15. The filing of a voluntary, but not an involuntary, petition operates as an automatic stay. True or false
16. A proof of claim is not required for a creditor to participate in the distribution of the proceeds of the liquidation of the debtor's estate.
True or false
17. Creditors who hold security for the full amount of a debt will be affected by a debtor's bankruptcy.
18. A discharge releases a debtor from a debt for a student loan that first became due two years before bankruptcy. True or false
19. Individuals and corporations, but not partnerships, may be reorganized under the Bankruptcy Reform Act. True or false
20. Craig is the principal beneficiary of his aunt's will. If his aunt dies, any property inherited by Craig within six months after the filing of a bankruptcy petition against him passes to the trustee. True or false
21. In a credit transaction, the seller generally must reveal not only the interest rate but also the annual percentage rate. True or false
22. A consumer may waive all defenses. True or false
23. Unreasonable methods of debt collection may be held by the courts to constitute an unreasonable invasion of privacy. True or false
24. When a mercantile agency makes a credit report based on personal investigation and interviews, the consumer investigated has no right to learn the result of such investigation. True or false
25. It is permissible under the Consumer Credit Protection Act (CCPA) to refuse credit to a woman of childbearing age because she may cease working to have children. True or false
26. A credit bureau cannot report a bankruptcy proceeding after ten years. True or false
27. A development statement is a document that the Land Sales Act requires to be filed with the Secretary of Housing and Urban Development by promoters of certain specified real estate developments. True or false
28. Both drafts and promissory notes may have the quality of negotiability. True or false
29. Instruments always are negotiable. True or false
30. Instruments are transferable, written, signed promises or orders to pay a specified sum of money. True or false
31. Instruments are negotiable when they contain the terms required by contract law. True or false
32. The maker is the person who writes out and creates a promissory note. True or false
33. Payees have rights before delivery of the instrument to them. True or false
34. Once a draft is delivered to the payee, the drawee becomes liable. True or false
35. When a drawee has signified in writing on a draft the willingness to make a specified payment, the drawee is called the acceptor. True or false
36. A person who becomes an accommodation party assumes a certain degree of liability True or false
37. A drawee has no responsibility until the draft is accepted. True or false
38. A payee is not liable on the instrument until the payee transfers the instrument. True or false
39. Automobile lemon laws apply only to purchases of vehicles by businesses. True or false
Hello and welcomeI can help you with these questions though the question value is bit low.
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course: business law en200