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iogann1982 [59]
3 years ago
5

Alex files a petition for bankruptcy under Chapter 7. He owes $2.37 million to assorted creditors. Two months before filing, he

sold his beach house, which was valued at $600,000, to his brother Jonah for $150,000. If the trustee objects to the sale, then it is most likely that:
Social Studies
1 answer:
FrozenT [24]3 years ago
4 0

Answer:

The trustee can stop Alex from selling the house and that automatically prevent the transfer of ownership from Alex to his brother Jonah.

Explanation:

The trustee will refute the transfer and take back the house as part of Alex's estate. The reason for this is not far fetched, Alex actions in this regards is tantamount to an abuse of chapter 7 of the Bankruptcy law. In that case, the trustees can use the "means test" to determine his actions and can stop the transfer of ownership to his brother, Jonah.

Because of people like Alex, US trustees has achieved a regulatory system most creditor friendly commentators have consistently espoused, which is a formal means test for Chapter 7. (The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) has clarified this area of concern.

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Answer:

Yes he may prevail

Explanation:

He wants to exercise his civic duty and he has every right to file a suit because he has been taxes indirectly to the city.

Firstly, The farmer does not pay any tax directly to the city because a portion of his farm property is turned over by the county to the city to support the city police department, which indirectly, he is paying tax because this support to the city is categorized indirectly as his tax.

Secondly, His farm property has been vandalized several times over the months and the police didn't do anything about it to improve his situation which calls for attention to why nothing has been done about it despite his support to the city police department.

With the two above paragraphs, he has a point and his also lives in one of the rural communities and the city ordinance provides that only residents of the city may vote, but the city ordinance is always the city ordinance, the law might and might not favor him, he could get payment for the damages on his properties, but it would be quite difficult for him to prevail over the suit because he doesn't live in the city

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3 years ago
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klemol [59]

Answer: The Proclamation of Neutrality was a formal announcement issued by U.S. President George Washington on April 22, 1793 that declared the nation neutral in the conflict between France and Great Britain. It threatened legal proceedings against any American providing assistance to any country at war.

Explanation:

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2 years ago
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