Chapter 15

As long as the debtor lives up to the terms of an accepted consumerproposal, creditors cannot take action againsthim/her.

True

False

When creditors receive notice of a consumer proposal from an insolventdebtor, they must demand a meeting or the proposal will be automatically accepted.

True

False

Crops still in the ground and products in the process of being made can be used by Chartered Banks as security.

True

False

Any substantial change in the nature of the contract between the creditor and the debtor without theguarantor's consent will relieve the guarantor of any obligation.

True

False

Both a chattel and a chose in action can be used to secure a debt.

True

False