Brad was having financial difficulties and thought bankruptcy might be in his future.He transferred his sports car to his brother with the agreement that if he didn't file for bankruptcy within the next 18 months,his brother would return the car to him.Brad did file for bankruptcy in ten months.The bankruptcy trustee can bring the car back into Brad's estate for the purpose of providing assets for Brad's creditors.

Question

Quizplus · Accepted Answer

This transfer of assets is considered fraudulent under bankruptcy laws and the trustee has the right to bring the car back into Brad's estate to provide assets for his creditors.

Brad Was Having Financial Difficulties and Thought Bankruptcy Might Be