What is the effect,if any,of Debby's bankruptcy on the debt owed by her father?
A) Debby's father is liable for the debt as he was when he initially signed the loan agreement.
B) Debby's father is released in the same manner that Debby is released.
C) Debby's father is released only if the bank failed to take sufficient steps to sue Debby and require payment of the loan before she filed for bankruptcy.
D) Debby's father is released only if the bank failed to notify him of the bankruptcy in sufficient time to allow him to make a proper claim against Debby in bankruptcy court.
E) Debby's father is released only if Debby failed to give him sufficient notice of her plans to file bankruptcy.
Correct Answer:
Verified
Q55: Which of the following is a claim
Q57: Which of the following is true if
Q58: Which of the following is the type
Q59: Assuming the court follows the reasoning of
Q61: How does a court go about determining
Q63: What does the Federal Consumer Credit Protection
Q64: Mary owns a small business of washing
Q78: A _ is a contract between a
Q83: Discuss why a creditor would want to
Q84: Discuss the rights of a surety and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents