Matt is planning to file for bankruptcy.He wants to keep some of his property,so he gives certain jewelry to his parents,with the understanding that they will return it later.Matt also sells his car,worth $5,000,to his girlfriend for $100.These transfers are:

Question

Quizplus · Accepted Answer

These transfers are considered fraudulent because Matt is attempting to hide assets from creditors by transferring them to friends and family with the intention of reclaiming them later.

Matt Is Planning to File for Bankruptcy