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Exam (elaborations)

REG CPA QUESTIONS WITH ANSWERS

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CONTRACTS REQUIRING WRITING (MY LEGS) - -MARRIAGE - CONSIDERATION -YEAR - TERMS CANNOT BE COMPLETED IN 1 YEAR -LAND - EXCEPT LEASES LESS THAN 1 YEAR - EXECUTORS - PAY ESTATE DEBTS FROM PERSONAL FUNDS -GOODS - 500 OR MORE - SURETY - TO PAY DEBT OF ANOTHER EXCEPTION TO MY LEGS (SWAP) - -SPECIFIC MFG GOODS -WRITTEN CONFIRMATION -ADMITTED TO COURT -PERFORMED FRAUD IN EXECUTION - PARTY DECEIVED INTO SIGNING SOMETHING THAT DOES NOT LOOK LIKE A CONTRACT FRAUD IN THE INDUCEMENT - DEFRAUDED PARTY IS AWARE OF MAKING A CONTRACT, BUT TERMS ARE MATERIALLY MISREPRESENTED. IN CH 7 WHAT IS THE ORDER OF CLAIMS TO BE PAID - 1. SECURED CREDITORS 2. CHILD SUPPORT + ALIMONY 3. ADMINISTRATIVE CLAIMS 4. INVOLUNTARY GAP CREDITORS 5. UNPAID WAGES TO $13,650 WITHIN 180 DAYS OF FILING 6. TAXES 7. GENERAL UNSECURED CREDITORS

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Institution
REG CPA
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REG CPA

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REG CPA LATEST 2024
CONTRACTS REQUIRING WRITING (MY LEGS) - ✔✔-MARRIAGE - CONSIDERATION

-YEAR - TERMS CANNOT BE COMPLETED IN 1 YEAR

-LAND - EXCEPT LEASES LESS THAN 1 YEAR

- EXECUTORS - PAY ESTATE DEBTS FROM PERSONAL FUNDS

-GOODS - 500 OR MORE

- SURETY - TO PAY DEBT OF ANOTHER



EXCEPTION TO MY LEGS (SWAP) - ✔✔-SPECIFIC MFG GOODS

-WRITTEN CONFIRMATION

-ADMITTED TO COURT

-PERFORMED



FRAUD IN EXECUTION - ✔✔PARTY DECEIVED INTO SIGNING SOMETHING THAT DOES NOT LOOK LIKE A
CONTRACT



FRAUD IN THE INDUCEMENT - ✔✔DEFRAUDED PARTY IS AWARE OF MAKING A CONTRACT, BUT TERMS
ARE MATERIALLY MISREPRESENTED.



IN CH 7 WHAT IS THE ORDER OF CLAIMS TO BE PAID - ✔✔1. SECURED CREDITORS

2. CHILD SUPPORT + ALIMONY

3. ADMINISTRATIVE CLAIMS

4. INVOLUNTARY GAP CREDITORS

5. UNPAID WAGES TO $13,650 WITHIN 180 DAYS OF FILING

6. TAXES

7. GENERAL UNSECURED CREDITORS



NON-DED. LOSSES (WRAP) - ✔✔-WASH SALES

-RELATED PARTY TRANS.
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