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Question
Sally files for bankruptcy. On behalf of Sally's estate, a trustee could reclaim Sally's recent payment ofa. last month's phone bill.
b. the previous two months' utility bills.
c. a year-old restaurant tab.
d. back taxes.
Answer
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Related questions
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d. all of the above.
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Fact Pattern 41-1
Adam, a director of Beta Computer Company, learns that a Beta engineer has developed a new, significantly faster computer chip. Adam buys Beta stock and tells his friend Cathy, who also buys Beta stock. When the new chip is announced three weeks later, Adam and Cathy sell their stock for a big profit.
Refer to Fact Pattern 41-1. Regarding Adam's profits on the purchase and sale of Beta stock, under Section 16(b) of the Securities Exchange Act of 1934 Beta may recapture
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Q:
Fact Pattern 41-1
Adam, a director of Beta Computer Company, learns that a Beta engineer has developed a new, significantly faster computer chip. Adam buys Beta stock and tells his friend Cathy, who also buys Beta stock. When the new chip is announced three weeks later, Adam and Cathy sell their stock for a big profit.
Refer to Fact Pattern 41-1. Under SEC Rule l0b-5, Adam would not be liable if he had waited to buy Beta stock until
a. after Adam told Cathy of the new chip.
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d. just before the chip was announced.
Q:
To raise capital to form Apex Corporation with Bert, Carla sells bonds and stock in other companies, and plans to register an initial public offering under the Securities Act of 1933. SEC Rule l0b-5 covers
a. most forms of securities.
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Alpha, Inc., a corporation traded on a national stock exchange, wants to offer bonds for sale to the public. Beta Insurance Company, a state-regulated insurance company, wants to offer annuity contracts for sale to the public. Before any sale, registration must be made with the SEC for
a. Alpha's bonds and Beta's annuity contracts.
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c. Beta's annuity contracts only.
d. neither Alpha's bonds nor Beta's annuity contracts.
Q:
Consumer Products Corporation wants to make an offering of securities to the public. This offering is not exempt from registration under the Securities Act of 1933. Before the firm sells its securities, it must provide investors with
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Q:
Generally, states have disclosure requirements patterned after federal securities law.
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Private parties cannot sue violators of Section 10(b) and Rule 10b-5.
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Any corporation with more than $10 million in assets must register with the Securities and Exchange Commission.
Q:
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a. for a violation of a treaty of the United States only.
b. for a violation of a treaty of the United States or of the law of nations.
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a. a confiscation.
b. a dumping.
c. a licensing.
d. an expropriation.
Q:
China and India form an agreement to govern their commercial exchanges with one another. This is
a. a bilateral agreement.
b. a lateral agreement.
c. a multilateral agreement.
d. a unilateral agreement.
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