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1w-Distinguish between unsecured and secured credit. 2- Define and distinguish between surety and guaranty arrangements. 3- Describe a Chapter 7 liquidation bankruptcy and a Chapter
1w-Distinguish between unsecured and secured credit.
2- Define and distinguish between surety and guaranty arrangements.
3- Describe a Chapter 7 liquidation bankruptcy and a Chapter 13 consumer debt adjustment bankruptcy.
4- Describe how a business is reorganized in a Chapter 11 bankruptcy.
5-(a) Define a sole proprietorship. (b) Describe the liability of a sole proprietor.
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