Fundamentals of Business Law 5

Fundamentals of Business Law 5 - Unit 5 Fundamentals of...

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Unit 5 Fundamentals of Business Law 1 Fundamentals of Business Law Personal Legal Perspectives May 27, 2011 Ashleigh Flemons BUS255-1102A-07
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Unit 5 Fundamentals of Business Law 2 Abstract In this final IP for the fifth week of class, the assignment tells us to read the scenarios given and then answer the questions at the end of each one. The first one asks us about if the petition to file involuntary bankruptcy should be granted and to explain the answer. The second one asks us if the bankruptcy court can confirm the debtors plan for reorganization. I have answered both these questions and explained my reasoning for each one below.
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Unit 5 Fundamentals of Business Law 3 Bankruptcy Involuntary bankruptcy requirements state that creditors cannot force any debtor into involuntary bankruptcy. In the case of the partnership Beren is a debtor and is unable to file an involuntary bankruptcy, unless however, he files as a creditor against his two partners and says they owe him money for repairs on the property.
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Fundamentals of Business Law 5 - Unit 5 Fundamentals of...

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