Which of the following describes the Bankruptcy and Insolvency Act?
A) Determines process by which debtors convey their assets to a trustee in bankruptcy who distributes them to the creditors.
B) Provides alternative to criminal charges.
C) Allow persons with impossible burdens of debt to discharge all of their debts.
D) Protects the interests of debtors.
E) Helps incorporated companies after discharge to carry on without the same burden of debt

Question

Quizplus · Accepted Answer

The Bankruptcy and Insolvency Act outlines the process for debtors to transfer their assets to a trustee, who then distributes them to creditors.

Which of the Following Describes the Bankruptcy and Insolvency Act