1. Joe operates a sole proprietorship, a corporation
, and a partnership
. Joe wants to obtain relief for his individual debts, as well as for those of his corporation and partnership. Joe may file a petition for each under (Points : 2)
Chapter 7 and 13.
Chapter 11 and 13.
2. Fred conceals assets from his bankruptcy
proceeding with the intent to defraud his creditors. When this is discovered, the court may (Points : 2)
only deny a discharge.
only distribute Fred's assets to his creditors.
only order that Fred remain liable for the unpaid portions of the creditors' claims.
deny a discharge, distribute Fred's assets to his creditors, and order that Fred remain liable for the unpaid portions of the creditors' claims.
over bankruptcy proceedings is vested in the federal district courts. (Points : 2)
4. When an agent is authorized to transact all activities in a particular business
, that agent is (Points : 2)
a general agent.
a perfected agent.
a special agent.
a universal agent.