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BUSI 301 Connect Homework Chapter 20 Liberty University Complete Answers
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BUSI 301 Connect Homework Chapter 20 Liberty University Complete Answers


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A real estate is typically accompanied by a promissory note, a contract in which the borrower pledges to pay back the creditor at a certain rate of interest over a specified period of time.

Laws that protect creditors’ rights come primarily from law and statutory law at the state level.

Credit that is not is known as unsecured debt.

The Uniform Commercial Code refers to the borrower as the .

When the borrower has pledged collateral in order to obtain credit, the creditor is known as a(n) creditor.

What initiates bankruptcy proceedings?

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 gives alimony and obligations a higher priority than certain other creditors.

The trustee is responsible for collecting the debtor’s available assets, known as the bankruptcy .

The fraud exception prevents the discharge of any money obtained through debt for money to the extent obtained by which of the following .

The rights of the secured party are known as a(n) interest.

Although the stigma of Chapter 11 may cause difficulty in raising new capital, the United States Bankruptcy Code gives the debtor in possession power to void prepetition payments and to cancel or assume prepetition .

Assets that a debtor gets to keep even if going through a bankruptcy are known as:

For the purposes of Article 9 of the Uniform Commercial Code, the creditor is known as the party.

If the debtor is an individual, not all property is subject to bankruptcy

Collateral is pledged by the to secure a loan.

In a case of bankruptcy protection, once appointed, a creates a bankruptcy .

A mortgage is typically accompanied by a

A bankruptcy trustee is appointed in cases where the debtor seeks liquidation and discharge of debts, known as Chapter bankruptcy, or in cases where the debtor is a consumer attempting to repay much of the debt over a period of time, also known as Chapter bankruptcy.

As an extreme measure to collect on a real estate debt, a creditor can declare the loan in and institute a mortgage in an effort to take title and possession of the real estate in hopes of selling the property to satisfy the debt owed.

A mortgage is a written document that specifies the parties and the and is filed with a state and/or local government agency.

The various steps associated with turning around a business financially are often referred to by creditors as a(n)

The bankruptcy trustee may void certain transfers that are considered to be an unfair advantage of one creditor over another creditor. These are known as transfers.

A Chapter 11 reorganization plan is generally filed by the

A business is considered when it no longer has adequate assets to maintain its operations and can no longer pay its bills as they become due in the usual course of trade and business.

In Chapter 7, the bankruptcy court gives legal protection to the debtor by any remaining debts.

Pursuant to the of requirement of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, debtors must provide the bankruptcy trustee copies of recent tax returns and pay stubs on a timely basis.

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BUSI 301 Connect Homework Chapter 20 Liberty University Complete Answers
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In terms of the order of distribution of proceeds to creditors in Chapter 7 bankruptcy, creditors are paid first and in full so long as the value of the equals or exceeds the amount of their protected interests. Under c...
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