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0538452803_269404 - BLTC-9e Sample Answer for...

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BLTC-9e Sample Answer for End-of-Chapter Hypothetical Question with Sample Answer Chapter 25: Other Creditor’s Remedies and Suretyship 25–2. Question with Sample Answer: Judicial Liens. Kanahara is employed part-time by the Cross- Bar Packing Corp. and earns take-home pay of $400 per week. He is $2,000 in debt to the Holiday Department Store for goods purchased on credit over the past eight months. Most of this property is nonexempt and is now in Kanahara’s apartment. Kanahara is in default on his payments to Holiday. Holiday learns that Kanahara has a girlfriend in another state and that he plans to give her most of this property for Christmas. Discuss what actions are available to and should be taken by Holiday to collect the debt owed by Kanahara. Sample Answer: Three basic actions are available to Holiday: (a) Attachment—a court-ordered seizure of nonexempt property prior to Holiday’s reducing the debt to judgment. The grounds for granting the
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