Which of the Following Nonbankruptcy Alternatives Allows the Debtor to Transfer

question 26

Multiple Choice

Which of the following nonbankruptcy alternatives allows the debtor to transfer some or all of his assets to a trustee who sells the assets and apportions the proceeds in some agreed manner, usually pro rata, to the creditors?

• A) Reaffirmation
• B) Assignment for the benefit of the creditors
• C) Order of relief
• D) Exclusive dealing agreement
• E) Hypothetical lien creditors

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Definitions:

Organizational Barriers

Hindrances within a company that prevent effective communication, decision-making, and processes.

Whistle Blowing

Involves an employee or former employee of an organization calling public attention to serious wrongdoing or danger within the organization.

Moral Quality Circles

Groups focused on identifying, discussing, and solving ethical issues in the workplace to promote integrity and moral behavior.

Socially Responsible

A principle where individuals and organizations act in the best interests of society by taking into consideration the impact of their activities on the environment, consumers, employees, communities, and other stakeholders.