The Ten (10) Classes of Priority Claims Recognized by the Bankruptcy

question 16

True/False

The ten (10) classes of priority claims recognized by the Bankruptcy Code are paid before secured creditors realize on their collateral.

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Definitions:

Unconditioned Response

A spontaneous and inherent response to a stimulus that happens without previous learning or conditioning.

Spontaneous Recovery

The reappearance, after a pause, of an extinguished conditioned response in classical conditioning.

Extinction

In behavioral psychology, the process by which a conditioned response decreases in frequency and eventually disappears when the conditioned stimulus is no longer paired with the unconditioned stimulus.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response which is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.