A a claim against property which secures payment for taxes owed to the

Government

B a claim imposed on a person against whom a judgment has been

Entered but remains unsatisfied

C a legal instrument which creates a claim upon real estate in order to

Secure the payment of a debt

D a claim against real property which secures payment for work or

Services carried out on that property

E a claim resulting from a legal proceeding in which a creditor requests

A court to order a third party holding property of or owing money (e.g.

wages) to the debtor to release the relevant property/money to the

Creditor

F a prejudgment interest in assets resulting from a court order or writ to

Seize such assets

G a right created by a court order or writ directing the seizure of assets

Of a debtor in order to enforce a judgment

H a legal right to property an owner gives to a creditor as collateral for

Repayment of a debt through the creation of a security agreement

ng 2: 9 e @Ing h

One of the key terms introduced above is attachment lien, which involves the seizure of

Assets of a debtor before a court decision has been reached. The text on page 192,an

Excerpt from an American civil practice and remedies statute, outlines the circumstances

Under which the remedy of attachment is available to a creditor in a lawsuit.

Read the text and answer these questions.

What is the name of the document which in this case shows the right to

attachment?

2 What does the word grounds mean in the context of the text?

3 How does the text refer to the creditor? And the debtor?

How many of points 1-4 (section 61.001) and points 1-9 (section 61.002)

must be satisfied in order for attachment to be available to plaintiff?

Explain these expressions, in italics in the text, in your own words.

To harass the defendant

To serve the process of law on someone

To dispose of property with the intent to defraud creditors

To obtain property under false pretences

Unit 14 Debtor-creditor

E

GENERAL GROUNDS A writ of attachment is available to a

plaintiff in a suit if:

(1) the defendant is justly indebted to the plaintiff;

(2) the attachment is not sought for the purpose of injuring or harassing

The defendant;

(3) the plaintiff will probably lose his debt unless the writ of attachment

Is issued; and

(4) specific grounds for the writ exist under Section 61.002.

61.002 SPECIFIC GROUNDS Attachment is available if:

(1) the defendant is not a resident of this state or is a foreign corporation

Or is acting as such;

(2) the defendant is about to move from this state permanently and has

Refused to payor secure the debt due the plaintiff;

(3) the defendant is in hiding so that the ordinary process of law cannot be

Served on him;

(4) the defendant has hidden or is about to hide his property for the

Purpose of defrauding his creditors;

(5) the defendant is about to remove his property from this state without

Leaving an amount sufficient to pay his debts;

(6) the defendant is about to remove all or part of his property from the

County in which the suit is brought with the intent to defraud his

Creditors;

(7) the defendant has disposed of or is about to dispose of all or part of his

Date: 2015-12-11; view: 970