QuestionJuly 20, 2025

Neither a corporation nor a partnership is eligible for a discharge in bankruptcy. True or False True False

Neither a corporation nor a partnership is eligible for a discharge in bankruptcy. True or False True False
Neither a corporation nor a partnership is eligible for a discharge in bankruptcy.
True or False
True
False

Solution
4.1(194 votes)

Answer

True Explanation Corporations and partnerships do not receive a discharge in bankruptcy like individuals do. Instead, they may undergo liquidation or reorganization under specific chapters of the Bankruptcy Code without personal liability relief for debts.

Explanation

Corporations and partnerships do not receive a discharge in bankruptcy like individuals do. Instead, they may undergo liquidation or reorganization under specific chapters of the Bankruptcy Code without personal liability relief for debts.
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