Marisa successfully sued Ivan, a stockbroker who works for Blue Sky Investments, for breach of contract.The court held that Ivan's breach caused Marisa to suffer a financial loss of $50 000.The court also held that Ivan is personally liable to pay that amount to Marisa.Which of the following statements is TRUE?

Question

Quizplus · Accepted Answer

Garnishment is a legal process that allows a creditor to take funds from a debtor's bank account, wages, or other property to satisfy a debt. Marisa may use garnishment to collect the non-exempt portion of Ivan's income if he does not pay the judgment voluntarily. Option A is false because punitive damages are awarded in cases where the defendant's behavior was particularly egregious or malicious, and are meant to punish the defendant and discourage similar behavior in the future. Option B is false because an order for specific performance requires the defendant to perform their contractual obligations, rather than pay damages for failing to do so. Option C is false because Ivan is the judgment debtor, not Marisa. Option D is false because seizure and sale of all of Ivan's assets is an extreme remedy and generally only used in cases where the defendant is avoiding payment or has substantial assets.

Marisa Successfully Sued Ivan, a Stockbroker Who Works for Blue