Reconstruction Building Services Receives a Discharge in Bankruptcy,even Though Some

question 14

Multiple Choice

Reconstruction Building Services receives a discharge in bankruptcy,even though some creditors hold judgments on overdue debts against it and others filed ac?tions to collect on overdue debts before the bankruptcy.Reconstruction's dis?charge will

• A)absolve the liability of any co-debtors.
• B)permit the debtor to enter into reaffirmation agreements.
• C)allow the debtor to file a petition for a reorganization.
• D)prohibit actions and void judgments regarding overdue debts.

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Definitions:

Obligee

One to whom an obligation is owed.

Delegatee

One to whom contract duties are delegated by another, called the delegator.

Delegated Duty

A task or responsibility that is assigned by someone in authority to another person or entity to execute.

Assignor

The person who assigns contract rights.