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31.
(p. 688)
Which of the following exemptions permits a debtor to retain all or a portion of the family
home so that the family will retain some form of shelter?
32.
(p. 688)
What is the amount of the homestead exemption?
33.
(p. 689)
According to the text, which of the following are the classes typically exempt from seizure
to satisfy a debt through a judicial lien?
1. Household goods, appliances, and furniture (usually up to a set value).
2. Clothing.
3. Equity in a vehicle (usually up to a set value).
4. Tools and instruments needed to carry on a trade.
34.
(p. 688)
A[n] ______ is a judicial order authorizing a local law officer to seize and sell any of the
debtor's nonexempt real or personal property within the court's geographic jurisdiction.
35.
(p. 689)
What does the Federal Consumer Credit Protection Act state regarding how much a
debtor's wages may be garnished?
36.
(p. 694-695)
Which of the following was the result in
Cooper Investments v. Conger
, the case
in the text in which guarantors of a note claimed that they were not liable because the terms of
the note had been altered without their consent?
37.
(p. 691)
Which of the following is a claim on property either created by a sales contract or
imposed by a court in the interest of fairness?
38.
(p. 692)
Which of the following is an order that permits the creditor to recover property beyond
foreclosed property?
39.
(p. 695)
Which of the following is true if a debtor engaged in fraud in order to convince a surety or
guarantor to enter into a contract with a third party?
40.
(p. 691)
Which of the following is a claim to property by implication of law rather than statute?
41.
(p. 691)
Which of the following is the lien of a judgment that arises when a motion for a new trial
has been denied?
42.
(p. 691)
Which of the following is a claim to property in which the lienholder has the right to be in
possession of the property until the debt is paid?
43.
(p. 692)
Which of the following is a transfer or assignment by a debtor of title to property to a
trustee or an assignee who sells the property with the proceeds of the sale going to pay creditors
on a pro rata basis?
44.
(p. 693)
Which of the following may occur when a third party agrees to be liable for a debtor's loan
either primarily or secondarily?
45.
(p. 693)
A ______ is a contract between a creditor and a third party who agrees to pay another
person's debt and is primarily liable for the debt whereas in a ______, a third party, must pay a
debt only after the debtor has defaulted.
46.
(p. 695)
If a surety or guarantor pays the debtor's obligation to the creditor, the surety or
guarantor has a right to ______, which means that the surety or guarantor is entitled to all the
rights that the creditor had against the debtor.
47.
(p. 694)
Which of the following is true if a guarantor's oral promise to pay a debt is not in writing?
48.
(p. 683)
Which of the following is the type of lien that Rex would likely seek?
