Exam 38: Bankruptcy

Alimony and support payments owed to the debtor who files bankruptcy are part of the bankruptcy estate that can be distributed to the debtor's creditors for the payment of allowed claims filed with the bankruptcy court.

A writ of execution is issued after a judgment against the debtor is entered in court.

An automatic stay would not prevent a creditor from creating a lien against the debtor's property.

All of the following are dischargeable in bankruptcy EXCEPT:

An involuntary petition in bankruptcy:

A composition of creditors is a bankruptcy form of relief under Chapter 13 of the Bankruptcy Code.

Discharge relieves the debtor in bankruptcy from liability for all of his debts.

A statutory lien arises solely by force of statute and includes a security interest and a judicial lien.

Any person who may be a debtor under Chapter 7, except a stockbroker or a commodity broker but including railroads, may be a debtor under Chapter 11.

Under the Bankruptcy Act, the debtor must file which of the following?

Chapter 3 of the Bankruptcy Code contains provisions dealing with the commencement of a case in bankruptcy.

In an assignment for the benefit of creditors, if each creditor is paid a pro rata share of his original obligation, the debtor is then discharged from any further obligation to the creditor.

An automatic stay ends:

A plan of reorganization under Chapter 13 will be confirmed when the:

Non-bankruptcy compromises to give debtors relief while protecting the rights of creditors include:

All but which one of the following would be exempt from bankruptcy under the federal law?

One type of fraudulent transfer consists of the:

In a Chapter 11 or 13 proceeding, the bankruptcy estate of an individual includes wages earned after commencement of the proceeding.

Regarding priority claims:

The Bankruptcy Code grants to U.S. District Courts original and exclusive jurisdiction over all bankruptcy cases.