor.

---

Definitions:

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, representing profit or gains from trade.

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures.

Mutually-Agreeable Trade

A transaction or trade that both parties involved consent to and believe will benefit them.

Opportunity Cost

The expense incurred by not selecting the second-best option when deciding among various choices.