Deck 2: Bankruptcy Law and Where to Find It

Question 1

Under BAPCPA, Chapter 12 was made a permanent chapter of the Bankruptcy Code.

Answer 1

True

Question 2

States may ____.

A) enact bankruptcy legislation if Congress has not acted
B) enact bankruptcy legislation if Congress has not acted on the specific topic
C) enact bankruptcy legislation even if Congress has acted and thus give residents in that state a choice between federal and state bankruptcy
D) not enact bankruptcy legislation because the United States Constitution has preempted the field for Congress

Answer 2

A

Question 3

MATCHING
Match each item with the correct statement below.
a.
Chapter 1
e.
Chapter 9
b.
Chapter 3
f.
Chapter 11
c.
Chapter 5
g.
Chapter 12
d.
Chapter 7
h.
Chapter 13
Adjustment of Debts of an Individual with Regular Income
13. Liquidation
14. General Provisions
15. Adjustment of Debts of a Family Farmer or Family Fisherman with Regular Annual Income
16. Case Administration
17. Adjustment of Debts of a Municipality
18. Creditors, the Debtor, and the Estate
19. Reorganization

Answer 3

12. ANS: H
13. ANS: D
14. ANS: A
15. ANS: G
16. ANS: B
17. ANS: E
18. ANS: C
19. ANS: F

Question 4

The holding and rationale of a United States Bankruptcy Court interpreting a federal statute is mandatory primary authority and must be followed by all bankruptcy courts nationwide.

Question 5

Under the Bankruptcy Code of 1978, Chapter Twelve is referred to as "Chapter XII."

Question 6

Under the Bankruptcy Act of 1898, Chapter Twelve was referred to as "Chapter 12."

Question 7

"Bankrupt" is the term used to describe the person or entity who is the subject of a bankruptcy case.

Question 8

Which courts may hear appeals directly from a bankruptcy court?

Question 9

Most bankruptcy courts have adopted Local Rules to supplement the Bankruptcy Rules.

Question 10

Although the Constitution granted Congress the power to enact legislation in the area of bankruptcy, states also may have their own bankruptcy laws, especially in those areas where Congress has not acted.

Question 11

The universal chapters of the Bankruptcy Code are: ______________.

Question 12

The chapters of the Bankruptcy Code are 1, 3, 5, 7, 9, 11, 13, and 15.

Question 13

Why is the power conferred upon Congress in Article I, Section 8, Clause 4 of the United States Constitution important? (Why is it important that the power to create bankruptcy laws be federal rather than state?)

Question 14

In which chapter of the Bankruptcy Code is each of the following sections found?
Section 1112
Section 101
Section 707
Section 503

Question 15

The holding and rationale of a United States Supreme Court opinion is mandatory primary authority.

Question 16

The operative chapters of the Bankruptcy Code are: ______________.

Question 17

Explain how the concept "after notice and a hearing" helps facilitate the administration of bankruptcy cases.

Question 18

State legislation is mandatory primary authority for transactions covered by state statute.

Question 19

Who has authority to create the Federal Rules of Bankruptcy Procedure and the Official Forms?

Question 20

The definitions in Chapter 1 of the Bankruptcy Code apply throughout the Bankruptcy Code.

Question 21

Briefly describe the difference between primary and secondary authority.

Question 22

For each of the following categories, state whether it is primary or secondary authority, and list one source within that category and briefly describe when one would use that source.

Question 23

Describe the federal court structure for bankruptcy.

Question 24

Why are some chapters in the Bankruptcy Code called "universal chapters" and others called "operative chapters"?

Question 25

Which courts write bankruptcy opinions? What are the names of the publications or databases in which the various opinions can be found?