Multiple Choice
Which of the following is false regarding Chapter 12 of the bankruptcy code?
A) At least 50 percent of the family farmer's debt must be farm-related.
B) The debt must be under a certain debt cap.
C) A family farmer under Chapter 12 must have regular annual income.
D) The family farmer's gross income must be at least 50 percent farm-dependent.
E) Congress modeled Chapter 12 after Chapter 7 relief.
Correct Answer:
Verified
Correct Answer:
Verified
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