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In English and American law, a judgment debtor is a person against whom a judgment ordering him to pay a sum of money has been obtained and remains unsatisfied. Such a person may be examined as to their assets, and if the judgment debt is of the necessary amount he may be made bankrupt if he fails to comply with a bankruptcy notice (in US law, an involuntary petition) served on him by the ...
Power to require security from, or impose conditions upon, judgment-debtor. 27 Liability of judgment-debtor discharged. 28 Order of Court which passed decree or of Appellate Court to be binding upon Court applied to. 29 Stay of execution pending suit between decree-holder and judgment-debtors.
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
A writ of fieri facias (colloquially "fi fa") commands a sheriff to take and auction off enough property from a losing party to pay the debt (plus interest and costs) owed by a judgment debtor. A writ of mittimus orders either (1) a court to send its record to another or (2) a jailor to receive the accused in their custody at any point during ...
In this regard the judgement summons procedure may be seen as a more extreme—because of the threat of imprisonment—version of the procedure under the Civil Procedure Rules [2] procedure to obtain information from judgment debtors. A judgment summons may now be served by post in keeping with other Civil Procedure Rules actions but, if this ...
A charging order, in English law, is an order obtained from a court or judge by a judgment creditor, by which the property of the judgment debtor in any stocks or funds or shares in a limited liability company or land stands charged with the payment of the amount for which judgment shall have been recovered, with interest and costs.
A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower.
In some states, such as Texas, an abstract of judgment is a specific type of document provided either by the court clerk or by an attorney which is used to prove that a judgment has been rendered. The abstract may then be filed in another jurisdiction, where it constitutes notice of a "judgment lien " on the debtor 's real property , thereby ...