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Always cite or provide your legal basis in the answering the following matters. 4. (a) What do you understand about refectionary credits? (b) What are

Always cite or provide your legal basis in the answering the following matters.

4. (a) What do you understand about refectionary credits?

(b) What are the purposes of the Insolvency Law and the Corporate Financial Rehabilitation Act?

5. May the following be declared insolvent? (a) married women; (b) partnership; (c) corporation; (d) insane persons. Explain briefly.

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