Question
What does it mean for an asset to be exempt in bankruptcy?
a. The asset costs less than $50,000.
b. The asset can't be sold to creditors.
c. The asset's value can't be determined by creditors.
d. You can't sell the asset on your own to pay off your debts.
e. You own the asset jointly with someone else.
a. The asset costs less than $50,000.
b. The asset can't be sold to creditors.
c. The asset's value can't be determined by creditors.
d. You can't sell the asset on your own to pay off your debts.
e. You own the asset jointly with someone else.
Answers
GPT 3.5
b. The asset can't be sold to creditors.