WEEK 10 QUIZ 1

QUESTION 1

  1. What is the name of the treaty that allows American patents to be recognized and enforced in member countries?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 2

  1. The correct order of payment of claims from the debtor’s estate would be
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 3

  1. Chapter 7 bankruptcy is also known as
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 4

  1. A plant patent lasts for
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 5

  1. Andy’s business is not able to pay its debts, and the prospects for its finances to improve are slim. Andy decides not to continue the business. In this case, Andy should file a voluntary petition for which type of bankruptcy?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 6

  1. Shoe Sunshine, Inc. filed for bankruptcy protection under Chapter 11 and submitted a plan of reorganization within 120 days after filing for relief. Two of the classes of creditors voted against the plan. However, the bankruptcy judge considered the plan to be feasible, fair, and in the best interests of the creditors; the judge approved it in spite of these creditors’ objections. This action by the judge is called a “cramdown.”

     

     

3.5 points   

QUESTION 7

  1. Agnes plans to file for bankruptcy under Chapter 7. One month prior to filing, Agnes gives Joe’s Filling Station $700 to apply to her gas bill. Joe has been so kind to let her charge the gas she needed for her car over the past year. The bankruptcy trustee appointed to the case
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 8

  1. Chapters 11 and 13 are liquidation chapters.

     

     

3.5 points   

QUESTION 9

  1. In Chapter 11 bankruptcy, only the debtor may propose plans of reorganization.

     

     

3.5 points   

QUESTION 10

  1. Unlike with patents, the ideas underlying copyrighted material need not be novel.

     

     

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