Unlike Chapter 7 proceedings, debtors in Chapter 11 proceedings:

A. Retain ownership of his property and may continue in business under the specific guidelines of the reorganization plan.

B. Have no obligation to repay any discharged debts

C. Can re-file for bankruptcy every 12 months

D. All of the above

If an agent enters into a contract with a third party on behalf of a principal without having either actual or implied authority to do so, the principal:

• A. is bound on the contract, but the agent is not
• B. is not bound on the contract, but the agent is
• C. is not bound on the contract, and neither is the agent
• D. is bound on the contract, and so is the agent