The ABCs of Debt A Case Study Approach to Debtor Creditor Relations and Bankruptcy Law, Fifth Edition Stephen P. Parsons

Test Bank For The Basics of Debt: A Case Study Method to Debtor/Creditor Relationships and Bankruptcy Law, Fifth Edition by Stephen P. Parsons

• ISBN-10 ‏ : ‎ 154380103X
• ISBN-13 ‏ : ‎ 978-1543801033

The Basics of Debt: A Case Study Method to Debtor/Creditor Relationships and Bankruptcy Law, Fifth Edition bridges the gap between grasping bankruptcy principles and applying them confidently. Parsons starts with the notion that delving into bankruptcy requires a solid grounding in other facets of debtor/creditor relationships. This foundational understanding is underlined by realistic, contemporary case studies that introduce, elucidate, and exemplify bankruptcy law and procedure. Students witness the progression of a bankruptcy case, from the initial contact between a debtor and an attorney to the case’s conclusion. This chronological, step-by-step methodology is employed to examine cases filed under Chapter 7, Chapter 13, and Chapter 11. The objective of this book is not just to educate students ‘‘about’’ bankruptcy, but also to instruct on how to ‘‘practice’’ bankruptcy. The extensive coverage includes bankruptcy law, debt generation, secured transactions, liens legislation, and debt recovery.

What’s New in the Fifth Edition:

• Updated to incorporate noteworthy court rulings concerning debt recovery and bankruptcies including:
  • Czyzewski v. Jevic Holding Corp: which invalidated structured settlements regarding a Chapter 11 debtor that conflict with §507 priorities unless impacted creditors consent
  • Midland Funding, LLC v. Johnson: U.S. decision stating that the submission of a past-due claim does not constitute a false, misleading, deceptive, unfair, or unconscionable debt collection practice as defined in the Fair Debt Collection Practices Act
  • Lamar, Archer & Cofrin, LLP, v. Appling: ruling that a materially false written statement about a single asset can qualify as a “statement concerning the debtor’s financial status,” making the related debt nondischargeable under §523(a)(2)(B)
  • Epic Systems Corp. v. Lewis: decision that private-sector non-union employers can employ class action arbitration waiver clauses to prevent employees from participating in collective arbitration to contest alleged wage and hour violations
• Updated references related to the Consumer Financial Protection Bureau and the Department of Education (student loans), payday lending, and vehicle loans
• Analysis of the triggers of bankruptcy for individuals aged 65 and above
• Practice bankruptcies relocated to appendices for convenient access
• Revised case studies in compliance with the latest amendments to the official bankruptcy forms effective at the time of publication, including the significant new Form B113, Chapter 13 Plan approved by the U.S. Judicial Conference in 2017

Educators and learners will receive the following benefits:

• Realistic Case Studies enhancing the practical aspect of studying bankruptcy law
• Problem-Hypotheticals where students apply concepts to real-life scenarios
• Learn-by-Doing exercises, instances, and illustrations
• A structured organization of bankruptcy topics mirroring real-world practice
• Ethical Considerations highlighting pertinent ethical or professional dilemmas posed by the topic at hand
• Chapter summaries, review queries, and template forms
• View from the Bench case snippets, complemented by Applying the Law exercises, linking theory to application
• Engaging and informative text panels
• Key Concepts at the commencement of each chapter
• Comprehensive Case Files for both case studies—provided for students on the companion website at WKLegaledu.com/Parsons-Debt5 and referenced throughout the chapter