HOME MEMBERSHIP CALENDAR JUDICIAL COUNCIL 

FORMS KNOW YOUR 

JUDGES DAILY 

EBRIEFS LA LAWYER




    For Attorneys
    For the Public
    About Us
    Jobs
    Counsel For Justice
    Law Students
    My Account


LACBA on Facebook.
LACBA on Twitter.
LACBA on LinkedIn.



 

Los Angeles Lawyer
The Magazine of the Los Angeles County Bar Association


 
 

November 2008     MCLE Test and Answer Sheet

Test No. 175: Disclose or Dismiss

 
 

Instructions for Obtaining MCLE Credit

The Los Angeles County Bar Association certifies that this activity has been approved for Minimum Continuing Legal Education elimination of bias credit by the State Bar of California in the amount of 1 hour. To apply for credit, please follow the instructions.

1. Study the CLE article.

2. Answer the test questions by marking the appropriate boxes. Each question has only one answer.

3. Photocopies of this answer sheet may be submitted; however, this form should not be enlarged or reduced. Mail the answer sheet and the $15 testing fee ($20 for non-LACBA members) to:

Los Angeles Lawyer
MCLE Test
P.O. Box 55020
Los Angeles, CA 90055 

Make checks payable to Los Angeles Lawyer.

4. You can also fill in the test form and submit it directly to LACBA by clicking "Submit." To submit your test answers online you will need to pay by credit card. After submitting your answers you will be presented with a screen requesting payment information. This information will be submitted in a secure mode which will allow you to safely transmit your credit card number over the Internet. If you prefer not to pay by credit card, please print this answer sheet and submit your responses by regular mail.

5. Within six weeks, Los Angeles Lawyer will return your test with the correct answers, a rationale for the correct answers, and a certificate verifying the CLE credit you earned through this self-assessment activity.

6. For future reference, please retain the CLE test materials returned to you.

 
 Test Sheet
 
 

Mark your answers to the test by clicking next to your choice.  All questions must be answered.  Each question has only one answer. This test is worth 1 hour of credit.*

1. A bankruptcy estate consists of the legal interests of a debtor at the time of the commencement of a bankruptcy case.
 True.
 False.

2. Under U.S. Bankruptcy Code Section 541(a)(1), a debtor must identify both tangible and intangible property when filing a petition and supplemental documents, including schedules, with the bankruptcy court.
 True.
 False.

3. Federal law does not include a prebankruptcy petition cause of action as intangible property in the evaluation of the debtor's property.
 True.
 False.

4. All property possessed by the debtor at the time of filing a bankruptcy petition must be disclosed under Section 541(a)(1).
 True.
 False.

5. A trustee in bankruptcy does not have a right of succession to a cause of action held by a debtor at the time a bankruptcy petition is filed.
 True.
 False.

6. A debtor must file schedules with a bankruptcy petition, except:
 A. A schedule of assets and liabilities.
 B. A schedule of current income and expenditures.
 C. A schedule of pending causes of action.

7. A debtor does not need to disclose assets deemed to be worthless or unavailable when filing a petition for bankruptcy.
 True.
 False.

8. Under Section 522(b), an exemption is an interest withdrawn from the estate for the benefit of the debtor.
 True.
 False.

9. Courts have held that debtors who fail to disclose a cause of action at the time of filing their bankruptcy petitions lack standing to subsequently bring a civil claim.
 True.
 False.

10. A debtor loses the right to pursue a civil claim if he or she either fails to disclose the claim or the trustee fails to ask about the claim.
 True.
 False.

11. A court's refusal to allow a party to assert a position and then later seek advantage by taking a clearly inconsistent position is commonly known as:
 A. Equitable estoppel.
 B. Judicial estoppel.
 C. Res judicata.
 D. Statutory estoppel.

12. Which of the following is not a factor that a court will consider when determining whether to apply judicial estoppel?
 A. The subsequent position asserts an unrecognized claim.
 B. The subsequent position is inconsistent with the first.
 C. A party would gain an unfair advantage if the subsequent position is advanced.
 D. A party has convinced a previous court of its position.

13. The Ninth Circuit has held that a debtor need not disclose litigation likely to arise in the nonbankruptcy context.
 True.
 False.

14. A debtor's duty to disclose potential claims as assets does not end when the debtor files schedules but continues for the duration of the bankruptcy proceeding.
 True.
 False.

15. A debtor's failure to disclose is inadvertent only when the debtor either lacks knowledge of the undisclosed claims or has a fraudulent motive to conceal.
 True.
 False.

16. A debtor may correct a prior nondisclosure of a pending civil action as long as the bankruptcy proceeding is ongoing.
 True.
 False.

17. Parties asserting judicial estoppel may raise an inference of bad faith if they show a motive to conceal the claim by the debtor.
 True.
 False.

18. If a party asserts judicial estoppel against a debtor, courts have held that the same party bears the burden of production indicating that nondisclosure was in good faith.
 True.
 False.

19. Once a party establishes that the debtor had knowledge of the claim and a motive to conceal it, the inquiry does not end if the debtor comes forward with rebuttal evidence.
 True.
 False.

20. A debtor who conceals a pending civil action during a bankruptcy proceeding may lose both legal and equitable rights to pursue the action as a consequence.
 True.
 False.

Address and Billing

After submitting your answers you will be asked to enter your name, address, and payment information on the next screen. Once you have submitted the current form, you will be switched to a secure mode which will allow you to safely transmit your credit card number over the Internet.

If you do not wish to complete this transaction over the Internet you should print this page and send it to the address listed in Step 3 of the instructions at the top of this page.


 
Before clicking the Submit button, please verify that all questions have been answered. An error message will appear if not all questions are answered.

* The Los Angeles County Bar Association has been approved as a continuing legal education provider of Minimum Continuing Legal Education credit by the State Bar of California. This self-assessment activity will qualify for Minimum Continuing Legal Education credit by the State Bar of California in the amount of one hour.

 


 
  
 

Copyright 2008, Los Angeles Lawyermagazine. All Rights Reserved.

 

   
Los Angeles Lawyer
 
 
 
 
       
   
General Information
 
 
 
 
 
 
 
 
       
   
 
 
 
Online MCLE
 
 
 
 
Plus: Earn MCLE Credit