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Author Question: Jake, a businessman, filed for bankruptcy and was declared insolvent by the courts. He owed 15,000 ... (Read 32 times)

bobypop

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on: Jun 24, 2018
Jake, a businessman, filed for bankruptcy and was declared insolvent by the courts. He owed 15,000 each to two creditors and 5,000 each to two others. The courts also decreed that he should sell his house worth 30,000, to pay his debts. Which of the following is legally permissible in this scenario?
 A) After selling his house, Jake will pay the creditors on a pro-rata basis.
 B) After selling his house, Jake will pay whomsoever he chooses.
 C) After selling his house, Jake will pay the creditors he owes the maximum amount of money to.
 D) After selling his house, Jake will pay the creditors he owes the least amount of money to.

Question 2

Retirement ages for firefighters and law enforcement officers are set by local and state government under Section 623(j) of the Age Discrimination in Employment Act (ADEA).
  Indicate whether the statement is true or false


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AaaA

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

TRUE


bobypop

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Reply #2 on: Jun 24, 2018
Thank you :)


AaaA

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Reply #3 on: Jun 24, 2018
Happy to help you


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