A real estate agent is an example of a(n):
a. agent
b. employee
c. employee with agency powers d. independent contractor
e. agent and independent contractor
Question 2
On May 1, 1997, two months after becoming insolvent, Quick Corp, an appliance wholesaler, filed a voluntary petition for bankruptcy under the provisions of Chapter 7 of the federal Bankruptcy Code. On October 15, 1996, Quick's board of directors had authorized and paid Erly 50,000 to repay Erly's April 1, 1996, loan to the corporation. Erly is a sibling of Quick's president. On March 15, 1996, Quick paid Kray 100,000 for inventory delivered that day. Which of the following is not relevant in determining whether the repayment of Erly's loan is a voidable preferential transfer?
a. That Erly is an insider.
b. That Quick's payment to Erly was made on account of an antecedent debt.
c. Quick's solvency when the loan was made by Erly.
d. That Quick's payment to Erly was made within one year of the filing of the bankruptcy petition.
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