During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. The Concept of Law is a 1961 book by the legal philosopher HLA Hart and his most famous work. The state's public holidays are Id al-Fitr and Id al-Adha.Its calendar is the Hegira calendar. The attorney must also certify that the debtor was fully informed and voluntarily made the agreement and that reaffirmation of the debt will not create an undue hardship for the debtor or the debtor's dependants. Chapter 7 14. §§ 101(41), 109(b). 11 U.S.C. § 524(k). If you are deciding if bankruptcy is right for you, the first step is to learn about bankruptcy. Chapter 7 bankruptcy is a court-supervised process that allows individuals to eliminate their personal liability for most types of debt and receive a fresh start. Choose from 500 different sets of law vocabulary chapter 7 flashcards on Quizlet. The title of the Chapter has been changed to reflect this. The bankruptcy administrator program is administered by the Administrative Office of the United States Courts, while the U.S. trustee program is administered by the Department of Justice. The Hong Kong Special Administrative Region may, as necessary, establish official or semi-official economic and trade missions in foreign countries and shall report the establishment of such missions to the Central People's Government for the record. A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. R. Bankr. The trustee's avoiding powers include the power to: set aside preferential transfers made to creditors within 90 days before the petition; undo security interests and other prepetition transfers of property that were not properly perfected under nonbankruptcy law at the time of the petition; and pursue nonbankruptcy claims such as fraudulent conveyance and bulk transfer remedies available under state law. R. Bankr. The debtor must attend the meeting and answer questions regarding the debtor's financial affairs and property. The Basic Laws of Israel (Hebrew: חוקי היסוד ‎ ‎, romanized: χuke ha-yesod) are 14 constitutional laws of the State of Israel, and some of them can only be changed by a supermajority vote in the Knesset (with varying requirements for different Basic Laws and sections). For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. The bankruptcy law prevents people from repeatedly running up debts and having them discharged in bankruptcy court. Unsecured debts are debts not secured with collateral, including most personal loans and credit cards. section of this chapter. Much of the bankruptcy process is administrative, however, and is conducted away from the courthouse. The socialist system is the fundamental system of the People’s Republic of China. 7 Factors that affect Quality Online Instruction. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement … Businesses choosing to terminate their enterprises may also file Chapter 7. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to "catch up" past due payments through a payment plan. Having said that, each state as well as the federal government has enacted legislation that dictates what property debtors can keep through the Chapter 7 bankruptcy process. They are not available from the court.). Article 1 The People’s Republic of China is a socialist state governed by a people’s democratic dictatorship that is led by the working class and based on an alliance of workers and peasants. Chapter 7, entitled Liquidation, contemplates an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor’s estate, reduces them to cash, and makes distributions to creditors, subject to the debtor’s right to retain certain exempt property and the rights of secured creditors. You'll file the bankruptcy petition. For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. battery. If the U.S. trustee or bankruptcy administrator (5) schedules the meeting at a place that does not have regular U.S. trustee or bankruptcy administrator staffing, the meeting may be held no more than 60 days after the order for relief. Because a chapter 7 discharge is subject to many exceptions, debtors should consult competent legal counsel before filing to discuss the scope of the discharge. A husband and wife may file a joint petition or individual petitions. §§ 701, 704. § 524(c). Accordingly, the debtor is not particularly interested in the trustee's disposition of the estate assets, except with respect to the payment of those debts which for some reason are not dischargeable in the bankruptcy case. From Dismemberment to Discharge: The History and Basic Law of Consumer Bankruptcy in Chapter 7. In Chapter 7 bankruptcy, the bankruptcy trustee cancels many (or all) of your debts. Chapter 5 10. Terms in this set (23) A physician who performs a surgical procedure on a patient without obtaining the patient's consent may be liable for. The law, therefore, refers to classes of persons and classes of acts and things. Basic Law Full Text - PDA - chapter (3) Chapter III Fundamental Rights and Duties of the Residents Article 24 Residents of the Hong Kong Special Administrative Region ("Hong Kong residents") shall include permanent residents and non-permanent residents. Chapter VIII Interpretation and Amendments of the Basic Law . There is no fee for converting from chapter 7 to chapter 13. Flashcards. Chapter 7 is the most common form of bankruptcy. The establishment of foreign consular and other official or semi-official missions in the Hong Kong Special Administrative Region shall require the approval of the Central People's Government. Exempt Property. § 343. Gravity. Section 7 Swearing Allegiance. The dynamic behavior is described in terms of the time rate of change of the robot configuration in relation to the joint torques exerted by the actuators. The judge will then take bids and sell the assets to the highest bidder. 32 terms. Id. 11 U.S.C. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. R. Bankr. § 727; Fed. Chapter 7, Formalism and Rule-Skepticism Summary and Analysis. 11 U.S.C. Chapter 7 bankruptcy is a legal process that can help individuals get relief from debts by discharging — or clearing — some or all of what’s owed. Chapter 13: You must wait two years after you file the first chapter 13 bankruptcy to get a second discharge. Chapter VII External Affairs Article 150 Representatives of the Government of the Hong Kong Special Administrative Region may, as members of delegations of the Government of the People's Republic of China, participate in negotiations at the diplomatic level directly affecting the Region conducted by the Central People's Government. The debtor will continue to be liable for these types of debts to the extent that they are not paid in the chapter 7 case. Terms in this set (9) Complicity. Chapter 1 General Principles [] Article 1. Street Law Chapter 7 Crime in America. Important Notice . § 707(b)(1). Test. If it is more than the median, however, you must pass "the means test" -- … Trustee Appointment and Meeting of Creditors. P. 4007(c). Chapter 7 of Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States, in contrast to Chapters 11 and 13, which govern the process of reorganization of a debtor. Chapter V Economy . When you file for Chapter 7, you lose control of the company. An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. (b) Notice and Effect.—Any action taken by the Register in response to a national emergency pursuant to subsection (a) shall not be subject to section 701(e) or subchapter II of chapter 5 of title 5, United States Code, and chapter 7 of title 5, United States Code. Chapter 7 is the most common type of bankruptcy and is often referred to as a straight bankruptcy. Gravity. In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution. International agreements to which the People's Republic of China is not a party but which are implemented in Hong Kong may continue to be implemented in the Hong Kong Special Administrative Region. Roadways to the Federal Bench: Who Me? Basic Law Full Text - index.html Printed version: available free of charge at any of the District Offices under the Home Affairs Department PDF version: click here to download HTML version: see below Important Notice. Understanding Chapter 7 Bankruptcy Counseling and Forms. The court may revoke a chapter 7 discharge on the request of the trustee, a creditor, or the U.S. trustee if the discharge was obtained through fraud by the debtor, if the debtor acquired property that is property of the estate and knowingly and fraudulently failed to report the acquisition of such property or to surrender the property to the trustee, or if the debtor (without a satisfactory explanation) makes a material misstatement or fails to provide documents or other information in connection with an audit of the debtor's case. 11 U.S.C. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property. Secured creditors may retain some rights to seize property securing an underlying debt even after a discharge is granted. 11 U.S.C. According to the circumstances of each case, consular and other official missions established in Hong Kong by states which have no formal diplomatic relations with the People's Republic of China may be permitted either to remain or be changed to semi-official missions. 11 U.S.C. Here's an outline of Spell. 11 U.S.C. In addition, individual debtors who have regular income may seek an adjustment of debts under chapter 13 of the Bankruptcy Code. Basic Criminal Law, Fifth Edition, provides a thorough grounding in criminal law, its history, how it is practiced today, and what trends will take it into the future. Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began). Fundamental rights (German: Grundrechte) are guaranteed in Germany by the Federal Constitution and in some state constitutions.In the Basic Law, most fundamental rights are guaranteed in the first section of the same name (Articles 1 to 19). These fundamental rights cannot be removed from the constitution, and no constitutional amendment may 'affect their essence'. Content. §§ 109, 111. The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives. § 524(k). Income criteria established by bankruptcy law determine which debtors may file for Chapter 7 bankruptcy. Chapter 8 16. The debtor has no liability for discharged debts. Id. § 1930(a); Fed. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Beginning in Ancient Rome and journeying to modern bankruptcy law in the United States, this presentation offers an overview of the history and current substantive law of so-called straight consumer bankruptcy in the United States under chapter 7 of the United States Bankruptcy Code. If all the debtor's assets are exempt or subject to valid liens, the trustee will normally file a "no asset" report with the court, and there will be no distribution to unsecured creditors. Download chapter 7 activity basic concepts street law answer key document. The Central People's Government shall authorize the Government of the Hong Kong Special Administrative Region to issue, in accordance with law, passports of the Hong Kong Special Administrative Region of the People's Republic of China to all Chinese citizens who hold permanent identity cards of the Region, and travel documents of the Hong Kong Special Administrative Region of the People's Republic of China to all other persons lawfully residing in the Region. If you don't see any interesting for you, use our search form on bottom ↓ . Chapter 8 : Control Bodies [ … The purpose of this site is to provide information from and about the Judicial Branch of the U.S. Government. Fed. Effective Workplace Communication Skills. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. The debtor is only paid if all other classes of claims have been paid in full. 11 U.S.C. 28 U.S.C. Basic Law of Saudi Arabia. Section 7 Swearing Allegiance . Here you'll find overview articles explaining what bankruptcy is, the difference between Chapter 7 and Chapter 13 bankruptcy, how each type of bankruptcy works, and what bankruptcy can and cannot do. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this ad… Write. In a situation where only one spouse files, the income and expenses of the non-filing spouse are required so that the court, the trustee and creditors can evaluate the household's financial position. A creditor in a chapter 7 case who has a lien on the debtor's property should consult an attorney for advice. But it must be court approved, so a hearing will be held after notice to all interested persons. They modelled these new laws after the image of Chapter 11 of the U.S. Bankruptcy Code. If a debt management plan is developed during required credit counseling, it must be filed with the court. If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. Preamble . With the court's permission, however, individual debtors may pay in installments. The Hong Kong Special Administrative Region may on its own, using the name "Hong Kong, China", maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the appropriate fields, including the economic, trade, financial and monetary, shipping, communications, tourism, cultural and sports fields. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting and answer questions. It is available to individuals who cannot make regular, monthly, payments toward their debts. The Bankruptcy Code requires a reaffirmation hearing if the debtor has not been represented by an attorney during the negotiating of the agreement, or if the court disapproves the reaffirmation agreement. The individual debtor's primary concerns in a chapter 7 case are to retain exempt property and to receive a discharge that covers as many debts as possible. § 523(c); Fed. §§ 109(g), 362(d) and (e). § 522(m). Chapter 7. The application to the Hong Kong Special Administrative Region of international agreements to which the People's Republic of China is or becomes a party shall be decided by the Central People's Government, in accordance with the circumstances and needs of the Region, and after seeking the views of the government of the Region. The Bankruptcy Code allows an individual debtor (4) to protect some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor's home state. On this page you can read or download chapter 7 activity basic concepts street law answer key in PDF format. STUDY. Within 10 days of the creditors' meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. Chapter 7: You have to wait eight years after you file the first chapter 7 bankruptcy. Learn. Each debtor in a joint case (both husband and wife) can claim exemptions under the federal bankruptcy laws. The courts must charge a $245 case filing fee, a $75 miscellaneous administrative fee, and a $15 trustee surcharge. P. 1006(b); Bankruptcy Court Miscellaneous Fee Schedule, Item 8. Fed. Chapter 6 12. Do' s and Don’ts Most people would agree that the law governs human behaviour by rules. § 502(b)(9). The stay arises by operation of law and requires no judicial action. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor. Polieus. Learn constitution law chapter 7 with free interactive flashcards. Instrument 7 Decision of the Standing Committee of the National People’s Congress on the Addition to the List of National Laws in Annex III to the Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China (Adopted on 27 October 2005) 123 § 524(d) and (m). If you’re liable for any of the business debt, this might cause a problem. At the same time, the trustee might also sell (liquidate) some of your property to repay your creditors. Similarly, Chapter 7 will discharge your unsecured debts such as medical bills and credit card debt. The trustee can't take all your assets. 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