Solved

Fact Pattern 30-1A (Questions A8-A9 Apply)

Question 21

Multiple Choice

Fact Pattern 30-1A (Questions A8-A9 apply)
Stacy sells her all-terrain vehicle (ATV) to her brother Terrill for $1,000.Twelve days later,Stacy files a petition in bankruptcy for relief through a liquidation.
-Refer to Fact Pattern 30-1A.Regarding the sale of the ATV,the trustee may


A) cancel it as a fraudulent transfer.
B) cancel it as a voidable preference.
C) not cancel it because it is a sale,not a gift.
D) not cancel it,but can sue Terrill's estate for the return of the $1,000.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions