Judgment Proof
JUDGMENT PROOF
A term used to describe an individual who is financially unable to pay an adverse court decision awarding a sum of money to the opposing party.
A judgment-proof individual has no money or property within the jurisdiction of the court to satisfy the judgment or is protected by wage laws that exempt salaries and property from formal judicial process.
More From encyclopedia.com
CREDITOR , creditor •bitter, committer, critter, embitter, emitter, fitter, flitter, fritter, glitter, gritter, hitter, jitter, knitter, litter, permitter, pitt… Garnishment , GARNISHMENT
A legal procedure by which a creditor can collect what a debtor owes by reaching the debtor's property when it is in the hands of someone… Receiver , RECEIVER
An archaic term, used in common law andcivil lawcountries, to designate an individual who holds and conceals stolen goods for thieves. Curre… Guardian And Ward , The legal relationship that exists between a person (the guardian) appointed by a court to take care of and manage the property of a person (the ward… Forfeiture , The involuntary relinquishment of money or property without compensation as a consequence of a breach or nonperformance of some legal obligation or t… Escheat , Escheat
The power of a state to acquire title to property for which there is no owner.
The most common reason that an escheat takes place is that an…
You Might Also Like
NEARBY TERMS
Judgment Proof