Mr.Holden,a program developer,had a successful business helping small firms and shops computerize their businesses.In his spare time,he developed software for inventory control that was superior to others on the market.He launched an ad campaign and all went well for several months until a competitor released a cheaper program.In time,Holden could not pay his debts when they became due and owing.A supplier sued for damages and was awarded $21 000.Holden did not pay.With regard to the supplier's position at this time,which of the following is true?

Question

Quizplus · Accepted Answer

All of the options mentioned are possible actions that can be taken by the supplier as a judgment creditor against Holden, who is a judgment debtor. The supplier could ask for a post-trial hearing to identify Holden's assets and sources of income. Since the decision is in the supplier's favor, the supplier would become a judgment creditor and Holden would be a judgment debtor. The supplier could have a garnishee order served on Holden's bank, ordering the bank to pay money into court instead of to Holden. The supplier could also get a government official to seize and sell enough of Holden's property to satisfy the debt. Therefore, all the options mentioned are possible actions that can be taken by the supplier at this point in time.

MrHolden,a Program Developer,had a Successful Business Helping Small Firms and Shops