_____ Is a Dispute Resolution Process Held Instead of Court

question 91

Multiple Choice

_____ is a dispute resolution process held instead of court cases in which both sides present their case to a legal professional.

• A) Litigation
• B) Arbitration
• C) Mediation
• D) Piercing the veil

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Definitions:

Impaired Claimants

Individuals who have a claim (usually in a legal or bankruptcy context) but whose right to collect or settle is limited or reduced.

Indubitable Equivalent

A term in bankruptcy law referring to a replacement of collateral that is unquestionably equal in value to the original collateral.

Granted A Discharge

The release of a debtor from the obligation to repay his or her debts, typically occurring at the conclusion of a bankruptcy case.

Liquidation Proceeding

A legal process in which a company's assets are distributed to claimants, conducted when the company is insolvent and unable to meet its debt obligations.