Samson Industries ceased doing business and is in bankruptcy proceedings. Among the creditors are five employees seeking

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Samson Industries ceased doing business and is in bankruptcy proceedings.

Among the creditors are five employees seeking unpaid wages. Three of the employees are owed $3,500 each, and two are owed $1,500 each. These amounts became due within 90 days preceding the filing of the petition.

Where, in the priority of claims, will the employees’ wage claims fall?

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Anderson's Business Law And The Legal Environment

ISBN: 9780324638189

20th Edition

Authors: David P Twomey, Marianne M Jennings, Ivan Fox

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