Bankruptcy – NBC Institute

BL – Nov 2012 – L1 – SA – Q19 – Contract Law

Identify the legal activity that an undischarged bankrupt is not incapacitated from doing.

Question

An undischarged bankrupt is NOT legally incapacitated to do ONE of the following:

A. To marry a wife
B. To be elected into an elective office
C. To be appointed to or to act in the office of a Justice of Peace
D. To be appointed as a trustee of a trust estate
E. To be admitted to serve on a governing board of a statutory institution

Answer

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Tags: Bankruptcy, Legal Incapacities
Level: Level 1

Topic: Contract Law
Series: NOV 2012

BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking

State three reasons a creditor may present a bankruptcy petition against a debtor.

Question

Explain THREE reasons for which a creditor shall be entitled to present a bankruptcy petition against a debtor.

Answer

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Tags: Bankruptcy, Creditor’s Petition, Liquidated Debt
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking

This question tests the authority of the court regarding the discharge of a bankrupt.

Question

Which court has the power to order the discharge of a bankrupt?

Answer

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Tags: Bankruptcy, Court Authority, Discharge
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2013 – L1 – SA – Q20 – Law of Trusts

This question tests knowledge of which entities cannot be declared bankrupt.

Question

Which of the following CANNOT be made a bankrupt?

A. A company
B. A Nigerian
C. A partnership
D. A foreigner who lives in Nigeria
E. A foreigner who has a place of business in Nigeria

Answer

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Tags: Bankruptcy, Insolvency, Legal Status
Level: Level 1

Topic: Law of Trusts
Series: MAY 2013

BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking

This question tests the knowledge of the official responsible for administering a debtor's estate in bankruptcy.

Question

The person charged with the duty of administering a debtor’s estate in a bankruptcy proceeding is known as the:

A. Liquidator
B. Official Receiver
C. Registrar of the Supreme Court
D. Auctioneer
E. Executor

Answer

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Tags: Bankruptcy, Insolvency, Official Receiver
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking

Identifying the term for a bankruptcy petition against a common debtor.

Question

Bankruptcy petition by a group of creditors who acts together against a common debtor who is known to be insolvent is a ____________.

Answer

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Tags: Bankruptcy, Creditors, Insolvency
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2014

BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking

Identifying which court has original jurisdiction in bankruptcy cases.

Question

The court that has original jurisdiction to entertain a suit on bankruptcy is:
A. State High Court
B. Sharia Court of Appeal
C. National Industrial Court
D. Customary Court of Appeal
E. Federal High Court

Answer

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Tags: Bankruptcy, Court Jurisdiction, Legal Procedure
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2014

BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

Question

A debtor who could not pay his debts or meet his legal financial obligations may be insolvent.

You are required to:
State THREE acts of bankruptcy for which bankruptcy proceedings may be instituted against a debtor.

Answer

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Tags: Bankruptcy, Insolvency, Legal Financial Obligations
Level: Level 1

Topic: Agency Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Question about the minimum debt amount required to file a bankruptcy petition.

Question

A creditor shall not be entitled to present a bankruptcy petition against the debtor where the debt is less than ……………………………………….

Answer

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Tags: Bankruptcy, Creditor, Debt Threshold, Debtor, Legal Proceedings
Level: Level 1

Topic: Law of Trusts
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

Question

A debtor is said to be bankrupt when

A. A creditor obtains a final court order against him
B. A court declares that he is solvent
C. He pays his debts
D. He promises to pay his creditors
E. The creditors do not trust him

Answer

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Tags: Bankruptcy, Creditor's Rights, Insolvency Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2012 – L1 – SA – Q19 – Contract Law

Identify the legal activity that an undischarged bankrupt is not incapacitated from doing.

Question

An undischarged bankrupt is NOT legally incapacitated to do ONE of the following:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Legal Incapacities
Level: Level 1

Topic: Contract Law
Series: NOV 2012

BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking

State three reasons a creditor may present a bankruptcy petition against a debtor.

Question

Explain THREE reasons for which a creditor shall be entitled to present a bankruptcy petition against a debtor.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Creditor’s Petition, Liquidated Debt
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking

This question tests the authority of the court regarding the discharge of a bankrupt.

Question

Which court has the power to order the discharge of a bankrupt?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Court Authority, Discharge
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2013 – L1 – SA – Q20 – Law of Trusts

This question tests knowledge of which entities cannot be declared bankrupt.

Question

Which of the following CANNOT be made a bankrupt?

A. A company
B. A Nigerian
C. A partnership
D. A foreigner who lives in Nigeria
E. A foreigner who has a place of business in Nigeria

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Insolvency, Legal Status
Level: Level 1

Topic: Law of Trusts
Series: MAY 2013

BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking

This question tests the knowledge of the official responsible for administering a debtor's estate in bankruptcy.

Question

The person charged with the duty of administering a debtor’s estate in a bankruptcy proceeding is known as the:

A. Liquidator
B. Official Receiver
C. Registrar of the Supreme Court
D. Auctioneer
E. Executor

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Insolvency, Official Receiver
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking

Identifying the term for a bankruptcy petition against a common debtor.

Question

Bankruptcy petition by a group of creditors who acts together against a common debtor who is known to be insolvent is a ____________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Creditors, Insolvency
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2014

BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking

Identifying which court has original jurisdiction in bankruptcy cases.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Court Jurisdiction, Legal Procedure
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2014

BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

Question

A debtor who could not pay his debts or meet his legal financial obligations may be insolvent.

You are required to:
State THREE acts of bankruptcy for which bankruptcy proceedings may be instituted against a debtor.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Insolvency, Legal Financial Obligations
Level: Level 1

Topic: Agency Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Question about the minimum debt amount required to file a bankruptcy petition.

Question

A creditor shall not be entitled to present a bankruptcy petition against the debtor where the debt is less than ……………………………………….

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Creditor, Debt Threshold, Debtor, Legal Proceedings
Level: Level 1

Topic: Law of Trusts
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

Question

A debtor is said to be bankrupt when

A. A creditor obtains a final court order against him
B. A court declares that he is solvent
C. He pays his debts
D. He promises to pay his creditors
E. The creditors do not trust him

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Creditor's Rights, Insolvency Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

Question Tag: Bankruptcy

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BL – Nov 2012 – L1 – SA – Q19 – Contract Law

Identify the legal activity that an undischarged bankrupt is not incapacitated from doing.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q19 – Contract Law"

BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking

State three reasons a creditor may present a bankruptcy petition against a debtor.

You're reporting an error for "BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking

This question tests the authority of the court regarding the discharge of a bankrupt.

You're reporting an error for "BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q20 – Law of Trusts

This question tests knowledge of which entities cannot be declared bankrupt.

You're reporting an error for "BL – May 2013 – L1 – SA – Q20 – Law of Trusts"

BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking

This question tests the knowledge of the official responsible for administering a debtor's estate in bankruptcy.

You're reporting an error for "BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking"

BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking

Identifying the term for a bankruptcy petition against a common debtor.

You're reporting an error for "BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking"

BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking

Identifying which court has original jurisdiction in bankruptcy cases.

You're reporting an error for "BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking"

BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

You're reporting an error for "BL – Nov 2013 – L1 – SB – Q6b – Agency Law"

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Question about the minimum debt amount required to file a bankruptcy petition.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts"

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking"

BL – Nov 2012 – L1 – SA – Q19 – Contract Law

Identify the legal activity that an undischarged bankrupt is not incapacitated from doing.

You're reporting an error for "BL – Nov 2012 – L1 – SA – Q19 – Contract Law"

BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking

State three reasons a creditor may present a bankruptcy petition against a debtor.

You're reporting an error for "BL – May 2013 – L1 – SB – Q6A – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking

This question tests the authority of the court regarding the discharge of a bankrupt.

You're reporting an error for "BL – May 2013 – L1 – SA – Q20 – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q20 – Law of Trusts

This question tests knowledge of which entities cannot be declared bankrupt.

You're reporting an error for "BL – May 2013 – L1 – SA – Q20 – Law of Trusts"

BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking

This question tests the knowledge of the official responsible for administering a debtor's estate in bankruptcy.

You're reporting an error for "BL – May 2013 – L1 – SA – Q11 – Law Relating to Banking"

BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking

Identifying the term for a bankruptcy petition against a common debtor.

You're reporting an error for "BL – May 2014 – L1 – SA – Q19 – Law Relating to Banking"

BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking

Identifying which court has original jurisdiction in bankruptcy cases.

You're reporting an error for "BL – May 2014 – L1 – SA – Q20 – Law Relating to Banking"

BL – Nov 2013 – L1 – SB – Q6b – Agency Law

Stating three acts of bankruptcy for which proceedings may be instituted.

You're reporting an error for "BL – Nov 2013 – L1 – SB – Q6b – Agency Law"

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Question about the minimum debt amount required to file a bankruptcy petition.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts"

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking"

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