Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy Code on September 30, 2017.

Question:

Freelin Conn filed a voluntary petition under Chapter 7 of the Bankruptcy Code on September 30, 2017. Conn listed BancOhio National Bank as having a claim incurred in October 2016 in the amount of $4,000 secured by an eight-year-old automobile. The car is listed as having a market value of $3,500. During the period from June 30, 2017, to September 30, 2017, Conn madethree payments totaling $439.17 to BancOhio. May the trustee in bankruptcy set aside those three payments as voidable preferences? Explain.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Smith and Robersons Business Law

ISBN: 978-1337094757

17th edition

Authors: Richard A. Mann, Barry S. Roberts

Question Posted: