Judgment Debt - Law Dictionary Search Results
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debt
debt [Old French dette, ultimately from Latin debita, plural of debitum debt, from neuter of debitus, past participle of debere to owe] 1 : something owed: as a : a specific sum of money or a performance due another esp. by agreement (as a loan agreement) [to pay the s…of the United States "U.S. Constitution art. I"] [a for alimony] b : an obligation to pay or perform on another's claim [discharged the ] compare asset, equity NOTE: It is often up to the courts to decide what is or is not a debt under various laws. Courts disagree whether criminal restitution is a debt under the Bankruptcy Code. The historical practice of imprisoning debtors for nonpayment is no longer used. antecedent debt : debt that is incurred prior to a property transfer paying or securing the debt compare preference bad debt : a debt that cannot be collected NOTE: An income tax deduction is allowed for bad debts. consumer debt : debt that is incurred by an individual primarily for the purchase of ...
Attachment of debts
Attachment of debts. By (English) R.S.C. 1883, Order XLV., as amended by (English) R.S. C. July, 1902, r. 12, and R. S.C. July, 1905, r. 8, a judgment creditor may apply ex parte to the Court or a judge (r. 1), either before or after any oral examination of the debtor, for an order nisi [see Norton v. Yates, 1906 (1) KB 112] attaching debts owing or accruing to the debtor in the hands of the parties owing the same who are called garnishees; and by the same or any subsequent order the garnishee maybe required to appear before the Court, or a judge, or an officer of the Court, to show cause why he should not pay to the judgment creditor the debt due from him (the garnishee) to the judgment debtor or so much thereof as may be sufficient to satisfy the judgment debt. See (English) County Court Rules, 1936, Ord. XXVII....
Debt
Debt [fr. debitum, Lat.], a sum of money due from one person to another. An action of debt lay where a person claimed the recovery of a liquidated or certain sum of money affirmed to be due to him; and it was generally founded on some contract alleged to have taken place between the parties, or on some matter of fact from which the law would imply a contract between them. This was debt in the debet, which was the principal and only common form. There is another species mentioned in the books, called debt in the detinet, which lay for the specific recovery of goods, under a contract to deliver them. An action of debt as a technical term is now obsolete. See PLEADINGS. The order of the payment of debts and expenses out of legal assets in an ordinary administration action in the Chancery Division of the High Court is as follows:-1. Funeral expenses, which in the case of an insolvent estate must be strictly reasonable and necessary only, the executor or administrator being personally liabl...
judgment
judgment also judge·ment [jəj-mənt] n 1 a : a formal decision or determination on a matter or case by a court ;esp : final judgment in this entry compare dictum, disposition, finding, holding, opinion, ruling, verdict NOTE: Under Rule 54 of the Federal Rules of Civil Procedure judgment encompasses a decree and any order from which an appeal lies. cog·no·vit judgment [kÄ g-nō-vit-] : an acknowledgment by a debtor of the existence of a debt with agreement that an adverse judgment may be entered without notice or a hearing : confession of judgment consent judgment : a judgment approved and entered by a court by consent of the parties upon agreement or stipulation : consent decree at decree declaratory judgment : a judgment declaring a right or establishing the legal status or interpretation of a law or instrument [seeking a declaratory judgment that the regulation is unconstitutional] compare damage, injunction specific performance at per...
Execution
Execution, the last state of a suit whereby possession is obtained of anything recovered by a judgment. It is styled final process, and is regulated by R.S.C. 1883, Ord. XLII., r. 17, of which allows immediate execution in ordinary cases. See PR'CIPE.The ordinary writs of execution are capia ad satisfaciendum; fieri facias; elegit; and habere facias possessionem. See these titles respectively, especially FIERI FACIAS.As to the protection of vendor or purchaser on a sale under an execution, see Bankruptcy and Deeds of Arrangement Act, 1913, s. 15.As to the writ of capias ad satisfaciendum, see Hulbert v. Cathcart, 1896 AC 470; and it is to be borne in mind that by the (English) Debtors Act, 1869 (32 & 33 Vict. c. 62), imprisonment for debt has been abolished, except as specified in s. 4. See IMPRISONMENT.By (English) R.S.C. 1883, Ord. XLII., r. 17(b), the Court or a judge may, at or after the time of giving judgment or making an order, stay execution until such time as they or he shall ...
Irish and Scots Courts' Judgments
Irish and Scots Courts' Judgments. As regards Northern Ireland and Scottish judgments, a judg-ment of a Superior Court of Northern Ireland or Scotland is enforceable after registration of a certificate thereof by the High Court of Justice in England, under the Judgments Extension Act, 1868 (31 & 32 Vict. c. 54 (preserved by Judic. Act, 1925, s. 224); and a judgment of an inferior Court is similarly enforceable by an English county Court, under the Inferior Courts Judgments Extension Act, 1882 (45 & 46 Vict. c. 31). Irish Free State judgments of the Courts may not be so enforced under the Judgments Extension Act, 1868, since references to 'Ireland' in any enactment passed before the establishment of the Irish Free State to the United Kingdom or to Ireland are in the application of that enactment in Great Britain or Northern Ireland to be construed as exclusive of the Irish Free State (see Stat. R. & O. 1923, No. 405, Art. 2). The Act of 1868 applies only to debt, damages and costs, but ...
Bankruptcy notice
Bankruptcy notice, a notice (taking the place of the 'debtor's summons' (see that title) under the (English) Bankruptcy Act, 1869) to pay a judgment debt for any amount, non-compliance with which notice within a limited time amounts, by s. 1(1)(g) of the (English) Bankruptcy Act, 1914, to an 'act of bankruptcy.' The notice may be given by any creditor who has obtained a 'final judgment' or 'final order,' and if the debtor does not within seven days of service of the notice, if served in England, either comply with its requirements or satisfy the Court that he has a cross demand equalling or exceeding the judgment debt, and which he could not set up in the action in which judgment was obtained, he commits an 'act of bankruptcy' (see that title). Two or more debts cannot be included in one notice. A substantial defect in the notice cannot be amended [Re a Debtor, 1908 (2) KB 684]....
Judgment-debtor
Judgment-debtor, means any person against whom a decree has been passed or an order capable of execution has been made. [Code of Civil Procedure, 1908, s. 2 (10)]One against whom a judgment ordering him to pay a sum of money stands unsatisfied. He may, by order of the Court or judge, be orally examined by the judgment creditor as to debts owing to him by third parties, and be compelled to produce books and documents, with a view to attaching any debts due to him [(English) R.S.C. 1883, Ord. XLV., r. 1]. See ATTACHMENT OF DEBTS....
mortgage
mortgage [Anglo-French, from Old French, from mort dead (from Latin mortuus) + gage security] 1 a : a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or performance according to stipulated terms [shows that a deed was intended only as a "W. M. McGovern, Jr. et al."] b : a lien against property that is granted to secure an obligation (as a debt) and that is extinguished upon payment or performance according to stipulated terms [creditors with valid s against the debtor's property "J. H. Williamson"] c : a loan secured by a mortgage [applied for a ] adjustable rate mortgage : a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but which is adjusted periodically according to an index (as the cost of funds to the lender) balloon mortgage : a mortgage having the interest paid periodically and the principal paid in one lump sum at the end of the term of the lo...
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