1. What is a foreclosure?
2. What is the purpose of an acceleration clause?
3. How does a party satisfy their obligations to omitted junior lienholders?
4. What is the order in which judicial foreclosure proceeds are distributed?
5. Define strict foreclosure and when it would be used.
6. How does a power-of-sale foreclosure differ from judicial foreclosure?
7. What are the two forms of redemption?
8. What is an action for deficiency judgment initiated?
9. What are the differences between a voluntary and an involuntary petition for bankruptcy?
10. Why would a party file an involuntary bankruptcy petition? What are the advantages?
11. Outline the process of bankruptcy and briefly describe the differences between Chapters 7, 11, and 13 bankruptcy.