MATCHING Part VIII Matching

MATCHING
Part VIII Matching
Match each statement with the correct term below.a.The right in personal property that secures payment or performance of an obligation.b.Relief from liability for all debts except those specified in the Bankruptcy Code.c.A document filed to provide notice of a security interest.d.Property subject to a security interest.e.Tangible or electronic record that evidences both a debt and a security interest in specific goods.f.Creation of a security interest that is enforceable against a debtor.g.Delivery of personal property to a creditor as security for payment of a debt.h.An agreement between the debtor and creditor creating a right in personal property that secures payment or performance.i.Movable things bought or used primarily for personal, family, or household purposes.j.Creditor's remedy involving a statutory proceeding directed at a third person who owes a debt to or has property of a debtor.k.A surety liable to a creditor immediately upon the default of a principal debtor.l.Creation of a security interest enforceable against most third parties.m.The right of a surety to be relieved of his obligation to the creditor by having the principal debtor perform the obligation.n.A surety's right to assume the creditor's rights.o.A person who promises to answer for the payment of a debt or the performance of a duty owed to the creditor by the principal debtor upon the principal debtor's failure to perform.p.A way to begin a bankruptcy case that is available to any debtor even if solvent.q.May be filed by creditors only under Chapter 7 or 11.r.The person responsible for collecting, liquidating, and distributing the debtor's estate.s.Surety liable to a creditor only after creditor has exhausted legal remedies against the principal debtor.t.Any entity that has a claim against the debtor.u.A claim with a lien on property of a debtor; a claim tied to specific property of the debtor.v.Certain preferential transfers made by the debtor to favored creditors before the date of bankruptcy and invalidated by the Bankruptcy Code.w.An agreement between the debtor and two or more of her creditors that each will take a portion of his claim as full payment.x.Prevents attempts by creditors to recover claims against the debtor.y.A voluntary transfer by the debtor of some or all of his property to a trustee, who applies the property to the payment of all of the debtor's debts.
-discharge

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free