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Can you provide an explanation for these questions? 15. Imagine that you graduated three years ago and have been working for a rm that sells

Can you provide an explanation for these questions?

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15. Imagine that you graduated three years ago and have been working for a rm that sells goods to the general public and to other businesses. You had sold $45,000 worth of goods for your employer to Fisher Enterprises, a relative short time in the past, say about a month. Just after you sold the goods to Fisher, Fisher went bankrupt. Your employer informs you that they have received a letter from Fisher's trustee in bankruptcy, requesting that your company immediately send the $45,000 to the trustee. Your employer also informed you that you would have to return your 10% commission on this sale. The trustee is claiming that Fisher's $45,000 payment to your company must be given to the trustee because it was a. a priority claim , b. a non-dischargeable debt c. a preferential transfer d. all of these e. none of these 16.. Imagine that a student graduated from college with a degree in education, and they got a full- 17. time job in teaching. This work, which usually consists of teaching ve days a week, brings in about $3,200 a month. This individual is living with their parents, but have credit card bills, car payments, student loan payments, car insurance payments, etc. Their total debt is $53,000. If they cannot make all the payments due monthly on their debts, which of the following is the best answer? a. They can le a Chapter 13 and the trustee in bankruptcy will reduce some of their debt and extend it over a longer time. They cannot file for bankruptcy because their debt is too low. They cannot le for a Chapter 7 Bankruptcy. They will not qualify for a Chapter 13 Bankruptcy. None of these spa-.057 The judgment against KimBasinger for $9,500,000 was for the breach of an oral contract. In dealing with bankruptcy issues, it is important to understand the di'erence between secured and unsecured debt. Indicate the best answer. a. This judgment is an unsecured debt. b. This judgment is a secured debt. 0. There could not be a judgment for $9,500,000, in regard to a breach of an oral contract. d. All of these e. None of these

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