Link negligently ran his car into John, causing $50,000 in injuries. Link was intoxicated at the time of the accident. Can Link discharge this debt in bankruptcy?

No, because Link breached a fiduciary duty.

No, such claims are not dischargeable in bankruptcy.

Yes, as long as he didn't intend to hit John's car.

Yes, claims based on negligence are dischargeable.

Liquidation is a form of bankruptcy in which the debtor's exempt property is auctioned.

True

False

Creditor claims are divided into classes and the highest class must be satisfied in full before going to the next category.

True

False

Ramona has received a discharge in bankruptcy, but wants to reaffirm a debt to her sister. To be valid, the reaffirmation

will be scrutinized by the court to make sure her sister has not unfairly pressured Ramona.

will be automatically disallowed because allowing Ramona to promise to pay a discharged debt would be contrary to the goals of the bankruptcy proceedings.

will be automatically allowed if Ramona voluntarily chooses to make it.

must clearly disclose that Ramona has the right to rescind at any time since the debt was already discharged.

Generally, the 341"Meeting of Creditors" is a misnomer.

True

False

An adversary proceeding is a lawsuit in a bankruptcy case.

True

False