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:

Verified
Correct Answer:
Verified
Q4: In the distribution of the debtor's estate,
Q16: In a repayment plan case,the plan must
Q17: To adjust debt and institute a repayment
Q18: Discharge of a debt is never denied
Q19: The basic duty of a trustee is
Q20: Bankruptcy proceedings are held in state courts.
Q22: Verna files a petition in bankruptcy in
Q23: To falsify information on official bankruptcy schedules
Q24: Any "person" may be a debtor in
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