When the government decides to do or not do something,that is referred to as

statutory law.

Constitutional law.

none of the above.

common law.

United States Trustees and Bankruptcy Administrators exist in both North Carolina and Alabama.

True

False

The following aspects of the Bankruptcy Code promote the fresh start:

the discharge,the automatic stay but not exemptions.

the discharge,exemptions and the means test under the Bankruptcy Abuse Preventions and Consumer Protection Act of 2005.

the discharge,exemptions, but not the automatic stay.

the discharge,exemptions and the automatic stay.

Which of the following is true about the Small Business Reorganization Act ("SBRA")?

The SBRA will have a standing trustee in all cases.

The SBRA will increase the time a small business is in bankruptcy as that should give the business more time to effectively reorganize.

The SBRA will add additional hurdles and likely increase the costfor a small business to reorganize.

The SBRA will prohibit operators and owners from retaining their ownership interest in the company.

Support for the SBRA is a quite partison.

Under progressivetheory the rights of creditors outside of bankruptcy should not be altered in bankruptcy,except if it is something creditors would have hypothetically have agreed to.

True

False

Which of the following is not a policy goal of consumer bankruptcy?

provide the debtor a fresh start

equitable distribution of assets among creditors

provide the creditor a fresh start