Chapter 11 of the United States Bankruptcy Code allows a ________
A) portion of a debtor's earnings to be paid into court for distribution to creditors over a period of three years
B) business to reorganize and continue to function while it is arranging for the discharge of its debts
C) portion of a debtor's homestead exemption to be paid into court for distribution to creditors over a period of five years
D) debtor to turn over all assets to a trustee who sells the nonexempt assets and distributes the proceeds to creditors
B
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Match the following needs with the examples of the application of that motivation.
What will be an ideal response?
Clay, a minor, signs a contract to buy a car from Delta Motors by misrepresenting his age as twenty-one. Clay fails to make the payments. Delta sues. In most states, Clay can
A. not return the car nor avoid further liability B. not return the car but can avoid further liability C. return the car and avoid further liability D. return the car but cannot avoid further liability