On july 1, roger walsh, a sole proprietor operating a grocery, was involuntarily petitioned into bankruptcy by his creditors. at that time, and for at least 90 days prior to that time, walsh was unable to pay current obligations. on june 16, walsh paid the may electric bill for his business. the trustee in bankruptcy claimed that this payment was a voidable preference. was the trustee correct? explain.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

It wil be manufacturing industrie, (a) hope this you.

One stage of the union organizing process involves the legal requirement that at least 30% of the employees in a potential bargaining unit express a desire for union representation by signing union authorization cards.