A. Be paid by the borrower for any expenses it incurs while acting in its capacity as a surety.
B. Exercise any rights that the lender might have had against the original borrower in the event that the surety is made to pay the lender.
C. Recover from any co-sureties in the event that one surety pays more than its fair share of the debt.
D. Avoid liability on the debt if the lender agrees to release some pledged collateral without the surety’s consent.
A. A lien forces the debtor to turn over its own property, whereas a garnishment forces a third-party to turn over the debtor’s property it’s holding.
B. A lien forces a third-party to turn over the debtor’s property it’s holding, whereas a garnishment forces the debtor to turn over its own property.
C. A lien forces a third-party to turn over its own property, whereas a garnishment forces a debtor to turn over a third-party’s property it’s holding.
D. A lien forces the debtor to turn over a third-party’s property it’s holding, whereas a garnishment forces a third-party to turn over its own property.
A. It can be traded on an open market.
B. It provides a guaranteed rate of return for investors.
C. It is a form of security.
D. It gives the debt holder a vote on company matters.
A. File a civil lawsuit
B. File a criminal lawsuit
C. Repossess the collateral
D. Obtain a court order for garnishment
A. The one whose security interest attached first.
B. The one whose security interested was perfected first.
C. The one who advanced the loan proceeds first.
D. The one who loaned the most funds.
B. Filing a petition
C. Convening a meeting of the creditors
D. Marshaling all of the debtor’s assets
A. BigCorp’s creditors will sue the company for making a fraudulent transfer.
B. BigCorp will be forced to pay the fair market value of the patent to the estate.
C. The asset will be returned to the estate because it was a preference payment.
D. The Trustee will sue the company to void the transfer of the patent and have it returned to the estate.
A. New collection actions against the debtor to stop, while existing court cases may continue.
B. Collection actions against the debtor for debts in excess of $10,000 to cease.
C. Collection actions against the debtor for unsecured debts to cease.
D. All collection actions against the debtor to stop.
A. The plan is feasible for the debtor.
B. The plan is proposed in good faith.
C. The plan will pay creditors at least 50% of the total amount owed.
D. The creditors get at least as much as they would in a Chapter 7 liquidation.