Exam 2: Overview of the Bankruptcy Code

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What is the difference between residency and domicile?

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Bankruptcy attorneys are required to disclose their fees in a bankruptcy petition.

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The initial hearing for the debtor is known as the 342 Meeting of Creditors.

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Chapter 11 applies only to businesses.

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Because law firms compensate paralegals, paralegals are considered petition preparers under Section 101 of the Code.

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When is a Retainer Agreement required to be provided to the client?

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What is the automatic stay?

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If you paid back a debt owed to your cousin Frank, that could be considered a payment made to an insider under the Code.

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Due to legal training, a petition preparer can give legal advice to an assisted person.

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