ACTION FOR POINDING Meaning and
Definition
-
Action for poinding is a legal term used in Scots law, which refers to a specific legal process or action taken by a creditor to recover debts owed by a debtor. Poinding is a term that denotes the practice of seizing a debtor's movable property as a means of enforcing debt repayment. This action is typically taken when other attempts to recover the debt, such as negotiation or court orders, have been unsuccessful.
In an action for poinding, the creditor applies to the court for an order allowing them to seize and sell the debtor's movable property, such as household goods, furniture, or vehicles, to satisfy the outstanding debt. The purpose of this action is to force the debtor to fulfill their financial obligations by removing and selling their assets.
However, it is important to note that action for poinding is subject to certain legal safeguards and restrictions. Generally, it requires specific grounds, such as a court decree or judgment, before it can be initiated. Additionally, there are limitations on what type of property can be seized, with certain essential items being exempted to ensure the debtor's minimum standard of living is maintained.
Overall, action for poinding is a legal mechanism used in Scots law to recover outstanding debts. It involves the seizure and sale of a debtor's movable property, aiming to compel the debtor to settle their indebtedness.
