Solved

Assuming the Business Partner Received More Than Would Have Been

Question 53

Multiple Choice

Assuming the business partner received more than would have been received through bankruptcy proceedings,which of the following is the most likely result of a claim of preferential payment based on the payment to the business partner?


A) The payment was not preferential because it was made over 90 days before the filing of the bankruptcy petition.
B) The payment was not preferential because it was made over 120 days before the filing of the bankruptcy petition.
C) The payment was not preferential because it was made over 180 days before the filing of the bankruptcy petition.
D) The payment was preferential because it was made to a business partner and made within two years of the filing of the bankruptcy petition unless Mindy can establish that she was not insolvent when the payment was made.
E) The payment was preferential on the basis that it was made to a business partner within two years of the filing of the bankruptcy petition only if the trustee is able to demonstrate that Mindy was insolvent when she made the payment.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents