Question

Dave has forty acres where he grows corn and soybeans. he also has five milk cows and some chickens. dave sells organic milk and eggs at the local farmers' market. he also drives a school bus. most years, about 70% of dave's income is from his agricultural activities and 30% is from his school bus-driving job. if dave declares bankruptcy, he will file under:_______. a. chapter 13.b. chapter 12.c. chapter 1.d. chapter 7.

Answer 1

B) chapter 12

Step-by-step explanation:

Chapter 12 bankruptcy is a special reorganization bankruptcy procedure that applies for family farmers and fisherman only. It is very similar to chapter 13 bankruptcy but provides several additional benefits aimed at helping the farmers and fishermen restructure their debts to avoid foreclosures or liquidations.