True/False 1.Under the business judgment rule, directors cannot be held liable for bad faith, fraud, or a breach of fiduciary duties. 2.Directors are prevented from ever having financial dealings with the corporations they serve. 3.Because collective bargaining over certain subjects is considered mandatory, a . partys refusal to bargain over these subjects is an unfair labor practice. 4.The UCC requires a written contract for a sale of goods to be enforceable when . the price of the goods is $750 or more.

5.In a Chapter 7 bankruptcy, the debtor can use the Homestead Exemption under

the Federal Bankruptcy Law or the provided for under NYS law.

6.The moment a petition, either voluntary or involuntary, is filed, an automatic stay,

or suspension, of all actions by creditors against the debtor or the debtors

property goes into effect.

7. Under certain circumstances, the Trustee in Bankruptcy may avoid

fraudulent transfers.

8. The mortgagor is the creditor.

9.

Claims by creditors who were not notified of the bankruptcy are not

dischargeable.

10.

In a partnership, the partners have limited liability.