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Question
Roy, the owner of Standard Business Company (SBC), sells SBC to Tim for a note payable to Roy for $100,000. Tim does not pay the note and files for bankruptcy under Chapter 7. The debt represented by the note isb. dischargeable if $100,000 now seems to be a high price for SBC.
d. dischargeable under any circumstances.
a. not dischargeable if Tim concealed assets to defraud Roy.
c. not dischargeable under any circumstances.
Answer
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