0538452803_269404

0538452803_269404 - BLTC-9e Sample Answer for End-of-Chapter Hypothetical Question with Sample Answer Chapter 25 Other Creditors Remedies and

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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 writ of attachment are limited, but in most states (when submitted), the writ
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This note was uploaded on 11/21/2011 for the course MGMT 4324 taught by Professor Tim during the Spring '11 term at Andhra University.

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0538452803_269404 - BLTC-9e Sample Answer for End-of-Chapter Hypothetical Question with Sample Answer Chapter 25 Other Creditors Remedies and

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