LEGL-315 Lecture Notes - Lecture 3: Accounts Receivable, Paap, Unsecured Creditor
10 Oct 2017
School
Department
Course
Professor
Document Summary
Also known as creditors" rights, or creditor/debtor law. Any outstanding claims on the title must be dealt with by the dealer. Judgement proof protecting assets by putting everything you own under a spouse"s name. Incorporate incorporating keeps people safe from suit by creating a fictional person by law. Unsecured creditor collection process: we know that the only recourse is to sue: common 1st step is that we send out a demand letter, the first document we file is called a statement of claim. If there is no statement of defence the plaintiff can get a default judgement. No response means that everything in the statement is true. If a debtor files a statement of defence the plaintiff must make a summary judgement application (application before trial trying to prove that there is no real defence) . The writ holder sends a document called a garnishee summons.
